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Balkrishna Paper Mills Q2 FY27 results: net profit ₹1.86 crore vs ₹1.78 crore loss, revenue up 48.0%
Balkrishna Paper Mills Limited reported standalone Q2 FY27 revenue of ₹1.51 crore and a net profit of ₹1.86 crore, compared with revenue of ₹1.02 crore and a net loss of ₹1.78 crore in Q2 FY26. The quarter included an exceptional gain of ₹3.32 crore from discontinued operations, while continuing operations remained loss-making at the pre-tax level.
Key points
- Q2 FY27 revenue was ₹1.51 crore, up 48.0% from ₹1.02 crore in Q2 FY26, while total income rose 48.5% to ₹1.53 crore.
- The company reported a net profit of ₹1.86 crore in Q2 FY27 versus a net loss of ₹1.78 crore in Q2 FY26; basic EPS was ₹0.57 against negative ₹0.56.
- Continuing operations recorded a loss before tax of ₹1.44 crore, compared with ₹1.33 crore in Q2 FY26, despite revenue growth.
- The EBITDA margin improved to negative 12.3% from negative 17.8% in Q2 FY26, while EBITDA was negative ₹0.19 crore against negative ₹0.18 crore.
- For H1 FY27, revenue was ₹3.27 crore and the company reported a net profit of ₹0.06 crore, compared with revenue of ₹2.13 crore and a net loss of ₹3.55 crore in H1 FY26.
How did Balkrishna Paper Mills perform in Q2 FY27?
Balkrishna Paper Mills reported standalone revenue of ₹1.51 crore in Q2 FY27, up 48.0% from ₹1.02 crore in Q2 FY26. Total income was ₹1.53 crore, up 48.5%, while EBITDA was negative ₹0.19 crore, compared with negative ₹0.18 crore a year earlier. The EBITDA margin improved from negative 17.8% to negative 12.3%.
The company reported a net profit of ₹1.86 crore in Q2 FY27 against a net loss of ₹1.78 crore in Q2 FY26, and basic EPS was ₹0.57 against negative ₹0.56. Continuing operations recorded a loss before tax of ₹1.44 crore, compared with ₹1.33 crore in Q2 FY26, while an exceptional gain of ₹3.32 crore from discontinued operations was reported. In Q1 FY27, revenue was ₹1.76 crore, total income was ₹1.79 crore, EBITDA was negative ₹0.16 crore and the net loss was ₹1.80 crore; basic EPS was negative ₹0.56.
The filing presents standalone results for the quarter and half year ended 30 September 2026. The board approved the unaudited financial results on 30 October 2026, and the filing was accompanied by an independent auditors’ review report issued by M/s D S M R & Co, Chartered Accountants.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1.51 | 1.76 | 1.02 | +48.0% | −14.2% |
| Other income | 0.02 | 0.03 | 0.01 | +100.0% | −33.3% |
| Total expenses | 2.97 | 3.22 | 2.36 | +25.8% | −7.8% |
| EBITDA | −0.19 | −0.16 | −0.18 | ||
| EBITDA margin | -12.3% | -9.1% | -17.8% | +5.5 pp | −3.2 pp |
| Profit before tax | −1.44 | −1.43 | −1.33 | ||
| Tax | 0 | 0 | 0 | ||
| Net profit | 1.86 | −1.80 | −1.78 | turned to profit | turned to profit |
| EPS (₹) | 0.57 | −0.56 | −0.56 | turned to profit | turned to profit |
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 Balkrishna Paper Mills' costs and profit?
Total expenses from continuing operations increased 25.8% to ₹2.97 crore in Q2 FY27 from ₹2.36 crore in Q2 FY26. Finance costs rose 9.5% to ₹1.27 crore from ₹1.16 crore, while other expenses increased 30.0% to ₹0.13 crore from ₹0.10 crore. Employee cost was unchanged at ₹0.15 crore, and cost of materials and depreciation were unchanged at ₹0 crore.
Against Q1 FY27, total expenses fell 7.8% to ₹2.97 crore from ₹3.22 crore. Finance costs decreased 2.3% to ₹1.27 crore from ₹1.30 crore and employee cost fell 6.3% to ₹0.15 crore from ₹0.16 crore, while other expenses were unchanged at ₹0.13 crore. Other income declined 33.3% to ₹0.02 crore from ₹0.03 crore, and the loss before tax was ₹1.44 crore versus ₹1.43 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.15 | 0.15 | 0 | +0.0% |
| Finance costs | 1.27 | 1.16 | +0.11 | +9.5% |
| Depreciation | 0 | 0 | 0 | |
| Other expenses | 0.13 | 0.10 | +0.03 | +30.0% |
| Total expenses | 2.97 | 2.36 | +0.61 | +25.8% |
| Other income | 0.02 | 0.01 | +0.01 | +100.0% |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Balkrishna Paper Mills reported standalone revenue of ₹3.27 crore, up 53.5% from ₹2.13 crore in H1 FY26, and total income of ₹3.32 crore, up 53.7% from ₹2.16 crore. The loss before tax widened by ₹0.14 crore to ₹2.87 crore from ₹2.73 crore. The company reported a net profit of ₹0.06 crore compared with a net loss of ₹3.55 crore, and basic EPS was ₹0.01 against negative ₹1.10.
The half-year result included an exceptional gain of ₹3.32 crore from discontinued operations. The filing’s cash-flow statement shows net cash used in operating activities of ₹1.20 crore in H1 FY27, compared with ₹3.54 crore in H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 3.27 | 2.13 | +53.5% |
| Profit before tax | −2.87 | −2.73 | |
| Net profit | 0.06 | −3.55 | turned to profit |
| EPS (₹) | 0.01 | −1.10 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
For H1 FY27, net cash from investing activities was ₹12.25 crore, compared with ₹0.48 crore in H1 FY26. Net cash used in financing activities was ₹10.64 crore, compared with ₹4.84 crore of net cash from financing activities in H1 FY26. Net cash used in operating activities was ₹1.20 crore, compared with ₹3.54 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 7.51 | 17.85 |
| Total equity | −175.38 | −175.44 |
| Borrowings | 159.85 | 166.05 |
| Cash and equivalents | 0.61 | 0.19 |
| Inventories | 0 | 0 |
| Trade receivables | 1.24 | 0.21 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −1.20 | −3.54 |
| Cash from investing | 12.25 | 0.48 |
| Cash from financing | −10.64 | 4.84 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Balkrishna Paper Mills done over the last 8 quarters?
Revenue rose year on year in each of the last two quarters. It reached ₹1.76 crore in Q1 FY27 before easing to ₹1.51 crore in Q2 FY27; the highest quarterly revenue in the series was ₹1.76 crore and the lowest was ₹0.65 crore in Q3 FY25. The latest reading remained above ₹1.02 crore in Q2 FY26.
Profit turned positive in Q2 FY27 at ₹1.86 crore, after a net loss of ₹1.80 crore in Q1 FY27 and ₹1.78 crore in Q2 FY26. The highest profit in the series was ₹6.96 crore in Q4 FY25, while the lowest was ₹2.76 crore of loss in Q4 FY26. The EBITDA margin improved from negative 17.8% in Q2 FY26 to negative 12.3% in Q2 FY27, after negative 30.9% in Q4 FY26.
How did Balkrishna Paper Mills shares react?
| After the filing | Stock | Paper & Paper Products median |
|---|---|---|
| Reaction day | −2.6% | +0.3% |
| Next day | −6.2% | +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 |
|---|---|
| 12 August 2026 | −1.8% |
| 22 May 2026 | +0.0% |
| 7 February 2026 | +0.0% |
| 14 November 2025 | −0.6% |
| 13 August 2025 | +0.8% |
| 29 May 2025 | +4.2% |
| 11 February 2025 | −0.9% |
| 13 November 2024 | −2.5% |
Source: MarketPing price-reaction measurement.
How did other Paper & Paper Products companies do?
Twelve Paper & Paper Products companies were compared, with a median revenue growth of 21.3% as of 4 November 2026. Nine peers grew more slowly than Balkrishna Paper Mills and three grew faster. Fourteen peers were compared for profit, and 12 reported higher profit.
| Balkrishna Paper Mills revenue growth (YoY) | +48.0% |
|---|---|
| Median of 12 other Paper & Paper Products companies | +21.3% |
| Companies with slower revenue growth than Balkrishna Paper Mills | 9 of 12 |
| Companies with faster revenue growth than Balkrishna Paper Mills | 3 of 12 |
| Companies whose net profit rose | 12 of 14 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Balkrishna Paper Mills' revenue in Q2 FY27?
Revenue from operations was ₹1.51 crore, up 48.0% from ₹1.02 crore in Q2 FY26 (standalone).
Did Balkrishna Paper Mills make a profit in Q2 FY27?
Yes. Net profit was ₹1.86 crore, against a net loss of ₹1.78 crore in Q2 FY26.
What was Balkrishna Paper Mills' EPS in Q2 FY27?
Basic earnings per share were ₹0.57, against a loss of ₹0.56 in Q2 FY26.
How did Balkrishna Paper Mills shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.6% from the previous close; the median Paper & Paper Products stock moved +0.3%.
When did Balkrishna Paper Mills announce its Q2 FY27 results?
On 30 October 2026, in a filing to the BSE.
Sources
- Board Meeting Outcome for 1. Outcome Of Board Meeting Held On 30Th October, 2026. 2. Un-Audited Financial Results For The Quarter And Half Year Ended September 30, 2026. (BSE, 30 October 2026) · PDF
- 1. Outcome Of Board Meeting Held On 30Th October, 2026. 2. Un-Audited Financial Results For The Quarter And Half Year Ended September 30, 2026. (BSE, 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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