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Indian Card Clothing Company Q2 FY27 results: net profit down 20.7% to ₹4.29 crore, revenue up 22.5%
Indian Card Clothing Company Limited reported consolidated Q2 FY27 revenue of ₹13.14 crore, up 22.5% from a year ago, while net profit fell to ₹4.29 crore from ₹5.41 crore. EBITDA was an EBITDA loss of ₹2.59 crore, with a margin of -19.8%, and basic EPS declined to ₹7.21 from ₹9.11.
Key points
- Consolidated revenue rose to ₹13.14 crore in Q2 FY27 from ₹10.73 crore in Q2 FY26, an increase of 22.5%.
- Net profit fell to ₹4.29 crore from ₹5.41 crore in the year-ago quarter, while basic EPS was ₹7.21 against ₹9.11.
- EBITDA was an EBITDA loss of ₹2.59 crore, with the margin improving to -19.8% from -31.2%.
- Other income fell to ₹2.10 crore from ₹11.38 crore, while total expenses rose to ₹17.29 crore from ₹15.48 crore.
- In H1 FY27, revenue was ₹22.92 crore and net profit was ₹8.85 crore, up from ₹20.38 crore and ₹7.71 crore respectively in H1 FY26.
How did Indian Card Clothing Company perform in Q2 FY27?
Consolidated revenue for Q2 FY27 was ₹13.14 crore, compared with ₹10.73 crore in Q2 FY26 and ₹9.78 crore in Q1 FY27. Revenue rose 22.5% from the year-ago quarter and 34.4% from the previous quarter. Total income was ₹15.24 crore, lower than ₹22.11 crore in Q2 FY26 and ₹19.84 crore in Q1 FY27.
EBITDA was an EBITDA loss of ₹2.59 crore in Q2 FY27, compared with an EBITDA loss of ₹3.35 crore in Q2 FY26 and an EBITDA loss of ₹3.03 crore in Q1 FY27. The EBITDA margin was -19.8%, improving from -31.2% year on year and -31.0% sequentially. Profit before tax was ₹4.80 crore, against ₹6.63 crore and ₹5.63 crore, respectively.
Net profit was ₹4.29 crore, down from ₹5.41 crore in Q2 FY26 and ₹4.56 crore in Q1 FY27. Basic EPS was ₹7.21, compared with ₹9.11 in the year-ago quarter and ₹7.68 in the previous quarter. On a standalone basis, revenue was ₹11.01 crore and net profit was ₹4.09 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 13.14 | 9.78 | 10.73 | +22.5% | +34.4% |
| Other income | 2.10 | 10.06 | 11.38 | −81.5% | −79.1% |
| Total expenses | 17.29 | 14.21 | 15.48 | +11.7% | +21.7% |
| EBITDA | −2.59 | −3.03 | −3.35 | ||
| EBITDA margin | -19.8% | -31.0% | -31.2% | +11.4 pp | +11.2 pp |
| Profit before tax | 4.80 | 5.63 | 6.63 | −27.6% | −14.7% |
| Tax | 0.51 | 1.07 | 1.21 | −57.9% | −52.3% |
| Net profit | 4.29 | 4.56 | 5.41 | −20.7% | −5.9% |
| EPS (₹) | 7.21 | 7.68 | 9.11 | −20.9% | −6.1% |
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 Indian Card Clothing Company's costs and profit?
Total expenses rose to ₹17.29 crore from ₹15.48 crore in Q2 FY26, with cost of materials increasing by ₹1.39 crore, or 55.2%, and employee cost by ₹0.32 crore, or 6.1%. Finance costs were higher by ₹0.20 crore, or 80.0%, while depreciation fell by ₹0.04 crore, or 3.5%, and other expenses fell by ₹0.24 crore, or 4.0%.
Other income fell by ₹9.28 crore, or 81.5%, to ₹2.10 crore from ₹11.38 crore in the year-ago quarter. The quarter included an exceptional gain of ₹6.85 crore, compared with no exceptional item in Q2 FY26. Tax expense fell by ₹0.70 crore, or 57.9%, to ₹0.51 crore from ₹1.21 crore.
Against Q1 FY27, total expenses rose by ₹3.08 crore, or 21.7%, while other income fell by ₹7.96 crore, or 79.1%. Cost of materials increased by ₹0.13 crore, employee cost by ₹0.60 crore, finance costs by ₹0.09 crore, depreciation by ₹0.08 crore and other expenses by ₹0.58 crore. Q1 FY27 had no exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 3.91 | 2.52 | +1.39 | +55.2% |
| Employee cost | 5.60 | 5.28 | +0.32 | +6.1% |
| Finance costs | 0.45 | 0.25 | +0.20 | +80.0% |
| Depreciation | 1.11 | 1.15 | −0.04 | −3.5% |
| Other expenses | 5.75 | 5.99 | −0.24 | −4.0% |
| Total expenses | 17.29 | 15.48 | +1.81 | +11.7% |
| Other income | 2.10 | 11.38 | −9.28 | −81.5% |
| Tax | 0.51 | 1.21 | −0.70 | −57.9% |
| Exceptional items | +6.85 (gain) | none |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹22.92 crore, compared with ₹20.38 crore in H1 FY26, an increase of ₹2.54 crore or 12.5%. Total income fell to ₹35.08 crore from ₹38.92 crore, a decline of ₹3.84 crore or 9.9%.
Profit before tax rose to ₹10.43 crore from ₹9.50 crore, an increase of ₹0.93 crore or 9.8%. Net profit increased to ₹8.85 crore from ₹7.71 crore, up ₹1.14 crore or 14.8%, while basic EPS rose to ₹14.90 from ₹12.97.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 22.92 | 20.38 | +12.5% |
| Profit before tax | 10.43 | 9.50 | +9.8% |
| Net profit | 8.85 | 7.71 | +14.8% |
| EPS (₹) | 14.90 | 12.97 | +14.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹385.90 crore, compared with ₹366.56 crore at 31 March 2026. Total equity rose to ₹351.91 crore from ₹342.98 crore. Borrowings were ₹7.43 crore against ₹0.03 crore, while cash was lower at ₹3.01 crore than ₹6.70 crore.
Inventories increased to ₹14.13 crore from ₹12.47 crore, trade receivables to ₹12.30 crore from ₹10.84 crore and trade payables to ₹10.77 crore from ₹7.27 crore. In H1 FY27, operating cash flow was -₹6.60 crore, compared with -₹8.02 crore in H1 FY26; investing cash flow was -₹3.62 crore against -₹9.20 crore.
Financing cash flow was ₹6.52 crore in H1 FY27, compared with -₹12.35 crore in H1 FY26. Capital expenditure was ₹3.33 crore in H1 FY27, against ₹2.45 crore in the earlier first half.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 385.90 | 366.56 |
| Total equity | 351.91 | 342.98 |
| Borrowings | 7.43 | 0.03 |
| Cash and equivalents | 3.01 | 6.70 |
| Inventories | 14.13 | 12.47 |
| Trade receivables | 12.30 | 10.84 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −6.60 | −8.02 |
| Cash from investing | −3.62 | −9.20 |
| Cash from financing | 6.52 | −12.35 |
| Capital expenditure | 3.33 | 2.45 |
Source: Company's results filing (XBRL).
How has Indian Card Clothing Company done over the last 8 quarters?
Revenue reached its highest level in the reported series in Q2 FY27 at ₹13.14 crore, after ₹11.24 crore in Q4 FY26 and ₹9.78 crore in Q1 FY27. It rose year on year in each of the last three quarters, according to the provided trend data. The latest quarter therefore marked a higher revenue level than the preceding quarters shown.
Net profit was highest in Q4 FY25 at ₹17.48 crore, while the lowest was a net loss of ₹3.38 crore in Q4 FY26. It recovered to ₹4.29 crore in Q2 FY27 from ₹4.56 crore in Q1 FY27, when it was lower than in Q2 FY26 at ₹5.41 crore.
The EBITDA margin improved to -19.8% in Q2 FY27 from -31.0% in Q1 FY27. The lowest margin in the series was -35.4% in Q4 FY25, while the latest quarter was the least negative margin among the reported periods.
Which businesses drove the quarter?
Card Clothing reported revenue of ₹13.71 crore in Q2 FY27, up 23.6% from ₹11.09 crore in the year-ago quarter. Its EBIT was an EBIT loss of ₹2.48 crore, compared with an EBIT loss of ₹2.37 crore in Q2 FY26, while the segment EBIT margin was -18.1%.
Realty reported revenue of ₹1.53 crore in Q2 FY27, down 86.1% from ₹11.01 crore in Q2 FY26. EBIT was ₹0.88 crore, compared with ₹9.24 crore in the year-ago quarter, and the segment EBIT margin was 57.2%. The reported segments also included an un-allocable category.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Card Clothing | 13.71 | +23.6% | −2.48 | -18.1% |
| Realty | 1.53 | −86.1% | 0.88 | 57.2% |
| Un-allocable | 0 | 0 |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, and authorised Sanjeevkumar Karkamkar to sign them. The meeting also approved an overdraft facility of Rs. 30 million from ICICI Bank Limited.
The company appointed Manasi M. Nisal as whole-time Chief Financial Officer with effect from 4 November 2026. It also approved a draft postal ballot notice seeking shareholder approval for the appointment of Tushar Arvind Vaidya as a Non-Executive Non-Independent Director. No dividend or fund-raising proposal was disclosed in the same-day filing excerpts.
How did Indian Card Clothing Company shares react?
| After the filing | Stock | Other Textile Products median |
|---|---|---|
| 5 minutes | +3.8% | |
| 15 minutes | +3.8% | |
| 30 minutes | +3.8% | |
| Reaction day | +1.1% | +1.2% |
| Next day | −0.2% | +1.7% |
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 |
|---|---|
| 29 May 2026 | +1.3% |
| 11 February 2026 | −1.8% |
| 14 November 2025 | +0.4% |
| 14 August 2025 | −4.9% |
| 30 May 2025 | +0.7% |
| 12 February 2025 | −2.0% |
| 11 November 2024 | −2.8% |
| 14 August 2024 | −0.6% |
Source: MarketPing price-reaction measurement.
How did other Other Textile Products companies do?
Among 77 Other Textile Products companies compared, the median revenue growth was 24.5%. Of the other companies, 37 grew more slowly than Indian Card Clothing Company and 40 grew faster than the company’s 22.5% revenue growth.
Among 79 companies for which profit was compared, 58 reported higher profit. The peer figures are as of 6 November 2026.
| Indian Card Clothing Company revenue growth (YoY) | +22.5% |
|---|---|
| Median of 77 other Other Textile Products companies | +24.5% |
| Companies with slower revenue growth than Indian Card Clothing Company | 37 of 77 |
| Companies with faster revenue growth than Indian Card Clothing Company | 40 of 77 |
| Companies whose net profit rose | 58 of 79 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Indian Card Clothing Company's revenue in Q2 FY27?
Revenue from operations was ₹13.14 crore, up 22.5% from ₹10.73 crore in Q2 FY26 (consolidated).
Did Indian Card Clothing Company make a profit in Q2 FY27?
Yes. Net profit was ₹4.29 crore, against a net profit of ₹5.41 crore in Q2 FY26.
What was Indian Card Clothing Company's EPS in Q2 FY27?
Basic earnings per share were ₹7.21, against ₹9.11 in Q2 FY26.
How did Indian Card Clothing Company shares react to the Q2 FY27 results?
On the reaction day the stock moved +1.1% from the previous close; the median Other Textile Products stock moved +1.2%.
When did Indian Card Clothing Company announce its Q2 FY27 results?
On 3 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Intimation Of The Board Meeting Date Under Regulation 29 Of SEBI (Listing Obligations And Disclosure Requirements) Regulation, 2015 (BSE, 26 October 2026) · PDF
- Outcome of Board Meeting (NSE, 3 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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