- Home
- Results news
- Gujarat Ambuja Exports
- Q2 FY27 results
Gujarat Ambuja Exports Q2 FY27 results: net profit ₹131.79 crore vs ₹38.02 crore, revenue down 2.4%
Gujarat Ambuja Exports Limited reported Q2 FY27 consolidated revenue of ₹1,451 crore, down 2.4% from the year-ago quarter, while EBITDA rose 160.2% to ₹197.34 crore and net profit rose 246.6% to ₹131.79 crore. Against Q1 FY27, revenue fell 9.0%, EBITDA declined 14.9% and net profit fell 25.4%.
Key points
- Consolidated Q2 FY27 revenue was ₹1,451 crore, down 2.4% from ₹1,487 crore in Q2 FY26.
- EBITDA rose to ₹197.34 crore from ₹75.85 crore, lifting the margin to 13.6% from 5.1%.
- Net profit for the quarter was ₹131.79 crore, against ₹38.02 crore in Q2 FY26, while EPS was ₹2.87.
- Against Q1 FY27, revenue fell ₹143.49 crore to ₹1,451 crore and net profit fell ₹44.98 crore to ₹131.79 crore.
- In H1 FY27, revenue rose to ₹3,044.95 crore and net profit rose to ₹308.56 crore from ₹103.04 crore in H1 FY26.
How did Gujarat Ambuja Exports perform in Q2 FY27?
Gujarat Ambuja Exports reported consolidated revenue of ₹1,451 crore in Q2 FY27, down 2.4% from ₹1,487 crore in Q2 FY26. EBITDA rose by ₹121.49 crore to ₹197.34 crore, and the EBITDA margin increased by 8.5 percentage points to 13.6%. Profit before tax rose by ₹126.40 crore to ₹177.19 crore, while net profit increased by ₹93.77 crore to ₹131.79 crore. Basic EPS was ₹2.87, against ₹0.83 a year earlier.
Against Q1 FY27, revenue fell ₹143.49 crore to ₹1,451 crore and total income declined ₹165.65 crore to ₹1,467.7 crore. EBITDA fell ₹34.59 crore to ₹197.34 crore, and its margin was lower by 0.9 percentage points at 13.6%. Net profit declined ₹44.98 crore to ₹131.79 crore, while basic EPS fell ₹0.98 to ₹2.87.
On a standalone basis, Q2 FY27 revenue was ₹1,451.33 crore and net profit was ₹131.99 crore, compared with standalone profit before tax of ₹38.08 crore. The board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026 on 24 October 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,451 | 1,594 | 1,487 | −2.4% | −9.0% |
| Other income | 16.97 | 39.13 | 19.18 | −11.5% | −56.6% |
| Total expenses | 1,291 | 1,398 | 1,455 | −11.3% | −7.7% |
| EBITDA | 197.34 | 231.93 | 75.85 | +160.2% | −14.9% |
| EBITDA margin | 13.6% | 14.5% | 5.1% | +8.5 pp | −0.9 pp |
| Profit before tax | 177.19 | 235.28 | 50.79 | +248.9% | −24.7% |
| Tax | 45.40 | 58.51 | 12.77 | +255.5% | −22.4% |
| Net profit | 131.79 | 176.77 | 38.02 | +246.6% | −25.4% |
| EPS (₹) | 2.87 | 3.85 | 0.83 | +245.8% | −25.5% |
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 Gujarat Ambuja Exports' costs and profit?
Total expenses fell ₹164.57 crore to ₹1,291 crore from ₹1,455 crore in Q2 FY26, while revenue was lower by ₹35.96 crore. Cost of materials consumed increased ₹58.99 crore to ₹929.73 crore and employee cost rose ₹16.61 crore to ₹46.46 crore. Other expenses increased ₹29.29 crore to ₹241.13 crore, while finance costs declined ₹5.93 crore to ₹3.21 crore and depreciation fell ₹1.19 crore to ₹33.91 crore.
Other income was ₹16.97 crore in Q2 FY27, down ₹2.21 crore from ₹19.18 crore in Q2 FY26, and there was no exceptional item in either quarter. Tax expense increased ₹32.63 crore to ₹45.40 crore from ₹12.77 crore. The filing did not state reasons for the changes in the cost lines or other income.
From the previous quarter, total expenses fell ₹107.56 crore to ₹1,291 crore, even as cost of materials consumed rose ₹92.30 crore to ₹929.73 crore. Other income declined ₹22.16 crore to ₹16.97 crore, and tax expense fell ₹13.11 crore to ₹45.40 crore. There was no exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 929.73 | 870.74 | +58.99 | +6.8% |
| Employee cost | 46.46 | 29.85 | +16.61 | +55.6% |
| Finance costs | 3.21 | 9.14 | −5.93 | −64.9% |
| Depreciation | 33.91 | 35.10 | −1.19 | −3.4% |
| Other expenses | 241.13 | 211.84 | +29.29 | +13.8% |
| Total expenses | 1,291 | 1,455 | −164.57 | −11.3% |
| Other income | 16.97 | 19.18 | −2.21 | −11.5% |
| Tax | 45.40 | 12.77 | +32.63 | +255.5% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue rose 9.6% to ₹3,044.95 crore from ₹2,777.92 crore in H1 FY26. Total income increased 9.7% to ₹3,101.05 crore, while profit before tax rose 202.3% to ₹412.47 crore. Net profit increased 199.5% to ₹308.56 crore from ₹103.04 crore, and basic EPS was ₹6.73 against ₹2.25.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 3,045 | 2,778 | +9.6% |
| Profit before tax | 412.47 | 136.46 | +202.3% |
| Net profit | 308.56 | 103.04 | +199.5% |
| EPS (₹) | 6.73 | 2.25 | +199.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹4,543.28 crore, compared with ₹4,159.54 crore at 31 March 2026, while total equity rose to ₹3,590.2 crore from ₹3,294.99 crore. Borrowings increased to ₹467.22 crore from ₹433.58 crore, and cash was ₹4.78 crore against ₹5.0 crore. Inventories rose to ₹1,083.64 crore from ₹803.61 crore, trade receivables fell to ₹357.78 crore from ₹436.04 crore, and trade payables increased to ₹184.15 crore from ₹151.77 crore.
H1 FY27 operating cash flow was ₹146.91 crore, compared with ₹124.95 crore in H1 FY26. Investing cash flow was negative ₹159.53 crore against negative ₹159.37 crore, financing cash flow was ₹12.4 crore against ₹34.58 crore, and capital expenditure was ₹240.66 crore against ₹193.62 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 4,543 | 4,160 |
| Total equity | 3,590 | 3,295 |
| Borrowings | 467.22 | 433.58 |
| Cash and equivalents | 4.78 | 5 |
| Inventories | 1,084 | 803.61 |
| Trade receivables | 357.78 | 436.04 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 146.91 | 124.95 |
| Cash from investing | −159.53 | −159.37 |
| Cash from financing | 12.40 | 34.58 |
| Capital expenditure | 240.66 | 193.62 |
Source: Company's results filing (XBRL).
How has Gujarat Ambuja Exports done over the last 8 quarters?
Revenue reached its highest level in the reported series in Q1 FY27 at ₹1,594.22 crore before falling to ₹1,450.73 crore in Q2 FY27. It bottomed at ₹1,130.88 crore in Q3 FY25. Net profit peaked at ₹176.77 crore in Q1 FY27 and bottomed at ₹31.87 crore in Q4 FY25.
The EBITDA margin reached its peak at 14.5% in Q1 FY27 and its low at 4.9% in Q4 FY25, before easing to 13.6% in Q2 FY27. Profit rose year on year in each of the last three quarters. Revenue and profit moved lower in the latest quarter, while the margin also declined.
Which businesses drove the quarter?
The Maize Processing Division reported revenue of ₹1,212.26 crore, up 60.5% from ₹755.45 crore in the year-ago quarter, and EBIT of ₹168.07 crore against ₹9.15 crore. Its EBIT margin was 13.9%.
Other Agro Processing Division revenue fell 72.5% to ₹195.85 crore from ₹713.31 crore, while EBIT declined to ₹3.41 crore from ₹49.51 crore. Spinning Division revenue rose 159.5% to ₹40.32 crore, with EBIT of ₹1.13 crore and an EBIT margin of 2.8%. Renewable Power Division revenue was ₹2.3 crore, down 3.8% from ₹2.39 crore, and EBIT was ₹1.36 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Maize Processing Division | 1,212 | +60.5% | 168.07 | 13.9% |
| Other Agro Processing Division | 195.85 | −72.5% | 3.41 | 1.7% |
| Spinning Division | 40.32 | +159.5% | 1.13 | 2.8% |
| Renewable Power Division | 2.30 | −3.8% | 1.36 | 59.1% |
Source: Company's results filing (XBRL segment data).
How did Gujarat Ambuja Exports shares react?
The results were announced after market hours on 24 October 2026. From the price when the filing appeared, the stock fell 4.8% after five minutes, 4.5% after 15 minutes and 3.5% after 30 minutes. It closed the reaction day down 10.3% from ₹156.44, its previous close.
By the next day's close, the stock was down 7.6% from its pre-results close, and by the fifth day's close it was down 6.2%. The Other Agricultural Products industry median moved down 0.3% on the reaction day, up 0.8% by the next day's close and up 0.5% by the fifth day's close. Gujarat Ambuja Exports therefore lagged the industry median by 10.0 percentage points on the reaction day, 8.4 percentage points by the next day's close and 6.7 percentage points by the fifth day's close.
Earlier reaction-day moves were mixed: the stock rose 4.5% on 1 August 2026, was unchanged on 9 May 2026, and fell 4.8% on 30 January 2026. It also fell 1.9% on 2 August 2025, 6.8% on 17 May 2025 and 5.4% on 3 August 2024.
| After the filing | Stock | Other Agricultural Products median |
|---|---|---|
| 5 minutes | −4.8% | |
| 15 minutes | −4.5% | |
| 30 minutes | −3.5% | |
| Reaction day | −10.3% | −0.3% |
| Next day | −7.6% | +0.8% |
| 5 days | −6.2% | +0.5% |
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 |
|---|---|
| 1 August 2026 | +4.5% |
| 9 May 2026 | +0.0% |
| 30 January 2026 | −4.8% |
| 2 August 2025 | −1.9% |
| 17 May 2025 | −6.8% |
| 25 January 2025 | +1.3% |
| 28 October 2024 | +1.8% |
| 3 August 2024 | −5.4% |
Source: MarketPing price-reaction measurement.
How did other Other Agricultural Products companies do?
Sixteen Other Agricultural Products companies filed results for the quarter as of 4 November 2026. Their median revenue growth was 15.2%, compared with Gujarat Ambuja Exports’ consolidated revenue growth of 2.4% in the year-on-year comparison. Eleven peers grew revenue faster than the company, while five grew more slowly.
Among the 15 peers for which profit was compared, eight reported higher profit. Gujarat Ambuja Exports’ peers therefore included more companies with faster revenue growth and fewer companies with slower growth than the company during the quarter.
| Gujarat Ambuja Exports revenue growth (YoY) | −2.4% |
|---|---|
| Median of 16 other Other Agricultural Products companies | +15.2% |
| Companies with slower revenue growth than Gujarat Ambuja Exports | 5 of 16 |
| Companies with faster revenue growth than Gujarat Ambuja Exports | 11 of 16 |
| Companies whose net profit rose | 8 of 15 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Gujarat Ambuja Exports' revenue in Q2 FY27?
Revenue from operations was ₹1,451 crore, down 2.4% from ₹1,487 crore in Q2 FY26 (consolidated).
Did Gujarat Ambuja Exports make a profit in Q2 FY27?
Yes. Net profit was ₹131.79 crore, against a net profit of ₹38.02 crore in Q2 FY26.
What was Gujarat Ambuja Exports' EPS in Q2 FY27?
Basic earnings per share were ₹2.87, against ₹0.83 in Q2 FY26.
How did Gujarat Ambuja Exports shares react to the Q2 FY27 results?
On the reaction day the stock moved −10.3% from the previous close; the median Other Agricultural Products stock moved −0.3%.
When did Gujarat Ambuja Exports announce its Q2 FY27 results?
On 24 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of Unaudited Financial Results (Standalone And Consolidated) Of The Company For The Second Quarter And Half Year Ended 30Th September, 2026 And Other Business. (BSE, 16 October 2026) · PDF
- Submission Unaudited Standalone And Consolidated Financial Results Of The Company For The Second Quarter And Half Year Ended 30Th September, 2026 (BSE, 24 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On 24Th October, 2026 (BSE, 24 October 2026) · PDF
- Communication To The Members Of The Company Regarding Financial Results For The Second Quarter And Half Year Ended 30Th September, 2026 (BSE, 24 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.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.