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Nandan Denim Q2 FY27 results: net profit up 21.4% to ₹11.47 crore, revenue down 22.5%
Nandan Denim Limited reported standalone Q2 FY27 revenue of ₹607.98 crore, down 22.5% from Q2 FY26, while net profit rose 21.4% to ₹11.47 crore. EBITDA increased to ₹24.33 crore and margin improved to 4.0%, although revenue was lower than Q1 FY27 and net profit declined 22.5% from the previous quarter.
Key points
- Standalone Q2 FY27 revenue was ₹607.98 crore, down ₹176.71 crore or 22.5% from Q2 FY26.
- Net profit was ₹11.47 crore, up ₹2.02 crore or 21.4% from Q2 FY26, while basic EPS rose to ₹0.08.
- EBITDA was ₹24.33 crore, up ₹0.89 crore or 3.8% from Q2 FY26; EBITDA margin improved to 4.0% from 3.0%.
- Revenue fell ₹14.41 crore or 2.3% from Q1 FY27, while net profit declined ₹3.33 crore or 22.5%.
- H1 FY27 revenue was ₹1,230.37 crore, down 32.9% from H1 FY26, while PAT rose 27.2% to ₹26.27 crore.
How did Nandan Denim perform in Q2 FY27?
Nandan Denim’s standalone results for Q2 FY27 showed revenue of ₹607.98 crore, down ₹176.71 crore or 22.5% from ₹784.69 crore in Q2 FY26. Total income was ₹609.98 crore, down ₹176.54 crore or 22.4%. EBITDA rose ₹0.89 crore or 3.8% to ₹24.33 crore, and margin increased to 4.0% from 3.0%.
Profit before tax was ₹9.56 crore, up ₹1.24 crore or 14.9% from Q2 FY26, and net profit rose ₹2.02 crore or 21.4% to ₹11.47 crore. Basic EPS increased ₹0.01 or 14.3% to ₹0.08. Against Q1 FY27, revenue fell ₹14.41 crore or 2.3%, EBITDA fell ₹0.05 crore or 0.2%, and net profit declined ₹3.33 crore or 22.5%.
The results are standalone, and the filing also includes the first-half figures. The board approved the unaudited results for the quarter and half year ended 30 September 2026, along with the limited review report, on 2 November 2026. The auditor reported that nothing had come to its attention indicating that the statement had not disclosed the required information or contained any material misstatement.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 607.98 | 622.39 | 784.69 | −22.5% | −2.3% |
| Other income | 1.99 | 2.43 | 1.83 | +8.7% | −18.1% |
| Total expenses | 600.42 | 614.50 | 778.20 | −22.8% | −2.3% |
| EBITDA | 24.33 | 24.38 | 23.44 | +3.8% | −0.2% |
| EBITDA margin | 4.0% | 3.9% | 3.0% | +1.0 pp | +0.1 pp |
| Profit before tax | 9.56 | 10.32 | 8.32 | +14.9% | −7.4% |
| Tax | −1.91 | −4.48 | −1.13 | ||
| Net profit | 11.47 | 14.80 | 9.45 | +21.4% | −22.5% |
| EPS (₹) | 0.08 | 0.10 | 0.07 | +14.3% | −20.0% |
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 Nandan Denim's costs and profit?
Against Q2 FY26, total expenses fell ₹177.78 crore or 22.8% to ₹600.42 crore. Cost of materials consumed declined ₹195.62 crore or 28.5% to ₹490.96 crore, while finance costs fell ₹1.82 crore or 26.4% to ₹5.08 crore. Other income increased ₹0.16 crore or 8.7% to ₹1.99 crore.
Employee benefit expenses increased ₹1.01 crore or 4.3% to ₹24.73 crore, depreciation and amortisation rose ₹1.63 crore or 16.2% to ₹11.68 crore, and other expenses increased ₹12.42 crore or 26.9% to ₹58.62 crore. There was no exceptional item in either quarter. Tax was ₹1.91 crore against ₹1.13 crore in Q2 FY26. The filing does not state reasons for the changes in these cost lines.
Sequentially, total expenses fell ₹14.08 crore or 2.3% from Q1 FY27, led by cost of materials consumed declining ₹28.48 crore or 5.5%. Employee benefit expenses rose ₹1.54 crore or 6.6%, other expenses rose ₹2.95 crore or 5.3%, and finance costs rose ₹0.22 crore or 4.5%. Other income fell ₹0.44 crore or 18.1%.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 490.96 | 686.58 | −195.62 | −28.5% |
| Employee cost | 24.73 | 23.72 | +1.01 | +4.3% |
| Finance costs | 5.08 | 6.90 | −1.82 | −26.4% |
| Depreciation | 11.68 | 10.05 | +1.63 | +16.2% |
| Other expenses | 58.62 | 46.20 | +12.42 | +26.9% |
| Total expenses | 600.42 | 778.20 | −177.78 | −22.8% |
| Other income | 1.99 | 1.83 | +0.16 | +8.7% |
| Tax | −1.91 | −1.13 | −0.78 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, standalone revenue was ₹1,230.37 crore, down ₹602.0 crore or 32.9% from ₹1,832.37 crore in H1 FY26. Total income was ₹1,234.79 crore, down ₹600.94 crore or 32.7%. Profit before tax fell ₹3.25 crore or 14.1% to ₹19.88 crore.
PAT nevertheless rose ₹5.62 crore or 27.2% to ₹26.27 crore from ₹20.65 crore in H1 FY26. Basic EPS increased ₹0.04 or 28.6% to ₹0.18 from ₹0.14. The reported first-half net profit therefore increased despite lower revenue and profit before tax.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,230 | 1,832 | −32.9% |
| Profit before tax | 19.88 | 23.13 | −14.1% |
| Net profit | 26.27 | 20.65 | +27.2% |
| EPS (₹) | 0.18 | 0.14 | +28.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹1,192.51 crore, compared with ₹1,031.61 crore at 31 March 2026. Total equity rose to ₹676.82 crore from ₹651.18 crore, while borrowings increased to ₹161.63 crore from ₹117.34 crore. Cash and cash equivalents were ₹2.51 crore against ₹3.54 crore.
Inventories were ₹143.09 crore compared with ₹142.85 crore, trade receivables increased to ₹543.15 crore from ₹376.65 crore, and trade payables rose to ₹249.2 crore from ₹174.24 crore. In H1 FY27, operating cash flow was negative ₹37.18 crore against positive ₹45.42 crore in H1 FY26.
Investing cash flow was negative ₹6.04 crore, compared with negative ₹0.44 crore in H1 FY26, while financing cash flow was positive ₹42.19 crore against negative ₹42.64 crore. Capital expenditure was ₹2.96 crore in H1 FY27 and ₹4.93 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,193 | 1,032 |
| Total equity | 676.82 | 651.18 |
| Borrowings | 161.63 | 117.34 |
| Cash and equivalents | 2.51 | 3.54 |
| Inventories | 143.09 | 142.85 |
| Trade receivables | 543.15 | 376.65 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −37.18 | 45.42 |
| Cash from investing | −6.04 | −0.44 |
| Cash from financing | 42.19 | −42.64 |
| Capital expenditure | 2.96 | 4.93 |
Source: Company's results filing (XBRL).
How has Nandan Denim done over the last 8 quarters?
Revenue peaked at ₹1,048.65 crore in Q4 FY25 and bottomed at ₹499.53 crore in Q3 FY26. It then rose to ₹622.39 crore in Q1 FY27 before easing to ₹607.98 crore in Q2 FY27. The latest reading remained below the recent peak but above the trough.
Net profit peaked at ₹14.8 crore in Q1 FY27 and bottomed at ₹2.97 crore in Q3 FY26, before easing to ₹11.47 crore in Q2 FY27. EBITDA margin bottomed at 2.4% in Q4 FY26, rose to 3.9% in Q1 FY27, and was 4.0% in Q2 FY27. Profit rose year on year in each of the last two quarters.
How did Nandan Denim shares react?
The results were released after market hours on 2 November 2026. From the price when the filing appeared, Nandan Denim’s shares fell 2.0% after five minutes, 1.2% after 15 minutes, and 1.2% after 30 minutes. On the reaction day, the stock closed 1.2% above its pre-results close of ₹2.53.
By the next day’s close, the stock was down 1.6% from its pre-results close. The Other Textile Products industry median was flat on the reaction day and up 1.5% by the next close, leaving Nandan Denim at a relative disadvantage of 3.0 percentage points on the next day. The earlier results-day moves were mixed, including a 7.0% rise on 28 October 2024 and a 5.2% fall on 28 January 2025.
| After the filing | Stock | Other Textile Products median |
|---|---|---|
| 5 minutes | −2.0% | |
| 15 minutes | −1.2% | |
| 30 minutes | −1.2% | |
| Reaction day | +1.2% | +0.0% |
| Next day | −1.6% | +1.5% |
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 | +1.7% |
| 28 May 2026 | −0.4% |
| 12 February 2026 | −1.6% |
| 13 November 2025 | −1.5% |
| 6 August 2025 | +0.9% |
| 23 May 2025 | −2.0% |
| 28 January 2025 | −5.2% |
| 28 October 2024 | +7.0% |
Source: MarketPing price-reaction measurement.
How did other Other Textile Products companies do?
Among 61 other Other Textile Products companies that had filed for the quarter, the median revenue growth was 24.1%. Six peers grew revenue more slowly than Nandan Denim, while 55 grew faster than the company. Of the 64 peers for which profit was compared, 43 reported higher profit.
| Nandan Denim revenue growth (YoY) | −22.5% |
|---|---|
| Median of 61 other Other Textile Products companies | +24.1% |
| Companies with slower revenue growth than Nandan Denim | 6 of 61 |
| Companies with faster revenue growth than Nandan Denim | 55 of 61 |
| Companies whose net profit rose | 43 of 64 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Nandan Denim's revenue in Q2 FY27?
Revenue from operations was ₹607.98 crore, down 22.5% from ₹784.69 crore in Q2 FY26 (standalone).
Did Nandan Denim make a profit in Q2 FY27?
Yes. Net profit was ₹11.47 crore, against a net profit of ₹9.45 crore in Q2 FY26.
What was Nandan Denim's EPS in Q2 FY27?
Basic earnings per share were ₹0.08, against ₹0.07 in Q2 FY26.
How did Nandan Denim shares react to the Q2 FY27 results?
On the reaction day the stock moved +1.2% from the previous close; the median Other Textile Products stock moved +0.0%.
When did Nandan Denim announce its Q2 FY27 results?
On 2 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Considering And Approving The Unaudited Financial Results Of The Company For The Quarter Ended September 30, 2026 (BSE, 21 October 2026) · PDF
- Outcome of Board Meeting (NSE, 2 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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