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Gujarat Craft Industries Q2 FY27 results: net profit down 75.5% to ₹0.13 crore, revenue up 18.2%
Gujarat Craft Industries Ltd reported standalone revenue of ₹52.60 crore in Q2 FY27, up 18.2% from ₹44.49 crore a year earlier. EBITDA was ₹3.41 crore at a 6.5% margin, while net profit was ₹13 lakh and basic EPS was ₹0.26, both lower than Q2 FY26.
Key points
- Q2 FY27 revenue rose 18.2% to ₹52.60 crore from ₹44.49 crore in Q2 FY26.
- EBITDA was ₹3.41 crore, down 0.3% from ₹3.42 crore, while the margin fell 1.2 percentage points to 6.5%.
- Net profit was ₹13 lakh, down 75.5% from ₹53 lakh in Q2 FY26; basic EPS declined to ₹0.26 from ₹1.08.
- Against Q1 FY27, revenue rose 19.8% to ₹52.60 crore and EBITDA increased 29.2% to ₹3.41 crore.
- H1 FY27 revenue was ₹96.48 crore, up 4.8%, but net profit fell 80.0% to ₹19 lakh and EPS declined to ₹0.38 from ₹1.95.
How did Gujarat Craft Industries perform in Q2 FY27?
Gujarat Craft Industries reported standalone revenue of ₹52.60 crore for Q2 FY27, up ₹8.11 crore or 18.2% from ₹44.49 crore in Q2 FY26. Total income was ₹52.64 crore against ₹44.53 crore, while EBITDA was ₹3.41 crore, down ₹0.01 crore or 0.3%. The EBITDA margin declined 1.2 percentage points to 6.5% from 7.7%.
Profit before tax was ₹17 lakh, down ₹50 lakh or 74.6% from ₹67 lakh in Q2 FY26. Net profit was ₹13 lakh, down ₹40 lakh or 75.5%, and basic EPS fell ₹0.82 or 75.9% to ₹0.26 from ₹1.08. Against Q1 FY27, revenue rose 19.8%, EBITDA increased 29.2%, and net profit rose 116.7%. The results are on a standalone basis.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 52.60 | 43.89 | 44.49 | +18.2% | +19.8% |
| Other income | 0.04 | 0.60 | 0.04 | +0.0% | −93.3% |
| Total expenses | 52.47 | 44.41 | 43.86 | +19.6% | +18.1% |
| EBITDA | 3.41 | 2.64 | 3.42 | −0.3% | +29.2% |
| EBITDA margin | 6.5% | 6.0% | 7.7% | −1.2 pp | +0.5 pp |
| Profit before tax | 0.17 | 0.08 | 0.67 | −74.6% | +112.5% |
| Tax | 0.04 | 0.02 | 0.14 | −71.4% | +100.0% |
| Net profit | 0.13 | 0.06 | 0.53 | −75.5% | +116.7% |
| EPS (₹) | 0.26 | 0.12 | 1.08 | −75.9% | +116.7% |
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 Craft Industries' costs and profit?
Total expenses rose ₹8.61 crore or 19.6% to ₹52.47 crore in Q2 FY26, exceeding the ₹8.11 crore increase in revenue. Cost of materials accounted for a ₹7.16 crore or 27.0% rise to ₹33.69 crore, while finance costs increased ₹0.27 crore or 19.3% to ₹1.67 crore and depreciation rose ₹0.21 crore or 15.0% to ₹1.61 crore.
Employee cost declined ₹0.41 crore or 16.0% to ₹2.15 crore, and other expenses fell ₹2.08 crore or 18.1% to ₹9.39 crore. Other income was unchanged at ₹4 lakh, and there was no exceptional item. Tax expense was ₹4 lakh, down ₹10 lakh or 71.4% from ₹14 lakh, while profit before tax fell to ₹17 lakh from ₹67 lakh.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 33.69 | 26.53 | +7.16 | +27.0% |
| Employee cost | 2.15 | 2.56 | −0.41 | −16.0% |
| Finance costs | 1.67 | 1.40 | +0.27 | +19.3% |
| Depreciation | 1.61 | 1.40 | +0.21 | +15.0% |
| Other expenses | 9.39 | 11.47 | −2.08 | −18.1% |
| Total expenses | 52.47 | 43.86 | +8.61 | +19.6% |
| Other income | 0.04 | 0.04 | 0 | +0.0% |
| Tax | 0.04 | 0.14 | −0.10 | −71.4% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, standalone revenue was ₹96.48 crore, up ₹4.45 crore or 4.8% from ₹92.03 crore in H1 FY26. Total income rose ₹5.00 crore or 5.4% to ₹97.13 crore, while profit before tax fell ₹1.08 crore or 81.2% to ₹25 lakh.
Net profit for H1 FY27 was ₹19 lakh, down ₹76 lakh or 80.0% from ₹95 lakh in H1 FY26. Basic EPS declined ₹1.57 or 80.5% to ₹0.38 from ₹1.95. No exceptional item was reported in either half-year period.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 96.48 | 92.03 | +4.8% |
| Profit before tax | 0.25 | 1.33 | −81.2% |
| Net profit | 0.19 | 0.95 | −80.0% |
| EPS (₹) | 0.38 | 1.95 | −80.5% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets decreased to ₹161.8 crore at 30 September 2026 from ₹164.42 crore at 31 March 2026. Total equity was ₹64.11 crore against ₹64.10 crore, borrowings declined to ₹62.99 crore from ₹63.45 crore, and cash was unchanged at ₹3 lakh. Inventories fell to ₹47.87 crore from ₹57.83 crore, while trade receivables increased to ₹30.20 crore from ₹21.19 crore.
In the first half of FY27, net cash from operating activities was ₹6.10 crore, compared with an outflow of ₹1.28 crore in H1 FY26. Investing cash flow was an outflow of ₹1.11 crore against ₹1.25 crore, while financing cash flow was an outflow of ₹5.00 crore against an inflow of ₹2.66 crore. Capital expenditure was ₹28 lakh compared with ₹1.01 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 161.80 | 164.42 |
| Total equity | 64.11 | 64.10 |
| Borrowings | 62.99 | 63.45 |
| Cash and equivalents | 0.03 | 0.03 |
| Inventories | 47.87 | 57.83 |
| Trade receivables | 30.20 | 21.19 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 6.10 | −1.28 |
| Cash from investing | −1.11 | −1.25 |
| Cash from financing | −5 | 2.66 |
| Capital expenditure | 0.28 | 1.01 |
Source: Company's results filing (XBRL).
How has Gujarat Craft Industries done over the last 8 quarters?
Revenue increased to ₹52.60 crore in Q2 FY27 from ₹43.89 crore in Q1 FY27. Across the latest eight quarters, revenue was highest at ₹63.11 crore in Q4 FY25 and lowest at ₹42.42 crore in Q4 FY26; the current quarter moved above the recent low and below the earlier peak.
How did other Packaging companies do?
A total of 29 Packaging companies had filed for the quarter as of 5 November 2026. Their median revenue growth was 21.3%, compared with Gujarat Craft Industries’ 18.2% growth in Q2 FY27. Of these peers, 12 grew slower than the company and 17 grew faster than the company.
Profit increased for 17 of the 29 peers whose profits were compared. The peer figures cover the other Packaging companies and do not include Gujarat Craft Industries.
| Gujarat Craft Industries revenue growth (YoY) | +18.2% |
|---|---|
| Median of 29 other Packaging companies | +21.3% |
| Companies with slower revenue growth than Gujarat Craft Industries | 12 of 29 |
| Companies with faster revenue growth than Gujarat Craft Industries | 17 of 29 |
| Companies whose net profit rose | 17 of 29 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Gujarat Craft Industries' revenue in Q2 FY27?
Revenue from operations was ₹52.60 crore, up 18.2% from ₹44.49 crore in Q2 FY26 (standalone).
Did Gujarat Craft Industries make a profit in Q2 FY27?
Yes. Net profit was ₹0.13 crore, against a net profit of ₹0.53 crore in Q2 FY26.
What was Gujarat Craft Industries' EPS in Q2 FY27?
Basic earnings per share were ₹0.26, against ₹1.08 in Q2 FY26.
When did Gujarat Craft Industries announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Board Meeting Intimation For Taking On Record Unaudited Financial Results For The Quarter Ended On 30Th September, 2026. (BSE, 23 October 2026) · PDF
- Board Meeting Outcome for Board Meeting Outcome For Outcome For Board Meeting - Submission Of Un-Audited Financial Results For The Quarter Ended On 30Th September, 2026. (BSE, 4 November 2026) · PDF
- Unaudited Financial Results For The Quarter Ended 30Th September, 2026. (BSE, 4 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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