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- Q2 FY27 results
Ganesha Ecosphere Q2 FY27 results: net profit ₹28.08 crore vs ₹0.50 crore loss, revenue up 41.2%
Ganesha Ecosphere Limited reported consolidated revenue of ₹512.96 crore for Q2 FY27, up 41.2% from Q2 FY26, with EBITDA of ₹60.65 crore and an EBITDA margin of 11.8%. Net profit was ₹28.08 crore and basic EPS was ₹10.50, compared with a net loss of ₹0.50 crore and EPS of -₹0.28 in the year-ago quarter; profit was slightly lower than Q1 FY27.
Key points
- Consolidated Q2 FY27 revenue rose 41.2% year on year to ₹512.96 crore and increased 21.1% from Q1 FY27’s ₹423.67 crore.
- EBITDA rose to ₹60.65 crore from ₹22.32 crore in Q2 FY26, while the margin expanded 5.7 percentage points to 11.8%.
- Net profit was ₹28.08 crore in Q2 FY27 against a net loss of ₹0.50 crore in Q2 FY26; basic EPS was ₹10.50.
- Against Q1 FY27, net profit fell 3.3% to ₹28.08 crore and EPS fell 3.3% to ₹10.50, while EBITDA margin declined 2.3 percentage points to 11.8%.
- H1 FY27 revenue was ₹936.63 crore and profit after tax was ₹57.11 crore, compared with ₹700.51 crore and ₹10.25 crore in H1 FY26.
How did Ganesha Ecosphere perform in Q2 FY27?
Ganesha Ecosphere’s consolidated Q2 FY27 revenue was ₹512.96 crore, up 41.2% from ₹363.38 crore in Q2 FY26 and 21.1% from ₹423.67 crore in Q1 FY27. EBITDA was ₹60.65 crore, up 171.7% from ₹22.32 crore a year earlier and 1.5% from ₹59.78 crore in the previous quarter; the margin was 11.8%, compared with 6.1% and 14.1%, respectively.
Consolidated profit before tax was ₹36.31 crore in Q2 FY27, against ₹0.57 crore in Q2 FY26 and ₹37.18 crore in Q1 FY27. After tax of ₹8.06 crore, net profit was ₹28.08 crore, compared with a net loss of ₹0.50 crore a year earlier and ₹29.03 crore in the previous quarter. Basic EPS was ₹10.50, compared with -₹0.28 in Q2 FY26 and ₹10.86 in Q1 FY27.
On the standalone basis, revenue was ₹316.49 crore and profit after tax was ₹14.50 crore in Q2 FY27. Standalone revenue rose 22.0% from the year-ago quarter, while profit before tax was ₹7.82 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 512.96 | 423.67 | 363.38 | +41.2% | +21.1% |
| Other income | 3.10 | 3.62 | 5.28 | −41.3% | −14.4% |
| Total expenses | 479.76 | 390.11 | 368.10 | +30.3% | +23.0% |
| EBITDA | 60.65 | 59.78 | 22.32 | +171.7% | +1.5% |
| EBITDA margin | 11.8% | 14.1% | 6.1% | +5.7 pp | −2.3 pp |
| Profit before tax | 36.31 | 37.18 | 0.57 | +6270.2% | −2.3% |
| Tax | 8.06 | 8.06 | 1.09 | +639.4% | +0.0% |
| Net profit | 28.08 | 29.03 | −0.50 | turned to profit | −3.3% |
| EPS (₹) | 10.50 | 10.86 | −0.28 | turned to profit | −3.3% |
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 Ganesha Ecosphere's costs and profit?
Total expenses rose to ₹479.76 crore in Q2 FY27 from ₹368.10 crore in Q2 FY26, an increase of ₹111.66 crore. Cost of materials consumed increased by ₹55.68 crore to ₹294.62 crore, employee benefits expense rose by ₹3.21 crore to ₹26.81 crore, depreciation rose by ₹2.65 crore to ₹18.39 crore, and other expenses increased by ₹8.30 crore to ₹74.91 crore.
Finance costs declined by ₹2.24 crore to ₹9.05 crore from ₹11.29 crore in Q2 FY26. Other income fell by ₹2.18 crore to ₹3.10 crore from ₹5.28 crore, and there was no exceptional item in either quarter. Tax expense increased by ₹6.97 crore to ₹8.06 crore from ₹1.09 crore.
Against Q1 FY27, total expenses increased by ₹89.65 crore to ₹479.76 crore. Cost of materials consumed fell by ₹2.95 crore to ₹294.62 crore, while employee benefits expense rose by ₹2.33 crore to ₹26.81 crore, finance costs rose by ₹0.18 crore to ₹9.05 crore, depreciation rose by ₹1.05 crore to ₹18.39 crore and other expenses rose by ₹3.45 crore to ₹74.91 crore.
Other income declined by ₹0.52 crore to ₹3.10 crore from ₹3.62 crore, while tax remained unchanged at ₹8.06 crore. There was no exceptional item in Q1 FY27 either.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 294.62 | 238.94 | +55.68 | +23.3% |
| Employee cost | 26.81 | 23.60 | +3.21 | +13.6% |
| Finance costs | 9.05 | 11.29 | −2.24 | −19.8% |
| Depreciation | 18.39 | 15.74 | +2.65 | +16.8% |
| Other expenses | 74.91 | 66.61 | +8.30 | +12.5% |
| Total expenses | 479.76 | 368.10 | +111.66 | +30.3% |
| Other income | 3.10 | 5.28 | −2.18 | −41.3% |
| Tax | 8.06 | 1.09 | +6.97 | +639.4% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹936.63 crore, up 33.7% from ₹700.51 crore in H1 FY26. Total income rose 33.0% to ₹943.35 crore from ₹709.17 crore, while profit before tax increased 392.6% to ₹73.49 crore from ₹14.92 crore.
H1 FY27 profit after tax was ₹57.11 crore, compared with ₹10.25 crore in H1 FY26, an increase of 457.2%. Basic EPS rose 440.8% to ₹21.36 from ₹3.95.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 936.63 | 700.51 | +33.7% |
| Profit before tax | 73.49 | 14.92 | +392.6% |
| Net profit | 57.11 | 10.25 | +457.2% |
| EPS (₹) | 21.36 | 3.95 | +440.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹2,054.51 crore, compared with ₹2,003.38 crore at 31 March 2026, while total equity rose to ₹1,323.76 crore from ₹1,275.67 crore. Borrowings fell to ₹489.81 crore from ₹495.61 crore, and cash declined to ₹22.35 crore from ₹119.72 crore.
Inventories were ₹290.58 crore at 30 September 2026, compared with ₹297.61 crore at 31 March 2026. Trade receivables increased to ₹222.97 crore from ₹197.75 crore, while trade payables rose to ₹89.81 crore from ₹87.31 crore.
H1 FY27 operating cash flow was ₹56.91 crore, compared with ₹12.71 crore in H1 FY26. Investing cash flow was -₹120.46 crore against -₹157.81 crore, financing cash flow was -₹33.81 crore against ₹70.81 crore, and capital expenditure was ₹89.50 crore compared with ₹109.81 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,055 | 2,003 |
| Total equity | 1,324 | 1,276 |
| Borrowings | 489.81 | 495.61 |
| Cash and equivalents | 22.35 | 119.72 |
| Inventories | 290.58 | 297.61 |
| Trade receivables | 222.97 | 197.75 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 56.91 | 12.71 |
| Cash from investing | −120.46 | −157.81 |
| Cash from financing | −33.81 | 70.81 |
| Capital expenditure | 89.50 | 109.81 |
Source: Company's results filing (XBRL).
How has Ganesha Ecosphere done over the last 8 quarters?
Revenue rose year on year in each of the last three quarters. It increased from ₹337.12 crore in Q1 FY26 to ₹363.38 crore in Q2 FY26, dipped to ₹357.22 crore in Q3 FY26, then rose to ₹423.94 crore in Q4 FY26 and ₹423.67 crore in Q1 FY27 before reaching ₹512.96 crore in Q2 FY27.
Profit after tax bottomed at a loss of ₹0.50 crore in Q2 FY26 and subsequently rose to ₹4.75 crore in Q3 FY26 and ₹23.21 crore in Q4 FY26. It reached ₹29.03 crore in Q1 FY27 before easing to ₹28.08 crore in Q2 FY27, while the EBITDA margin declined from 14.1% to 11.8%.
What else did the company announce?
The board approved the relocation of the Recycled Polyester Staple Fibre Production Line from the Kanpur Dehat unit to the Temra unit to enhance operational efficiency. The company said the complete transition is expected within the next six months and is not expected to have any adverse impact on business operations or financial performance.
The production line’s turnover in FY 2025-26 was about Rs. 50 crore, and it contributed less than 2% of the company’s total net worth and profitability. The company also shared an investor presentation with the exchange.
What did the auditors point out?
The auditors highlighted an emphasis of matter concerning a fire in the PSF Plant area of the Warangal unit on 13 August 2026, which damaged machinery, the building and stocks and halted plant operations. The quantum of loss was under assessment and was therefore not provided for in the books, although the losses caused by the fire were covered under the insurance policy.
The auditors stated that their conclusion on the statement was not modified in respect of this matter. The report also noted that they did not review the interim financial results of two subsidiaries included in the statement before elimination.
How did Ganesha Ecosphere shares react?
The filing appeared after market. From the price when the results appeared, the stock fell 5.9% after five minutes, 5.3% after 15 minutes and 5.0% after 30 minutes. On the reaction day, it closed 1.6% below the previous close, against a 0.6% rise for the industry median.
By the next day’s close, the stock was down 8.8% from its pre-results close. The industry median was up 0.8% over the same closes, leaving the stock 9.6 percentage points behind the sector median. The Nifty Microcap 250, the nearest market benchmark, was up 1.4% on the reaction day.
Earlier reaction-day moves were mixed: the stock fell 11.6% on 21 May 2026, rose 20.9% on 7 February 2026 and fell 7.1% on 10 November 2025. No five-day or one-month reaction was provided.
| After the filing | Stock | Other Textile Products median |
|---|---|---|
| 5 minutes | −5.9% | |
| 15 minutes | −5.3% | |
| 30 minutes | −5.0% | |
| Reaction day | −1.6% | +0.6% |
| Next day | −8.8% | +0.8% |
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 |
|---|---|
| 30 July 2026 | −0.9% |
| 21 May 2026 | −11.6% |
| 7 February 2026 | +20.9% |
| 10 November 2025 | −7.1% |
| 13 August 2025 | −5.3% |
| 24 May 2025 | +4.4% |
| 1 February 2025 | −0.6% |
| 12 November 2024 | −4.4% |
Source: MarketPing price-reaction measurement.
How did other Other Textile Products companies do?
Sixty-one other Other Textile Products companies were compared for revenue growth, and the peer median was 22.4%. Of the other companies, 45 grew more slowly than Ganesha Ecosphere and 16 grew faster than Ganesha Ecosphere during the quarter.
Forty-three of the 64 peers whose profit was compared reported higher profit.
| Ganesha Ecosphere revenue growth (YoY) | +41.2% |
|---|---|
| Median of 61 other Other Textile Products companies | +22.4% |
| Companies with slower revenue growth than Ganesha Ecosphere | 45 of 61 |
| Companies with faster revenue growth than Ganesha Ecosphere | 16 of 61 |
| Companies whose net profit rose | 43 of 64 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Ganesha Ecosphere's revenue in Q2 FY27?
Revenue from operations was ₹512.96 crore, up 41.2% from ₹363.38 crore in Q2 FY26 (consolidated).
Did Ganesha Ecosphere make a profit in Q2 FY27?
Yes. Net profit was ₹28.08 crore, against a net loss of ₹0.50 crore in Q2 FY26.
What was Ganesha Ecosphere's EPS in Q2 FY27?
Basic earnings per share were ₹10.50, against a loss of ₹0.28 in Q2 FY26.
How did Ganesha Ecosphere shares react to the Q2 FY27 results?
On the reaction day the stock moved −1.6% from the previous close; the median Other Textile Products stock moved +0.6%.
When did Ganesha Ecosphere announce its Q2 FY27 results?
On 31 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Board Meeting Intimation For Intimation Of Board Meeting To Be Held On 31.10.2026. (BSE, 24 October 2026) · PDF
- Outcome of Board Meeting (NSE, 31 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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