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Gujarat Inject Kerala Q2 FY27 results: net profit ₹0.73 crore vs ₹0.07 crore
Gujarat Inject Kerala Ltd reported standalone revenue of ₹5.82 crore and a net profit of ₹0.73 crore in Q2 FY27. Revenue rose 268.4% from Q2 FY26, while EBITDA increased to ₹1.04 crore and the EBITDA margin reached 17.8%.
Key points
- Standalone Q2 FY27 revenue was ₹5.82 crore, up 268.4% from ₹1.58 crore in Q2 FY26.
- EBITDA was ₹1.04 crore, compared with ₹0.03 crore in Q2 FY26, while the margin rose 15.7 percentage points to 17.8%.
- Net profit was ₹0.73 crore, up 942.9% from ₹0.07 crore in Q2 FY26; basic EPS was unchanged at ₹0.05.
- Against Q1 FY27, revenue fell 53.3% to ₹5.82 crore and net profit fell 41.6% to ₹0.73 crore, while the EBITDA margin rose 4.2 percentage points.
- H1 FY27 revenue was ₹18.27 crore and net profit was ₹1.98 crore, compared with ₹4.00 crore and ₹0.14 crore respectively in H1 FY26.
How did Gujarat Inject Kerala perform in Q2 FY27?
Gujarat Inject Kerala reported standalone revenue of ₹5.82 crore in Q2 FY27, up from ₹1.58 crore in Q2 FY26. EBITDA increased from ₹0.03 crore to ₹1.04 crore, and the EBITDA margin rose from 2.1% to 17.8%. Profit before tax was ₹0.95 crore, compared with ₹0.09 crore a year earlier.
Net profit for the quarter was ₹0.73 crore, against ₹0.07 crore in Q2 FY26, while basic EPS was unchanged at ₹0.05. Compared with Q1 FY27, revenue fell 53.3% from ₹12.45 crore, EBITDA declined 38.5% from ₹1.69 crore, and net profit fell 41.6% from ₹1.25 crore. The EBITDA margin rose 4.2 percentage points from 13.6% to 17.8%.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 5.82 | 12.45 | 1.58 | +268.4% | −53.3% |
| Other income | 0 | 0 | 0.06 | ||
| Total expenses | 4.87 | 10.77 | 1.54 | +216.2% | −54.8% |
| EBITDA | 1.04 | 1.69 | 0.03 | +3366.7% | −38.5% |
| EBITDA margin | 17.8% | 13.6% | 2.1% | +15.7 pp | +4.2 pp |
| Profit before tax | 0.95 | 1.69 | 0.09 | +955.6% | −43.8% |
| Tax | 0.23 | 0.44 | 0.02 | +1050.0% | −47.7% |
| Net profit | 0.73 | 1.25 | 0.07 | +942.9% | −41.6% |
| EPS (₹) | 0.05 | 0.86 | 0.05 | +0.0% | −94.2% |
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 Inject Kerala's costs and profit?
Total expenses rose ₹3.33 crore from ₹1.54 crore in Q2 FY26 to ₹4.87 crore in Q2 FY27. Employee benefits expense increased ₹0.05 crore to ₹0.06 crore, depreciation rose ₹0.08 crore to ₹0.08 crore, and other expenses increased ₹0.08 crore to ₹0.09 crore. Cost of materials and finance costs remained unchanged at ₹0 crore.
Other income fell ₹0.06 crore from ₹0.06 crore in Q2 FY26 to ₹0 crore in Q2 FY27. There was no exceptional item in either quarter. Tax expense increased ₹0.21 crore from ₹0.02 crore to ₹0.23 crore, while profit before tax rose ₹0.86 crore from ₹0.09 crore to ₹0.95 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.06 | 0.01 | +0.05 | +500.0% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0.08 | 0 | +0.08 | |
| Other expenses | 0.09 | 0.01 | +0.08 | +800.0% |
| Total expenses | 4.87 | 1.54 | +3.33 | +216.2% |
| Other income | 0 | 0.06 | −0.06 | |
| Tax | 0.23 | 0.02 | +0.21 | +1050.0% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Gujarat Inject Kerala reported standalone revenue of ₹18.27 crore, against ₹4.00 crore in H1 FY26. Total income was ₹18.27 crore compared with ₹4.05 crore, while profit before tax rose from ₹0.19 crore to ₹2.64 crore.
Net profit for H1 FY27 was ₹1.98 crore, compared with ₹0.14 crore in H1 FY26. Basic EPS increased from ₹0.1 to ₹0.13. Revenue rose 356.8%, total income rose 351.1%, profit before tax rose 1,289.5% and net profit rose 1,314.3%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 18.27 | 4 | +356.8% |
| Profit before tax | 2.64 | 0.19 | +1289.5% |
| Net profit | 1.98 | 0.14 | +1314.3% |
| EPS (₹) | 0.13 | 0.10 | +30.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹28.99 crore on 30 September 2026, compared with ₹36.67 crore on 31 March 2026. Total equity was ₹13.39 crore against ₹11.83 crore, while borrowings remained unchanged at ₹0 crore. Cash declined from ₹0.68 crore to ₹0.05 crore.
Trade receivables rose from ₹6.35 crore to ₹7.69 crore, and trade payables fell from ₹20.25 crore to ₹12.2 crore. For H1 FY27, operating cash flow was negative ₹0.58 crore, compared with ₹0.14 crore in H1 FY26, while investing cash flow was negative ₹0.05 crore against ₹0.06 crore. Financing cash flow was ₹0 crore in both periods.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 28.99 | 36.67 |
| Total equity | 13.39 | 11.83 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 0.05 | 0.68 |
| Inventories | 0 | 0 |
| Trade receivables | 7.69 | 6.35 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −0.58 | 0.14 |
| Cash from investing | −0.05 | 0.06 |
| Cash from financing | 0 | 0 |
| Capital expenditure | 0.05 | 0 |
Source: Company's results filing (XBRL).
How has Gujarat Inject Kerala done over the last 8 quarters?
Revenue reached a peak of ₹30.7 crore in Q4 FY26 and a low of ₹1.58 crore in Q2 FY26 across the reported quarters. It then fell to ₹12.45 crore in Q1 FY27 and ₹5.82 crore in Q2 FY27, although revenue rose year on year in each of the last three quarters.
Net profit peaked at ₹1.64 crore in Q4 FY26 and bottomed at ₹0.04 crore in Q3 FY26. It reached ₹0.73 crore in Q2 FY27, with profit rising year on year in each of the last three quarters. The EBITDA margin reached 17.8% in Q2 FY27, compared with its low of negative 5.4% in Q3 FY26.
Which businesses drove the quarter?
The company reported two business segments: Trading and Solar Power Generation. Trading generated revenue of ₹4.82 crore and EBIT of ₹0.27 crore in Q2 FY27, with an EBIT margin of 5.5%. Solar Power Generation generated revenue of ₹1.00 crore and EBIT of ₹0.98 crore, with an EBIT margin of 98.1%.
The filing did not provide year-ago revenue, EBIT or growth figures for either reported segment. It stated that the company evaluates performance and allocates resources under the management approach in Ind-AS 108.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Trading | 4.82 | 0.27 | 5.5% | |
| Solar Power Generation | 1 | 0.98 | 98.1% |
Source: Company's results filing (XBRL segment data).
What did the auditors point out?
The limited review report contained an emphasis of matter. The auditors drew attention to the subdivision or split of equity shares of face value of Rs. 10 each into ten equity shares of Re. 1 each during the quarter ended 30 September 2026, the consequent EPS computation for the quarter and half-year and the restatement of EPS for reported periods.
The auditors also drew attention to the increase in authorised capital and a proposed preferential issue of equity share warrants. Another emphasis of matter stated that current trade receivables included Rs. 574.16 lakhs outstanding for more than one year against which the company had not made provision for expected credit loss. This qualification was reported for the first time.
How did other Pharmaceuticals companies do?
A total of 77 Pharmaceuticals companies that had filed for the quarter were compared. Their median revenue growth was 18.9%, and 49 of the 73 peers for which profit was compared reported higher profit.
Of the other Pharmaceuticals companies, 76 grew their revenue more slowly than Gujarat Inject Kerala and one grew faster. Gujarat Inject Kerala therefore reported revenue growth above the peer median for the quarter.
| Gujarat Inject Kerala revenue growth (YoY) | +268.4% |
|---|---|
| Median of 77 other Pharmaceuticals companies | +18.9% |
| Companies with slower revenue growth than Gujarat Inject Kerala | 76 of 77 |
| Companies with faster revenue growth than Gujarat Inject Kerala | 1 of 77 |
| Companies whose net profit rose | 49 of 73 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Gujarat Inject Kerala's revenue in Q2 FY27?
Revenue from operations was ₹5.82 crore, up 268.4% from ₹1.58 crore in Q2 FY26 (standalone).
Did Gujarat Inject Kerala make a profit in Q2 FY27?
Yes. Net profit was ₹0.73 crore, against a net profit of ₹0.07 crore in Q2 FY26.
What was Gujarat Inject Kerala's EPS in Q2 FY27?
Basic earnings per share were ₹0.05, against ₹0.05 in Q2 FY26.
When did Gujarat Inject Kerala announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for For Consideration & Approval Of Un-Audited Financial Result For The Quarter And Half Year Ended On September 30, 2026 (BSE, 28 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On 05Th November, 2026 (BSE, 5 November 2026) · PDF
- Results - Financial Results For September 30, 2026 (BSE, 5 November 2026) · PDF
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