Hero MotoCorp's profit in the second quarter of fiscal year 2027 grew by 42% to 1,861 crore rupees

Indian Overseas Bank (IOB), based in Chennai, reported a 56% increase in net profit during the second quarter of the fiscal year 27, reaching 1963 crore rupees. This growth compared to 1259 crore rupees in the quarter from July to September of fiscal year 26, and is attributed to increased interest income and improved asset quality.

The bank's total income for the reporting period increased by 13%, amounting to 10,428 crore rupees. IOB's interest income in Q2 FY27 rose by 17% to 9,201 crore rupees, compared to 7,851 crore rupees in the same period last year.

Ajay Kumar Srivastava, Managing Director and CEO of IOB, noted that net interest income grew by 26% during the quarter. He also highlighted the good asset quality and low write-off levels in the system.

Net Interest Income (NII) for the quarter increased by 26.4% to 3,867 crore rupees, compared to 3,059.3 crore rupees a year earlier. Srivastava added that write-offs remained under control at 240 crore rupees, and the provisioning ratio was only 0.07%, which is one of the lowest in the banking system, and the bank consistently maintains this figure.

The Non-Performing Asset (NPA) ratio decreased by 64 basis points (bps) year-on-year (Y-o-Y) to 1.19%, while the Net NPA ratio fell by 12 bps year-on-year to 0.16%. Credit costs also decreased by 1 bp year-on-year to 0.17%. During the quarter, 647 crore rupees were recovered against NPAs, which is 2.95 times higher than quarterly write-offs. The Capital to Risk-Weighted Assets Ratio (CRAR) increased by 66 bps year-on-year to 18.60%. Return on Assets (RoA) improved to 1.53% from 1.20% last year, which is 33 bps higher. Return on Equity (RoE) grew to 24.58% from 19.95% last year, an increase of 463 bps.

The bank's total deposits increased by 20.16% to 4.07 trillion rupees from 3.39 trillion rupees. Current Account Savings Account (CASA) deposits also grew by 20.73% year-on-year to 1.65 trillion rupees, and the internal CASA ratio improved by 13 bps year-on-year to 41.14%. The volume of loans disbursed in Q2 FY27 reached 3.45 trillion rupees, showing a growth of 24.35% compared to 2.77 trillion rupees last year.

Srivastava stated that, according to preliminary estimates, IOB will require additional provisioning of about 2,600–2,800 crore rupees under Expected Credit Losses (ECL). He clarified that the bank has already created ECL provisions of about 2,700 crore rupees, meaning that 100% of the required amount is already secured in the balance sheet as projected ECL reserves.

Furthermore, he mentioned the successful performance of the gold loan portfolio and the development of several programs to meet the needs of various segments of society with competitive interest rates. Srivastava added that the jewelry loan portfolio is very sound, with outstanding loans amounting to nearly 1.36 trillion rupees, and shows no signs of stress. The bank maintains a Loan-to-Value (LTV) ratio of about 60–62%, which adequately accounts for price fluctuations.

Himadri Speciality Chemical Ltd reported a 29% rise in consolidated profit after tax during the first half of the current fiscal year, reaching 460 crore rupees. This growth is attributed to the development of the company's core business areas, improvement in the product mix, and expansion of its portfolio of specialty and advanced materials.

For the period from April to September 2027, revenue from operations increased by 43% compared to the same period last year, amounting to 3,123 crore rupees. Meanwhile, EBITDA grew by 30%, reaching 616 crore rupees. The company now fully owns Birla Tyres, which has become its subsidiary.

These results set a new semi-annual benchmark for the Kolkata-headquartered company as it strives to strengthen its position in specialty chemicals and advanced materials, especially those used in the value chains of lithium-ion batteries and electric mobility.

Third Quarter Results

The company also demonstrated strong growth in July-September. Revenue from operations increased by 57.93% year-on-year, reaching approximately 1,691 crore rupees compared to 1,071 crore rupees in the corresponding quarter of the previous fiscal year. EBITDA grew by 27.48% to 303 crore rupees (against 238 crore rupees), and profit after tax increased by 31.33% to 231 crore rupees (against 176 crore rupees).

Strategy and Achievements

Anurag Chaudhary, Chairman, Managing Director, and CEO of Himadri Speciality Chemical, noted that the company achieved new milestones in the first half of the 2027 fiscal year: revenue exceeded 3,000 crore rupees, EBITDA surpassed 600 crore rupees, and profit after tax exceeded 450 crore rupees.

Chaudhary emphasized that sustainable profitability growth is ensured by an optimized product range, increased share of core business segments, and the expansion of the portfolio of specialty and advanced materials. Himadri's strategy involves transitioning from traditional carbon chemistry operations to higher-value specialty chemicals and materials serving new industrial needs. The company's portfolio includes specialty carbon black, coke oven tar, purified naphthalene, specialty oils, and other chemical products, as well as advanced materials for lithium-ion batteries and electric mobility.

Investments and Partnerships

In the second quarter, the company strengthened its investments in Sicona Battery Technologies, which completed the acquisition of the American company Advano. This acquisition added intellectual property related to silicon anodes, as well as pilot production, research and development, and cell testing capabilities in the United States, thereby strengthening Sicona's technological base for developing silicon-carbon anode materials.

Furthermore, Sicona received funding of 45 million Australian dollars from the Australian Renewable Energy Agency to accelerate the commercialization of its next-generation silicon-carbon anode technology. Silicon-carbon anodes are among the advanced materials being developed to enhance the performance of lithium-ion batteries.

The company also made a strategic investment in International Battery Company (IBC). According to Chaudhary, IBC provided a platform covering material validation, cell development, and commercial implementation. This allowed Himadri to link its material R&D capabilities with subsequent battery applications, shortening the path from innovation to commercial use.

Diversification and Integration

The company is also developing competencies in other advanced materials, including carbon nanotubes, super specialty carbon black, lithium iron phosphate (LFP) cathode materials, and synthetic anode materials. These products are part of broader efforts to diversify the business and strengthen domestic manufacturing capabilities in strategically important materials.

Another significant event during the quarter was the merger of Birla Tyres' business with Himadri. The company stated that the proposed deal is an important step towards creating an integrated tire value chain by combining competencies in raw materials, specialty carbon black, research and development, and manufacturing. This move could strengthen the company's presence in the tire and rubber materials segment by consolidating additional capabilities under a more integrated business structure. Specialty carbon black is a crucial component for tires and other rubber products, making this segment a natural extension of Himadri's existing expertise in carbon chemistry.

Chaudhary concluded that the company's focus remains on maintaining growth momentum, accelerating the commercialization of advanced materials, strengthening global presence, and unlocking opportunities within new technologies.