Krishival Foods Q2 FY27 results: net profit up 19.0% to ₹6.90 crore, revenue up 28.5%

How did Krishival Foods perform in Q2 FY27?

On a consolidated basis, Krishival Foods reported revenue of ₹85.66 crore in Q2 FY27, up ₹18.99 crore or 28.5% from ₹66.67 crore in Q2 FY26. Total income was ₹88.63 crore, up ₹19.73 crore or 28.6%. EBITDA rose ₹4.46 crore or 60.1% to ₹11.88 crore, while the EBITDA margin widened by 2.8 percentage points to 13.9%.

Profit before tax was ₹9.68 crore, up ₹2.26 crore or 30.5% from ₹7.42 crore. After tax of ₹2.78 crore, net profit stood at ₹6.90 crore, up ₹1.10 crore or 19.0%, and profit attributable to owners was ₹6.80 crore against ₹5.63 crore. Basic EPS rose to ₹2.81 from ₹2.60, while the profit margin was 8.1% against 8.7%.

Sequentially, revenue fell ₹3.30 crore or 3.7% from ₹88.96 crore in Q1 FY27, but EBITDA rose ₹1.40 crore or 13.4% to ₹11.88 crore and the margin improved by 2.1 percentage points to 13.9%. Net profit rose ₹1.30 crore or 23.2% to ₹6.90 crore, and EPS rose ₹0.41 to ₹2.81. On the standalone basis, revenue was ₹63.16 crore and PAT was ₹6.73 crore, against ₹5.41 crore a year ago.

What changed in Krishival Foods' costs and profit?

Total expenses rose ₹17.47 crore or 28.4% to ₹78.95 crore in Q2 FY26 comparison with Q2 FY26, in line with the increase in revenue. Cost of materials was the largest movement at ₹103.03 crore, up ₹49.24 crore or 91.5%, while employee cost rose ₹1.39 crore or 54.3% to ₹3.95 crore.

Finance costs increased ₹1.22 crore or 164.9% to ₹1.96 crore and depreciation was up ₹1.73 crore or 116.1% at ₹3.22 crore. Other expenses rose ₹4.88 crore or 52.1% to ₹14.24 crore. Other income was higher by ₹0.74 crore or 33.2% at ₹2.97 crore, and there was no exceptional item in either quarter.

Tax expense rose ₹1.16 crore or 71.6% to ₹2.78 crore from ₹1.62 crore in Q2 FY26. Against the previous quarter, total expenses fell ₹3.97 crore or 4.8%, other expenses fell ₹5.46 crore or 27.7% and other income rose ₹1.89 crore or 175.0% to ₹2.97 crore, while tax rose ₹1.26 crore or 82.9%.

How did the first half of FY27 go?

In the first half of FY27, consolidated revenue rose 50.3% to ₹174.62 crore from ₹116.19 crore in H1 FY26, while total income increased 48.0% to ₹178.67 crore from ₹120.71 crore. Profit before tax was ₹16.72 crore, up 26.0% from ₹13.27 crore.

PAT for H1 FY27 was ₹12.42 crore against ₹10.2 crore a year earlier, a rise of 21.8%. EPS increased to ₹5.10 from ₹4.58. The company said in its investor presentation that H1 FY27 revenue grew 50% and EBITDA increased 63%, with the EBITDA margin improving to 14% from 13% in H1 FY26.

What do the balance sheet and cash flow show?

Total assets rose to ₹390.97 crore at 30 September 2026 from ₹250.18 crore at 31 March 2026, and total equity increased to ₹265.61 crore from ₹199.91 crore. Borrowings stood at ₹93.44 crore against ₹36.15 crore at the previous balance sheet date, while cash was ₹34.27 crore compared with ₹28.31 crore.

Inventories increased to ₹75.08 crore from ₹25.90 crore and trade receivables rose to ₹76.03 crore from ₹49.00 crore, while trade payables were ₹15.17 crore against ₹7.43 crore. In the filing, the auditors noted that one subsidiary's unaudited interim results reflect total revenues of Rs. 7407.99 Lakhs and total net profit after tax of Rs. 192.49 Lakhs for the half year ended 30 September 2026.

Year-to-date operating cash flow was negative ₹49.74 crore, compared with negative ₹18.46 crore in H1 FY26. Investing outflow widened to ₹50.23 crore from ₹8.16 crore, while financing inflow rose to ₹105.93 crore from ₹13.07 crore. Capital expenditure was ₹5.84 crore against ₹9.41 crore a year earlier.

How has Krishival Foods done over the last 7 quarters?

Revenue peaked at ₹128.44 crore in Q4 FY25 and bottomed at ₹49.52 crore in Q1 FY26 before recovering through the following quarters. Q2 FY27 revenue of ₹85.66 crore was lower than ₹88.96 crore in Q1 FY27 but higher than ₹66.67 crore in Q2 FY26, with revenue having risen year-on-year in each of the last two quarters.

Net profit rose year-on-year in each of the last three quarters. PAT reached its highest level of ₹6.90 crore in Q2 FY27, while the EBITDA margin also peaked at 13.9% in the quarter, having bottomed at 5.3% in Q4 FY26 and recovered from 11.8% in Q1 FY27.

Which businesses drove the quarter?

Nuts and Dry Fruits recorded revenue of ₹66.66 crore in Q2 FY27, up 25.6% from ₹53.05 crore in Q2 FY26. Segment EBIT was ₹7.51 crore against ₹6.20 crore, with an EBIT margin of 11.3%.

Ice Creams reported revenue of ₹58.45 crore, up 329.2% from ₹13.62 crore in the year-ago quarter. Segment EBIT rose to ₹4.49 crore from ₹1.96 crore, and the EBIT margin was 7.7%.

What else did the company announce?

The board met on 4 November 2026 and approved the unaudited standalone and consolidated financial results, with the asset and liability statement and cash flow statement, for the quarter and half year ended 30 September 2026. It also approved the limited review report, related party transaction disclosures under Regulation 23(9), and a statement on the utilisation of funds raised from the rights issue, along with the monitoring agency report.

The statutory auditor issued an unmodified opinion on the limited review report, and a declaration signed by the Managing Director was enclosed. The trading window for designated persons and their immediate relatives was to open from 6 November 2026. The same-day investor presentation noted a FY29 revenue target of Rs. 1,500 crore.

What did Krishival Foods' management say?

Management said nuts finished-kernel capacity was 20 MT/day and is targeted at 40 MT/day by FY28, with growth of 20-25% expected over the next two to three quarters. Ice cream revenue growth is expected to be almost twice the rate of the nuts segment, and management expects a 50:50 nuts and ice cream revenue mix by March 2028.

The current-year ice cream EBITDA guide was reiterated at 8%, while the call also referred to 15-16% as the ideal target. The Chairman said: "We are targeting further capacity addition with the objective of reaching forty metric ton finished kernel production per day by FY28." Management also said: "Our target EBITDA in nuts is fifteen to sixteen percent, or our target EBITDA in ice cream is also fifteen to sixteen percent."

Management flagged food inflation and volatile sugar, edible-oil and nut input costs, El Niño and crop-pattern uncertainty affecting raw-material availability, capacity-ramp execution and demand-absorption risk, and seasonal working-capital elevation from September sales and a higher B2C mix. Priorities cited on the call included expanding distribution, improving capacity utilisation, strengthening brands and investing in manufacturing and supply-chain capabilities.

How did Krishival Foods shares react?

The filing was made after market hours. From the price when the filing appeared, the stock fell 2.8% after five minutes, 0.9% after 15 minutes and 0.7% after 30 minutes. On the reaction day, measured from the previous close of ₹360.1 to the first close that could trade on the news, the stock moved 0.1%.

The Other Food Products industry median moved 0.9% over the same closes, so the stock's reaction-day move was 1.0 percentage points below the sector median. Past results-day moves were mixed: 0.0% on 11 August 2026, 4.6% on 4 May 2026, negative 2.8% on 10 February 2026, negative 3.6% on 11 November 2025, 0.5% on 12 August 2025 and 5.6% on 24 May 2025.

How did other Other Food Products companies do?

Eight Other Food Products companies had filed this quarter by 6 November 2026. Their median revenue growth was 37.8%, compared with Krishival Foods' 28.5% revenue growth in Q2 FY27. Four peers grew revenue slower than Krishival Foods and four grew faster.

Of the eight peers for which profit was compared, six reported higher profit. The peer set covered companies within the Other Food Products industry.