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Dhunseri Ventures Q2 FY27 results: net profit ₹105.88 crore vs ₹13.27 crore loss, revenue up 148.3%
Dhunseri Ventures Limited reported consolidated Q2 FY27 revenue of ₹203.34 crore and a net profit of ₹105.88 crore for the July–September 2026 quarter, against a net loss of ₹13.27 crore in Q2 FY26. EBITDA was ₹46.53 crore, with a margin of 22.9%, while basic EPS was ₹30.23; the figures were lower than Q1 FY27.
Key points
- Consolidated revenue rose to ₹203.34 crore in Q2 FY27 from ₹81.90 crore in Q2 FY26, an increase of ₹121.44 crore.
- EBITDA was ₹46.53 crore in Q2 FY27, compared with a loss of ₹44.37 crore in Q2 FY26, while the margin improved to 22.9%.
- Net profit was ₹105.88 crore in Q2 FY27 against a net loss of ₹13.27 crore in Q2 FY26, and basic EPS was ₹30.23.
- In the first half of FY27, revenue was ₹434.93 crore, total income was ₹483.9 crore, and net profit was ₹280.18 crore.
- Flexible Packaging Films reported revenue of ₹165.38 crore and EBIT of ₹12.15 crore in Q2 FY27; the segment’s revenue grew 94.7% year on year.
How did Dhunseri Ventures perform in Q2 FY27?
Dhunseri Ventures reported consolidated revenue of ₹203.34 crore for Q2 FY27, up ₹121.44 crore from ₹81.90 crore in Q2 FY26. EBITDA was ₹46.53 crore, compared with a loss of ₹44.37 crore in the year-ago quarter, and the EBITDA margin improved from -54.2% to 22.9%. Profit before tax was ₹53.94 crore against a loss of ₹43.73 crore, while net profit was ₹105.88 crore against a net loss of ₹13.27 crore.
Against Q1 FY27, consolidated revenue fell ₹28.25 crore from ₹231.59 crore to ₹203.34 crore. EBITDA declined ₹44.51 crore from ₹91.04 crore to ₹46.53 crore, and its margin fell from 39.3% to 22.9%. Net profit was lower by ₹68.41 crore at ₹105.88 crore, compared with ₹174.29 crore in Q1 FY27, and basic EPS fell from ₹49.76 to ₹30.23.
The results are reported on a consolidated basis. On a standalone basis, revenue was ₹159.58 crore and net profit was ₹78.58 crore, against a profit before tax of ₹42.71 crore in Q2 FY26.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 203.34 | 231.59 | 81.90 | +148.3% | −12.2% |
| Other income | 24.42 | 24.55 | 22.55 | +8.3% | −0.5% |
| Total expenses | 173.82 | 150.70 | 148.18 | +17.3% | +15.3% |
| EBITDA | 46.53 | 91.04 | −44.37 | turned to profit | −48.9% |
| EBITDA margin | 22.9% | 39.3% | -54.2% | +77.1 pp | −16.4 pp |
| Profit before tax | 53.94 | 105.44 | −43.73 | turned to profit | −48.8% |
| Tax | 27.92 | 51.74 | 3.09 | +803.6% | −46.0% |
| Net profit | 105.88 | 174.29 | −13.27 | turned to profit | −39.3% |
| EPS (₹) | 30.23 | 49.76 | −3.05 | turned to profit | −39.2% |
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 Dhunseri Ventures' costs and profit?
Cost of materials rose to ₹120.84 crore in Q2 FY27 from ₹62.46 crore in Q2 FY26, an increase of ₹58.38 crore, while total expenses rose by ₹25.64 crore to ₹173.82 crore. Employee cost fell ₹4.81 crore to ₹7.44 crore, finance costs fell ₹4.23 crore to ₹10.44 crore, depreciation fell ₹0.68 crore to ₹6.57 crore, and other expenses fell ₹23.84 crore to ₹24.89 crore.
Other income increased ₹1.87 crore to ₹24.42 crore in Q2 FY27 from ₹22.55 crore in Q2 FY26. There was no exceptional item in either quarter. Tax expense rose ₹24.83 crore to ₹27.92 crore from ₹3.09 crore, while profit before tax moved from a loss of ₹43.73 crore to ₹53.94 crore and net profit moved from a loss of ₹13.27 crore to ₹105.88 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 120.84 | 62.46 | +58.38 | +93.5% |
| Employee cost | 7.44 | 12.25 | −4.81 | −39.3% |
| Finance costs | 10.44 | 14.67 | −4.23 | −28.8% |
| Depreciation | 6.57 | 7.25 | −0.68 | −9.4% |
| Other expenses | 24.89 | 48.73 | −23.84 | −48.9% |
| Total expenses | 173.82 | 148.18 | +25.64 | +17.3% |
| Other income | 24.42 | 22.55 | +1.87 | +8.3% |
| Tax | 27.92 | 3.09 | +24.83 | +803.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹434.93 crore, up ₹179.55 crore or 70.3% from ₹255.38 crore in H1 FY26. Total income rose ₹186.2 crore to ₹483.9 crore from ₹297.7 crore, while profit before tax increased ₹137.17 crore to ₹159.37 crore from ₹22.2 crore.
H1 FY27 net profit was ₹280.18 crore, up ₹222.64 crore or 386.9% from ₹57.54 crore in H1 FY26. Basic EPS increased ₹62.69 crore to ₹79.99 from ₹17.3.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 434.93 | 255.38 | +70.3% |
| Profit before tax | 159.37 | 22.20 | +617.9% |
| Net profit | 280.18 | 57.54 | +386.9% |
| EPS (₹) | 79.99 | 17.30 | +362.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹5,419.54 crore, compared with ₹4,877.92 crore at 31 March 2026. Total equity increased to ₹3,639.49 crore from ₹3,287.58 crore, while borrowings rose to ₹1,074.17 crore from ₹951.03 crore. Cash and cash equivalents were ₹45.6 crore, compared with ₹89.83 crore at the previous balance sheet date.
For the first half of FY27, operating cash flow was negative ₹49.07 crore, compared with negative ₹149.17 crore in H1 FY26. Investing cash flow was negative ₹98.52 crore, compared with negative ₹8.68 crore, and financing cash flow was ₹103.35 crore, compared with ₹123.53 crore. Capital expenditure was ₹191.31 crore, compared with ₹209.18 crore in the year-earlier period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 5,420 | 4,878 |
| Total equity | 3,639 | 3,288 |
| Borrowings | 1,074 | 951.03 |
| Cash and equivalents | 45.60 | 89.83 |
| Inventories | 49.45 | 47.12 |
| Trade receivables | 18.34 | 14.69 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −49.07 | −149.17 |
| Cash from investing | −98.52 | −8.68 |
| Cash from financing | 103.35 | 123.53 |
| Capital expenditure | 191.31 | 209.18 |
Source: Company's results filing (XBRL).
How has Dhunseri Ventures done over the last 8 quarters?
Revenue reached a peak of ₹231.59 crore in Q1 FY27 after a low of ₹70.96 crore in Q4 FY26. It declined to ₹203.34 crore in Q2 FY27, with revenue rising year on year in each of the last two quarters, according to the reported trend.
Net profit peaked at ₹174.29 crore in Q1 FY27 and fell to ₹105.88 crore in Q2 FY27, after a low of negative ₹87.43 crore in Q4 FY25. The EBITDA margin bottomed at -85.5% in Q4 FY26, recovered to 39.3% in Q1 FY27, and eased to 22.9% in Q2 FY27.
Which businesses drove the quarter?
Treasury Operations reported revenue and EBIT of ₹37.95 crore in Q2 FY27, compared with negative ₹15.7 crore of revenue and negative ₹37.12 crore of EBIT in the year-ago quarter. Its reported EBIT margin was 100.0%.
Flexible Packaging Films reported revenue of ₹165.38 crore in Q2 FY27, up 94.7% from ₹84.93 crore in Q2 FY26. Segment EBIT was ₹12.15 crore, compared with ₹0.72 crore in the year-ago quarter, and the reported EBIT margin was 7.3%.
Food and Beverages was classified as discontinued operations and reported no revenue or EBIT for Q2 FY27.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Treasury Operations | 37.95 | 37.95 | 100.0% | |
| Flexible Packaging Films | 165.38 | +94.7% | 12.15 | 7.3% |
| Food and Beverages (discontinued operations) | 0 | 0 |
Source: Company's results filing (XBRL segment data).
How did Dhunseri Ventures shares react?
Dhunseri Ventures’ stock was up 5.5% after 5 minutes and 15 minutes from the price when the filing appeared, based on a pre-results close of ₹283.6. It was up 2.7% after 30 minutes. The Packaging industry median moved down 1.2% on the reaction day, while no later session or one-month move was reported.
Earlier results-day reactions were mixed: the stock moved 6.3% on 10 August 2026, down 1.5% on 26 May 2026, down 4.8% on 11 February 2026 and down 5.3% on 11 November 2025. It moved up 8.0% on 11 August 2025, down 8.4% on 20 May 2025, up 6.2% on 7 February 2025 and down 4.4% on 9 November 2024.
| After the filing | Stock | Packaging median |
|---|---|---|
| 5 minutes | +5.5% | |
| 15 minutes | +5.5% | |
| 30 minutes | +2.7% |
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 |
|---|---|
| 10 August 2026 | +6.3% |
| 26 May 2026 | −1.5% |
| 11 February 2026 | −4.8% |
| 11 November 2025 | −5.3% |
| 11 August 2025 | +8.0% |
| 20 May 2025 | −8.4% |
| 7 February 2025 | +6.2% |
| 9 November 2024 | −4.4% |
Source: MarketPing price-reaction measurement.
How did other Packaging companies do?
Among 33 other Packaging companies that had filed for the quarter, the median revenue growth was 21.3%. Thirty-two peers grew more slowly than Dhunseri Ventures, while one grew faster. Profit increased for 20 of the 33 peers.
| Dhunseri Ventures revenue growth (YoY) | +148.3% |
|---|---|
| Median of 33 other Packaging companies | +21.3% |
| Companies with slower revenue growth than Dhunseri Ventures | 32 of 33 |
| Companies with faster revenue growth than Dhunseri Ventures | 1 of 33 |
| Companies whose net profit rose | 20 of 33 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Dhunseri Ventures' revenue in Q2 FY27?
Revenue from operations was ₹203.34 crore, up 148.3% from ₹81.90 crore in Q2 FY26 (consolidated).
Did Dhunseri Ventures make a profit in Q2 FY27?
Yes. Net profit was ₹105.88 crore, against a net loss of ₹13.27 crore in Q2 FY26.
What was Dhunseri Ventures' EPS in Q2 FY27?
Basic earnings per share were ₹30.23, against a loss of ₹3.05 in Q2 FY26.
When did Dhunseri Ventures announce its Q2 FY27 results?
On 6 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of The Un-Audited Financial Results Of The Company For The Quarter Ended 30Th September, 2026 (BSE, 29 October 2026) · PDF
- Outcome of Board Meeting (NSE, 6 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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