JK Agri Genetics Q2 FY27 results: net loss widens to ₹7.01 crore, revenue down 24.0%

How did JK Agri Genetics perform in Q2 FY27?

Standalone revenue was ₹14.50 crore in Q2 FY27, down 24.0% from ₹19.07 crore in Q2 FY26. Total income fell to ₹15.28 crore from ₹20.21 crore, while total expenses declined to ₹24.10 crore from ₹27.80 crore. The company reported an EBITDA loss of ₹8.10 crore, compared with an EBITDA loss of ₹6.53 crore, and an EBITDA margin of -55.9% against -34.3%.

The net loss widened to ₹7.01 crore in Q2 FY27 from ₹5.09 crore in Q2 FY26, while basic EPS was -₹15.12 against -₹10.98. Against Q1 FY27, revenue fell from ₹84.33 crore to ₹14.50 crore, the EBITDA margin moved from 18.0% to -55.9%, and the company moved from a net profit of ₹10.87 crore to a net loss of ₹7.01 crore. The filing states that the results are standalone and that the quarter is not representative of full-year performance because the business is seasonal.

What changed in JK Agri Genetics' costs and profit?

Total expenses fell ₹3.70 crore, or 13.3%, from ₹27.80 crore in Q2 FY26 to ₹24.10 crore in Q2 FY27. Cost of materials was lower by ₹7.16 crore, employee cost by ₹2.20 crore, finance costs by ₹0.45 crore, depreciation by ₹0.25 crore and other expenses by ₹3.19 crore. Other income declined ₹0.36 crore to ₹0.78 crore. There was no exceptional item in Q2 FY27.

The tax line changed from a tax benefit of ₹2.50 crore in Q2 FY26 to a tax benefit of ₹1.81 crore in Q2 FY27. Despite the reduction in total expenses, the reported EBITDA loss and pre-tax loss were higher than in Q2 FY26: EBITDA loss widened to ₹8.10 crore from ₹6.53 crore, while the loss before tax widened to ₹8.82 crore from ₹7.59 crore. The company’s filing states that El-Nino had an impact on current-period operations.

How did the first half of FY27 go?

For the first half of FY27, standalone revenue was ₹98.83 crore, down 11.0% from ₹111.0 crore in H1 FY26. Total income was ₹101.03 crore, down 11.7% from ₹114.4 crore, while profit before tax was ₹6.48 crore, down 36.0% from ₹10.13 crore. PAT was ₹3.86 crore, compared with ₹7.19 crore in H1 FY26, and basic EPS was ₹8.32 against ₹15.51.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹256.05 crore, compared with ₹272.22 crore at 31 March 2026. Total equity was ₹104.19 crore against ₹100.36 crore, borrowings were ₹4.00 crore against no borrowings, and cash was ₹1.86 crore against ₹0.62 crore. Inventories were ₹85.75 crore compared with ₹98.10 crore, trade receivables ₹38.78 crore against ₹38.14 crore, and trade payables ₹83.30 crore against ₹82.93 crore.

For H1 FY27, net cash used in operating activities was ₹3.99 crore, compared with ₹25.06 crore in H1 FY26. Investing activities generated ₹3.71 crore against ₹26.71 crore, and financing activities generated ₹1.60 crore against a use of ₹5.34 crore. Capital expenditure was ₹0.27 crore, compared with ₹0.43 crore a year earlier.

How has JK Agri Genetics done over the last 8 quarters?

Revenue was highest in Q1 FY26 at ₹91.93 crore and lowest in Q2 FY27 at ₹14.50 crore. Profit after tax peaked at ₹12.28 crore in Q1 FY26 and was lowest at -₹9.10 crore in Q4 FY26; Q2 FY27 reported a net loss of ₹7.01 crore. The EBITDA margin reached 19.4% in Q1 FY26 and -55.9% in Q2 FY27. The latest quarter therefore followed a seasonal rise in Q1 FY27, with revenue, profit and margin lower than in the preceding quarter.

What else did the company announce?

The board approved the transfer of JK Agri Genetics’ leasehold rights in approximately 5.28 acres of non-operational land at IKP Knowledge Park, Turkapally Village, Shameerpet Mandal, Medchal-Malkajgiri District, Telangana, to Sai Life Sciences Limited. The total consideration is ₹19.80 crore, subject to agreed terms and receipt of applicable approvals, and is to be received by demand draft upon completion of the transfer. The company said the proposed transaction was intended to monetise the leasehold rights, strengthen cash flow and optimise financial resources. The filing states that the buyer is not a related party and that no revenue or income was generated from the land rights during the last financial year.

What did the auditors point out?

The auditors’ report includes an emphasis of matter concerning overdue trade receivables of Rs. 1,823.61 lakhs and a security deposit of Rs. 121.68 lakhs from Rajasthan State Seeds Corporation. The company had initiated legal action for recovery, but the arbitration petition was adjudged against it on grounds of limitation. Its application under section 34 of the Arbitration and Conciliation Act before the Learned Commercial Court, Jaipur was dismissed, with the court holding that the scope under section 34 did not cover the matter.

How did JK Agri Genetics shares react?

After the filing, the stock was down 4.1% after 30 minutes and down 1.2% on the reaction day from the pre-results close. By the next day’s close, it was down 4.9% from the pre-results close. The Other Agricultural Products sector was down 1.1% on the reaction day and 0.6% by the next day’s close, while the Nifty Microcap 250 was down 2.5% and 1.1%, respectively. The stock’s reaction-day move was 0.1 percentage points below the sector median and 4.3 percentage points below it by the next day’s close. Earlier result-day reactions included falls of 3.2% on 7 July 2026, 2.8% on 8 May 2026 and 8.6% on 4 February 2026, as well as gains of 19.7% on 31 July 2025 and 19.9% on 30 July 2024.

How did other Other Agricultural Products companies do?

Sixteen Other Agricultural Products companies were compared for the quarter, with a median revenue growth of 15.2%. Fourteen peers grew revenue faster than JK Agri Genetics, while two grew more slowly. Of the 15 peers for which profit was compared, nine reported higher profit.