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Aarnav Fashions Q2 FY27 results: net profit down 30.4% to ₹1.65 crore, revenue down 4.1%
Aarnav Fashions Limited reported standalone Q2 FY27 revenue of ₹128.37 crore and a net profit of ₹1.65 crore. Revenue fell 4.1% from the year-ago quarter, while profit before tax declined 31.2% and EBITDA margin edged up to 5.6%.
Key points
- Q2 FY27 revenue was ₹128.37 crore, down 4.1% from ₹133.80 crore in Q2 FY26 but up 48.4% from ₹86.53 crore in Q1 FY27.
- EBITDA was ₹7.21 crore in Q2 FY27, compared with ₹7.39 crore in Q2 FY26 and ₹6.69 crore in Q1 FY27; the margin was 5.6% versus 5.5% and 7.7%.
- Profit before tax was ₹2.18 crore in Q2 FY27, down 31.2% from ₹3.17 crore in Q2 FY26 and down 3.5% from ₹2.26 crore in Q1 FY27.
- Net profit was ₹1.65 crore in Q2 FY27, down 30.4% from ₹2.37 crore in Q2 FY26; basic EPS was 0.39.
- H1 FY27 revenue was ₹214.89 crore and net profit was ₹3.33 crore, compared with ₹230.96 crore and ₹4.26 crore in H1 FY26.
How did Aarnav Fashions perform in Q2 FY27?
Aarnav Fashions reported standalone revenue of ₹128.37 crore in Q2 FY27, down 4.1% from ₹133.80 crore in Q2 FY26. Revenue was up 48.4% from ₹86.53 crore in Q1 FY27. EBITDA was ₹7.21 crore, with a margin of 5.6%, compared with ₹7.39 crore and 5.5% a year earlier and ₹6.69 crore and 7.7% in the previous quarter.
Profit before tax was ₹2.18 crore, down 31.2% from ₹3.17 crore in Q2 FY26 and down 3.5% from ₹2.26 crore in Q1 FY27. Net profit was ₹1.65 crore, down 30.4% from ₹2.37 crore a year earlier and down 1.8% from ₹1.68 crore in the previous quarter. Basic EPS was 0.39, compared with 0.56 and 0.40. The results are standalone; no consolidated figures were given.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 128.37 | 86.53 | 133.80 | −4.1% | +48.4% |
| Other income | 0.08 | 0.08 | 0.14 | −42.9% | +0.0% |
| Total expenses | 126.27 | 84.35 | 130.78 | −3.4% | +49.7% |
| EBITDA | 7.21 | 6.69 | 7.39 | −2.4% | +7.8% |
| EBITDA margin | 5.6% | 7.7% | 5.5% | +0.1 pp | −2.1 pp |
| Profit before tax | 2.18 | 2.26 | 3.17 | −31.2% | −3.5% |
| Tax | 0.53 | 0.57 | 0.80 | −33.8% | −7.0% |
| Net profit | 1.65 | 1.68 | 2.37 | −30.4% | −1.8% |
| EPS (₹) | 0.39 | 0.40 | 0.56 | −30.4% | −2.5% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Aarnav Fashions' costs and profit?
Total expenses were ₹126.27 crore in Q2 FY27, down 3.4% from ₹130.78 crore in Q2 FY26. Cost of materials was ₹94.59 crore, up ₹16.04 crore or 20.4%, while other expenses were ₹19.32 crore, down ₹4 crore or 17.2%. Employee cost was ₹2.32 crore, up ₹0.05 crore, finance costs were ₹2.52 crore, up ₹0.16 crore, and depreciation was ₹2.59 crore, up ₹0.58 crore.
Other income was ₹0.08 crore, down ₹0.06 crore from ₹0.14 crore in Q2 FY26. There was no exceptional item in either quarter. Profit before tax fell ₹0.99 crore from ₹3.17 crore to ₹2.18 crore, and tax was ₹0.53 crore, down ₹0.27 crore from ₹0.80 crore. The filing did not state why the cost of materials increased.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 94.59 | 78.55 | +16.04 | +20.4% |
| Employee cost | 2.32 | 2.27 | +0.05 | +2.2% |
| Finance costs | 2.52 | 2.36 | +0.16 | +6.8% |
| Depreciation | 2.59 | 2.01 | +0.58 | +28.9% |
| Other expenses | 19.32 | 23.32 | −4 | −17.2% |
| Total expenses | 126.27 | 130.78 | −4.51 | −3.4% |
| Other income | 0.08 | 0.14 | −0.06 | −42.9% |
| Tax | 0.53 | 0.80 | −0.27 | −33.8% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Aarnav Fashions reported standalone revenue of ₹214.89 crore, down 7.0% from ₹230.96 crore in H1 FY26. Total income was ₹215.06 crore, compared with ₹231.18 crore. Profit before tax declined 22.1% to ₹4.43 crore from ₹5.69 crore.
Net profit for H1 FY27 was ₹3.33 crore, down 21.8% from ₹4.26 crore in H1 FY26. EPS declined 21.8% to 0.79 from 1.01.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 214.89 | 230.96 | −7.0% |
| Profit before tax | 4.43 | 5.69 | −22.1% |
| Net profit | 3.33 | 4.26 | −21.8% |
| EPS (₹) | 0.79 | 1.01 | −21.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹463.14 crore, compared with ₹398.08 crore at 31 March 2026, while total equity was ₹199.92 crore against ₹196.58 crore. Borrowings rose to ₹123.49 crore from ₹108.80 crore, and cash was ₹3.70 crore against ₹4.19 crore. Inventories were ₹135.60 crore, trade receivables ₹155.99 crore and trade payables ₹80.03 crore.
For H1 FY27, operating cash flow was negative ₹6.54 crore, compared with ₹10.09 crore in H1 FY26. Investing cash flow was negative ₹3.36 crore against negative ₹4.89 crore, and financing cash flow was ₹9.41 crore against negative ₹3.90 crore. Capital expenditure was ₹3.36 crore, compared with ₹4.89 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 463.14 | 398.08 |
| Total equity | 199.92 | 196.58 |
| Borrowings | 123.49 | 108.80 |
| Cash and equivalents | 3.70 | 4.19 |
| Inventories | 135.60 | 96.69 |
| Trade receivables | 155.99 | 130.98 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −6.54 | 10.09 |
| Cash from investing | −3.36 | −4.89 |
| Cash from financing | 9.41 | −3.90 |
| Capital expenditure | 3.36 | 4.89 |
Source: Company's results filing (XBRL).
How has Aarnav Fashions done over the last 8 quarters?
Revenue reached its highest level in the reported series at ₹133.80 crore in Q2 FY26 and its lowest at ₹86.53 crore in Q1 FY27. It rose to ₹128.37 crore in Q2 FY27, remaining below the year-ago quarter. Profit before tax was ₹2.18 crore in Q2 FY27 against ₹3.17 crore in Q2 FY26.
The EBITDA margin reached its highest level at 7.7% in Q1 FY27 and its lowest at 5.5% in Q2 FY26. It was 5.6% in Q2 FY27, up 0.1 percentage points from Q2 FY26 but down 2.1 percentage points from Q1 FY27.
What else did the company announce?
The board approved and adopted the unaudited financial results for the quarter and six months ended 30 September 2026, along with the limited review report issued by the statutory auditors. The same-day filing did not mention a dividend or a fund raise.
The board appointed Lalchand Manfoolram Saharan as an Additional Executive Director with effect from 3 November 2026, for five years subject to shareholder approval at the next General Meeting. The filing said Saharan has approximately 36 years of experience in manufacturing process management, production controlling and accounting, and had been associated with the group since 1990.
How did Aarnav Fashions shares react?
Aarnav Fashions was announced after market on 3 November 2026. On the reaction day, the stock fell 0.3% from its pre-results close of ₹30.52, while the Other Textile Products industry rose 1.2%. The stock therefore underperformed the industry by 1.6 percentage points on the reaction day.
Earlier reaction-day moves were mixed: the stock fell 4.9% on 28 July 2026 and rose 0.9% on 30 May 2026. No reaction-day, next-day or five-day market data were provided for the latest filing beyond the initial reaction-day move.
| After the filing | Stock | Other Textile Products median |
|---|---|---|
| Reaction day | −0.3% | +1.2% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 28 July 2026 | −4.9% |
| 30 May 2026 | +0.9% |
Source: MarketPing price-reaction measurement.
How did other Other Textile Products companies do?
Among 60 Other Textile Products companies compared, the median revenue growth was 23.2%. Nine peers grew slower than Aarnav Fashions and 51 grew faster than the company. Of 63 peers for which profit was compared, 43 reported higher profit.
| Aarnav Fashions revenue growth (YoY) | −4.1% |
|---|---|
| Median of 60 other Other Textile Products companies | +23.2% |
| Companies with slower revenue growth than Aarnav Fashions | 9 of 60 |
| Companies with faster revenue growth than Aarnav Fashions | 51 of 60 |
| Companies whose net profit rose | 43 of 63 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Aarnav Fashions' revenue in Q2 FY27?
Revenue from operations was ₹128.37 crore, down 4.1% from ₹133.80 crore in Q2 FY26 (standalone).
Did Aarnav Fashions make a profit in Q2 FY27?
Yes. Net profit was ₹1.65 crore, against a net profit of ₹2.37 crore in Q2 FY26.
What was Aarnav Fashions' EPS in Q2 FY27?
Basic earnings per share were ₹0.39, against ₹0.56 in Q2 FY26.
How did Aarnav Fashions shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.3% from the previous close; the median Other Textile Products stock moved +1.2%.
When did Aarnav Fashions announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for The Meeting Of The Board Of Directors Of The Company Has Been Scheduled To Be Held On Tuesday, November 03, 2026 At The Registered Office Of The Company. (BSE, 26 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Of Directors Held Today I.E. On November 03, 2026 (Which Commenced At 06.30 P.M. And Concluded At 07.15 P.M.) For Approval And Adoption Of Unaudited Financial Results And Appointment Of Additonal Executive Director (BSE, 3 November 2026) · PDF
- This Is To Inform You That The Board Meeting Held Today I.E. On November 03, 2026 (Which Commenced At 06.30 Pm And Concluded At 07.15 Pm) For Approval And Adoption Unaudited Financial Results For The Quarter / Six Months Ended On September 30, 2026 (BSE, 3 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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