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Arrow Greentech Q2 FY27 results: net profit up 57.5% to ₹21.10 crore, revenue up 46.1%
Arrow Greentech Limited reported standalone revenue of ₹65.45 crore and net profit of ₹21.10 crore for Q2 FY27, up 46.1% and 57.5% from Q2 FY26, respectively. EBITDA rose to ₹26.80 crore, with the margin widening to 40.9%, although revenue and profit were lower than in Q1 FY27. The board also approved consolidated results for the quarter and half year ended 30 September 2026.
Key points
- Q2 FY27 standalone revenue was ₹65.45 crore, up 46.1% from ₹44.80 crore in Q2 FY26 but down 15.2% from ₹77.15 crore in Q1 FY27.
- EBITDA was ₹26.80 crore in Q2 FY27, up 56.5% year on year, while the EBITDA margin widened by 2.7 percentage points to 40.9%.
- Net profit was ₹21.10 crore, up 57.5% from ₹13.40 crore in Q2 FY26 but down 19.1% from ₹26.08 crore in Q1 FY27; basic EPS was ₹13.98.
- For H1 FY27, revenue rose 83.6% to ₹142.60 crore and net profit increased 108.9% to ₹47.18 crore.
- Arrow Greentech reported no borrowings and ₹2.28 crore of cash as at 30 September 2026, while H1 FY27 operating cash flow was ₹63.23 crore.
How did Arrow Greentech perform in Q2 FY27?
Arrow Greentech reported standalone revenue of ₹65.45 crore in Q2 FY27, up 46.1% from ₹44.80 crore in Q2 FY26 but down 15.2% from ₹77.15 crore in Q1 FY27. EBITDA rose 56.5% year on year to ₹26.80 crore, and its margin increased by 2.7 percentage points to 40.9%. Against Q1 FY27, EBITDA fell 21.4% and the margin declined by 3.3 percentage points.
Profit before tax was ₹28.33 crore, up 61.3% from ₹17.56 crore a year earlier but down 19.0% from ₹34.99 crore in the previous quarter. Net profit was ₹21.10 crore, compared with ₹13.40 crore in Q2 FY26 and ₹26.08 crore in Q1 FY27. Basic EPS was ₹13.98, versus ₹8.88 and ₹17.29, respectively. These figures are standalone; the board also approved consolidated results for the quarter and half year ended 30 September 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 65.45 | 77.15 | 44.80 | +46.1% | −15.2% |
| Other income | 2.76 | 2.01 | 1.91 | +44.5% | +37.3% |
| Total expenses | 39.88 | 44.17 | 29.15 | +36.8% | −9.7% |
| EBITDA | 26.80 | 34.09 | 17.13 | +56.5% | −21.4% |
| EBITDA margin | 40.9% | 44.2% | 38.2% | +2.7 pp | −3.3 pp |
| Profit before tax | 28.33 | 34.99 | 17.56 | +61.3% | −19.0% |
| Tax | 7.23 | 8.91 | 4.16 | +73.8% | −18.9% |
| Net profit | 21.10 | 26.08 | 13.40 | +57.5% | −19.1% |
| EPS (₹) | 13.98 | 17.29 | 8.88 | +57.4% | −19.1% |
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 Arrow Greentech's costs and profit?
Total expenses increased 36.8% year on year to ₹39.88 crore from ₹29.15 crore, with cost of materials up ₹8.98 crore to ₹26.11 crore, employee cost up ₹1.16 crore to ₹4.44 crore and other expenses up ₹1.23 crore to ₹6.59 crore. Finance costs declined ₹0.04 crore to ₹0.07 crore, while depreciation fell ₹0.21 crore to ₹1.16 crore. There was no exceptional item in either quarter.
Other income increased ₹0.85 crore to ₹2.76 crore from ₹1.91 crore, while tax expense rose ₹3.07 crore to ₹7.23 crore from ₹4.16 crore. From Q1 FY27, total expenses fell ₹4.29 crore to ₹39.88 crore and tax declined ₹1.68 crore to ₹7.23 crore, even as employee cost, finance costs, depreciation and other expenses were higher. The filing does not state why the year-on-year movements occurred.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 26.11 | 17.13 | +8.98 | +52.4% |
| Employee cost | 4.44 | 3.28 | +1.16 | +35.4% |
| Finance costs | 0.07 | 0.11 | −0.04 | −36.4% |
| Depreciation | 1.16 | 1.37 | −0.21 | −15.3% |
| Other expenses | 6.59 | 5.36 | +1.23 | +22.9% |
| Total expenses | 39.88 | 29.15 | +10.73 | +36.8% |
| Other income | 2.76 | 1.91 | +0.85 | +44.5% |
| Tax | 7.23 | 4.16 | +3.07 | +73.8% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Arrow Greentech reported standalone revenue of ₹142.60 crore, up 83.6% from ₹77.65 crore in H1 FY26. Total income rose 81.4% to ₹147.37 crore from ₹81.25 crore, while profit before tax increased 112.3% to ₹63.32 crore from ₹29.83 crore.
Net profit for the first half was ₹47.18 crore, up 108.9% from ₹22.59 crore in H1 FY26. Basic EPS rose to ₹31.27 from ₹14.97. The results covered the first half of FY27 and were approved by the board on 5 November 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 142.60 | 77.65 | +83.6% |
| Profit before tax | 63.32 | 29.83 | +112.3% |
| Net profit | 47.18 | 22.59 | +108.9% |
| EPS (₹) | 31.27 | 14.97 | +108.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As at 30 September 2026, total assets were ₹281.23 crore, up from ₹234.18 crore at 31 March 2026, while total equity rose to ₹261.23 crore from ₹221.23 crore. The company reported no borrowings at either balance sheet date. Cash increased to ₹2.28 crore from ₹1.06 crore, inventories to ₹27.1 crore from ₹22.24 crore and trade payables to ₹7.22 crore from ₹4.03 crore, while trade receivables fell to ₹16.97 crore from ₹30.97 crore.
H1 FY27 operating cash flow was ₹63.23 crore, above ₹36.85 crore in H1 FY26. Investing cash flow was negative ₹54.09 crore compared with negative ₹29.1 crore, and financing cash flow was negative ₹7.92 crore compared with negative ₹6.4 crore. Capital expenditure was ₹1.78 crore in H1 FY27 and ₹1.12 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 281.23 | 234.18 |
| Total equity | 261.23 | 221.23 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 2.28 | 1.06 |
| Inventories | 27.10 | 22.24 |
| Trade receivables | 16.97 | 30.97 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 63.23 | 36.85 |
| Cash from investing | −54.09 | −29.10 |
| Cash from financing | −7.92 | −6.40 |
| Capital expenditure | 1.78 | 1.12 |
Source: Company's results filing (XBRL).
How has Arrow Greentech done over the last 8 quarters?
Revenue reached its lowest point of ₹32.85 crore in Q1 FY26 and peaked at ₹77.15 crore in Q1 FY27, before declining to ₹65.45 crore in Q2 FY27. Profit after tax bottomed at ₹7.98 crore in Q4 FY26 and peaked at ₹26.08 crore in Q1 FY27, before falling to ₹21.10 crore in Q2 FY27. The EBITDA margin also moved from 44.2% in Q1 FY27 to 40.9% in the latest quarter. Revenue and profit each rose year on year in the last two quarters.
Which businesses drove the quarter?
Hightech Products reported Q2 FY27 revenue of ₹74.76 crore, up 53.3% from ₹48.78 crore in Q2 FY26, and EBIT of ₹32.44 crore against ₹19.1 crore a year earlier. Its reported EBIT margin was 43.4%. Hightech Products accounted for the higher revenue and EBIT contribution in the segment results.
Green Products reported revenue of ₹10.69 crore, down 13.0% from ₹12.29 crore in Q2 FY26, while EBIT declined to ₹3.34 crore from ₹3.51 crore. Its reported EBIT margin was 31.2%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Green Products | 10.69 | −13.0% | 3.34 | 31.2% |
| Hightech Products | 74.76 | +53.3% | 32.44 | 43.4% |
Source: Company's results filing (XBRL segment data).
How did other Packaging companies do?
Arrow Greentech was compared with 32 other Packaging companies that filed for the quarter as of 5 November 2026. Their median revenue growth was 20.2%; 26 peers grew slower than Arrow Greentech and 6 peers grew faster. Of the 32 peers for which profit was compared, 19 reported higher profit.
| Arrow Greentech revenue growth (YoY) | +46.1% |
|---|---|
| Median of 32 other Packaging companies | +20.2% |
| Companies with slower revenue growth than Arrow Greentech | 26 of 32 |
| Companies with faster revenue growth than Arrow Greentech | 6 of 32 |
| Companies whose net profit rose | 19 of 32 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Arrow Greentech's revenue in Q2 FY27?
Revenue from operations was ₹65.45 crore, up 46.1% from ₹44.80 crore in Q2 FY26 (standalone).
Did Arrow Greentech make a profit in Q2 FY27?
Yes. Net profit was ₹21.10 crore, against a net profit of ₹13.40 crore in Q2 FY26.
What was Arrow Greentech's EPS in Q2 FY27?
Basic earnings per share were ₹13.98, against ₹8.88 in Q2 FY26.
When did Arrow Greentech announce its Q2 FY27 results?
On 5 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for To Consider And Approve The Un-Audited Standalone And Consolidated Financial Results Along With The Limited Review Report Of The Auditors Thereon, For The Quarter And Half Year Ended September 30, 2026. (BSE, 31 October 2026) · PDF
- Outcome of Board Meeting (NSE, 5 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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