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Patel Retail Q2 FY27 results: net profit down 2.3% to ₹9.91 crore, revenue up 34.2%
Patel Retail Limited reported standalone revenue of ₹298.60 crore in Q2 FY27, up 34.2% from Q2 FY26, while EBITDA rose 10.0% to ₹18.21 crore. The EBITDA margin fell 1.3 percentage points to 6.1%, and profit after tax declined 2.3% to ₹9.91 crore; EPS was ₹2.97.
Key points
- Standalone revenue was ₹298.60 crore in Q2 FY27, up 34.2% from ₹222.44 crore in Q2 FY26.
- EBITDA rose to ₹18.21 crore from ₹16.56 crore, while the EBITDA margin declined to 6.1% from 7.4%.
- Profit after tax was ₹9.91 crore, down 2.3% from ₹10.14 crore, and basic EPS was ₹2.97.
- Total expenses increased 35.8% year on year to ₹287.74 crore, including cost of materials of ₹98.27 crore.
- For H1 FY27, revenue rose 50.2% to ₹608.14 crore, while PAT increased 13.9% to ₹19.43 crore.
How did Patel Retail perform in Q2 FY27?
Patel Retail reported standalone revenue of ₹298.60 crore in Q2 FY27, up ₹76.16 crore or 34.2% from Q2 FY26. EBITDA was ₹18.21 crore, up ₹1.65 crore or 10.0%, but the EBITDA margin fell 1.3 percentage points to 6.1%. Profit before tax fell 2.3% to ₹13.21 crore, and PAT declined 2.3% to ₹9.91 crore.
Against Q1 FY27, revenue fell ₹10.94 crore or 3.5% to ₹298.60 crore. EBITDA decreased 4.1% to ₹18.21 crore, while PBT rose 3.0% to ₹13.21 crore and PAT increased 4.1% to ₹9.91 crore. The EBITDA margin was unchanged at 6.1%, and basic EPS rose 4.2% to ₹2.97.
The results are unaudited standalone figures for the quarter ended 30 September 2026. The Board approved them on 4 November 2026, and the statutory auditor’s review report stated that nothing came to its attention indicating a material misstatement.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 298.60 | 309.54 | 222.44 | +34.2% | −3.5% |
| Other income | 2.35 | 0.70 | 2.99 | −21.4% | +235.7% |
| Total expenses | 287.74 | 297.42 | 211.91 | +35.8% | −3.3% |
| EBITDA | 18.21 | 18.98 | 16.56 | +10.0% | −4.1% |
| EBITDA margin | 6.1% | 6.1% | 7.4% | −1.3 pp | +0.0 pp |
| Profit before tax | 13.21 | 12.82 | 13.52 | −2.3% | +3.0% |
| Tax | 3.30 | 3.30 | 3.38 | −2.4% | +0.0% |
| Net profit | 9.91 | 9.52 | 10.14 | −2.3% | +4.1% |
| EPS (₹) | 2.97 | 2.85 | 3.59 | −17.3% | +4.2% |
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 Patel Retail's costs and profit?
Total expenses rose ₹75.83 crore or 35.8% year on year to ₹287.74 crore. Cost of materials increased ₹17.39 crore or 21.5% to ₹98.27 crore, employee cost rose ₹3.48 crore or 37.9% to ₹12.67 crore, and depreciation increased ₹1.71 crore or 54.5% to ₹4.85 crore. Other expenses were up ₹1.29 crore or 7.1% at ₹19.41 crore.
Other income fell ₹0.64 crore or 21.4% to ₹2.35 crore, while finance costs declined ₹0.39 crore or 13.5% to ₹2.50 crore. Tax expense was ₹3.30 crore, down ₹0.08 crore or 2.4%, and there was no exceptional item. The filing does not state reasons for the year-on-year movement in these cost lines.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 98.27 | 80.88 | +17.39 | +21.5% |
| Employee cost | 12.67 | 9.19 | +3.48 | +37.9% |
| Finance costs | 2.50 | 2.89 | −0.39 | −13.5% |
| Depreciation | 4.85 | 3.14 | +1.71 | +54.5% |
| Other expenses | 19.41 | 18.12 | +1.29 | +7.1% |
| Total expenses | 287.74 | 211.91 | +75.83 | +35.8% |
| Other income | 2.35 | 2.99 | −0.64 | −21.4% |
| Tax | 3.30 | 3.38 | −0.08 | −2.4% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Patel Retail reported standalone revenue of ₹608.14 crore, up ₹203.24 crore or 50.2% from ₹404.90 crore in H1 FY26. Total income increased 49.6% to ₹611.19 crore, PBT rose 14.2% to ₹26.03 crore, and PAT increased 13.9% to ₹19.43 crore.
Basic EPS for H1 FY27 was ₹5.82, down 9.3% from ₹6.42 in H1 FY26. The results covered the half year ended 30 September 2026 and were unaudited standalone figures.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 608.14 | 404.90 | +50.2% |
| Profit before tax | 26.03 | 22.79 | +14.2% |
| Net profit | 19.43 | 17.06 | +13.9% |
| EPS (₹) | 5.82 | 6.42 | −9.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹611.54 crore, compared with ₹620.10 crore at 31 March 2026. Total equity rose to ₹383.19 crore from ₹363.89 crore, while borrowings fell to ₹102.26 crore from ₹123.25 crore. Cash declined to ₹3.84 crore from ₹4.72 crore.
Inventories increased to ₹282.19 crore from ₹259.60 crore, trade receivables fell to ₹133.21 crore from ₹161.95 crore, and trade payables were ₹83.93 crore compared with ₹88.78 crore. In H1 FY27, operating cash flow was ₹31.01 crore, against an outflow of ₹86.07 crore in H1 FY26; investing cash flow was an outflow of ₹0.28 crore and financing cash flow was an outflow of ₹31.62 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 611.54 | 620.10 |
| Total equity | 383.19 | 363.89 |
| Borrowings | 102.26 | 123.25 |
| Cash and equivalents | 3.84 | 4.72 |
| Inventories | 282.19 | 259.60 |
| Trade receivables | 133.21 | 161.95 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 31.01 | −86.07 |
| Cash from investing | −0.28 | −5.20 |
| Cash from financing | −31.62 | 150.16 |
| Capital expenditure | 0 | 5.69 |
Source: Company's results filing (XBRL).
How has Patel Retail done over the last 6 quarters?
Revenue rose year on year in each of the last two quarters. It reached ₹334.16 crore in Q4 FY26, then declined to ₹309.54 crore in Q1 FY27 and ₹298.60 crore in Q2 FY27, the lowest of the six-quarter period shown.
PAT reached ₹12.00 crore in Q3 FY26 and was ₹9.91 crore in Q2 FY27. The EBITDA margin peaked at 8.3% in Q1 FY26, fell to 5.2% in Q4 FY26, and stood at 6.1% in Q2 FY27, unchanged from Q1 FY27.
How did Patel Retail shares react?
The filing appeared after market hours. The stock was down 1.2% after five minutes, down 0.1% after 15 minutes and down 0.6% after 30 minutes. On the reaction day, it fell 0.6% from the previous close of ₹245.40, against a 0.6% rise for the Diversified Retail industry median, leaving it 1.1 percentage points behind the sector.
Earlier reaction-day moves were negative: the stock fell 2.9% on 12 August 2026, 3.6% on 25 May 2026, 0.7% on 2 February 2026 and 3.4% on 15 September 2025. Data for the next day and five days after this filing was not provided.
| After the filing | Stock | Diversified Retail median |
|---|---|---|
| 5 minutes | −1.2% | |
| 15 minutes | −0.1% | |
| 30 minutes | −0.6% | |
| Reaction day | −0.6% | +0.6% |
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 | −2.9% |
| 25 May 2026 | −3.6% |
| 2 February 2026 | −0.7% |
| 15 September 2025 | −3.4% |
Source: MarketPing price-reaction measurement.
How did other Diversified Retail companies do?
Eight Diversified Retail companies were compared for this quarter. Their median revenue growth was 11.3%, and all eight grew more slowly than Patel Retail; none grew faster. Of the seven peers with comparable profit data, four reported higher profit.
| Patel Retail revenue growth (YoY) | +34.2% |
|---|---|
| Median of 8 other Diversified Retail companies | +11.3% |
| Companies with slower revenue growth than Patel Retail | 8 of 8 |
| Companies with faster revenue growth than Patel Retail | 0 of 8 |
| Companies whose net profit rose | 4 of 7 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Patel Retail's revenue in Q2 FY27?
Revenue from operations was ₹298.60 crore, up 34.2% from ₹222.44 crore in Q2 FY26 (standalone).
Did Patel Retail make a profit in Q2 FY27?
Yes. Net profit was ₹9.91 crore, against a net profit of ₹10.14 crore in Q2 FY26.
What was Patel Retail's EPS in Q2 FY27?
Basic earnings per share were ₹2.97, against ₹3.59 in Q2 FY26.
How did Patel Retail shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.6% from the previous close; the median Diversified Retail stock moved +0.6%.
When did Patel Retail announce its Q2 FY27 results?
On 4 November 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 4 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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