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Gokaldas Exports Q2 FY27 results: net profit ₹41.22 crore vs ₹8.08 crore, revenue up 13.0%
Gokaldas Exports Limited reported consolidated Q2 FY27 revenue of ₹1,113 crore, up 13.0% from Q2 FY26. EBITDA rose 62.2% to ₹104.83 crore and the EBITDA margin improved to 9.4%, while net profit increased to ₹41.22 crore from ₹8.08 crore.
Key points
- Revenue was ₹1,113 crore in Q2 FY27, up ₹128.45 crore or 13.0% from Q2 FY26.
- EBITDA rose to ₹104.83 crore from ₹64.62 crore, with the margin increasing to 9.4% from 6.6%.
- Net profit was ₹41.22 crore against ₹8.08 crore in Q2 FY26, and basic EPS was ₹5.63 against ₹1.10.
- Against Q1 FY27, revenue fell 3.5%, EBITDA fell 6.8%, net profit fell 7.0%, and the EBITDA margin declined to 9.4% from 9.8%.
- H1 FY27 revenue was ₹2,266.31 crore and net profit was ₹85.52 crore, up 16.8% and 72.6% from H1 FY26.
How did Gokaldas Exports perform in Q2 FY27?
Gokaldas Exports reported consolidated revenue of ₹1,113 crore for Q2 FY27, up ₹128.45 crore or 13.0% from Q2 FY26. EBITDA was ₹104.83 crore, up ₹40.21 crore or 62.2%, while the EBITDA margin improved to 9.4% from 6.6%. Profit before tax rose to ₹49.50 crore from ₹18.72 crore.
Against Q1 FY27, revenue was lower by ₹40.71 crore or 3.5% at ₹1,113 crore. EBITDA fell by ₹7.67 crore or 6.8% to ₹104.83 crore, and the margin declined by 0.4 percentage points to 9.4%. Net profit fell by ₹3.08 crore or 7.0% to ₹41.22 crore, while basic EPS fell by ₹0.42 or 6.9% to ₹5.63.
The company also reported standalone revenue of ₹747.24 crore and profit after tax of ₹51.66 crore for the quarter. The board approved the un-audited standalone and consolidated results for the quarter and half year ended 30 September 2026 on 5 November 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,113 | 1,154 | 984.35 | +13.0% | −3.5% |
| Other income | 22.24 | 26.66 | 18.96 | +17.3% | −16.6% |
| Total expenses | 1,086 | 1,117 | 984.59 | +10.3% | −2.8% |
| EBITDA | 104.83 | 112.50 | 64.62 | +62.2% | −6.8% |
| EBITDA margin | 9.4% | 9.8% | 6.6% | +2.8 pp | −0.4 pp |
| Profit before tax | 49.50 | 62.83 | 18.72 | +164.4% | −21.2% |
| Tax | 8.28 | 18.54 | 10.64 | −22.2% | −55.3% |
| Net profit | 41.22 | 44.30 | 8.08 | +410.1% | −7.0% |
| EPS (₹) | 5.63 | 6.05 | 1.10 | +411.8% | −6.9% |
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 Gokaldas Exports' costs and profit?
Total expenses increased by ₹100.95 crore or 10.3% from Q2 FY26 to ₹1,086 crore. Cost of materials rose by ₹62 crore to ₹525.73 crore, employee cost increased by ₹52.30 crore to ₹378.23 crore, and other expenses were higher by ₹35.28 crore at ₹115.72 crore. Finance costs rose by ₹7.20 crore to ₹29.46 crore, while depreciation increased by ₹5.52 crore to ₹48.11 crore.
Other income rose by ₹3.28 crore or 17.3% to ₹22.24 crore, while tax expense fell by ₹2.36 crore or 22.2% to ₹8.28 crore. There was no exceptional item in either Q2 FY27 or Q2 FY26. The filing does not state any further reasons for the movements in these cost lines or for the rise in profit.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 525.73 | 463.73 | +62 | +13.4% |
| Employee cost | 378.23 | 325.93 | +52.30 | +16.0% |
| Finance costs | 29.46 | 22.26 | +7.20 | +32.3% |
| Depreciation | 48.11 | 42.59 | +5.52 | +13.0% |
| Other expenses | 115.72 | 80.44 | +35.28 | +43.9% |
| Total expenses | 1,086 | 984.59 | +100.95 | +10.3% |
| Other income | 22.24 | 18.96 | +3.28 | +17.3% |
| Tax | 8.28 | 10.64 | −2.36 | −22.2% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue was ₹2,266.31 crore, up ₹326.17 crore or 16.8% from ₹1,940.14 crore in H1 FY26. Total income rose by ₹334.73 crore or 16.9% to ₹2,315.21 crore, while profit before tax increased by ₹36.80 crore or 48.7% to ₹112.33 crore.
Net profit for the first half was ₹85.52 crore, up ₹35.96 crore or 72.6% from ₹49.56 crore in H1 FY26. Basic EPS increased by ₹4.86 or 71.4% to ₹11.67 from ₹6.81.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 2,266 | 1,940 | +16.8% |
| Profit before tax | 112.33 | 75.53 | +48.7% |
| Net profit | 85.52 | 49.56 | +72.6% |
| EPS (₹) | 11.67 | 6.81 | +71.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹4,452.11 crore at 30 September 2026, compared with ₹4,354.16 crore at 31 March 2026. Total equity rose to ₹2,295.23 crore from ₹2,160.40 crore, while borrowings fell to ₹781.98 crore from ₹977.55 crore. Cash and cash equivalents declined to ₹31.87 crore from ₹135.01 crore.
Inventories were ₹871.36 crore at the quarter end compared with ₹874.53 crore earlier. Trade receivables increased to ₹704.47 crore from ₹601.05 crore, and trade payables rose to ₹585.37 crore from ₹348.83 crore.
For H1 FY27, operating cash flow was ₹325.11 crore, compared with ₹108.82 crore in H1 FY26. Investing cash flow was negative ₹141.29 crore against negative ₹215.82 crore, while financing cash flow was negative ₹287.47 crore against negative ₹4.50 crore. Capital expenditure was ₹125.60 crore, compared with negative ₹110.22 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 4,452 | 4,354 |
| Total equity | 2,295 | 2,160 |
| Borrowings | 781.98 | 977.55 |
| Cash and equivalents | 31.87 | 135.01 |
| Inventories | 871.36 | 874.53 |
| Trade receivables | 704.47 | 601.05 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 325.11 | 108.82 |
| Cash from investing | −141.29 | −215.82 |
| Cash from financing | −287.47 | −4.50 |
| Capital expenditure | 125.60 | −110.22 |
Source: Company's results filing (XBRL).
How has Gokaldas Exports done over the last 8 quarters?
Revenue reached its highest level in the series at ₹1,153.51 crore in Q1 FY27 before declining to ₹1,112.80 crore in Q2 FY27. It was ₹984.35 crore in Q2 FY26, and the streak data shows revenue rose year on year in each of the last three quarters.
Net profit bottomed at ₹8.08 crore in Q2 FY26 and reached its highest level at ₹52.86 crore in Q4 FY25. It rose to ₹44.30 crore in Q1 FY27 before declining to ₹41.22 crore in Q2 FY27, with profit rising year on year in each of the last two quarters.
The EBITDA margin bottomed at 6.6% in Q2 FY26 and peaked at 12.1% in Q4 FY25. It improved to 10.9% in Q4 FY26, eased to 9.8% in Q1 FY27 and declined further to 9.4% in Q2 FY27.
How did other Garments & Apparels companies do?
Thirteen other Garments & Apparels companies filed results for the quarter, with a median revenue growth of 23.1%. Six grew more slowly than Gokaldas Exports and seven grew faster than the company.
Eight of the 11 peers for which profit was compared reported higher profit.
| Gokaldas Exports revenue growth (YoY) | +13.0% |
|---|---|
| Median of 13 other Garments & Apparels companies | +23.1% |
| Companies with slower revenue growth than Gokaldas Exports | 6 of 13 |
| Companies with faster revenue growth than Gokaldas Exports | 7 of 13 |
| Companies whose net profit rose | 8 of 11 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Gokaldas Exports' revenue in Q2 FY27?
Revenue from operations was ₹1,113 crore, up 13.0% from ₹984.35 crore in Q2 FY26 (consolidated).
Did Gokaldas Exports make a profit in Q2 FY27?
Yes. Net profit was ₹41.22 crore, against a net profit of ₹8.08 crore in Q2 FY26.
What was Gokaldas Exports' EPS in Q2 FY27?
Basic earnings per share were ₹5.63, against ₹1.10 in Q2 FY26.
When did Gokaldas Exports announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering Un-Audited Financial Results For The Quarter And Half Year Ended September 30, 2026. (BSE, 30 October 2026) · PDF
- Board Meeting Outcome for For Meeting Held On November 05, 2026 (BSE, 5 November 2026) · PDF
- Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 5 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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