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- Q2 FY27 results
Natraj Proteins Q2 FY27 results: net profit ₹2.45 crore vs ₹1.65 crore loss, revenue up 84.3%
Natraj Proteins Ltd reported standalone revenue of ₹49.62 crore and a net profit of ₹2.45 crore for Q2 FY27. Revenue rose 84.3% from Q2 FY26 and 57.9% from Q1 FY27, while basic EPS was ₹6.54 and the EBITDA margin was 7.9%.
Key points
- Revenue was ₹49.62 crore in Q2 FY27, up 84.3% from ₹26.92 crore in Q2 FY26 and 57.9% from ₹31.42 crore in Q1 FY27.
- EBITDA was ₹3.90 crore, compared with a net loss of ₹1.02 crore in Q2 FY26 and EBITDA of ₹2.81 crore in Q1 FY27.
- The EBITDA margin was 7.9%, compared with -3.8% in Q2 FY26 and 8.9% in Q1 FY27.
- Net profit was ₹2.45 crore, against a net loss of ₹1.65 crore in Q2 FY26 and net profit of ₹2.11 crore in Q1 FY27.
- Basic EPS was ₹6.54, compared with a loss of ₹4.41 per share in Q2 FY26 and EPS of ₹5.62 in Q1 FY27.
How did Natraj Proteins perform in Q2 FY27?
Natraj Proteins reported standalone revenue of ₹49.62 crore for Q2 FY27, up 84.3% from ₹26.92 crore in Q2 FY26 and 57.9% from ₹31.42 crore in Q1 FY27. EBITDA was ₹3.90 crore, versus a net loss of ₹1.02 crore a year earlier and ₹2.81 crore in the previous quarter.
The EBITDA margin was 7.9% in Q2 FY27, an improvement of 11.7 percentage points from -3.8% in Q2 FY26, but down 1.0 percentage point from 8.9% in Q1 FY27. Profit before tax was ₹2.46 crore, while net profit was ₹2.45 crore and basic EPS was ₹6.54.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 49.62 | 31.42 | 26.92 | +84.3% | +57.9% |
| Other income | 0.08 | 0.05 | 0.05 | +60.0% | +60.0% |
| Total expenses | 47.25 | 29.36 | 28.61 | +65.2% | +60.9% |
| EBITDA | 3.90 | 2.81 | −1.02 | turned to profit | +38.8% |
| EBITDA margin | 7.9% | 8.9% | -3.8% | +11.7 pp | −1.0 pp |
| Profit before tax | 2.46 | 2.11 | −1.64 | turned to profit | +16.6% |
| Tax | 0.01 | 0.01 | 0.01 | +0.0% | +0.0% |
| Net profit | 2.45 | 2.11 | −1.65 | turned to profit | +16.1% |
| EPS (₹) | 6.54 | 5.62 | −4.41 | turned to profit | +16.4% |
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 Natraj Proteins' costs and profit?
Total expenses rose ₹18.64 crore from Q2 FY26 to ₹47.25 crore. Cost of materials increased ₹9.33 crore to ₹32.77 crore, employee cost rose ₹0.28 crore to ₹0.59 crore, finance costs rose ₹0.72 crore to ₹1.30 crore and depreciation rose ₹0.14 crore to ₹0.23 crore.
Other expenses increased ₹0.48 crore from the year-ago quarter to ₹1.39 crore, while other income rose ₹0.03 crore to ₹0.08 crore. There was no exceptional item, and tax was unchanged at ₹0.01 crore.
Compared with Q2 FY26, EBITDA moved by ₹4.92 crore to ₹3.90 crore and profit before tax moved by ₹4.10 crore to ₹2.46 crore. Net profit also moved by ₹4.10 crore, from a net loss of ₹1.65 crore to ₹2.45 crore. The filing did not state a reason for the changes.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 32.77 | 23.44 | +9.33 | +39.8% |
| Employee cost | 0.59 | 0.31 | +0.28 | +90.3% |
| Finance costs | 1.30 | 0.58 | +0.72 | +124.1% |
| Depreciation | 0.23 | 0.09 | +0.14 | +155.6% |
| Other expenses | 1.39 | 0.91 | +0.48 | +52.7% |
| Total expenses | 47.25 | 28.61 | +18.64 | +65.2% |
| Other income | 0.08 | 0.05 | +0.03 | +60.0% |
| Tax | 0.01 | 0.01 | 0 | +0.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹74.81 crore, compared with ₹76.03 crore at 31 March 2026. Total equity rose to ₹35.81 crore from ₹33.34 crore, while borrowings increased to ₹36.38 crore from ₹36.09 crore.
Cash and cash equivalents were ₹8.80 crore, up from ₹0.22 crore at the previous balance sheet date. Inventories fell to ₹42.55 crore from ₹52.19 crore, trade receivables rose to ₹8.02 crore from ₹7.51 crore and trade payables fell to ₹1.03 crore from ₹4.34 crore.
For H1 FY27, operating cash flow was ₹9.63 crore, compared with ₹1.59 crore in H1 FY26. Investing cash flow was -₹0.05 crore against ₹1.54 crore, while financing cash flow was -₹1.01 crore against -₹0.15 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 74.81 | 76.03 |
| Total equity | 35.81 | 33.34 |
| Borrowings | 36.38 | 36.09 |
| Cash and equivalents | 8.80 | 0.22 |
| Inventories | 42.55 | 52.19 |
| Trade receivables | 8.02 | 7.51 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 9.63 | 1.59 |
| Cash from investing | −0.05 | 1.54 |
| Cash from financing | −1.01 | −0.15 |
| Capital expenditure | 0 | 0.19 |
Source: Company's results filing (XBRL).
How has Natraj Proteins done over the last 8 quarters?
Revenue reached its highest level in the series at ₹49.62 crore in Q2 FY27, after ₹18.87 crore in Q4 FY26, and rose in each of the last two quarters year on year. Profit followed a less consistent path: it was a net loss of ₹1.65 crore in Q2 FY26, before reaching ₹2.89 crore in Q3 FY26.
The EBITDA margin peaked at 12.3% in Q3 FY26 and bottomed at -3.8% in Q2 FY26. It was 7.9% in Q2 FY27, below the 8.9% recorded in Q1 FY27.
How did Natraj Proteins shares react?
The filing appeared after market hours on 29 October 2026. The stock was unchanged after five minutes, fell 2.4% after 15 minutes and fell 11.0% after 30 minutes. On the reaction day, it closed 12.1% below the previous close.
By the next day's close, the stock was down 4.2% from its pre-results close. The Edible Oil industry's median move was -0.3% on the reaction day and -0.2% by the next day's close, leaving Natraj Proteins behind the sector by 11.8 percentage points and 4.0 percentage points, respectively.
| After the filing | Stock | Edible Oil median |
|---|---|---|
| 5 minutes | +0.0% | |
| 15 minutes | −2.4% | |
| 30 minutes | −11.0% | |
| Reaction day | −12.1% | −0.3% |
| Next day | −4.2% | −0.2% |
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 |
|---|---|
| 13 August 2026 | +7.8% |
| 22 May 2026 | −2.9% |
| 13 February 2026 | +2.9% |
| 13 November 2025 | −0.3% |
| 13 August 2025 | +1.9% |
| 21 May 2025 | +2.1% |
| 13 August 2024 | −9.2% |
Source: MarketPing price-reaction measurement.
How did other Edible Oil companies do?
Eight other Edible Oil companies that had filed for the quarter were compared with Natraj Proteins. Their median revenue growth was 18.2%; six grew more slowly than Natraj Proteins and two grew faster than Natraj Proteins.
Of the seven peers for which profit was compared, five reported higher profit. Natraj Proteins recorded standalone revenue growth of 84.3% in Q2 FY27.
| Natraj Proteins revenue growth (YoY) | +84.3% |
|---|---|
| Median of 8 other Edible Oil companies | +18.2% |
| Companies with slower revenue growth than Natraj Proteins | 6 of 8 |
| Companies with faster revenue growth than Natraj Proteins | 2 of 8 |
| Companies whose net profit rose | 5 of 7 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Natraj Proteins' revenue in Q2 FY27?
Revenue from operations was ₹49.62 crore, up 84.3% from ₹26.92 crore in Q2 FY26 (standalone).
Did Natraj Proteins make a profit in Q2 FY27?
Yes. Net profit was ₹2.45 crore, against a net loss of ₹1.65 crore in Q2 FY26.
What was Natraj Proteins' EPS in Q2 FY27?
Basic earnings per share were ₹6.54, against a loss of ₹4.41 in Q2 FY26.
How did Natraj Proteins shares react to the Q2 FY27 results?
On the reaction day the stock moved −12.1% from the previous close; the median Edible Oil stock moved −0.3%.
When did Natraj Proteins announce its Q2 FY27 results?
On 29 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of The Un-Audited Financial Results For The Quater And Half Year Ended 30Th September,2026. (BSE, 26 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting (BSE, 29 October 2026) · PDF
- Results For Half-Year Ended On 30Th September,2026 (BSE, 29 October 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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