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Kwality Wall's Q2 FY27 results: net loss of ₹17.20 crore
Kwality Wall's (India) Limited reported standalone Q2 FY27 revenue of ₹463.60 crore and a net loss of ₹17.20 crore for the July–September 2026 quarter. Against Q1 FY27, revenue fell 47.2%, EBITDA margin declined 6.7 percentage points, and EPS moved from ₹0.22 to a loss of ₹0.07.
Key points
- Revenue was ₹463.60 crore in Q2 FY27, down 47.2% from ₹878.30 crore in Q1 FY27.
- EBITDA was ₹23.60 crore, down 77.2% from ₹103.40 crore in the previous quarter.
- EBITDA margin fell 6.7 percentage points to 5.1% from 11.8% in Q1 FY27.
- The company reported a net loss of ₹17.20 crore and basic EPS of ₹0.07, against a net profit of ₹50.70 crore and EPS of ₹0.22 in Q1 FY27.
- Cash was ₹214.40 crore on 30 September 2026, while borrowings stood at ₹24.80 crore.
How did Kwality Wall's perform in Q2 FY27?
Kwality Wall's reported standalone revenue of ₹463.60 crore in Q2 FY27, down 47.2% from ₹878.30 crore in Q1 FY27. Total income fell 46.9% to ₹467.20 crore from ₹879.80 crore, while total expenses declined 40.4% to ₹491.70 crore from ₹825.60 crore. No year-ago comparison is provided in the facts.
EBITDA was ₹23.60 crore in Q2 FY27, down 77.2% from ₹103.40 crore in Q1 FY27, and the EBITDA margin fell 6.7 percentage points to 5.1% from 11.8%. The company reported a loss before tax of ₹25.20 crore, compared with profit before tax of ₹67.70 crore in the previous quarter.
The standalone net loss was ₹17.20 crore in Q2 FY27, against a net profit of ₹50.70 crore in Q1 FY27, while basic EPS was a loss of ₹0.07 against EPS of ₹0.22. A net loss of ₹100.20 crore and basic EPS of ₹0.43 were reported for the corresponding year-ago quarter in the filing.
| ₹ crore | Q2 FY27 | Q1 FY27 | QoQ |
|---|---|---|---|
| Revenue from operations | 463.60 | 878.30 | −47.2% |
| Other income | 3.60 | 1.50 | +140.0% |
| Total expenses | 491.70 | 825.60 | −40.4% |
| EBITDA | 23.60 | 103.40 | −77.2% |
| EBITDA margin | 5.1% | 11.8% | −6.7 pp |
| Profit before tax | −25.20 | 67.70 | turned to loss |
| Tax | −8 | 17 | |
| Net profit | −17.20 | 50.70 | turned to loss |
| EPS (₹) | −0.07 | 0.22 | turned to loss |
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 do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹1,744.20 crore, lower than ₹1,836.10 crore on 31 March 2026, while total equity was ₹705.70 crore against ₹672.20 crore. Borrowings fell to ₹24.80 crore from ₹50.30 crore, and cash was ₹214.40 crore against ₹14.00 crore.
Inventories declined to ₹137.60 crore from ₹303.30 crore, trade receivables fell to ₹44.20 crore from ₹107.70 crore, and trade payables were ₹418.90 crore against ₹516.90 crore. For H1 FY27, operating cash flow was ₹291.70 crore, investing cash flow was negative ₹18.70 crore, financing cash flow was negative ₹72.60 crore, and capital expenditure was ₹18.70 crore. A year-ago cash-flow comparison is not provided.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,744 | 1,836 |
| Total equity | 705.70 | 672.20 |
| Borrowings | 24.80 | 50.30 |
| Cash and equivalents | 214.40 | 14 |
| Inventories | 137.60 | 303.30 |
| Trade receivables | 44.20 | 107.70 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 |
|---|---|
| Cash from operations | 291.70 |
| Cash from investing | −18.70 |
| Cash from financing | −72.60 |
| Capital expenditure | 18.70 |
Source: Company's results filing (XBRL).
How did other Dairy Products companies do?
Six other Dairy Products companies that had filed results for the quarter were compared with Kwality Wall's as of 6 November 2026. Their median revenue growth was 20.1%. The available facts do not provide the number of peers whose revenue grew slower or faster than the company.
Two of the six peers reported higher profit, based on profit comparisons covering all six companies. The peer set excludes Kwality Wall's, and the comparison covers the other Dairy Products companies that had filed for this quarter.
| Kwality Wall's revenue growth (YoY) | not comparable |
|---|---|
| Median of 6 other Dairy Products companies | +20.1% |
| Companies whose net profit rose | 2 of 6 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Kwality Wall's' revenue in Q2 FY27?
Revenue from operations was ₹463.60 crore (standalone).
Did Kwality Wall's make a profit in Q2 FY27?
No. It reported a net loss of ₹17.20 crore.
What was Kwality Wall's' EPS in Q2 FY27?
Basic loss per share was ₹0.07.
When did Kwality Wall's announce its Q2 FY27 results?
On 6 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration Of Unaudited Financial Results For The Quarter And Half Year Ended 30Th September, 2026 (BSE, 3 November 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On 6Th November, 2026 (BSE, 6 November 2026) · PDF
- Results For The Quarter And Half Year Ended 30Th September, 2026 (BSE, 6 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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