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- Q2 FY27 results
Kshitij Polyline Q2 FY27 results: net profit down 29.4% to ₹0.36 crore, revenue up 34.4%
Kshitij Polyline Limited reported consolidated Q2 FY27 revenue of ₹16.09 crore, up 34.4% from Q2 FY26 and 12.1% from Q1 FY27. EBITDA rose to ₹1.23 crore and margin widened to 7.6% year on year, while net profit fell 29.4% to ₹0.36 crore and basic EPS remained ₹0.02.
Key points
- Consolidated Q2 FY27 revenue was ₹16.09 crore, up 34.4% from ₹11.97 crore in Q2 FY26.
- EBITDA was ₹1.23 crore, up 95.2% from ₹0.63 crore, while EBITDA margin rose 2.3 percentage points to 7.6%.
- Net profit was ₹0.36 crore, down 29.4% from ₹0.51 crore in Q2 FY26 and 23.4% from ₹0.47 crore in Q1 FY27.
- H1 FY27 revenue was ₹30.43 crore, up 44.4% from ₹21.07 crore, while PAT was ₹0.83 crore, down 13.5% from ₹0.96 crore.
- Total assets increased to ₹98.92 crore from ₹88.94 crore, while borrowings fell to ₹6.46 crore from ₹17.53 crore.
How did Kshitij Polyline perform in Q2 FY27?
On a consolidated basis, Kshitij Polyline reported Q2 FY27 revenue of ₹16.09 crore, compared with ₹11.97 crore in Q2 FY26 and ₹14.35 crore in Q1 FY27. Total income was ₹17.00 crore, against ₹12.82 crore and ₹14.95 crore, respectively. Revenue rose 34.4% year on year and 12.1% sequentially.
EBITDA increased to ₹1.23 crore from ₹0.63 crore in Q2 FY26 and ₹1.18 crore in Q1 FY27. The EBITDA margin was 7.6%, up 2.3 percentage points from the year-ago quarter but down 0.6 percentage points from the previous quarter.
Profit before tax was ₹0.45 crore, compared with ₹0.36 crore a year earlier and ₹0.55 crore in Q1 FY27. Net profit was ₹0.36 crore, down from ₹0.51 crore and ₹0.47 crore, respectively, while basic EPS was ₹0.02, unchanged from Q2 FY26 and lower than ₹0.03 in Q1 FY27.
On a standalone basis, Q2 FY27 revenue was ₹16.05 crore, up 34.1%, while PAT was ₹0.42 crore and profit before tax was ₹0.36 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 16.09 | 14.35 | 11.97 | +34.4% | +12.1% |
| Other income | 0.92 | 0.60 | 0.86 | +7.0% | +53.3% |
| Total expenses | 16.56 | 14.40 | 12.46 | +32.9% | +15.0% |
| EBITDA | 1.23 | 1.18 | 0.63 | +95.2% | +4.2% |
| EBITDA margin | 7.6% | 8.2% | 5.3% | +2.3 pp | −0.6 pp |
| Profit before tax | 0.45 | 0.55 | 0.36 | +25.0% | −18.2% |
| Tax | 0 | 0 | 0 | ||
| Net profit | 0.36 | 0.47 | 0.51 | −29.4% | −23.4% |
| EPS (₹) | 0.02 | 0.03 | 0.02 | +0.0% | −33.3% |
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 Kshitij Polyline's costs and profit?
Total expenses rose to ₹16.56 crore in Q2 FY27 from ₹12.46 crore in Q2 FY26, an increase of ₹4.10 crore. Cost of materials accounted for the largest rise, increasing ₹3.20 crore to ₹14.07 crore from ₹10.87 crore.
Employee cost increased ₹0.07 crore to ₹1.61 crore from ₹1.54 crore, finance costs rose ₹0.20 crore to ₹0.67 crore from ₹0.47 crore, and depreciation increased ₹0.37 crore to ₹1.03 crore from ₹0.66 crore. Other expenses rose ₹0.09 crore to ₹0.48 crore from ₹0.39 crore.
Other income increased ₹0.06 crore to ₹0.92 crore from ₹0.86 crore. Tax was unchanged at ₹0 crore, and there was no exceptional item. Profit before tax rose ₹0.09 crore to ₹0.45 crore, while net profit fell ₹0.15 crore to ₹0.36 crore.
The filings provided with the results do not state a specific reason for the year-on-year decline in net profit.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 14.07 | 10.87 | +3.20 | +29.4% |
| Employee cost | 1.61 | 1.54 | +0.07 | +4.5% |
| Finance costs | 0.67 | 0.47 | +0.20 | +42.6% |
| Depreciation | 1.03 | 0.66 | +0.37 | +56.1% |
| Other expenses | 0.48 | 0.39 | +0.09 | +23.1% |
| Total expenses | 16.56 | 12.46 | +4.10 | +32.9% |
| Other income | 0.92 | 0.86 | +0.06 | +7.0% |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue rose 44.4% to ₹30.43 crore from ₹21.07 crore in H1 FY26. Total income increased 42.5% to ₹31.96 crore from ₹22.43 crore, and profit before tax rose 44.9% to ₹1.00 crore from ₹0.69 crore.
PAT declined 13.5% to ₹0.83 crore from ₹0.96 crore in the year-ago first half. Basic EPS was ₹0.05, compared with ₹0.06 in H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 30.43 | 21.07 | +44.4% |
| Profit before tax | 1 | 0.69 | +44.9% |
| Net profit | 0.83 | 0.96 | −13.5% |
| EPS (₹) | 0.05 | 0.06 | −16.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Cash and cash equivalents increased to ₹0.75 crore from ₹0.25 crore. Inventories rose to ₹17.28 crore from ₹15.47 crore, trade receivables increased to ₹9.30 crore from ₹6.20 crore, and trade payables were ₹6.81 crore against ₹4.60 crore.
H1 FY27 operating cash flow was ₹15.84 crore, compared with negative ₹15.70 crore in H1 FY26. Investing cash flow was negative ₹21.31 crore against negative ₹4.19 crore, while financing cash flow was ₹5.96 crore compared with ₹21.08 crore. Capital expenditure was ₹0.63 crore against ₹0.00 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 98.92 | 88.94 |
| Total equity | 82.45 | 63.05 |
| Borrowings | 6.46 | 17.53 |
| Cash and equivalents | 0.75 | 0.25 |
| Inventories | 17.28 | 15.47 |
| Trade receivables | 9.30 | 6.20 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 15.84 | −15.70 |
| Cash from investing | −21.31 | −4.19 |
| Cash from financing | 5.96 | 21.08 |
| Capital expenditure | 0.63 | 0 |
Source: Company's results filing (XBRL).
How has Kshitij Polyline done over the last 8 quarters?
Revenue rose in each of the last three quarters on a year-on-year basis. It reached ₹16.09 crore in Q2 FY27, above ₹14.35 crore in Q1 FY27 and ₹13.14 crore in Q4 FY26; the lowest quarterly revenue in the series was ₹6.66 crore in Q4 FY25.
Profit was lower than the preceding quarter at ₹0.36 crore, compared with ₹0.47 crore in Q1 FY27. The period’s highest PAT was ₹2.14 crore in Q4 FY26, while the lowest was a net loss of ₹3.81 crore in Q4 FY25. EBITDA margin was 7.6% in the latest quarter, down from 8.2% and well below the 28.1% peak in Q4 FY26.
What else did the company announce?
In a same-day filing dated 5 November 2026, Kshitij Polyline said Independent Director Ruhini Kumar Chakraborty resigned, citing personal reasons and pre-occupation. The filing stated that his resignation was effective from the close of business hours on 5 November 2026, while the cessation details recorded the close of business hours on 4 November 2026.
The company said Chakraborty would also cease to be a member of the Audit Committee and Nomination and Remuneration Committee, and Chairman of the Stakeholders Relationship Committee. He confirmed that there were no material reasons for the resignation beyond those stated in his letter. The same-day filings provided no information on a dividend, fund raise or other appointment.
How did other Stationary companies do?
Five other Stationary companies were compared for the quarter, with a median revenue growth of 17.6%. Four peers grew slower than Kshitij Polyline and one grew faster, while two of the six companies in the profit comparison reported higher profit.
| Kshitij Polyline revenue growth (YoY) | +34.4% |
|---|---|
| Median of 5 other Stationary companies | +17.6% |
| Companies with slower revenue growth than Kshitij Polyline | 4 of 5 |
| Companies with faster revenue growth than Kshitij Polyline | 1 of 5 |
| Companies whose net profit rose | 2 of 6 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Kshitij Polyline's revenue in Q2 FY27?
Revenue from operations was ₹16.09 crore, up 34.4% from ₹11.97 crore in Q2 FY26 (consolidated).
Did Kshitij Polyline make a profit in Q2 FY27?
Yes. Net profit was ₹0.36 crore, against a net profit of ₹0.51 crore in Q2 FY26.
What was Kshitij Polyline's EPS in Q2 FY27?
Basic earnings per share were ₹0.02, against ₹0.02 in Q2 FY26.
When did Kshitij Polyline announce its Q2 FY27 results?
On 5 November 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 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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