Trailer axle maker Kross Limited has had the kind of quarter small-cap auto ancillary investors hope for. In its Kross Q2 results, approved by the board on Saturday, October 17, 2026, revenue from operations rose 79.6% year on year to ₹235.09 crore and net profit jumped 143.5% to ₹19.69 crore. These are standalone numbers from the company’s results filing on BSE.
Kross Q2 results: what the filing shows
The year-ago comparisons come from the company’s earnings press release, filed with the exchanges the same evening.
- Revenue from operations: ₹235.09 crore, against ₹130.92 crore in the September 2025 quarter (up 79.6%).
- EBITDA: ₹30.60 crore, against ₹14.75 crore (up 107.4%). The EBITDA margin widened to 13.0% from 11.3%. This is the company’s own measure and excludes other income.
- Net profit: ₹19.69 crore, against ₹8.08 crore (up 143.5%). Net profit as a share of revenue rose to 8.4% from 6.2%.
- EPS: ₹3.08, against ₹1.25.
- First half (April-September): revenue of ₹419.43 crore, up 55.2%, and net profit of ₹33.16 crore, up 76.5%.
The sequential picture is strong too. Taking the half-year figures and subtracting the September quarter, our arithmetic puts June-quarter revenue at about ₹184.34 crore and profit at about ₹13.48 crore. So revenue grew roughly 27.5% quarter on quarter and profit about 46%.
Where the growth came from
Kross makes trailer axles, suspension assemblies and forged and cast parts for medium and heavy commercial vehicles (M&HCVs), tractors and off-highway machines. The company says demand was strong in the M&HCV and trailer segments, tractor and farm demand kept recovering, and new capacity added volumes. It also credits operating efficiency and backward integration for protecting margins while input costs rose. Raw materials consumed came to about 57% of revenue this quarter.
Below the operating line, finance costs were ₹2.59 crore and depreciation ₹3.23 crore. Other income added ₹2.17 crore, and tax took ₹7.27 crore, an effective rate of about 27%. If you want a refresher on why that figure matters, we covered the deferred tax line in results separately.
The cash side needs watching
This is the part that tempers the headline. The half-year cash flow statement shows only ₹4.73 crore of cash from operating activities, against net profit of ₹33.16 crore for the same six months. Working capital is soaking up most of the earnings. At the same time, Kross spent ₹59.16 crore buying property, plant and equipment, and it raised ₹64.77 crore of fresh borrowings. Total borrowings, current and non-current, stood at ₹118.68 crore on September 30.
The spending is going into new plants. According to the press release, the axle beam extrusion plant has started commercial production and is running at about 60-65% utilisation. Seamless tube production trials are targeted for February-March 2027, and supplies of precision hydraulic tipping jacks should scale up in the second half of FY27. Chairman and MD Sudhir Rai said the company is “well positioned to deliver healthy growth in FY27”.
What we’d track from here: whether operating cash flow catches up with profit as the new lines settle in, and whether margins hold as utilisation rises. For a step-by-step approach to filings like this one, see how to analyse quarterly results. For a recent metals-side comparison, read our note on Jayaswal Neco’s Q2 numbers.
Disclaimer: This article is for information only and is not investment advice or a recommendation to buy or sell any security. Figures are from the company’s exchange filings linked above. Consult a SEBI-registered investment adviser before making investment decisions.
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