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Mishtann Foods Q2 FY27 results: net profit down 99.0% to ₹0.93 crore, revenue down 95.0%
Mishtann Foods Ltd reported consolidated revenue of ₹19.32 crore and a net profit of ₹0.93 crore in Q2 FY27, compared with ₹386.47 crore and ₹95.45 crore in Q2 FY26. EBITDA was ₹1.60 crore at an 8.3% margin, while revenue and profit improved from Q1 FY27. The auditors identified a material uncertainty that may cast significant doubt on the company’s ability to continue as a going concern.
Key points
- Q2 FY27 consolidated revenue was ₹19.32 crore, down ₹367.15 crore or 95.0% from ₹386.47 crore in Q2 FY26.
- EBITDA was ₹1.60 crore at an 8.3% margin, against ₹96.48 crore and 25.0% in Q2 FY26.
- Net profit was ₹0.93 crore and basic EPS was ₹0.01, compared with ₹95.45 crore and ₹0.88 in Q2 FY26.
- Revenue rose ₹1.03 crore or 5.6% from ₹18.29 crore in Q1 FY27, while net profit rose ₹0.44 crore or 89.8%.
- For H1 FY27, revenue was ₹37.61 crore and net profit was ₹1.42 crore, down ₹734.91 crore and ₹176.69 crore respectively from H1 FY26.
How did Mishtann Foods perform in Q2 FY27?
Mishtann Foods reported consolidated revenue of ₹19.32 crore in Q2 FY27, down ₹367.15 crore or 95.0% from ₹386.47 crore in Q2 FY26. EBITDA fell ₹94.88 crore or 98.3% to ₹1.60 crore, while the EBITDA margin declined 16.7 percentage points to 8.3%.
Against Q1 FY27, revenue rose ₹1.03 crore or 5.6% from ₹18.29 crore. EBITDA increased ₹0.43 crore or 36.8% to ₹1.60 crore and its margin rose 1.9 percentage points to 8.3%. Net profit rose ₹0.44 crore or 89.8% to ₹0.93 crore, and basic EPS was ₹0.01.
On a standalone basis, Q2 FY27 revenue was ₹19.32 crore and net profit was ₹0.94 crore. Standalone revenue was down 72.0%, while profit before tax was ₹1.00 crore. The figures above are consolidated unless stated otherwise.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 19.32 | 18.29 | 386.47 | −95.0% | +5.6% |
| Other income | 0.01 | 0.03 | 0.01 | +0.0% | −66.7% |
| Total expenses | 18.03 | 17.55 | 290.53 | −93.8% | +2.7% |
| EBITDA | 1.60 | 1.17 | 96.48 | −98.3% | +36.8% |
| EBITDA margin | 8.3% | 6.4% | 25.0% | −16.7 pp | +1.9 pp |
| Profit before tax | 1.31 | 0.77 | 95.95 | −98.6% | +70.1% |
| Tax | 0.38 | 0.28 | 0.50 | −24.0% | +35.7% |
| Net profit | 0.93 | 0.49 | 95.45 | −99.0% | +89.8% |
| EPS (₹) | 0.01 | 0.00 | 0.88 | −98.9% |
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 Mishtann Foods' costs and profit?
Total expenses fell ₹272.50 crore or 93.8% to ₹18.03 crore from ₹290.53 crore in Q2 FY26. Cost of materials consumed declined ₹221.91 crore or 92.7% to ₹17.50 crore, while other expenses fell ₹49.65 crore or 99.7% to ₹0.15 crore.
Employee cost was ₹0.06 crore, down ₹0.72 crore or 92.3% from ₹0.78 crore, and finance costs were ₹0.21 crore, down ₹0.22 crore or 51.2% from ₹0.43 crore. Depreciation was ₹0.10 crore, down ₹0.02 crore or 16.7% from ₹0.12 crore.
Other income was unchanged at ₹0.01 crore, and there was no exceptional item. Tax expense was ₹0.38 crore, down ₹0.12 crore or 24.0% from ₹0.50 crore. The filing did not state reasons for the changes in revenue or costs.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 17.50 | 239.41 | −221.91 | −92.7% |
| Employee cost | 0.06 | 0.78 | −0.72 | −92.3% |
| Finance costs | 0.21 | 0.43 | −0.22 | −51.2% |
| Depreciation | 0.10 | 0.12 | −0.02 | −16.7% |
| Other expenses | 0.15 | 49.80 | −49.65 | −99.7% |
| Total expenses | 18.03 | 290.53 | −272.50 | −93.8% |
| Other income | 0.01 | 0.01 | 0 | +0.0% |
| Tax | 0.38 | 0.50 | −0.12 | −24.0% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹37.61 crore, down ₹734.91 crore or 95.1% from ₹772.52 crore in H1 FY26. Total income was ₹37.65 crore, compared with ₹772.57 crore, a decline of ₹734.92 crore or 95.1%.
Profit before tax fell ₹177.09 crore or 98.8% to ₹2.08 crore from ₹179.17 crore. Net profit declined ₹176.69 crore or 99.2% to ₹1.42 crore from ₹178.11 crore, while basic EPS fell ₹1.64 to ₹0.01 from ₹1.65.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 37.61 | 772.52 | −95.1% |
| Profit before tax | 2.08 | 179.17 | −98.8% |
| Net profit | 1.42 | 178.11 | −99.2% |
| EPS (₹) | 0.01 | 1.65 | −99.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹2,353.32 crore, up from ₹2,284.18 crore at 31 March 2026. Total equity was ₹1,329.86 crore, compared with ₹1,301.45 crore, while borrowings fell to ₹53.97 crore from ₹62.21 crore. Cash was ₹0.15 crore against ₹0.17 crore.
Trade receivables were ₹2,342.98 crore, compared with ₹2,273.24 crore at the previous balance sheet date. Inventories were ₹2.95 crore against ₹2.91 crore, and trade payables were ₹920.11 crore against ₹871.96 crore.
H1 FY27 operating cash flow was ₹8.22 crore, up from ₹2.05 crore in H1 FY26. Financing cash flow was negative ₹8.24 crore, compared with negative ₹1.21 crore, while investing cash flow and capital expenditure were unchanged at zero.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,353 | 2,284 |
| Total equity | 1,330 | 1,301 |
| Borrowings | 53.97 | 62.21 |
| Cash and equivalents | 0.15 | 0.17 |
| Inventories | 2.95 | 2.91 |
| Trade receivables | 2,343 | 2,273 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 8.22 | 2.05 |
| Cash from investing | 0 | 0 |
| Cash from financing | −8.24 | −1.21 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Mishtann Foods done over the last 8 quarters?
Revenue peaked at ₹386.47 crore in Q2 FY26 and bottomed at ₹18.29 crore in Q1 FY27, before rising to ₹19.32 crore in Q2 FY27. The current quarter was the second consecutive period of sequential revenue growth.
Net profit peaked at ₹95.45 crore in Q2 FY26 and bottomed at ₹0.04 crore in Q4 FY26. It rose to ₹0.49 crore in Q1 FY27 and ₹0.93 crore in Q2 FY27.
The EBITDA margin peaked at 25.5% in Q4 FY25 and bottomed at 1.9% in Q4 FY26. It increased to 6.4% in Q1 FY27 and 8.3% in Q2 FY27.
What did the auditors point out?
The auditors said nothing came to their attention, except for the matters set out in Annexure 1, indicating that the standalone unaudited results did not fail to disclose information required under Regulation 33 or contain a material misstatement. They added that the audit report dated 30 May 2026 was also qualified in respect of the same matter.
The matters included ongoing regulatory proceedings, substantial trade receivables, significant indirect and direct tax litigations and related uncertainties. The auditors said these indicated a material uncertainty that may cast significant doubt on the company’s ability to continue as a going concern, although the financial statements were prepared on a going-concern basis based on management’s assessment.
Other stated matters included SEBI allegations concerning fictitious transactions and misutilisation of rights issue proceeds, high trade receivables, no Expected Credit Loss provision, a GST demand, unpaid income tax liabilities and a disputed income tax demand. The auditors said they were unable to comment on the potential impact or adequacy of non-provision in these areas.
How did other Packaged Foods companies do?
Twelve other Packaged Foods companies had filed results for the quarter as of 5 November 2026. Their median revenue growth was 4.6%, while 12 companies grew faster than Mishtann Foods and none grew slower than the company.
Profit was compared across 15 peers, of which 7 reported higher profit. Mishtann Foods therefore recorded a year-on-year revenue decline while its peers collectively reported growth.
| Mishtann Foods revenue growth (YoY) | −95.0% |
|---|---|
| Median of 12 other Packaged Foods companies | +4.6% |
| Companies with slower revenue growth than Mishtann Foods | 0 of 12 |
| Companies with faster revenue growth than Mishtann Foods | 12 of 12 |
| Companies whose net profit rose | 7 of 15 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Mishtann Foods' revenue in Q2 FY27?
Revenue from operations was ₹19.32 crore, down 95.0% from ₹386.47 crore in Q2 FY26 (consolidated).
Did Mishtann Foods make a profit in Q2 FY27?
Yes. Net profit was ₹0.93 crore, against a net profit of ₹95.45 crore in Q2 FY26.
What was Mishtann Foods' EPS in Q2 FY27?
Basic earnings per share were ₹0.01, against ₹0.88 in Q2 FY26.
When did Mishtann Foods announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
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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