VTM Limited · BSE:VTMLTD
VTM — Q2 FY2027 Earnings Presentation
12 slides from VTM's earnings presentation, Nov 5, 2026
Slide 1: VTM Limited Q2 FY27 Earnings Presentation
VTM Limited Q2 - FY27 | Earnings Presentation 05-Nov-2026
Slide 2: Quarterly Results Review
Quarterly Results ₹ 9,817 L Review Net sales, Q2 FY27 Unaudited standalone results for the quarter ended September 30, 2026 — compared with Q1 FY27 and Q2 FY26 ₹ 9,840 L Q2 FY27 Earnings Snapshot Net sales Q1 FY27 Source: Company filing, Statement of Unaudited Financial Results (Board meeting Nov 5,
Slide 3: Margins Recover, Fixed Charges Rise
MOMENTUM AT A GLANCE Margins Recover, Fixed charges Rise 01 02 03 Top-line growth EBITDA expansion Raw-material intensity Net sales of ₹ 9,817 L, up 9.2% YoY; EBITDA of ₹ 694 L, up 38.9% YoY; Material cost at 59.8% of sales vs 65.0% flat QoQ (−0.2%) vs Q1 FY27 margin 7.1% vs 5.6% in Q2 FY26 (+151 a
Slide 4: Q2 FY27 – Financial highlights
FINANCIAL HIGHLIGHTS Q2 FY27 – Financial highlights Net Sales Total Income Gross Margin EBITDA 9,817 L 9,931 L 3,947 L 694 L YoY +9.2% QoQ −0.2% YoY +9.1% QoQ +0.3% YoY +25.3% QoQ +24.8% YoY +38.9% QoQ +19.0% PBT (pre-exceptional) Profit After Tax Total Comprehensive Inc. EPS (₹, not annualised) 363
Slide 5: Unaudited Results – Quarter Ended September 30, 2026
Unaudited Results – Quarter Ended September 30, 2026 Particulars (₹ Q2 FY27 Q1 FY27 Q2 FY26 QoQ % YoY % FY26 Lakhs) Net Sales 9,816.53 9,840.41 8,987.59 −0.2 9.2 37,198.13 Other Income 114.10 63.67 116.41 79.2 −2.0 340.83 Total Income 9,930.63 9,904.08 9,104.00 0.3 9.1 37,538.96 Materials (net of 5,
Slide 6: Margin profile across periods
PROFITABILITY Margin profile across periods Gross margin % EBITDA margin % PAT margin % Q2 FY27 40.2 Q2 FY27 7.1 Q2 FY27 3.0 Q1 FY27 32.1 Q1 FY27 5.9 Q1 FY27 2.0 Q2 FY26 35.0 Q2 FY26 5.6 Q2 FY26 2.6 FY26 37.1 FY26 7.5 FY26 3.0 +516 bps YoY · +808 bps QoQ +151 bps YoY · +114 bps QoQ +41 bps YoY · +10
Slide 7: Where each ₹100 of sales went
COST STRUCTURE Where each ₹ 100 of sales went Materials (net) Employee Benefits Other expenses EBITDA Q2 FY27 59.8% 8.5% 24.6% 7.1% Q1 FY27 67.9% 8.5% 17.7% 5.9% Q2 FY26 65.0% 7.4% 22.1% 5.6% FY26 62.9% 7.2% 22.5% 7.5% VTM Limited · Q2 FY27 · % of net sales · segments sum to 100% (rounded) 6
Slide 8: Q2 FY26 → Q2 FY27 EBITDA (₹ Lakhs)
EBITDA BRIDGE · YOY Q2 FY26 → Q2 FY27 EBITDA (₹ Lakhs) Green adds to EBITDA, red reduces · 499.52 + 828.94 − 32.00 − 172.69 − 430.18 = 693.59 7
Slide 9: Key takeaways from the quarter
Management’s Opinion Key takeaways from the quarter 1. Sales up YoY, flat QoQ, Material-to-sales fall 2. Other costs Increase Net sales +9.2% YoY, but net material cost grew only 0.5%, so Other expenses +21.6% YoY (+39.2% QoQ) gross margin rose 25.3%, 59.8% (vs 65.0% YoY, 67.9% QoQ) [Reason: Other E
Slide 10: Stock information
ABOUT VTM Stock information Shareholding Pattern: Stock Data (as on 5 November 2026) Market Cap ₹ 428 Cr Promoters 75% Stock Price ₹ 42.30 Public 25% 52 Week (High / Low) ₹ 103.33 / ₹ 30.75 Shares Outstanding 10,05,69,000 Face Value ₹ 1.00 Other equity (Sep 30, 2026) ₹ 31,133 L Price: Nov 5, 2026 cl
Slide 11: Definitions and reconciliation
APPENDIX Definitions and reconciliation Definitions used EBITDA → PBT check (₹ L) • Materials (net) = cost of materials consumed + Item Q2 FY27 Q1 FY27 change in inventories of FG, WIP and stock-in- EBITDA 693.59 582.95 trade + Other income 114.10 63.67 • Gross margin = Net sales − Materials (net) •
Slide 12: Disclaimer
Disclaimer The contents of this presentation are for informational purposes only and for the reader's personal, non-commercial use. While reasonable care has been taken in its preparation, the contents are not guaranteed to be complete or accurate in every respect. Financial results for the quarter