Nirlon Ltd (NIRLON) Q2FY27 Concall Transcript - Sep-2026 Qtr
Moderator: Ladies and gentlemen, good day and welcome to Nirlon Limited Q2 and H1 FY '27 earnings conference call hosted by Valorem Advisors. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing "*" and "0" on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Purvangi Jain from Valorem Advisors. Thank you, and over to you, Ms. Jain.
Purvangi Jain (Valorem Advisors): Thank you. Good evening, everyone, and a very warm welcome to you all. My name is Purvangi Jain from Valorem Advisors. We represent the Investor Relations of Nirlon Limited. On behalf of the company, I would like to thank you all for participating in the company's earnings call for the second quarter and half year ended of the financial year 2027. Before we begin, a quick cautionary statement. Some of the statements made in today's earnings call may be forward-looking in nature. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Such statements are based on management's belief, as well as assumptions made by, and information currently available to the management. Audiences are cautioned not to place any undue reliance on these forward-looking statements in making any investment decisions. The purpose of today's conference call is purely to educate and bring awareness about the company's fundamental business and financial performance for the period under review. Now, let me introduce you to the management participating with us in today's earnings call and hand it over to them for their opening remarks. We have with us: Mr. Rahul V. Sagar, Chief Executive Officer and Executive Director; Mr. Manish B. Parikh, Chief Financial Officer, VP, Finance; Mr. Jasmin K. Bhavsar, Company Secretary, Vice President, Legal and Compliance Officer; and Mr. Ashish Bharadia,
Purvangi Jain (Valorem Advisors): VP business development and investor relations Nirlon Management Services Private Limited. Without any delay, I request Mr. Rahul Sagar to give his opening remarks. Thank you and over to you, sir.
Rahul V. Sagar (Nirlon Ltd): Thank you, Purvangi. Thank you all. It is a pleasure to welcome you to our earnings conference call for the second quarter and half year of financial 2027. Let me begin by taking you through the company's financial performance for the quarter. For the second quarter, the company reported a total income of ₹174 crores, representing a year-on-year growth of 3%. EBITDA stood at ₹137 crores reflecting a year-on-year growth of 3% with EBITDA margins of 78.4%. Profit after tax for the second quarter stood at approximately ₹72 crores compared to 100- and ₹148 crores in the corresponding quarter of the previous year. PAT margin for the quarter stood at 41.3%. The year-on-year change in PAT is not comparable as is not comparable as Q2 FY '26 had a one-time impact of remeasurement of deferred tax liability as the company moved to the new tax regime for Q2 from Q2 FY '26 onwards. For the first half of FY '27, the company reported total income of ₹347 crores, registering a year-on-year growth of 3%. EBITDA stood at ₹270 crores with EBITDA margins of 77.88% while profit after tax stood at ₹141 crores. On the operational front, average occupancy across our portfolio's portfolios comprising NKP and Nirlon House stood at 99.8% during the second quarter of FY '27. Additionally, during the quarter, Nuvama India Private Limited renewed approximately 37,000 sq ft of space at Nirlon Knowledge Park, which was due for renewals in FY '28. With that, we conclude our opening remarks and would now be happy to take your questions. Thank you.
Moderator: Thank you. We will now begin the question and answer session. Anyone who wishes to ask a question, may press star and one on your touch-tone telephone. If you wish to remove yourself from the question queue, you may press star and two. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we'll wait for a moment while the question queue assembles. The first question comes from the line of Lakshya Jain, an individual investor. Please go ahead.
Lakshya Jain: Hello?
Rahul V. Sagar (Nirlon Ltd): Hi.
Lakshya Jain: Am I audible, sir? Hi, sir.
Rahul V. Sagar (Nirlon Ltd): Yes.
Lakshya Jain: Yeah. So my first question, sir, sir, ₹57 crores of amount moved from long-term borrowing to short-term borrowing. Are we going to repay only 60 crores this year, or further prepayment can also be expected, sir?
Rahul V. Sagar (Nirlon Ltd): Okay. Sorry. Any other any other points or just this question?
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