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Borana Weaves Q2 FY27 results: net profit down 2.9% to ₹16.16 crore, revenue up 44.7%
Borana Weaves Limited reported standalone Q2 FY27 revenue of ₹138.20 crore, up 44.7% from Q2 FY26, while EBITDA rose 17.1% to ₹25.37 crore. Profit after tax was ₹16.16 crore, down 2.9%, and basic EPS was ₹6.06, down 4.0%, as the EBITDA margin fell to 18.4% from 22.7%.
Key points
- Revenue rose 44.7% year on year to ₹138.20 crore in Q2 FY27.
- EBITDA increased 17.1% to ₹25.37 crore, but the margin declined to 18.4% from 22.7%.
- PAT was ₹16.16 crore, down 2.9%, and basic EPS was ₹6.06, down 4.0%.
- H1 FY27 revenue rose 35.4% to ₹239.04 crore, while PAT increased 13.1% to ₹32.64 crore.
- The board approved 192 additional Water Jet Looms for Unit 4, taking planned additions to 384 looms.
How did Borana Weaves perform in Q2 FY27?
Borana Weaves reported standalone revenue from operations of ₹138.20 crore in Q2 FY27, up ₹42.70 crore or 44.7% from ₹95.50 crore in Q2 FY26 and up ₹37.36 crore or 37.0% from ₹100.84 crore in Q1 FY27. EBITDA rose 17.1% to ₹25.37 crore from ₹21.66 crore a year earlier, but was down ₹0.47 crore or 1.8% from ₹25.84 crore in the previous quarter. The EBITDA margin fell to 18.4% from 22.7% in Q2 FY26 and 25.6% in Q1 FY27.
PAT was ₹16.16 crore in Q2 FY27, down ₹0.49 crore or 2.9% from ₹16.65 crore in Q2 FY26 and down ₹0.32 crore or 1.9% from ₹16.48 crore in Q1 FY27. Basic EPS was ₹6.06, compared with ₹6.31 a year earlier and ₹6.18 in the previous quarter. PBT was ₹19.70 crore, compared with ₹20.45 crore in Q2 FY26 and ₹19.97 crore in Q1 FY27.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 138.20 | 100.84 | 95.50 | +44.7% | +37.0% |
| Other income | 1.11 | 0.86 | 3.85 | −71.2% | +29.1% |
| Total expenses | 119.61 | 81.73 | 78.91 | +51.6% | +46.3% |
| EBITDA | 25.37 | 25.84 | 21.66 | +17.1% | −1.8% |
| EBITDA margin | 18.4% | 25.6% | 22.7% | −4.3 pp | −7.2 pp |
| Profit before tax | 19.70 | 19.97 | 20.45 | −3.7% | −1.4% |
| Tax | 3.54 | 3.49 | 3.79 | −6.6% | +1.4% |
| Net profit | 16.16 | 16.48 | 16.65 | −2.9% | −1.9% |
| EPS (₹) | 6.06 | 6.18 | 6.31 | −4.0% | −1.9% |
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 Borana Weaves' costs and profit?
Total expenses rose ₹40.70 crore or 51.6% from ₹78.91 crore in Q2 FY26 to ₹119.61 crore in Q2 FY27, exceeding the increase in revenue. Cost of materials consumed was ₹88.58 crore, up ₹32.61 crore or 58.3%, while employee cost rose ₹4.09 crore or 62.6% to ₹10.62 crore. Other expenses increased ₹3.86 crore or 37.5% to ₹14.15 crore, and depreciation and amortisation rose ₹1.91 crore or 45.6% to ₹6.10 crore. Finance costs declined ₹0.20 crore or 22.7% to ₹0.68 crore.
Other income fell ₹2.74 crore or 71.2% to ₹1.11 crore from ₹3.85 crore in Q2 FY26. There was no exceptional item in either quarter. Tax expense was ₹3.54 crore, down ₹0.25 crore or 6.6% from ₹3.79 crore, but the lower other income and higher operating expenses left PBT at ₹19.70 crore. Against Q1 FY27, total expenses rose ₹37.88 crore, other income increased ₹0.25 crore, and tax rose ₹0.05 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 88.58 | 55.97 | +32.61 | +58.3% |
| Employee cost | 10.62 | 6.53 | +4.09 | +62.6% |
| Finance costs | 0.68 | 0.88 | −0.20 | −22.7% |
| Depreciation | 6.10 | 4.19 | +1.91 | +45.6% |
| Other expenses | 14.15 | 10.29 | +3.86 | +37.5% |
| Total expenses | 119.61 | 78.91 | +40.70 | +51.6% |
| Other income | 1.11 | 3.85 | −2.74 | −71.2% |
| Tax | 3.54 | 3.79 | −0.25 | −6.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Borana Weaves reported standalone revenue of ₹239.04 crore, up ₹62.54 crore or 35.4% from ₹176.50 crore in H1 FY26. Total income rose ₹59.53 crore or 32.8% to ₹241.01 crore from ₹181.48 crore. PBT increased ₹4.72 crore or 13.5% to ₹39.67 crore, while PAT rose ₹3.78 crore or 13.1% to ₹32.64 crore.
Basic EPS for the first half was ₹12.25, up ₹1.38 or 12.7% from ₹10.87 in H1 FY26. The results were approved by the board on 2 November 2026, and the statutory auditors’ limited review report did not identify any material misstatement.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 239.04 | 176.50 | +35.4% |
| Profit before tax | 39.67 | 34.95 | +13.5% |
| Net profit | 32.64 | 28.86 | +13.1% |
| EPS (₹) | 12.25 | 10.87 | +12.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets rose to ₹411.43 crore as of 30 September 2026 from ₹366.37 crore on 31 March 2026, while total equity increased to ₹314.13 crore from ₹281.58 crore. Borrowings were ₹78.41 crore, compared with ₹69.50 crore, and cash and cash equivalents were negative ₹0.31 crore against ₹1.68 crore. Inventories increased to ₹53.28 crore from ₹47.33 crore, trade receivables to ₹35.03 crore from ₹23.64 crore, and trade payables to ₹3.83 crore from ₹0.23 crore.
H1 FY27 operating cash flow was ₹10.56 crore, compared with negative ₹56.37 crore in H1 FY26. Investing cash flow was negative ₹19.94 crore against negative ₹56.02 crore, while financing cash flow was ₹7.38 crore compared with ₹117.58 crore. Capital expenditure was ₹20.05 crore in H1 FY27, against ₹56.02 crore in the year-earlier period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 411.43 | 366.37 |
| Total equity | 314.13 | 281.58 |
| Borrowings | 78.41 | 69.50 |
| Cash and equivalents | −0.31 | 1.68 |
| Inventories | 53.28 | 47.33 |
| Trade receivables | 35.03 | 23.64 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 10.56 | −56.37 |
| Cash from investing | −19.94 | −56.02 |
| Cash from financing | 7.38 | 117.58 |
| Capital expenditure | 20.05 | 56.02 |
Source: Company's results filing (XBRL).
How has Borana Weaves done over the last 7 quarters?
Revenue rose in each of the last three quarters on a year-on-year basis and reached a series high of ₹138.20 crore in Q2 FY27, up from ₹100.84 crore in Q1 FY27. The preceding quarterly revenue peak was ₹111.36 crore in Q3 FY26, while the period low was ₹78.70 crore in Q4 FY25. PAT was ₹16.16 crore in Q2 FY27, below ₹16.48 crore in Q1 FY27 and the series peak of ₹18.55 crore in Q3 FY26.
The EBITDA margin reached 25.6% in Q1 FY27, the highest in the seven-quarter trend, before falling to 18.4% in Q2 FY27. Its lowest point was 21.1% in Q1 FY26. The latest quarter therefore showed higher revenue but lower profit and margin than the preceding quarter.
What else did the company announce?
The board approved an expansion at Unit 4 involving 192 additional Water Jet Looms and necessary ancillary machinery, targeting commercial production by March 2027. The filing states that total planned additions at Unit 4 would rise to 384 Water Jet Looms, with 192 looms targeted for December 2026 and 192 for March 2027. The investment is approximately ₹49.92 crore and will be funded through internal accruals and debt.
In a separate same-day filing, the company said commissioning of the 9.9 MW Hybrid Power Project at Kalikanagar, Gujarat, had been delayed further. The first wind-turbine location and the 7.65 MW solar component were tentatively expected before 30 November 2026, the second location by 31 December 2026, and the third by 31 March 2027. The company attributed the delay to high wind speeds, heavy monsoon conditions and delays in obtaining shutdowns of existing 33 kV and 11 kV lines.
The board also approved an updated registered-office address with immediate effect and noted the appointment of Finportal Investments Private Limited as the company’s investor relations agency. No dividend or fund-raising approval was disclosed in the same-day filings.
What did Borana Weaves' management say?
In its 4 November 2026 investor presentation, management said delayed POY imports led to domestic sourcing at 30-40% higher costs, while pre-booked orders at predetermined prices limited immediate cost pass-through. Management also said Q2 EBITDA margin fell to 18.36% from 25.63% in Q1 FY27 and 22.68% in Q2 FY26, while the PAT margin fell to 11.69% from 16.34% and 17.47%, respectively.
Management said the first tranche of the Unit 4 expansion comprises 192 high-speed Water-Jet Looms and three texturising machines, with commercial production targeted for December 2026. It said the additional 192 looms were targeted for March 2027, taking planned additional capacity to 384 high-speed Water-Jet Looms. Management expects 70-80% of current power requirements to be met through renewable energy upon completion of the expansion.
Management said a 19.79 MW solar-wind hybrid expansion was underway, comprising 9.89 MW of solar and 9.90 MW of wind, alongside the operational 3.55 MW rooftop solar plant. It also identified delayed imports, higher domestic input costs, limited immediate pass-through and debt-funded expansion as risks. The presentation noted a 98% repeat-order rate and more than 1,000 customers, but provided no additional analyst guidance.
How did Borana Weaves shares react?
Borana Weaves’ shares fell 5.0% within 5 minutes, 5.3% within 15 minutes and 2.8% within 30 minutes after the after-market filing on 2 November 2026. By the reaction-day close, the stock was down 4.0% from its pre-results close of ₹217.80; by the next day’s close, it was down 1.7% from that close. The Other Textile Products industry median was up 0.1% on the reaction day and 1.5% by the next day, leaving Borana Weaves 4.1 percentage points behind the industry median on reaction day and 3.2 percentage points behind by the next day’s close. Earlier reaction-day moves were 0.6% on 11 August 2026, negative 3.3% on 14 May 2026, negative 0.2% on 22 January 2026 and 2.9% on 14 November 2025.
| After the filing | Stock | Other Textile Products median |
|---|---|---|
| 5 minutes | −5.0% | |
| 15 minutes | −5.3% | |
| 30 minutes | −2.8% | |
| Reaction day | −4.0% | +0.1% |
| Next day | −1.7% | +1.5% |
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 |
|---|---|
| 11 August 2026 | +0.6% |
| 14 May 2026 | −3.3% |
| 22 January 2026 | −0.2% |
| 14 November 2025 | +2.9% |
Source: MarketPing price-reaction measurement.
How did other Other Textile Products companies do?
Sixty-one Other Textile Products companies were compared for revenue growth, with a median revenue growth of 22.4%. Among these peers, 14 grew faster than Borana Weaves and 47 grew slower than Borana Weaves. Of the 64 peers for which profit was compared, 44 reported higher profit.
| Borana Weaves revenue growth (YoY) | +44.7% |
|---|---|
| Median of 61 other Other Textile Products companies | +22.4% |
| Companies with slower revenue growth than Borana Weaves | 47 of 61 |
| Companies with faster revenue growth than Borana Weaves | 14 of 61 |
| Companies whose net profit rose | 44 of 64 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Borana Weaves' revenue in Q2 FY27?
Revenue from operations was ₹138.20 crore, up 44.7% from ₹95.50 crore in Q2 FY26 (standalone).
Did Borana Weaves make a profit in Q2 FY27?
Yes. Net profit was ₹16.16 crore, against a net profit of ₹16.65 crore in Q2 FY26.
What was Borana Weaves' EPS in Q2 FY27?
Basic earnings per share were ₹6.06, against ₹6.31 in Q2 FY26.
How did Borana Weaves shares react to the Q2 FY27 results?
On the reaction day the stock moved −4.0% from the previous close; the median Other Textile Products stock moved +0.1%.
When did Borana Weaves announce its Q2 FY27 results?
On 2 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of The Agenda Items As Per Meeting Board Intimation Attached. (BSE, 27 October 2026) · PDF
- Financial Results For Quarter And Six Months Ended 30Th September, 2026 (BSE, 2 November 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting (BSE, 2 November 2026) · PDF
- The investor presentation (4 November 2026)
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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