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Flair Writing Industries Q2 FY27 results: net profit up 42.3% to ₹60.80 crore, revenue up 105.5%
Flair Writing Industries Limited reported consolidated Q2 FY27 revenue of ₹659.37 crore, up 105.5% from Q2 FY26, while EBITDA rose 72.1% to ₹103.90 crore. Net profit increased 42.3% to ₹60.80 crore, but EBITDA margin declined 3.0 percentage points to 15.8%.
Key points
- Consolidated revenue was ₹659.37 crore in Q2 FY27, up 105.5% from Q2 FY26 and 106.5% from Q1 FY27.
- EBITDA rose to ₹103.90 crore from ₹60.36 crore a year earlier, while EBITDA margin fell 3.0 percentage points to 15.8%.
- Net profit was ₹60.80 crore, up 42.3% from Q2 FY26 and 109.1% from Q1 FY27; basic EPS was ₹5.68.
- The board approved an interim dividend of ₹0.50 per share, with the record date fixed as 6 November 2026.
- Management maintained FY27 revenue growth guidance of 12% or higher and said the flood-affected Valsad and Daman operations had returned to normalcy.
How did Flair Writing Industries perform in Q2 FY27?
Flair Writing Industries reported consolidated revenue of ₹659.37 crore for Q2 FY27, up 105.5% from ₹320.91 crore in Q2 FY26 and 106.5% from ₹319.25 crore in Q1 FY27. EBITDA was ₹103.90 crore, compared with ₹60.36 crore and ₹53.34 crore in the respective comparison quarters. The EBITDA margin was 15.8%, down 3.0 percentage points year on year and 0.9 percentage points sequentially.
Profit before tax rose to ₹81.22 crore from ₹54.25 crore in Q2 FY26 and ₹38.97 crore in Q1 FY27. Net profit was ₹60.80 crore, against ₹42.73 crore and ₹29.08 crore, while profit attributable to owners was ₹59.90 crore. Basic EPS was ₹5.68, compared with ₹4.04 and ₹2.71. On a standalone basis, revenue was ₹528.22 crore and PAT was ₹53.6 crore.
The consolidated net profit margin was 9.2% in Q2 FY27, down 4.1 percentage points from Q2 FY26 but up 0.1 percentage points from Q1 FY27. The results were filed for the quarter and half year ended 30 September 2026 and had received a limited review from Price Waterhouse Chartered Accountants LLP.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 659.37 | 319.25 | 320.91 | +105.5% | +106.5% |
| Other income | 8.89 | 1.24 | 8.53 | +4.2% | +616.9% |
| Total expenses | 587.04 | 281.52 | 275.19 | +113.3% | +108.5% |
| EBITDA | 103.90 | 53.34 | 60.36 | +72.1% | +94.8% |
| EBITDA margin | 15.8% | 16.7% | 18.8% | −3.0 pp | −0.9 pp |
| Profit before tax | 81.22 | 38.97 | 54.25 | +49.7% | +108.4% |
| Tax | 20.42 | 9.88 | 11.52 | +77.3% | +106.7% |
| Net profit | 60.80 | 29.08 | 42.73 | +42.3% | +109.1% |
| EPS (₹) | 5.68 | 2.71 | 4.04 | +40.6% | +109.6% |
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 Flair Writing Industries' costs and profit?
Total expenses rose by ₹311.85 crore from Q2 FY26 to ₹587.04 crore, outpacing the increase in revenue. Cost of materials was ₹342.64 crore, up ₹163.44 crore, while employee cost was ₹115.04 crore, up ₹58.75 crore. Other expenses increased by ₹55.38 crore to ₹105.30 crore, finance costs rose by ₹1.10 crore to ₹2.58 crore, and depreciation increased by ₹15.83 crore to ₹28.99 crore.
Other income was ₹8.89 crore, ₹0.36 crore higher than Q2 FY26, while the expense for the quarter included no exceptional item. Profit before tax increased by ₹26.97 crore to ₹81.22 crore, but tax expense rose by ₹8.90 crore to ₹20.42 crore. Net profit consequently increased by ₹18.07 crore to ₹60.80 crore.
The company’s presentation attributed the reduction in steel bottles and houseware sales to temporary manufacturing disruptions caused by floods in the Valsad and Daman facilities. It also said creative-product growth was lower than expected because of those disruptions. Management separately estimated that the floods caused about ₹25 crore of lost Q2 revenue.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 342.64 | 179.20 | +163.44 | +91.2% |
| Employee cost | 115.04 | 56.29 | +58.75 | +104.4% |
| Finance costs | 2.58 | 1.48 | +1.10 | +74.3% |
| Depreciation | 28.99 | 13.16 | +15.83 | +120.3% |
| Other expenses | 105.30 | 49.92 | +55.38 | +110.9% |
| Total expenses | 587.04 | 275.19 | +311.85 | +113.3% |
| Other income | 8.89 | 8.53 | +0.36 | +4.2% |
| Tax | 20.42 | 11.52 | +8.90 | +77.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets increased from ₹1,366.53 crore at 31 March 2026 to ₹1,475.81 crore at 30 September 2026, while total equity rose from ₹1,142.55 crore to ₹1,198.1 crore. Borrowings were ₹57.12 crore, compared with ₹37.21 crore, and cash fell from ₹11.3 crore to ₹1.32 crore. Inventories increased from ₹353.96 crore to ₹393.33 crore, trade receivables from ₹273.37 crore to ₹331.47 crore, and trade payables from ₹66.52 crore to ₹106.66 crore.
H1 FY27 operating cash flow was ₹27.45 crore, compared with ₹50.69 crore in H1 FY16. Investing cash flow was negative ₹20.41 crore against negative ₹51.75 crore, while financing cash flow was negative ₹17.02 crore against negative ₹18.77 crore. Capital expenditure was ₹54.76 crore in H1 FY27, compared with ₹62.39 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,476 | 1,367 |
| Total equity | 1,198 | 1,143 |
| Borrowings | 57.12 | 37.21 |
| Cash and equivalents | 1.32 | 11.30 |
| Inventories | 393.33 | 353.96 |
| Trade receivables | 331.47 | 273.37 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 27.45 | 50.69 |
| Cash from investing | −20.41 | −51.75 |
| Cash from financing | −17.02 | −18.77 |
| Capital expenditure | 54.76 | 62.39 |
Source: Company's results filing (XBRL).
How has Flair Writing Industries done over the last 8 quarters?
Revenue reached a period high of ₹659.37 crore in Q2 FY27 after rising from ₹319.25 crore in Q1 FY27, while profit after tax increased from ₹29.08 crore to ₹60.80 crore. The latest quarter also ended a six-quarter sequence of year-on-year profit growth, following eight quarters of year-on-year revenue growth.
The EBITDA margin reached its period high of 18.8% in Q2 FY26 and its low of 15.7% in Q4 FY25. It was 16.7% in Q1 FY27 before easing to 15.8% in Q2 FY27. PAT had bottomed at ₹28.95 crore in Q1 FY26 and reached ₹60.80 crore in the latest quarter, although the broad profit sequence was not fully uniform.
What else did the company announce?
The board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026, along with the limited review reports. It also declared an interim dividend of ₹0.50 per equity share of face value ₹5 each for FY27. The record date is 6 November 2026, and eligible shareholders are to be paid within 30 days of declaration.
The company filed its investor presentation on the same day, highlighting domestic sales, segment revenue and the planned commercial start of the fourth steel-bottle line. The same-day filings did not report a fund raise or any appointment, and the earnings-call filing made on 3 November 2026 provided an audio recording of the discussion.
What did Flair Writing Industries' management say?
Management maintained FY27 revenue growth guidance of 12% or higher and reiterated approximately 15% YoY revenue growth from FY28 onward. It aims to keep the EBITDA margin around 15% at current input costs, with 16-17% possible if the global environment improves. The fourth stainless-steel-bottle line is targeted to begin commercial production in Q4 FY27.
CFO Alkesh Porwal said, “I am pleased to share that manufacturing activities at both facilities have now returned to normalcy.” He also said, “We are confident that the normalization of operations will support a stronger performance in Q3 and the second half of FY27.” Management estimated that flood disruption caused about ₹25 crore of Q2 revenue loss.
Management identified raw-material inflation and volatility linked to West Asia geopolitical disruption and supply constraints as risks. It also cited export logistics, freight, demand and collections as areas of exposure. No analyst concerns were recorded in the provided earnings-call materials.
How did Flair Writing Industries shares react?
The filing was released after market hours, and the stock fell 1.5% within five minutes, 2.1% within 15 minutes and 3.2% within 30 minutes. It closed 2.1% below its pre-results close on the reaction day. The Stationary industry median moved 0.6% over the same close, leaving Flair Writing Industries 2.7 percentage points behind the industry median.
By the next day’s close, the stock was down 0.6% from its pre-results close, while the industry median had risen 1.5%. The stock therefore trailed the industry by 2.1 percentage points. No five-day or one-month move was available. Earlier results-day reactions included gains of 0.6% on 11 August 2026 and 9.3% on 28 July 2025, and declines of 7.6% on 21 May 2026 and 5.2% on 6 November 2025.
| After the filing | Stock | Stationary median |
|---|---|---|
| 5 minutes | −1.5% | |
| 15 minutes | −2.1% | |
| 30 minutes | −3.2% | |
| Reaction day | −2.1% | +0.6% |
| Next day | −0.6% | +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% |
| 21 May 2026 | −7.6% |
| 29 January 2026 | −2.3% |
| 6 November 2025 | −5.2% |
| 28 July 2025 | +9.3% |
| 22 May 2025 | −3.7% |
| 31 January 2025 | +6.1% |
| 8 November 2024 | −3.2% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Flair Writing Industries' revenue in Q2 FY27?
Revenue from operations was ₹659.37 crore, up 105.5% from ₹320.91 crore in Q2 FY26 (consolidated).
Did Flair Writing Industries make a profit in Q2 FY27?
Yes. Net profit was ₹60.80 crore, against a net profit of ₹42.73 crore in Q2 FY26.
What was Flair Writing Industries' EPS in Q2 FY27?
Basic earnings per share were ₹5.68, against ₹4.04 in Q2 FY26.
How did Flair Writing Industries shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.1% from the previous close; the median Stationary stock moved +0.6%.
When did Flair Writing Industries announce its Q2 FY27 results?
On 2 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consideration Of The Unaudited Financial Results (Standalone And Consolidated) Of The Company For The Quarter And Half Year Ended September 30, 2026 And Declaration Of Interim Dividend For The FY 2026-27. (BSE, 22 October 2026) · PDF
- Outcome of Board Meeting (NSE, 2 November 2026) · PDF
- The earnings call (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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