De Nora India Reports 35% Decline in Q2 Revenue, Net Profit Up 18%

De Nora India Limited , a leading player in electrode technologies, has reported a mixed set of financial results for the second quarter ended September 30, 2025. The company saw a significant decline in revenue but managed to improve its profitability.

Revenue Decline

De Nora India reported total income from operations of Rs 2,854.28 crore for Q2 FY2026, marking a 35% decrease from Rs 4,402.68 crore in the previous quarter. However, when compared to the same quarter last year, the company saw a 44% increase from Rs 1,978.09 crore.

Improved Profitability

Despite the revenue decline, the company's net profit after tax showed improvement:

Particular	Q2 FY2026	Q1 FY2026	Q2 FY2025	YoY Change
Net Profit	387.20	324.92	328.12	18%

The company's net profit increased by 19% quarter-on-quarter and 18% year-on-year.

Half-Yearly Performance

For the first half of FY2026, De Nora India's total income reached Rs 6,786.91 crore, compared to Rs 3,388.18 crore in the corresponding period of the previous year, representing a substantial growth of 100%.

Earnings Per Share

The earnings per share (EPS) for Q2 FY2026 stood at Rs 7.29, up from Rs 6.12 in the previous quarter, indicating an improvement in the company's profitability on a per-share basis.

Warranty Provisions

During the quarter, De Nora India recognized provisions of Rs 427.15 crore relating to warranty. These provisions are determined based on past warranty claims and other pertinent factors, which may impact the company's future financial obligations.

Management Commentary

Vinay Chopra, Managing Director of De Nora India Limited, stated, "While we faced challenges in our top-line performance this quarter, our focus on operational efficiency has resulted in improved profitability. We remain committed to delivering value to our shareholders and maintaining our position as a leader in electrode technologies."

Outlook

The company's ability to improve profitability despite revenue challenges suggests effective cost management and operational efficiency. However, the significant quarter-on-quarter revenue decline may warrant attention from investors and analysts in the coming quarters.

De Nora India's financial results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on November 5, 2025. The company continues to operate in the Electrode Technologies segment, which remains its sole reportable segment as per Ind AS 108 - Operating Segments.

Investors and stakeholders will likely keep a close watch on De Nora India's performance in the coming quarters to see if the company can maintain its profitability while addressing the challenges in revenue growth.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.88%	-6.09%	-10.27%	-14.27%	-41.02%	+236.05%

De Nora India Limited , a leading company in electrode technologies, has announced its unaudited financial results for the quarter and half-year ended September 30, 2025, along with significant changes to its board of directors.

Financial Performance

The company reported a strong financial performance for the second quarter of 2025:

Particulars (in ₹ Lakhs)	Q2 2025	Q2 2024	H1 2025	H1 2024
Revenue from Operations	2,184.41	1,813.45	6,381.34	3,089.27
Total Income	2,354.28	1,978.09	6,786.91	3,388.18
Profit Before Tax	520.51	444.38	954.72	832.43
Profit for the Period	387.20	328.12	712.42	616.30
EPS (Basic and Diluted)	7.29	6.18	13.41	11.61

The company's revenue from operations for Q2 2025 increased by 20.45% compared to Q2 2024, while the profit for the period grew by 18.01%. For the half-year, revenue from operations saw a significant jump of 106.56%, with profit increasing by 15.59%.

Board Changes and Appointments

De Nora India Limited announced several changes to its board composition:

New Appointment: Mr. Guido Picari has been appointed as an Additional Director (Non-Executive and Non-Independent) with effect from November 5, 2025. Mr. Picari brings over 15 years of international experience in finance and treasury management.
Re-appointment: Mr. Purushottam Mantri has been re-appointed as an Independent Director for a second term of five years, from February 5, 2026, to February 4, 2031, subject to shareholder approval. Mr. Mantri has over four decades of experience in corporate law and compliance.
Resignation: Mr. Robert Scannell has resigned from his position as Non-Executive Director, effective from the close of business hours on November 5, 2025, citing his superannuation from the De Nora Group.

Other Key Developments

The company has approved a postal ballot notice to seek shareholder approval for the appointment of Mr. Deepak Nagvekar as Whole-time Director, the formal appointment of Mr. Guido Picari, and the re-appointment of Mr. Purushottam Mantri.
Remote e-voting for these resolutions will commence on November 16, 2025, and conclude on December 15, 2025.
During Q2 2025, the company recognized provisions of ₹427.15 lakhs relating to warranty, based on past warranty claims and other relevant factors.

The board meeting that approved these results and changes commenced at 3:30 PM (IST) and concluded at 5:30 PM (IST) on November 5, 2025.

These developments reflect De Nora India's commitment to strong corporate governance and strategic growth. The company's financial performance demonstrates resilience and growth in the challenging business environment of 2025.