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Andhra Paper Q2 FY27 results: net profit ₹4.27 crore vs ₹20.26 crore loss, revenue up 17.7%
Andhra Paper Limited reported standalone revenue of ₹426.07 crore and a net profit of ₹4.27 crore for Q2 FY27. Revenue rose from the year-ago quarter, while profit improved from a net loss of ₹20.26 crore; against Q1 FY27, however, revenue increased and profit fell.
Key points
- Revenue was ₹426.07 crore in Q2 FY27, up 17.7% from ₹362.08 crore in Q2 FY26 and 8.2% from ₹393.77 crore in Q1 FY27.
- EBITDA was ₹28.84 crore at a 6.8% margin, versus a loss of ₹6.81 crore and a -1.9% margin in Q2 FY26.
- The company reported a net profit of ₹4.27 crore and basic EPS of ₹0.21, against a net loss of ₹20.26 crore and EPS of -1.02 in Q2 FY26.
- Against Q1 FY27, net profit fell 85.9% to ₹4.27 crore from ₹30.32 crore, and EBITDA margin declined 5.6 percentage points to 6.8% from 12.4%.
- In H1 FY27, revenue was ₹819.84 crore, up 8.5%, and net profit was ₹34.59 crore versus ₹1.04 crore in H1 FY26.
How did Andhra Paper perform in Q2 FY27?
Andhra Paper reported standalone revenue of ₹426.07 crore for Q2 FY27, up 17.7% from ₹362.08 crore in Q2 FY26 and 8.2% from ₹393.77 crore in Q1 FY27. EBITDA was ₹28.84 crore, compared with a loss of ₹6.81 crore in Q2 FY26, while the margin moved 8.7 percentage points to 6.8% from -1.9%.
The company reported a net profit of ₹4.27 crore and basic EPS of ₹0.21 for Q2 FY27, versus a net loss of ₹20.26 crore and EPS of -1.02 in Q2 FY26. Compared with Q1 FY27, net profit fell 85.9% from ₹30.32 crore, PBT fell 85.9% from ₹40.55 crore, and EPS fell 86.2% from ₹1.52. EBITDA margin declined 5.6 percentage points from 12.4%.
The results shown here are standalone. The company’s filing approved the unaudited financial results for the quarter and half-year ended September 30, 2026; no consolidated figures were provided in the supplied information.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 426.07 | 393.77 | 362.08 | +17.7% | +8.2% |
| Other income | 9.82 | 21.65 | 10.18 | −3.5% | −54.6% |
| Total expenses | 430.17 | 374.88 | 400.01 | +7.5% | +14.7% |
| EBITDA | 28.84 | 48.79 | −6.81 | turned to profit | −40.9% |
| EBITDA margin | 6.8% | 12.4% | -1.9% | +8.7 pp | −5.6 pp |
| Profit before tax | 5.72 | 40.55 | −27.75 | turned to profit | −85.9% |
| Tax | 1.45 | 10.23 | −7.49 | −85.8% | |
| Net profit | 4.27 | 30.32 | −20.26 | turned to profit | −85.9% |
| EPS (₹) | 0.21 | 1.52 | −1.02 | turned to profit | −86.2% |
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 Andhra Paper's costs and profit?
Total expenses were ₹430.17 crore in Q2 FY27, up ₹30.16 crore or 7.5% from ₹400.01 crore in Q2 FY26. Cost of materials increased ₹14.26 crore to ₹259.48 crore, employee cost rose ₹4.50 crore to ₹48.07 crore, finance costs rose ₹1.14 crore to ₹5.34 crore, and depreciation increased ₹0.69 crore to ₹27.60 crore.
Other expenses declined ₹4.36 crore to ₹78.08 crore from ₹82.44 crore, while other income fell ₹0.36 crore to ₹9.82 crore from ₹10.18 crore. There was no exceptional item in either quarter. The tax charge moved from a credit of ₹7.49 crore in Q2 FY26 to ₹1.45 crore in Q2 FY27.
The filing did not state why costs, income or tax changed. The figures show that higher operating expenses, lower other income and a higher tax charge accompanied the year-on-year improvement from a loss to profit.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 259.48 | 245.22 | +14.26 | +5.8% |
| Employee cost | 48.07 | 43.57 | +4.50 | +10.3% |
| Finance costs | 5.34 | 4.20 | +1.14 | +27.1% |
| Depreciation | 27.60 | 26.91 | +0.69 | +2.6% |
| Other expenses | 78.08 | 82.44 | −4.36 | −5.3% |
| Total expenses | 430.17 | 400.01 | +30.16 | +7.5% |
| Other income | 9.82 | 10.18 | −0.36 | −3.5% |
| Tax | 1.45 | −7.49 | +8.94 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, Andhra Paper reported revenue of ₹819.84 crore, up ₹64.34 crore or 8.5% from ₹755.50 crore in H1 FY26. Total income was ₹851.32 crore, up ₹58.41 crore or 7.4% from ₹792.91 crore.
H1 FY27 PBT was ₹46.27 crore, compared with ₹1.42 crore in H1 FY26, while net profit was ₹34.59 crore versus ₹1.04 crore. Basic EPS was ₹1.74 for the first half, compared with ₹0.05 in H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 819.84 | 755.50 | +8.5% |
| Profit before tax | 46.27 | 1.42 | +3158.5% |
| Net profit | 34.59 | 1.04 | +3226.0% |
| EPS (₹) | 1.74 | 0.05 | +3380.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At September 30, 2026, total assets were ₹2,633.30 crore, compared with ₹2,538.09 crore at March 31, 2026. Total equity was ₹1,962.70 crore, compared with ₹1,939.35 crore, while borrowings rose to ₹287.33 crore from ₹232.15 crore and cash and cash equivalents increased to ₹20.26 crore from ₹16.17 crore.
Inventories fell to ₹235.90 crore from ₹263.07 crore at March 31, 2026, trade receivables declined to ₹131.37 crore from ₹156.07 crore, and trade payables rose to ₹172.07 crore from ₹159.24 crore.
For H1 FY27, operating cash flow was ₹176.87 crore, compared with ₹64.09 crore in H1 FY26. Investing cash flow was negative ₹209.96 crore versus negative ₹5.41 crore, financing cash flow was ₹37.18 crore versus negative ₹55.11 crore, and capital expenditure was ₹107.42 crore compared with ₹119.43 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,633 | 2,538 |
| Total equity | 1,963 | 1,939 |
| Borrowings | 287.33 | 232.15 |
| Cash and equivalents | 20.26 | 16.17 |
| Inventories | 235.90 | 263.07 |
| Trade receivables | 131.37 | 156.07 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 176.87 | 64.09 |
| Cash from investing | −209.96 | −5.41 |
| Cash from financing | 37.18 | −55.11 |
| Capital expenditure | 107.42 | 119.43 |
Source: Company's results filing (XBRL).
How has Andhra Paper done over the last 8 quarters?
Revenue peaked at ₹527.05 crore in Q4 FY26 and bottomed at ₹362.08 crore in Q2 FY26. It fell to ₹393.77 crore in Q1 FY27 before rising to ₹426.07 crore in Q2 FY27, with revenue higher year on year in each of the last four quarters.
Profit was highest at ₹30.32 crore in Q1 FY27 and bottomed with a net loss of ₹20.26 crore in Q2 FY26. It then declined to ₹4.27 crore in Q2 FY27. EBITDA margin peaked at 12.4% in Q1 FY27 and bottomed at -1.9% in Q2 FY26, before easing to 6.8% in Q2 FY27.
How did Andhra Paper shares react?
Andhra Paper filed the results after market hours on October 30, 2026. The stock was down 0.9% after 5 minutes, up 1.6% after 15 minutes and up 0.5% after 30 minutes from the price when the filing appeared.
On the reaction day, the stock closed down 2.4% from the previous close of ₹66.00. By the next day’s close, it was down 4.1% from that pre-results close. The Paper & Paper Products industry median was up 0.3% on the reaction day and 0.2% by the next day’s close, leaving Andhra Paper 2.7 percentage points behind the sector on the reaction day and 4.3 percentage points behind by the next day’s close.
Earlier reaction-day moves were down 1.9% on August 4, 2026, up 2.7% on May 5, 2026 and down 2.8% on February 4, 2026. The most recent five-session move was not provided.
| After the filing | Stock | Paper & Paper Products median |
|---|---|---|
| 5 minutes | −0.9% | |
| 15 minutes | +1.6% | |
| 30 minutes | +0.5% | |
| Reaction day | −2.4% | +0.3% |
| Next day | −4.1% | +0.2% |
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 |
|---|---|
| 4 August 2026 | −1.9% |
| 5 May 2026 | +2.7% |
| 4 February 2026 | −2.8% |
| 6 November 2025 | −4.2% |
| 5 August 2025 | −0.7% |
| 6 February 2025 | −3.6% |
| 4 November 2024 | −1.3% |
| 5 August 2024 | −3.0% |
Source: MarketPing price-reaction measurement.
How did other Paper & Paper Products companies do?
Twelve other Paper & Paper Products companies had filed for the quarter by November 4, 2026. Their median revenue growth was 26.2%, and five grew more slowly than Andhra Paper while seven grew faster; Andhra Paper’s revenue growth was 17.7%.
All 12 companies with comparable profit figures reported higher profit. Fourteen peer companies were compared on profit.
| Andhra Paper revenue growth (YoY) | +17.7% |
|---|---|
| Median of 12 other Paper & Paper Products companies | +26.2% |
| Companies with slower revenue growth than Andhra Paper | 5 of 12 |
| Companies with faster revenue growth than Andhra Paper | 7 of 12 |
| Companies whose net profit rose | 12 of 14 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Andhra Paper's revenue in Q2 FY27?
Revenue from operations was ₹426.07 crore, up 17.7% from ₹362.08 crore in Q2 FY26 (standalone).
Did Andhra Paper make a profit in Q2 FY27?
Yes. Net profit was ₹4.27 crore, against a net loss of ₹20.26 crore in Q2 FY26.
What was Andhra Paper's EPS in Q2 FY27?
Basic earnings per share were ₹0.21, against a loss of ₹1.02 in Q2 FY26.
How did Andhra Paper shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.4% from the previous close; the median Paper & Paper Products stock moved +0.3%.
When did Andhra Paper announce its Q2 FY27 results?
On 30 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Considering Un-Audited Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 19 October 2026) · PDF
- Outcome of Board Meeting (NSE, 30 October 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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