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Le Merite Exports Q2 FY27 results: net profit ₹0.93 crore, revenue down 48.8%
Le Merite Exports Limited reported consolidated revenue of ₹108.94 crore and a net profit of ₹0.93 crore for Q2 FY27. EBITDA was ₹1.67 crore, with a margin of 1.5%, while basic EPS was ₹0.07; revenue fell from Q2 FY26, but profit improved from Q1 FY27.
Key points
- Q2 FY27 consolidated revenue was ₹108.94 crore, down ₹103.67 crore or 48.8% from Q2 FY26.
- EBITDA was ₹1.67 crore in Q2 FY27, down ₹10.91 crore or 86.7% from ₹12.58 crore in Q2 FY26.
- The EBITDA margin was 1.5%, compared with 5.9% in Q2 FY26 and -10.7% in Q1 FY27.
- Le Merite Exports reported a net profit of ₹0.93 crore and basic EPS of ₹0.07 in Q2 FY27.
- Total assets were ₹280.35 crore on 30 September 2026, while borrowings were ₹121.41 crore and cash was ₹1.76 crore.
How did Le Merite Exports perform in Q2 FY27?
Le Merite Exports reported consolidated revenue of ₹108.94 crore, total income of ₹110.26 crore, EBITDA of ₹1.67 crore and a net profit of ₹0.93 crore for Q2 FY27. EBITDA margin was 1.5% and basic EPS was ₹0.07. The results are consolidated, and the board also approved standalone results on 5 November 2026.
Against Q2 FY26, revenue fell ₹103.67 crore, or 48.8%, EBITDA fell ₹10.91 crore, or 86.7%, and profit before tax fell ₹10.55 crore, or 96.4%, to ₹0.39 crore. Basic EPS declined by ₹3.43 to ₹0.07, while the EBITDA margin fell 4.4 percentage points to 1.5%.
Compared with Q1 FY27, revenue rose ₹19.19 crore, or 21.4%, and EBITDA moved from a loss of ₹9.58 crore to a profit of ₹1.67 crore. Profit before tax moved from a loss of ₹5.42 crore to ₹0.39 crore, net profit moved from a loss of ₹4.58 crore to ₹0.93 crore, and basic EPS moved from -₹0.36 to ₹0.07.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 108.94 | 89.75 | 212.61 | −48.8% | +21.4% |
| Other income | 1.32 | 5.95 | 2.26 | −41.6% | −77.8% |
| Total expenses | 109.88 | 101.12 | 203.93 | −46.1% | +8.7% |
| EBITDA | 1.67 | −9.58 | 12.58 | −86.7% | turned to profit |
| EBITDA margin | 1.5% | -10.7% | 5.9% | −4.4 pp | +12.2 pp |
| Profit before tax | 0.39 | −5.42 | 10.94 | −96.4% | turned to profit |
| Tax | −0.54 | −0.84 | 2.45 | ||
| Net profit | 0.93 | −4.58 | turned to profit | ||
| EPS (₹) | 0.07 | −0.36 | 3.50 | −98.0% | turned to profit |
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 Le Merite Exports' costs and profit?
Le Merite Exports’ total expenses were ₹109.88 crore in Q2 FY27, down ₹94.05 crore or 46.1% from ₹203.93 crore in Q2 FY26. Employee cost fell ₹0.12 crore, or 15.0%, finance costs fell ₹1.56 crore, or 40.0%, and other expenses fell ₹4.54 crore, or 41.5%. There was no exceptional item.
Other income was ₹1.32 crore in Q2 FY27, down ₹0.94 crore or 41.6% from ₹2.26 crore in Q2 FY26. The quarter recorded tax expense of ₹0.54 crore, compared with tax expense of ₹2.45 crore in the year-ago quarter. The filing does not state any further reason for these changes.
Against Q1 FY27, other expenses fell ₹10.49 crore, or 62.1%, and employee cost fell ₹0.05 crore, or 6.8%. Finance costs rose ₹0.81 crore, or 52.9%, and depreciation rose ₹0.01 crore, or 3.8%, while other income fell ₹4.63 crore, or 77.8%. The quarter had no exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.68 | 0.80 | −0.12 | −15.0% |
| Finance costs | 2.34 | 3.90 | −1.56 | −40.0% |
| Other expenses | 6.39 | 10.93 | −4.54 | −41.5% |
| Total expenses | 109.88 | 203.93 | −94.05 | −46.1% |
| Other income | 1.32 | 2.26 | −0.94 | −41.6% |
| Tax | −0.54 | 2.45 | −2.99 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, Le Merite Exports reported total assets of ₹280.35 crore, compared with ₹258.71 crore on 31 March 2026. Total equity fell to ₹131.31 crore from ₹134.93 crore, while borrowings rose to ₹121.41 crore from ₹90.46 crore. Cash fell to ₹1.76 crore from ₹10.06 crore; inventories were ₹5.7 crore versus ₹7.48 crore.
For H1 FY27, operating cash flow was -₹36.26 crore, compared with ₹13.18 crore in H1 FY26. Investing cash flow was ₹0.27 crore against -₹7.35 crore, while financing cash flow was ₹27.69 crore against -₹12.93 crore. Capital expenditure was ₹0 crore in H1 FY27, compared with ₹5.46 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 280.35 | 258.71 |
| Total equity | 131.31 | 134.93 |
| Borrowings | 121.41 | 90.46 |
| Cash and equivalents | 1.76 | 10.06 |
| Inventories | 5.70 | 7.48 |
| Trade receivables | 110.46 | 83.53 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −36.26 | 13.18 |
| Cash from investing | 0.27 | −7.35 |
| Cash from financing | 27.69 | −12.93 |
| Capital expenditure | 0 | 5.46 |
Source: Company's results filing (XBRL).
How has Le Merite Exports done over the last 6 quarters?
Revenue reached ₹212.61 crore in Q2 FY26, then fell to ₹73.49 crore in Q3 FY26 and ₹75.31 crore in Q4 FY26. It rose to ₹89.75 crore in Q1 FY27 and ₹108.94 crore in Q2 FY27, showing a recovery in the latest two quarters from the lower level recorded after Q2 FY26.
Profit after tax was ₹2.05 crore in Q3 FY26 and ₹0.86 crore in Q4 FY26, before a net loss of ₹4.58 crore in Q1 FY27. It moved back to a net profit of ₹0.93 crore in Q2 FY27. The EBITDA margin fell from 5.9% in Q2 FY26 to -0.1% in Q4 FY26 and -10.7% in Q1 FY27, then improved to 1.5% in Q2 FY27.
Revenue peaked at ₹217.86 crore in Q4 FY25 and bottomed at ₹73.49 crore in Q3 FY26. The latest quarter shows revenue and profit moving higher from Q1 FY27, while the EBITDA margin moved above zero from its negative level in the preceding quarter.
Quick answers
What was Le Merite Exports' revenue in Q2 FY27?
Revenue from operations was ₹108.94 crore, down 48.8% from ₹212.61 crore in Q2 FY26 (consolidated).
Did Le Merite Exports make a profit in Q2 FY27?
Yes. Net profit was ₹0.93 crore.
What was Le Merite Exports' EPS in Q2 FY27?
Basic earnings per share were ₹0.07, against ₹3.50 in Q2 FY26.
When did Le Merite Exports 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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