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Kesar India Q2 FY27 results: net profit ₹18.38 crore, revenue up 81.6%
Kesar India Ltd reported standalone revenue of ₹54.13 crore in Q2 FY27, up 81.6% from ₹29.81 crore in Q2 FY26. EBITDA rose to ₹27.37 crore from ₹3.16 crore, while the margin expanded to 50.6% from 10.6%; net profit was ₹18.38 crore and basic EPS was ₹6.03. The company also filed consolidated results for the quarter and half year ended 30 September 2026.
Key points
- Revenue was ₹54.13 crore, up 81.6% from ₹29.81 crore in Q2 FY26 and up 539.8% from ₹8.46 crore in Q1 FY27.
- EBITDA was ₹27.37 crore, compared with ₹3.16 crore in Q2 FY26; the EBITDA margin was 50.6% against 10.6%.
- Net profit was ₹18.38 crore and basic EPS was ₹6.03, compared with EPS of ₹0.51 in Q2 FY26.
- Total expenses were ₹31.09 crore, including cost of materials of ₹17.46 crore, employee cost of ₹3.29 crore, finance costs of ₹2.52 crore and other expenses of ₹6.01 crore.
- The standalone balance sheet included total assets of ₹496.45 crore, total equity of ₹369.04 crore, borrowings of ₹77.27 crore and cash of ₹65.47 crore as on 30 September 2026.
How did Kesar India perform in Q2 FY27?
Kesar India reported standalone revenue of ₹54.13 crore for Q2 FY27, against ₹29.81 crore in Q2 FY26 and ₹8.46 crore in Q1 FY27. EBITDA was ₹27.37 crore, compared with ₹3.16 crore a year earlier and a loss of ₹2.14 crore in the previous quarter. The EBITDA margin was 50.6%, up 40.0 percentage points year on year and 75.9 percentage points sequentially.
Profit before tax was ₹24.35 crore in Q2 FY27, against ₹1.97 crore in Q2 FY26 and ₹1.21 crore in Q1 FY27. Net profit was ₹18.38 crore, while basic EPS was ₹6.03, compared with EPS of ₹0.51 in the year-ago quarter and ₹0.07 in the previous quarter. The board approved audited standalone and consolidated results for the quarter and half year ended 30 September 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 54.13 | 8.46 | 29.81 | +81.6% | +539.8% |
| Other income | 1.31 | 4.87 | 0.36 | +263.9% | −73.1% |
| Total expenses | 31.09 | 12.12 | 28.21 | +10.2% | +156.5% |
| EBITDA | 27.37 | −2.14 | 3.16 | +766.1% | turned to profit |
| EBITDA margin | 50.6% | -25.3% | 10.6% | +40.0 pp | +75.9 pp |
| Profit before tax | 24.35 | 1.21 | 1.97 | +1136.0% | +1912.4% |
| Tax | 5.98 | 1 | 0.62 | +864.5% | +498.0% |
| Net profit | 18.38 | 0.21 | +8652.4% | ||
| EPS (₹) | 6.03 | 0.07 | 0.51 | +1082.4% | +8514.3% |
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 Kesar India's costs and profit?
Against Q2 FY26, total expenses increased by ₹2.88 crore to ₹31.09 crore. Cost of materials declined by ₹1.09 crore to ₹17.46 crore, while employee cost rose by ₹1.28 crore to ₹3.29 crore, finance costs increased by ₹0.96 crore to ₹2.52 crore and other expenses rose by ₹0.84 crore to ₹6.01 crore. Depreciation for the current quarter was ₹1.81 crore; the year-ago quarter figure was not given.
Other income increased by ₹0.95 crore to ₹1.31 crore from ₹0.36 crore in Q2 FY26, and tax expense rose by ₹5.36 crore to ₹5.98 crore from ₹0.62 crore. There was no exceptional item in either quarter. In Q1 FY27, other income was ₹4.87 crore, total expenses were ₹12.12 crore and tax was ₹1 crore; the filing did not state reasons for the changes in these items.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 17.46 | 18.55 | −1.09 | −5.9% |
| Employee cost | 3.29 | 2.01 | +1.28 | +63.7% |
| Finance costs | 2.52 | 1.56 | +0.96 | +61.5% |
| Other expenses | 6.01 | 5.17 | +0.84 | +16.2% |
| Total expenses | 31.09 | 28.21 | +2.88 | +10.2% |
| Other income | 1.31 | 0.36 | +0.95 | +263.9% |
| Tax | 5.98 | 0.62 | +5.36 | +864.5% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As on 30 September 2026, total assets were ₹496.45 crore against ₹351.82 crore at 31 March 2026. Total equity was ₹369.04 crore, compared with ₹247.38 crore; borrowings were ₹77.27 crore against ₹31.45 crore and cash was ₹65.47 crore against ₹29.43 crore. Inventories were ₹82.49 crore, trade receivables ₹31.1 crore and trade payables ₹34.49 crore.
For H1 FY27, operating cash flow was negative ₹91.63 crore, compared with negative ₹48.63 crore in H1 FY26. Investing cash flow was negative ₹19.47 crore against negative ₹3.95 crore, while financing cash flow was ₹147.14 crore compared with ₹71.8 crore. Capital expenditure was ₹4.82 crore in H1 FY27 and ₹4.19 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 496.45 | 351.82 |
| Total equity | 369.04 | 247.38 |
| Borrowings | 77.27 | 31.45 |
| Cash and equivalents | 65.47 | 29.43 |
| Inventories | 82.49 | 97.36 |
| Trade receivables | 31.10 | 12.64 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −91.63 | −48.63 |
| Cash from investing | −19.47 | −3.95 |
| Cash from financing | 147.14 | 71.80 |
| Capital expenditure | 4.82 | 4.19 |
Source: Company's results filing (XBRL).
How has Kesar India done over the last 8 quarters?
Revenue moved from ₹29.81 crore in Q2 FY26 to ₹91.6 crore in Q3 FY26, before falling to ₹25.12 crore in Q4 FY26 and ₹8.46 crore in Q1 FY27. It rose to ₹54.13 crore in Q2 FY27. The period low in the provided series was ₹8.46 crore in Q1 FY27, while the high was ₹91.6 crore in Q3 FY26.
PAT rose from ₹0.21 crore in Q1 FY27 to ₹18.38 crore in Q2 FY27; the earlier provided quarters do not include PAT figures. The EBITDA margin fell to -25.3% in Q1 FY27 from 26.6% in Q3 FY26, then increased to 50.6% in Q2 FY27. The margin’s provided high was 51.7% in Q4 FY26.
What did the auditors point out?
RHAD & Co., Chartered Accountants, audited the standalone half-year financial results for the period ended 30 September 2026. The auditors said the results were presented in accordance with Regulation 33 of the Listing Regulations and gave a true and fair view under applicable Indian Accounting Standards and other accounting principles generally accepted in India.
The report identifies an emphasis of matter, while the opinion states that the standalone results give a true and fair view of net profit and other comprehensive income and other financial information for the period. The auditors described management’s responsibility to assess going concern and their own responsibility to conclude whether a material uncertainty existed that could cast significant doubt on the company’s ability to continue as a going concern.
How did other Residential, Commercial Projects companies do?
Twelve other Residential, Commercial Projects companies that filed for the quarter had a median revenue growth of 46.9%. Seven peers grew slower than Kesar India and five grew faster than the company. These figures compare the other companies and do not include Kesar India.
Among 16 peers for which profit was compared, nine reported higher profit. The peer comparison was recorded as of 5 November 2026, while Kesar India’s standalone revenue growth for Q2 FY27 was 81.6%.
| Kesar India revenue growth (YoY) | +81.6% |
|---|---|
| Median of 12 other Residential, Commercial Projects companies | +46.9% |
| Companies with slower revenue growth than Kesar India | 7 of 12 |
| Companies with faster revenue growth than Kesar India | 5 of 12 |
| Companies whose net profit rose | 9 of 16 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Kesar India's revenue in Q2 FY27?
Revenue from operations was ₹54.13 crore, up 81.6% from ₹29.81 crore in Q2 FY26 (standalone).
Did Kesar India make a profit in Q2 FY27?
Yes. Net profit was ₹18.38 crore.
What was Kesar India's EPS in Q2 FY27?
Basic earnings per share were ₹6.03, against ₹0.51 in Q2 FY26.
When did Kesar India announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for The Audited Financial Results (Standalone And Consolidated) Of The Company For The Quarter And Half Year Ended September 30, 2026 (BSE, 30 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On November 04, 2026 (BSE, 5 November 2026) · PDF
- Outcome Of Board Meeting (BSE, 5 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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