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Surat Trade and Mercantile Q2 FY27 results: net profit ₹1.81 crore vs ₹0.27 crore
Surat Trade and Mercantile Limited reported standalone revenue of ₹51.67 crore for Q2 FY27, up 210.0% from Q2 FY26, while net profit rose to ₹1.81 crore from ₹0.27 crore. EBITDA was a loss of ₹1.33 crore, with a margin of -2.6%, and basic EPS was ₹0.08. These are standalone results; the filing also reports figures for the first half and includes no consolidated results.
Key points
- Revenue was ₹51.67 crore in Q2 FY27, up 210.0% from ₹16.67 crore in Q2 FY26.
- Net profit was ₹1.81 crore in Q2 FY27, compared with ₹0.27 crore in Q2 FY26.
- EBITDA was a loss of ₹1.33 crore in Q2 FY27, with a margin of -2.6%; Q1 FY27 EBITDA was ₹3.31 crore at a 6.7% margin.
- H1 FY27 revenue was ₹101.01 crore, up 87.2% from ₹53.96 crore in H1 FY26; H1 FY27 net profit was ₹11.48 crore, up 28.8% from ₹8.91 crore.
- The stock was up 5.9% on the reaction day, while the industry median was up 0.7%.
How did Surat Trade and Mercantile perform in Q2 FY27?
Surat Trade and Mercantile reported standalone revenue of ₹51.67 crore for Q2 FY27, compared with ₹16.67 crore in Q2 FY26 and ₹49.35 crore in Q1 FY27. The year-on-year increase was 210.0%, while revenue rose 4.7% from the previous quarter. Total income was ₹56.02 crore, against ₹19.40 crore a year earlier and ₹57.50 crore in Q1 FY27.
EBITDA was a loss of ₹1.33 crore in Q2 FY27, compared with a loss of ₹1.65 crore in Q2 FY26 and EBITDA of ₹3.31 crore in Q1 FY27. The EBITDA margin was -2.6%, compared with -9.9% a year earlier and 6.7% in the previous quarter, a sequential change of -9.3 percentage points.
Profit before tax was ₹2.79 crore, against ₹0.91 crore in Q2 FY26 and ₹11.24 crore in Q1 FY27. Net profit was ₹1.81 crore, compared with ₹0.27 crore a year earlier and ₹9.67 crore in the previous quarter. Basic EPS was ₹0.08, compared with ₹0.01 in Q2 FY26 and ₹0.44 in Q1 FY27.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 51.67 | 49.35 | 16.67 | +210.0% | +4.7% |
| Other income | 4.35 | 8.16 | 2.73 | +59.3% | −46.7% |
| Total expenses | 53.22 | 46.26 | 18.49 | +187.8% | +15.0% |
| EBITDA | −1.33 | 3.31 | −1.65 | turned to loss | |
| EBITDA margin | -2.6% | 6.7% | -9.9% | +7.3 pp | −9.3 pp |
| Profit before tax | 2.79 | 11.24 | 0.91 | +206.6% | −75.2% |
| Tax | 0.98 | 1.57 | 0.64 | +53.1% | −37.6% |
| Net profit | 1.81 | 9.67 | 0.27 | +570.4% | −81.3% |
| EPS (₹) | 0.08 | 0.44 | 0.01 | +700.0% | −81.8% |
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 Surat Trade and Mercantile's costs and profit?
Total expenses were ₹53.22 crore in Q2 FY27, up ₹34.73 crore from ₹18.49 crore in Q2 FY26. Employee cost increased by ₹0.08 crore to ₹0.66 crore, finance costs were unchanged at ₹0.04 crore, and depreciation rose by ₹0.06 crore to ₹0.19 crore. Other expenses fell by ₹0.02 crore to ₹1.18 crore, while the cost of materials remained unchanged.
Other income increased by ₹1.62 crore to ₹4.35 crore from ₹2.73 crore in Q2 FY26. There was no exceptional item in either quarter. Tax expense increased by ₹0.34 crore to ₹0.98 crore from ₹0.64 crore, while profit before tax rose by ₹1.88 crore to ₹2.79 crore and net profit rose by ₹1.54 crore to ₹1.81 crore.
Against Q1 FY27, other income fell by ₹3.81 crore to ₹4.35 crore and total expenses rose by ₹6.96 crore to ₹53.22 crore. Employee cost rose by ₹0.06 crore to ₹0.66 crore, finance costs and depreciation were unchanged, and other expenses fell by ₹0.07 crore to ₹1.18 crore. Tax expense fell by ₹0.59 crore to ₹0.98 crore, while PBT fell by ₹8.45 crore to ₹2.79 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.66 | 0.58 | +0.08 | +13.8% |
| Finance costs | 0.04 | 0.04 | 0 | +0.0% |
| Depreciation | 0.19 | 0.13 | +0.06 | +46.2% |
| Other expenses | 1.18 | 1.20 | −0.02 | −1.7% |
| Total expenses | 53.22 | 18.49 | +34.73 | +187.8% |
| Other income | 4.35 | 2.73 | +1.62 | +59.3% |
| Tax | 0.98 | 0.64 | +0.34 | +53.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, standalone revenue was ₹101.01 crore, compared with ₹53.96 crore in H1 FY26, an increase of 87.2%. Total income was ₹113.52 crore, up 75.9% from ₹64.54 crore, while PBT rose 27.9% to ₹14.04 crore from ₹10.98 crore.
H1 FY27 net profit was ₹11.48 crore, up 28.8% from ₹8.91 crore in H1 FY26. Basic EPS was ₹0.52, compared with ₹0.40. The filing reported no exceptional item for the first half of FY27.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 101.01 | 53.96 | +87.2% |
| Profit before tax | 14.04 | 10.98 | +27.9% |
| Net profit | 11.48 | 8.91 | +28.8% |
| EPS (₹) | 0.52 | 0.40 | +30.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As on 30 September 2026, total assets were ₹244.93 crore, compared with ₹232.59 crore as on 31 March 2026. Total equity was ₹239.25 crore against ₹227.77 crore, while cash fell to ₹3.48 crore from ₹8.97 crore. There were no borrowings on either balance sheet date, and inventories were ₹23.90 crore compared with ₹0.00 crore.
For H1 FY27, operating cash flow was a loss of ₹25.67 crore, compared with an inflow of ₹17.08 crore in H1 FY26. Investing cash flow was an inflow of ₹20.30 crore against an outflow of ₹15.86 crore, financing cash flow was an outflow of ₹0.13 crore in both periods, and capital expenditure was ₹0.03 crore compared with ₹70.97 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 244.93 | 232.59 |
| Total equity | 239.25 | 227.77 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 3.48 | 8.97 |
| Inventories | 23.90 | 0 |
| Trade receivables | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −25.67 | 17.08 |
| Cash from investing | 20.30 | −15.86 |
| Cash from financing | −0.13 | −0.13 |
| Capital expenditure | 0.03 | 70.97 |
Source: Company's results filing (XBRL).
How has Surat Trade and Mercantile done over the last 8 quarters?
Revenue reached a high of ₹51.67 crore in Q2 FY27, above ₹49.35 crore in Q1 FY27, while the earlier low in the supplied trend was ₹7.42 crore in Q4 FY25. Profit was highest at ₹9.67 crore in Q1 FY27, compared with ₹1.81 crore in Q2 FY27, and had earlier fallen to a loss of ₹4.00 crore in Q4 FY25.
The EBITDA margin was -2.6% in Q2 FY27, after 6.7% in Q1 FY27, and had reached -27.6% in Q4 FY25. Revenue has risen year on year in each of the last 3 quarters, while profit has risen year on year in each of the last 2 quarters.
How did Surat Trade and Mercantile shares react?
The filing was released on 5 November 2026, and the stock rose 5.9% on the reaction day from its previous close of ₹4.10. There was no price change at 5, 15 or 30 minutes after the filing appeared. The Other Textile Products industry median rose 0.7% over the same session, so the stock’s excess move was 5.1 percentage points.
Earlier reaction-day moves were -1.9% on 12 August 2026, 0.0% on 26 May 2026, -3.7% on 14 February 2026 and -3.3% on 13 November 2025. The next-day and five-day cumulative moves were not provided.
| After the filing | Stock | Other Textile Products median |
|---|---|---|
| 5 minutes | +0.0% | |
| 15 minutes | +0.0% | |
| 30 minutes | +0.0% | |
| Reaction day | +5.9% | +0.7% |
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 | −1.9% |
| 26 May 2026 | +0.0% |
| 14 February 2026 | −3.7% |
| 13 November 2025 | −3.3% |
| 12 August 2025 | +6.2% |
| 27 May 2025 | +0.5% |
| 8 August 2024 | −0.3% |
| 24 May 2024 | −0.3% |
Source: MarketPing price-reaction measurement.
How did other Other Textile Products companies do?
Among 93 Other Textile Products companies compared for revenue growth, the median was 20.7%. Surat Trade and Mercantile’s revenue growth was higher than that of 87 peers and lower than that of 6 peers, based on the two growth comparison fields. Of 96 peers for which profit was compared, 68 reported higher profit.
| Surat Trade and Mercantile revenue growth (YoY) | +210.0% |
|---|---|
| Median of 93 other Other Textile Products companies | +20.7% |
| Companies with slower revenue growth than Surat Trade and Mercantile | 87 of 93 |
| Companies with faster revenue growth than Surat Trade and Mercantile | 6 of 93 |
| Companies whose net profit rose | 68 of 96 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Surat Trade and Mercantile's revenue in Q2 FY27?
Revenue from operations was ₹51.67 crore, up 210.0% from ₹16.67 crore in Q2 FY26 (standalone).
Did Surat Trade and Mercantile make a profit in Q2 FY27?
Yes. Net profit was ₹1.81 crore, against a net profit of ₹0.27 crore in Q2 FY26.
What was Surat Trade and Mercantile's EPS in Q2 FY27?
Basic earnings per share were ₹0.08, against ₹0.01 in Q2 FY26.
How did Surat Trade and Mercantile shares react to the Q2 FY27 results?
On the reaction day the stock moved +5.9% from the previous close; the median Other Textile Products stock moved +0.7%.
When did Surat Trade and Mercantile announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
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.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.