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Kuantum Papers Q2 FY27 results: net profit down 61.2% to ₹2.24 crore, revenue down 0.2%
Kuantum Papers Limited reported standalone revenue of ₹279.10 crore in Q2 FY27, with EBITDA of ₹34.46 crore and a 12.3% margin. Profit after tax was ₹2.24 crore and basic EPS was ₹0.26, compared with ₹5.77 crore and ₹0.66 in Q2 FY26; the company had no subsidiaries, so consolidated results were not applicable.
Key points
- Q2 FY27 revenue was ₹279.10 crore, down ₹0.60 crore or 0.2% from Q2 FY26.
- EBITDA was ₹34.46 crore, up ₹0.12 crore or 0.3% from Q2 FY26, with the margin unchanged at 12.3%.
- Profit before tax was ₹1.22 crore, down ₹7.13 crore or 85.4% from Q2 FY26, while profit after tax was ₹2.24 crore, down ₹3.53 crore or 61.2%.
- Basic EPS was ₹0.26 in Q2 FY27, down ₹0.40 from ₹0.66 in Q2 FY26 and ₹0.71 in Q1 FY27.
- H1 FY27 revenue was ₹582.85 crore, up ₹80.22 crore or 16.0% from H1 FY26, while profit after tax was ₹8.46 crore, down ₹9.37 crore or 52.6%.
How did Kuantum Papers perform in Q2 FY27?
Kuantum Papers reported standalone revenue of ₹279.10 crore in Q2 FY27, down ₹0.60 crore or 0.2% from ₹279.70 crore in Q2 FY26 and ₹24.65 crore or 8.1% from ₹303.75 crore in Q1 FY27. EBITDA was ₹34.46 crore at a 12.3% margin, against ₹34.34 crore at 12.3% a year earlier and ₹40.10 crore at 13.2% in the previous quarter.
Profit before tax was ₹1.22 crore, down ₹7.13 crore or 85.4% from Q2 FY26 and ₹9.55 crore or 88.7% from Q1 FY27. The company reported a net profit of ₹2.24 crore and basic EPS of ₹0.26, compared with a net profit of ₹5.77 crore and EPS of ₹0.66 in the year-ago quarter and ₹6.23 crore and ₹0.71 in the previous quarter.
The filing said production and profitability were affected by a planned shutdown of one production line from 29 June 2026 to 25 August 2026 for the Mill Expansion & Upgradation Project, along with planned shutdown and maintenance of the power plant. The production line was recommissioned on 26 August 2026, while management said PM3 was commissioned on 28 August 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 279.10 | 303.75 | 279.70 | −0.2% | −8.1% |
| Other income | 3 | 2.85 | 2.21 | +35.7% | +5.3% |
| Total expenses | 280.88 | 295.83 | 273.56 | +2.7% | −5.1% |
| EBITDA | 34.46 | 40.10 | 34.34 | +0.3% | −14.1% |
| EBITDA margin | 12.3% | 13.2% | 12.3% | +0.0 pp | −0.9 pp |
| Profit before tax | 1.22 | 10.77 | 8.35 | −85.4% | −88.7% |
| Tax | −1.02 | 4.54 | 2.58 | ||
| Net profit | 2.24 | 6.23 | 5.77 | −61.2% | −64.0% |
| EPS (₹) | 0.26 | 0.71 | 0.66 | −60.6% | −63.4% |
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 Kuantum Papers' costs and profit?
Total expenses were ₹280.88 crore in Q2 FY27, up ₹7.32 crore or 2.7% from ₹273.56 crore in Q2 FY26. Cost of materials consumed fell ₹9.85 crore or 9.2% to ₹97.12 crore, but employee cost rose ₹3.11 crore or 13.8% to ₹25.62 crore, finance costs rose ₹4.64 crore or 39.0% to ₹16.54 crore, and depreciation rose ₹3.40 crore or 20.9% to ₹19.70 crore.
Other expenses were ₹120.15 crore, up ₹4.92 crore or 4.3% from ₹115.23 crore in Q2 FY26, while other income rose ₹0.79 crore or 35.7% to ₹3 crore. There was no exceptional item. The company recorded deferred tax of ₹1.02 crore for the quarter, against total tax of ₹2.58 crore in the year-ago quarter, which contributed to a net profit of ₹2.24 crore despite profit before tax of ₹1.22 crore.
Against Q1 FY27, total expenses fell ₹14.95 crore or 5.1% to ₹280.88 crore and cost of materials fell ₹32.22 crore or 24.9% to ₹97.12 crore. Finance costs increased ₹2.01 crore or 13.8%, depreciation increased ₹2.05 crore or 11.6%, and employee cost increased ₹0.26 crore or 1.0%; there was no exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 97.12 | 106.97 | −9.85 | −9.2% |
| Employee cost | 25.62 | 22.51 | +3.11 | +13.8% |
| Finance costs | 16.54 | 11.90 | +4.64 | +39.0% |
| Depreciation | 19.70 | 16.30 | +3.40 | +20.9% |
| Other expenses | 120.15 | 115.23 | +4.92 | +4.3% |
| Total expenses | 280.88 | 273.56 | +7.32 | +2.7% |
| Other income | 3 | 2.21 | +0.79 | +35.7% |
| Tax | −1.02 | 2.58 | −3.60 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, Kuantum Papers reported revenue of ₹582.85 crore, up ₹80.22 crore or 16.0% from ₹502.63 crore in H1 FY26. Total income was ₹588.70 crore, up ₹82.43 crore or 16.3% from ₹506.27 crore, while profit before tax was ₹11.98 crore, down ₹12.61 crore or 51.3% from ₹24.59 crore.
H1 FY27 net profit was ₹8.46 crore, down ₹9.37 crore or 52.6% from ₹17.83 crore in H1 FY26. Basic EPS was ₹0.97, down ₹1.07 or 52.5% from ₹2.04. The filing did not give a separate H1 FY27 EBITDA figure in the supplied standalone results data.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 582.85 | 502.63 | +16.0% |
| Profit before tax | 11.98 | 24.59 | −51.3% |
| Net profit | 8.46 | 17.83 | −52.6% |
| EPS (₹) | 0.97 | 2.04 | −52.5% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹2,559.50 crore, up from ₹2,398.86 crore at 31 March 2026, while total equity was ₹1,214.96 crore, down from ₹1,228.32 crore. Borrowings were ₹961.59 crore, up from ₹859.84 crore, and cash and cash equivalents were ₹60.77 crore, up from ₹40.93 crore.
Inventories rose to ₹150.18 crore from ₹131.44 crore, while trade receivables fell to ₹29.79 crore from ₹44.27 crore and trade payables increased to ₹105.90 crore from ₹64.04 crore. H1 FY27 operating cash flow was ₹110.26 crore, compared with ₹139.32 crore in H1 FY26.
Investing cash flow was negative ₹140.84 crore in H1 FY27, compared with negative ₹124.47 crore a year earlier, while financing cash flow was positive ₹50.42 crore against negative ₹23.33 crore. Capital expenditure was ₹133.78 crore, compared with ₹124.78 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,560 | 2,399 |
| Total equity | 1,215 | 1,228 |
| Borrowings | 961.59 | 859.84 |
| Cash and equivalents | 60.77 | 40.93 |
| Inventories | 150.18 | 131.44 |
| Trade receivables | 29.79 | 44.27 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 110.26 | 139.32 |
| Cash from investing | −140.84 | −124.47 |
| Cash from financing | 50.42 | −23.33 |
| Capital expenditure | 133.78 | 124.78 |
Source: Company's results filing (XBRL).
How has Kuantum Papers done over the last 8 quarters?
Revenue rose from ₹222.92 crore in Q1 FY26 to ₹303.75 crore in Q1 FY27, before falling to ₹279.10 crore in Q2 FY27. The highest quarterly revenue in the period was ₹303.75 crore in Q1 FY27, while the lowest was ₹222.92 crore in Q1 FY26.
Profit after tax peaked at ₹26.12 crore in Q4 FY25 and fell to ₹2.24 crore in Q2 FY27, the lowest quarterly profit shown. EBITDA margin peaked at 21.6% in Q4 FY25, fell to 12.3% in Q2 FY26, recovered to 15.9% in Q4 FY26, and was 12.3% in the latest quarter.
What did Kuantum Papers' management say?
Management identified input-cost pressures from chemicals, fuel, wheat straw and coal, including the West Asia conflict and coal diversion to power generators. It also referred to lower-GSM demand constraining throughput and environmental clearance and lime-kiln/CNCG execution remaining pending. Management said no additional capex was planned beyond current commitments and that it was not looking at changes to its equity capital structure.
How did Kuantum Papers shares react?
After the filing, Kuantum Papers fell 0.9% in the first five minutes, 0.4% in 15 minutes and 0.6% in 30 minutes. The stock closed the reaction session down 2.5% from its pre-results close, compared with a 0.7% rise for the Paper & Paper Products industry median.
Earlier reaction-day moves were down 6.8% on 12 August 2026, down 1.8% on 26 May 2026 and up 2.2% on 7 February 2026. The other listed past moves were up 0.3% on 7 November 2025, down 6.9% on 8 August 2025, down 1.6% on 20 May 2025, down 5.4% on 11 February 2025 and up 2.2% on 12 November 2024.
| After the filing | Stock | Paper & Paper Products median |
|---|---|---|
| 5 minutes | −0.9% | |
| 15 minutes | −0.4% | |
| 30 minutes | −0.6% | |
| Reaction day | −2.5% | +0.7% |
| Next day | −5.9% | −0.0% |
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 |
|---|---|
| 12 August 2026 | −6.8% |
| 26 May 2026 | −1.8% |
| 7 February 2026 | +2.2% |
| 7 November 2025 | +0.3% |
| 8 August 2025 | −6.9% |
| 20 May 2025 | −1.6% |
| 11 February 2025 | −5.4% |
| 12 November 2024 | +2.2% |
Source: MarketPing price-reaction measurement.
How did other Paper & Paper Products companies do?
Twelve other Paper & Paper Products companies were compared for revenue growth, with a median revenue growth of 26.2% as of 4 November 2026. Of the other companies, one grew more slowly than Kuantum Papers and 11 grew faster than the company.
Thirteen of the 14 companies for which profit was compared reported higher profit. Kuantum Papers’ own standalone Q2 FY27 revenue was ₹279.10 crore and its net profit was ₹2.24 crore.
| Kuantum Papers revenue growth (YoY) | −0.2% |
|---|---|
| Median of 12 other Paper & Paper Products companies | +26.2% |
| Companies with slower revenue growth than Kuantum Papers | 1 of 12 |
| Companies with faster revenue growth than Kuantum Papers | 11 of 12 |
| Companies whose net profit rose | 13 of 14 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Kuantum Papers' revenue in Q2 FY27?
Revenue from operations was ₹279.10 crore, down 0.2% from ₹279.70 crore in Q2 FY26 (standalone).
Did Kuantum Papers make a profit in Q2 FY27?
Yes. Net profit was ₹2.24 crore, against a net profit of ₹5.77 crore in Q2 FY26.
What was Kuantum Papers' EPS in Q2 FY27?
Basic earnings per share were ₹0.26, against ₹0.66 in Q2 FY26.
How did Kuantum Papers shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.5% from the previous close; the median Paper & Paper Products stock moved +0.7%.
When did Kuantum Papers announce its Q2 FY27 results?
On 28 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of Standalone Unaudited Financial Results For Quarter/Half Year Ended 30Th September, 2026 (BSE, 19 October 2026) · PDF
- Board Meeting Outcome for OUTCOME OF MEETING OF BOARD OF DIRECTORS AND UNAUDITED FINANCIAL RESULTS FOR QUARTER/HALF YEAR ENDED 30TH SEPTEMBER, 2026 (BSE, 28 October 2026) · PDF
- OUTCOME OF MEETING OF BOARD OF DIRECTORS AND UNAUDITED FINANCIAL RESULTS FOR QUARTER/HALF YEAR ENDED 30TH SEPTEMBER, 2026 (BSE, 28 October 2026) · PDF
- The earnings call (3 November 2026)
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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