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Saffron Industries Q2 FY27 results: net profit down 25.0% to ₹0.18 crore, revenue up 139.5%
Saffron Industries Ltd reported standalone Q2 FY27 revenue of ₹1.94 crore, up from ₹1.06 crore in Q1 FY27 but higher than ₹0.81 crore a year earlier. EBITDA was ₹0.17 crore at an 8.7% margin, while net profit was ₹0.18 crore and basic EPS was ₹0.25.
Key points
- Revenue was ₹1.94 crore, up ₹1.13 crore or 139.5% from Q2 FY26 and ₹0.88 crore or 83.0% from Q1 FY27.
- EBITDA was ₹0.17 crore, down ₹0.37 crore or 68.5% from Q2 FY26 but up ₹0.06 crore or 54.5% from Q1 FY27.
- Net profit was ₹0.18 crore, down ₹0.06 crore or 25.0% from Q2 FY26 and up ₹0.06 crore or 50.0% from Q1 FY27.
- Basic EPS was ₹0.25, down from ₹0.33 in Q2 FY26 and up from ₹0.17 in Q1 FY27.
- The company’s total assets were ₹11.46 crore and cash was ₹0.58 crore as of 30 September 2026, while borrowings were ₹0.00 crore.
How did Saffron Industries perform in Q2 FY27?
Saffron Industries reported standalone revenue of ₹1.94 crore in Q2 FY27, compared with ₹0.81 crore in Q2 FY26 and ₹1.06 crore in Q1 FY27. EBITDA was ₹0.17 crore, against ₹0.54 crore a year earlier and ₹0.11 crore in the previous quarter. The EBITDA margin was 8.7%, compared with 66.9% in Q2 FY26 and 10.7% in Q1 FY27.
Profit before tax and net profit were each ₹0.18 crore in Q2 FY27, compared with ₹0.24 crore in Q2 FY26 and ₹0.12 crore in Q1 FY27. Basic EPS was ₹0.25, compared with ₹0.33 in Q2 FY26 and ₹0.17 in Q1 FY27. The reported figures are standalone; the filing did not give consolidated figures.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1.94 | 1.06 | 0.81 | +139.5% | +83.0% |
| Other income | 0.01 | 0.01 | 0 | +0.0% | |
| Total expenses | 1.77 | 0.95 | 0.57 | +210.5% | +86.3% |
| EBITDA | 0.17 | 0.11 | 0.54 | −68.5% | +54.5% |
| EBITDA margin | 8.7% | 10.7% | 66.9% | −58.2 pp | −2.0 pp |
| Profit before tax | 0.18 | 0.12 | 0.24 | −25.0% | +50.0% |
| Tax | 0 | 0 | 0 | ||
| Net profit | 0.18 | 0.12 | 0.24 | −25.0% | +50.0% |
| EPS (₹) | 0.25 | 0.17 | 0.33 | −24.2% | +47.1% |
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 Saffron Industries' costs and profit?
Total expenses were ₹1.77 crore in Q2 FY27, up ₹1.20 crore or 210.5% from ₹0.57 crore in Q2 FY26. Employee cost rose ₹0.13 crore or 56.5% to ₹0.36 crore, while other expenses rose ₹0.92 crore or 124.3% to ₹1.66 crore. Depreciation fell ₹0.30 crore to ₹0.00 crore, while cost of materials and finance costs were unchanged at ₹0 crore.
Other income was ₹0.01 crore in Q2 FY27, compared with ₹0 crore in Q2 FY26, and remained unchanged from Q1 FY27. There was no exceptional item, and tax was unchanged at ₹0 crore. The filing did not state a reason for the increase in other expenses or employee cost.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.36 | 0.23 | +0.13 | +56.5% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0 | 0.30 | −0.30 | |
| Other expenses | 1.66 | 0.74 | +0.92 | +124.3% |
| Total expenses | 1.77 | 0.57 | +1.20 | +210.5% |
| Other income | 0.01 | 0 | +0.01 | |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹11.46 crore, compared with ₹11.97 crore at 31 March 2026. Total equity was negative ₹8.01 crore against negative ₹8.19 crore previously, while borrowings fell to ₹0.00 crore from ₹1.96 crore. Cash was ₹0.58 crore, compared with ₹0.57 crore. Inventories rose to ₹7.32 crore from ₹7.05 crore, trade receivables fell to ₹1.22 crore from ₹1.74 crore, and trade payables rose to ₹6.00 crore from ₹5.94 crore.
H1 FY27 operating cash flow was ₹1.85 crore, compared with ₹9.11 crore in H1 FY26. Investing cash flow was ₹0.01 crore against ₹0.51 crore, financing cash flow was negative ₹1.96 crore against negative ₹9.29 crore, and capital expenditure was ₹0 crore in both periods.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 11.46 | 11.97 |
| Total equity | −8.01 | −8.19 |
| Borrowings | 0 | 1.96 |
| Cash and equivalents | 0.58 | 0.57 |
| Inventories | 7.32 | 7.05 |
| Trade receivables | 1.22 | 1.74 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 1.85 | 9.11 |
| Cash from investing | 0.01 | 0.51 |
| Cash from financing | −1.96 | −9.29 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Saffron Industries done over the last 8 quarters?
Revenue reached ₹3.38 crore in Q4 FY25 and fell to ₹0.81 crore in Q2 FY26 before recovering to ₹1.94 crore in Q2 FY27. Profit after tax peaked at ₹2.91 crore in Q4 FY25 and was ₹0.18 crore in the latest quarter. The EBITDA margin peaked at 117.9% in Q4 FY25, while the latest margin was 8.7%.
The latest quarter showed higher revenue and profit than Q1 FY27, but the EBITDA margin fell from 10.7% to 8.7%. Revenue and profit also remained below their Q4 FY25 peaks. No quarter streak was provided.
Which businesses drove the quarter?
Real Estate Development reported revenue of ₹1.94 crore in Q2 FY27, against ₹0.81 crore in Q2 FY26, with growth of 138.8%. Segment EBIT was ₹0.17 crore, against ₹0.54 crore in the year-ago quarter, and the reported EBIT margin was 8.7%.
Paper Manufacturing reported revenue of ₹0.01 crore and EBIT of ₹0.01 crore in Q2 FY27, against ₹0.00 crore of revenue and negative ₹0.30 crore of EBIT in Q2 FY26. The filing did not provide a revenue growth rate for the segment.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Paper Manufacturing | 0.01 | 0.01 | 100.0% | |
| Real Estate Development | 1.94 | +138.8% | 0.17 | 8.7% |
Source: Company's results filing (XBRL segment data).
How did Saffron Industries shares react?
The filing was released after market hours, and no five-minute, 15-minute or 30-minute price moves were available. The stock fell 4.6% on the reaction day from its pre-results close of ₹21.75. By the next day's close, it was down 6.9% from that pre-results close.
| After the filing | Stock | Paper & Paper Products median |
|---|---|---|
| Reaction day | −4.6% | +1.4% |
| Next day | −6.9% | +1.8% |
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 |
|---|---|
| 3 July 2026 | +10.3% |
| 26 May 2026 | +4.6% |
| 11 February 2026 | +5.0% |
| 8 November 2025 | −5.0% |
| 25 July 2025 | +2.0% |
| 30 May 2025 | +5.0% |
| 3 July 2024 | +4.8% |
| 28 May 2024 | +0.0% |
Source: MarketPing price-reaction measurement.
How did other Paper & Paper Products companies do?
Among 14 Paper & Paper Products companies compared, the median revenue growth was 13.7%. Thirteen peers grew revenue more slowly than Saffron Industries, while one peer grew faster; 14 peers reported higher profit. The peer comparison was as of 6 November 2026.
| Saffron Industries revenue growth (YoY) | +139.5% |
|---|---|
| Median of 14 other Paper & Paper Products companies | +13.7% |
| Companies with slower revenue growth than Saffron Industries | 13 of 14 |
| Companies with faster revenue growth than Saffron Industries | 1 of 14 |
| Companies whose net profit rose | 14 of 16 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Saffron Industries' revenue in Q2 FY27?
Revenue from operations was ₹1.94 crore, up 139.5% from ₹0.81 crore in Q2 FY26 (standalone).
Did Saffron Industries make a profit in Q2 FY27?
Yes. Net profit was ₹0.18 crore, against a net profit of ₹0.24 crore in Q2 FY26.
What was Saffron Industries' EPS in Q2 FY27?
Basic earnings per share were ₹0.25, against ₹0.33 in Q2 FY26.
How did Saffron Industries shares react to the Q2 FY27 results?
On the reaction day the stock moved −4.6% from the previous close; the median Paper & Paper Products stock moved +1.4%.
When did Saffron Industries announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of The Meeting Of The Board Of Directors For Consideration Of Unaudited Financial Results For The Quarter & Half Year Ended On 30Th September 2026. (BSE, 27 October 2026) · PDF
- Board Meeting Outcome for Submission Of Un-Audited Financial Results For The Quarter And Half Year Ended On 30Th September, 2026 (BSE, 3 November 2026) · PDF
- Submission Of Unaudited Financial Results For The Quarter And Half Year Ended On 30Th September, 2026 (BSE, 3 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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