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Faze Three Q2 FY27 results: net profit ₹15.46 crore vs ₹5.20 crore loss, revenue up 27.8%
Faze Three Limited reported consolidated Q2 FY27 revenue of ₹264.58 crore, up 27.8% from Q2 FY26 and 15.3% from Q1 FY27. EBITDA rose to ₹32.36 crore, while the company moved from a net loss of ₹5.20 crore to a net profit of ₹15.46 crore; basic EPS was ₹6.37.
Key points
- Consolidated Q2 FY27 revenue was ₹264.58 crore, up 27.8% from Q2 FY26 and 15.3% from Q1 FY27.
- EBITDA was ₹32.36 crore, up 507.1% year on year and 51.4% from Q1 FY27; EBITDA margin rose to 12.2%.
- Profit before tax was ₹20.97 crore, against a net loss of ₹6.65 crore in Q2 FY26; net profit was ₹15.46 crore and basic EPS was ₹6.37.
- In H1 FY27, revenue was ₹493.97 crore, total income was ₹502.92 crore, profit before tax was ₹34.35 crore and net profit was ₹25.1 crore.
- Management expects FY27 revenue growth of around 20%+ and said the current capex cycle is expected to conclude in FY27.
How did Faze Three perform in Q2 FY27?
Faze Three’s consolidated revenue for Q2 FY27, the July–September 2026 quarter, was ₹264.58 crore. Revenue rose 27.8% from ₹206.98 crore in Q2 FY26 and 15.3% from ₹229.39 crore in Q1 FY27. On the standalone basis, revenue was ₹247.34 crore, with profit before tax of ₹11.74 crore and profit after tax of ₹4.36 crore for the quarter.
Consolidated EBITDA was ₹32.36 crore, compared with ₹5.33 crore in Q2 FY26 and ₹21.38 crore in Q1 FY27. EBITDA margin was 12.2%, up 9.6 percentage points from 2.6% a year earlier and 2.9 percentage points from 9.3% in the previous quarter.
Profit before tax was ₹20.97 crore, compared with a net loss of ₹6.65 crore in Q2 FY26 and ₹13.38 crore in Q1 FY27. Net profit was ₹15.46 crore, against a net loss of ₹5.20 crore a year earlier and ₹9.64 crore in the previous quarter; basic EPS was ₹6.37.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 264.58 | 229.39 | 206.98 | +27.8% | +15.3% |
| Other income | 3.24 | 5.71 | 0.24 | +1250.0% | −43.3% |
| Total expenses | 246.85 | 221.72 | 213.87 | +15.4% | +11.3% |
| EBITDA | 32.36 | 21.38 | 5.33 | +507.1% | +51.4% |
| EBITDA margin | 12.2% | 9.3% | 2.6% | +9.6 pp | +2.9 pp |
| Profit before tax | 20.97 | 13.38 | −6.65 | turned to profit | +56.7% |
| Tax | 5.51 | 3.74 | −1.45 | +47.3% | |
| Net profit | 15.46 | 9.64 | −5.20 | turned to profit | +60.4% |
| EPS (₹) | 6.37 | 3.96 | −2.14 | turned to profit | +60.9% |
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 Faze Three's costs and profit?
Total expenses were ₹246.85 crore, up 15.4% from ₹213.87 crore in Q2 FY26 and 11.3% from ₹221.72 crore in Q1 FY27. Cost of materials was the largest reported expense at ₹157.69 crore, up 33.8% year on year; employee cost was ₹36.62 crore, finance costs were ₹5.78 crore and depreciation was ₹8.85 crore.
Other income was ₹3.24 crore, compared with ₹0.24 crore in Q2 FY26 and ₹5.71 crore in Q1 FY27. There was no exceptional item in Q2 FY27, Q2 FY26 or Q1 FY27. Tax expense was ₹5.51 crore in Q2 FY27, against a tax credit of ₹1.45 crore in Q2 FY26 and tax expense of ₹3.74 crore in Q1 FY27.
The investor presentation attributed the margin recovery to growth and operating leverage, ongoing repricing with customers and better USDINR realisation. The presentation also referred to a one-time MTM impact on USDINR forwards in Q2 FY26.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 157.69 | 117.82 | +39.87 | +33.8% |
| Employee cost | 36.62 | 30.96 | +5.66 | +18.3% |
| Finance costs | 5.78 | 4.56 | +1.22 | +26.8% |
| Depreciation | 8.85 | 7.66 | +1.19 | +15.5% |
| Other expenses | 59.57 | 62.14 | −2.57 | −4.1% |
| Total expenses | 246.85 | 213.87 | +32.98 | +15.4% |
| Other income | 3.24 | 0.24 | +3 | +1250.0% |
| Tax | 5.51 | −1.45 | +6.96 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹493.97 crore, up 17.9% from ₹418.95 crore in H1 FY26. Total income was ₹502.92 crore, compared with ₹423.07 crore, an increase of 18.9%.
Profit before tax rose from ₹10.47 crore in H1 FY26 to ₹34.35 crore in H1 FY27. Net profit increased from ₹7.57 crore to ₹25.1 crore, while basic EPS was ₹10.34 crore compared with ₹3.12 crore.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 493.97 | 418.95 | +17.9% |
| Profit before tax | 34.35 | 10.47 | +228.1% |
| Net profit | 25.10 | 7.57 | +231.6% |
| EPS (₹) | 10.34 | 3.12 | +231.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹952.32 crore, compared with ₹818.99 crore at 31 March 2026. Total equity was ₹480.0 crore, compared with ₹452.3 crore, while borrowings were ₹369.81 crore against ₹269.96 crore. Cash was ₹22.73 crore, compared with ₹13.13 crore.
Inventories increased to ₹222.32 crore from ₹188.29 crore, trade receivables to ₹115.43 crore from ₹114.63 crore and trade payables fell to ₹30.55 crore from ₹33.16 crore. For H1 FY27, operating cash flow was ₹15.83 crore, compared with ₹36.54 crore in H1 FY26.
Investing cash flow was negative ₹94.82 crore in H1 FY27, compared with negative ₹66.07 crore a year earlier, while financing cash flow was ₹81.99 crore against ₹30.25 crore. Capital expenditure was ₹94.43 crore, compared with ₹66.39 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 952.32 | 818.99 |
| Total equity | 480 | 452.30 |
| Borrowings | 369.81 | 269.96 |
| Cash and equivalents | 22.73 | 13.13 |
| Inventories | 222.32 | 188.29 |
| Trade receivables | 115.43 | 114.63 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 15.83 | 36.54 |
| Cash from investing | −94.82 | −66.07 |
| Cash from financing | 81.99 | 30.25 |
| Capital expenditure | 94.43 | 66.39 |
Source: Company's results filing (XBRL).
How has Faze Three done over the last 8 quarters?
Revenue reached its highest level of the listed period at ₹264.58 crore in Q2 FY27, above ₹277.18 crore in Q4 FY26. Revenue had reached its lowest level at ₹178.19 crore in Q3 FY25 and has risen in each of the last eight quarters on a year-on-year basis.
Net profit was highest at ₹19.6 crore in Q4 FY26, while the lowest was a net loss of ₹5.2 crore in Q2 FY26. In Q2 FY27, net profit was ₹15.46 crore. EBITDA margin peaked at 12.3% in Q4 FY26 and bottomed at 2.6% in Q2 FY26, before recovering to 12.2% in Q2 FY27.
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. The results were accompanied by a limited review report from MSKA & Associates, the statutory auditors.
The company also submitted an investor presentation with the results. The filing did not report a dividend, a fund raise or an appointment around the result.
What did Faze Three's management say?
Management said FY27 revenue growth was expected to be around 20%+. It also said the current capex cycle was expected to conclude in FY27, taking installed revenue capacity to INR 1,950+ Cr by March 2027, and that new product categories were planned to go live in FY28.
Management said revenue could nearly double without significant incremental capex from here on, and that the concluding FY27 capex cycle would add further headroom. It also expected revenue momentum in FY28 to be stronger than FY27.
Management identified input-cost pressure, tariff and geopolitical uncertainty, incomplete margin recovery, customer concentration and capacity absorption as risks. It said average utilisation across the INR 1,950+ Cr installed base remained 52–55%, while the top 12 customers contributed approximately 80% of revenue and no single customer exceeded 15%.
How did Faze Three shares react?
The filing was released after market hours. From the price when the filing appeared, the stock was up 5.5% after five minutes, 7.1% after 15 minutes and 11.8% after 30 minutes. By the close of the first session that could trade on the news, it was up 19.1% from the previous close.
The Other Textile Products industry median move on the reaction day was 1.2%, putting Faze Three’s move 17.9 percentage points above the sector. Earlier reaction-day moves were positive on 12 February 2026, 22 May 2026 and 13 February 2025, and negative on 11 August 2026, 13 November 2025 and 23 May 2025.
| After the filing | Stock | Other Textile Products median |
|---|---|---|
| 5 minutes | +5.5% | |
| 15 minutes | +7.1% | |
| 30 minutes | +11.8% | |
| Reaction day | +19.1% | +1.2% |
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 |
|---|---|
| 11 August 2026 | −11.3% |
| 22 May 2026 | +5.0% |
| 12 February 2026 | +10.1% |
| 13 November 2025 | −0.6% |
| 12 August 2025 | −5.2% |
| 23 May 2025 | −12.8% |
| 11 February 2025 | −5.2% |
| 13 November 2024 | +5.1% |
Source: MarketPing price-reaction measurement.
How did other Other Textile Products companies do?
Among 61 Other Textile Products companies compared for the quarter, the median revenue growth was 22.4%. Faze Three’s revenue growth was higher than that of 35 peers and lower than that of 26, with the company itself excluded from the peer counts.
Among 64 peers for which profit was compared, 43 reported higher profit.
| Faze Three revenue growth (YoY) | +27.8% |
|---|---|
| Median of 61 other Other Textile Products companies | +22.4% |
| Companies with slower revenue growth than Faze Three | 35 of 61 |
| Companies with faster revenue growth than Faze Three | 26 of 61 |
| Companies whose net profit rose | 43 of 64 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Faze Three's revenue in Q2 FY27?
Revenue from operations was ₹264.58 crore, up 27.8% from ₹206.98 crore in Q2 FY26 (consolidated).
Did Faze Three make a profit in Q2 FY27?
Yes. Net profit was ₹15.46 crore, against a net loss of ₹5.20 crore in Q2 FY26.
What was Faze Three's EPS in Q2 FY27?
Basic earnings per share were ₹6.37, against a loss of ₹2.14 in Q2 FY26.
How did Faze Three shares react to the Q2 FY27 results?
On the reaction day the stock moved +19.1% from the previous close; the median Other Textile Products stock moved +1.2%.
When did Faze Three announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Board Meeting To Consider And Approve The Un-Audited (Standalone And Consolidated) Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026 (BSE, 29 October 2026) · PDF
- Un-Audited (Standalone & Consolidated) Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 3 November 2026) · PDF
- The investor presentation (3 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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