NK Industries Q2 FY27 results: net loss narrows to ₹0.51 crore, revenue down 38.1%

How did NK Industries perform in Q2 FY27?

On a consolidated basis, NK Industries reported Q2 FY27 revenue of ₹2.13 crore, against ₹3.44 crore in Q2 FY26 and ₹2.11 crore in Q1 FY27. Total income was ₹2.38 crore, compared with ₹3.57 crore a year earlier and ₹2.27 crore in the previous quarter. The company also reported unaudited standalone revenue of ₹0.60 crore for the quarter and ₹1.46 crore for the first half. Consolidated EBITDA was an ₹0.17 crore loss in Q2 FY27, compared with an ₹1.43 crore loss in Q2 FY26 and an ₹0.27 crore loss in Q1 FY27. The EBITDA margin was -8.1%, against -41.7% and -13.0%, respectively. The net loss was ₹0.51 crore, compared with ₹2.03 crore in Q2 FY26 and ₹0.65 crore in Q1 FY27; basic EPS was -₹0.85, against -₹3.37 and -₹1.09.

What changed in NK Industries' costs and profit?

The main change in profit was a reduction in operating costs. Total expenses fell to ₹2.89 crore in Q2 FY27 from ₹5.54 crore in Q2 FY26, a decrease of ₹2.65 crore, or 47.8%. Other expenses declined by ₹2.03 crore, or 50.5%, to ₹1.99 crore, while employee cost fell by ₹0.53 crore, or 62.4%, to ₹0.32 crore. Depreciation was ₹0.59 crore, down ₹0.04 crore, or 6.3%, and finance costs were unchanged at ₹0 crore. Other income increased by ₹0.11 crore, or 78.6%, to ₹0.25 crore, while tax expense fell by ₹0.06 crore to ₹0 crore. There was no exceptional item in Q2 FY27. Against Q1 FY27, total expenses were lower by ₹0.08 crore, or 2.7%, as other expenses fell by ₹0.02 crore and employee cost fell by ₹0.05 crore; other income was higher by ₹0.09 crore, or 56.2%. The filing does not state the reasons for these changes.

How did the first half of FY27 go?

For the first half of FY27, consolidated revenue was ₹4.24 crore, down ₹2.98 crore or 41.3% from ₹7.22 crore in H1 FY26. Total income was ₹4.65 crore, down ₹2.85 crore or 38.0% from ₹7.50 crore. Loss before tax narrowed from ₹2.83 crore to ₹1.21 crore, while the net loss narrowed from ₹2.72 crore to ₹1.17 crore. Basic EPS was -₹1.94, compared with -₹4.53 in H1 FY26. The half-year figures are consolidated; the standalone filing reported revenue of ₹1.46 crore and a net loss of ₹1.19 crore for H1 FY27.

What do the balance sheet and cash flow show?

At 30 September 2026, consolidated total assets were ₹1,892.17 crore, against ₹1,890.62 crore at 31 March 2026. Total equity remained negative at ₹352.79 crore, compared with ₹351.63 crore at the previous balance-sheet date. There were no borrowings at either date. Cash was ₹0.78 crore, down from ₹0.81 crore, while inventories fell from ₹1.95 crore to ₹1.77 crore. Trade receivables were ₹23.70 crore, against ₹23.65 crore, and trade payables were ₹0.23 crore, against ₹0 crore. H1 FY27 operating cash flow was ₹2.70 crore, compared with an outflow of ₹1.11 crore in H1 FY26. Investing cash flow was an outflow of ₹2.70 crore, compared with an inflow of ₹1.55 crore, while financing cash flow was an outflow of ₹0.04 crore in both periods. Capital expenditure was ₹0 crore in H1 FY27 and ₹0.02 crore in H1 FY26.

How has NK Industries done over the last 8 quarters?

Revenue reached its highest level in the series at ₹4.28 crore in Q4 FY25 and its lowest at ₹2.11 crore in Q1 FY27; Q2 FY27 revenue was ₹2.13 crore. The net loss was greatest in Q4 FY25 at ₹2.66 crore and smallest in Q4 FY26 at ₹0.09 crore; the latest quarterly net loss was ₹0.51 crore. The EBITDA margin peaked at 13.4% in Q4 FY26 and bottomed at -55.5% in Q4 FY25, before improving to -8.1% in Q2 FY27. Revenue edged higher from Q1 FY27, while the net loss narrowed and the margin improved from -13.0%.

What did the auditors point out?

The auditors issued a qualified opinion and included an emphasis of matter. The qualification stated that trade payables and trade receivables from transactions through National Spot Exchange Limited remained subject to confirmation, reconciliation and adjustment, while NSEL had suspended trading on 31 July 2013. The auditors also said that, because criminal proceedings were pending and the final liability could not be ascertained or quantified, they were unable to quantify its impact on the loss for the quarter and half year ended 30 September 2026. In the emphasis of matter, the auditors reported accumulated losses of Rs 35,611.60 lakhs as at 30 September 2026 and said the company’s net worth was negative. They noted that the accounts were prepared on a going-concern basis because they had accepted the business plan and future cash-flow projections submitted by management, under which management was making sincere efforts to revive the business and was confident of recovering losses through improved profitability. The auditors also stated that, except for the matters described in the qualified opinion, nothing had come to their attention that caused them to believe the statement had not disclosed the required information.

How did NK Industries shares react?

How did other Edible Oil companies do?

Eight other Edible Oil companies had filed for the quarter by 4 November 2026. Their median revenue growth was 25.0%. All 8 peers grew revenue faster than NK Industries, while 0 peers grew slower than the company. Of the 7 peers for which profit was compared, 5 reported higher profit. These peer figures refer to the other Edible Oil companies and exclude NK Industries.