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Vakrangee Q2 FY27 results: net profit down 9.9% to ₹2.73 crore, revenue down 10.7%
Vakrangee Limited reported consolidated revenue of ₹61.68 crore in Q2 FY27, down 10.7% from the year-ago quarter but up 10.3% from Q1 FY27. Net profit for the period was ₹2.73 crore, while profit attributable to owners rose to ₹3.03 crore and basic EPS was ₹0.03.
Key points
- Consolidated revenue was ₹61.68 crore in Q2 FY27, down 10.7% from ₹69.08 crore a year earlier and up 10.3% from ₹55.92 crore in Q1 FY27.
- EBITDA was ₹7.05 crore at a margin of 11.4%, against ₹7.27 crore and 10.5% in Q2 FY26 and ₹6.64 crore and 11.9% in Q1 FY27.
- Profit before tax rose to ₹4.31 crore from ₹4.11 crore a year earlier, while net profit for the period was ₹2.73 crore and profit attributable to owners was ₹3.03 crore.
- H1 FY27 revenue was ₹117.61 crore, down 14.7% from ₹137.92 crore in H1 FY26, and net profit was ₹4.98 crore against ₹6.35 crore.
- Total assets rose to ₹322.21 crore as of 30 September 2026 from ₹311.58 crore on 31 March 2026, while cash fell to ₹33.53 crore from ₹40.69 crore.
How did Vakrangee perform in Q2 FY27?
Vakrangee Limited reported consolidated revenue of ₹61.68 crore in Q2 FY27, down 10.7% from ₹69.08 crore in Q2 FY26. Against the previous quarter, revenue was higher by 10.3% from ₹55.92 crore in Q1 FY27. Total income was ₹64.09 crore, down 9.2% from ₹70.58 crore a year earlier and up 10.7% from ₹57.90 crore in Q1 FY27.
EBITDA for the quarter was ₹7.05 crore, down 3.0% from ₹7.27 crore in Q2 FY26 and up 6.2% from ₹6.64 crore in Q1 FY27. The EBITDA margin was 11.4%, compared with 10.5% a year earlier and 11.9% in the previous quarter. Profit before tax was ₹4.31 crore, up 4.9% from ₹4.11 crore a year earlier and up 17.4% from ₹3.67 crore in Q1 FY27.
Net profit for the period was ₹2.73 crore, down 9.9% from ₹3.03 crore in Q2 FY26 and up 20.8% from ₹2.26 crore in Q1 FY27. Profit attributable to owners of the company was ₹3.03 crore, up 5.9% from ₹2.86 crore a year earlier and up 16.1% from ₹2.61 crore in the previous quarter. Basic EPS was ₹0.03, unchanged from Q2 FY26 and up from ₹0.02 in Q1 FY27. On the standalone basis, revenue was ₹42.98 crore and net profit was ₹3.86 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 61.68 | 55.92 | 69.08 | −10.7% | +10.3% |
| Other income | 2.41 | 1.98 | 1.50 | +60.7% | +21.7% |
| Total expenses | 59.75 | 54.21 | 66.61 | −10.3% | +10.2% |
| EBITDA | 7.05 | 6.64 | 7.27 | −3.0% | +6.2% |
| EBITDA margin | 11.4% | 11.9% | 10.5% | +0.9 pp | −0.5 pp |
| Profit before tax | 4.31 | 3.67 | 4.11 | +4.9% | +17.4% |
| Tax | 1.58 | 1.41 | 1.08 | +46.3% | +12.1% |
| Net profit | 2.73 | 2.26 | 3.03 | −9.9% | +20.8% |
| EPS (₹) | 0.03 | 0.02 | 0.03 | +0.0% | +50.0% |
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 Vakrangee's costs and profit?
Total expenses fell to ₹59.75 crore in Q2 FY27 from ₹66.61 crore a year earlier, a decline of 10.3%. Cost of materials was lower at ₹7.43 crore against ₹13.45 crore, a fall of 44.8%, and other expenses were ₹5.06 crore against ₹6.41 crore, down 21.1%. Employee cost was higher at ₹9.90 crore from ₹9.57 crore, finance costs at ₹0.50 crore from ₹0.35 crore, and depreciation at ₹4.63 crore from ₹4.45 crore.
Other income rose to ₹2.41 crore from ₹1.50 crore a year earlier, an increase of 60.7%. The exceptional item moved to a charge of ₹0.03 crore from a gain of ₹0.14 crore. Tax expense was ₹1.58 crore against ₹1.08 crore a year earlier, up 46.3%. Against Q1 FY27, cost of materials rose by ₹6.33 crore, other income by ₹0.43 crore, total expenses by ₹5.54 crore and tax by ₹0.17 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 7.43 | 13.45 | −6.02 | −44.8% |
| Employee cost | 9.90 | 9.57 | +0.33 | +3.4% |
| Finance costs | 0.50 | 0.35 | +0.15 | +42.9% |
| Depreciation | 4.63 | 4.45 | +0.18 | +4.0% |
| Other expenses | 5.06 | 6.41 | −1.35 | −21.1% |
| Total expenses | 59.75 | 66.61 | −6.86 | −10.3% |
| Other income | 2.41 | 1.50 | +0.91 | +60.7% |
| Tax | 1.58 | 1.08 | +0.50 | +46.3% |
| Exceptional items | −0.03 (charge) | +0.14 (gain) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹117.61 crore, down 14.7% from ₹137.92 crore in H1 FY26. Total income was ₹121.99 crore against ₹140.93 crore, a decline of 13.4%.
Profit before tax for the first half was ₹7.98 crore, down 9.1% from ₹8.78 crore in H1 FY26. Net profit was ₹4.98 crore against ₹6.35 crore, down 21.6%, and EPS was ₹0.05 against ₹0.06.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 117.61 | 137.92 | −14.7% |
| Profit before tax | 7.98 | 8.78 | −9.1% |
| Net profit | 4.98 | 6.35 | −21.6% |
| EPS (₹) | 0.05 | 0.06 | −16.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets stood at ₹322.21 crore against ₹311.58 crore on 31 March 2026, and total equity was ₹228.21 crore against ₹223.35 crore. Borrowings were ₹4.1 crore against ₹3.81 crore. Cash was ₹33.53 crore against ₹40.69 crore, while inventories rose to ₹18.08 crore from ₹16.17 crore.
Trade receivables were ₹26.19 crore as of 30 September 2026, against ₹20.47 crore on 31 March 2026, and trade payables were ₹18.38 crore against ₹16.97 crore. For H1 FY27, operating cash flow was ₹2.29 crore against ₹20.35 crore in H1 FY26, investing cash flow was negative ₹8.68 crore against negative ₹7.28 crore, and financing cash flow was negative ₹0.77 crore against negative ₹0.51 crore. Capital expenditure was ₹4.1 crore against ₹9.84 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 322.21 | 311.58 |
| Total equity | 228.21 | 223.35 |
| Borrowings | 4.10 | 3.81 |
| Cash and equivalents | 33.53 | 40.69 |
| Inventories | 18.08 | 16.17 |
| Trade receivables | 26.19 | 20.47 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 2.29 | 20.35 |
| Cash from investing | −8.68 | −7.28 |
| Cash from financing | −0.77 | −0.51 |
| Capital expenditure | 4.10 | 9.84 |
Source: Company's results filing (XBRL).
How has Vakrangee done over the last 8 quarters?
Revenue declined over the reported series, from ₹69.08 crore in Q2 FY26 to ₹60.1 crore in Q3 FY26 and ₹56.74 crore in Q4 FY26, before rising to ₹61.68 crore in Q2 FY27. The lowest point was Q1 FY27 at ₹55.92 crore.
Net profit moved from ₹3.03 crore in Q2 FY26 to ₹1.62 crore in Q4 FY26 and then recovered to ₹2.73 crore in Q2 FY27. The EBITDA margin was 10.5% in Q2 FY26, peaked at 13.0% in Q3 FY26, fell to 8.4% in Q4 FY26 and was 11.4% in the latest quarter.
Which businesses drove the quarter?
Vakrangee Kendra reported revenue of ₹50.64 crore in Q2 FY27 against ₹51.32 crore in the year-ago quarter, a decline of 1.3%. Segment EBIT was ₹5.64 crore against ₹3.57 crore, with an EBIT margin of 11.1%.
The Sale of Automated Teller Machines (ATM) Products/Services segment reported revenue of ₹14.31 crore and EBIT of negative ₹1.33 crore, with an EBIT margin of negative 9.3%. The filing does not give a year-ago revenue or EBIT figure for this segment.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Vakrangee Kendra | 50.64 | −1.3% | 5.64 | 11.1% |
| Sale of Automated Teller Machines (ATM) Products/Services | 14.31 | −1.33 | -9.3% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the un-audited standalone and consolidated financial statements along with the limited review report for the quarter and half-year ended 30 September 2026 at its meeting held on 28 October 2026. The company also filed an investor presentation with the results. No dividend, fund raise or appointment is reported in the same-day filings.
What did Vakrangee's management say?
In the investor presentation, management said the company is going forward focusing on non-cash banking offerings such as Account Opening, Loan Product, Insurance Services, Fixed Deposits, Mutual Funds and NPA Recovery to drive deeper financial inclusion and value-added offerings. Management also said it is prioritising high-margin business and phasing out low-margin business to optimise operations, with a long-term aim to enhance margin expansion and sustainable growth.
Management set out a strategic goal to achieve 100% district coverage to accelerate Kendra expansion, through 541 Master Franchisees. The Kendra network was reported at 23,885 outlets across 614 districts in 32 states and union territories, with quarterly gross transaction value of ₹12,976.8 Cr and quarterly transactions of 2.9 Cr.
On Vortex, management said the ATM order received from a Public Sector Bank covers 540 ATM Machines, and that expansion plans target Latin America, MEA and Asia-Pacific following entry into Cameroon and Central Africa. Management also said the company and its subsidiaries are debt-free and maintains a balance sheet that supports expansion plans.
Management identified risks, including the expectation that digital payments will slow ATM and banking cash transactions and create profitability and viability challenges for standalone white-label ATM, AEPS/banking-only and money-transfer models. The deck gives only the 540-machine order without a total order-book value or quantified consolidated forward revenue and margin guidance, and renewable energy and consumer retail were described as exploratory initiatives without disclosed capex, launch timetable or quantified targets.
How did Vakrangee shares react?
The stock moved in the market after the filing. From the price when the filing appeared, it was up 0.7% after 5 minutes, down 0.7% after 15 minutes and up 0.9% after 30 minutes. On the reaction day, the stock closed up 1.6% from the previous close of ₹5.72.
By the next day's close the stock was up 0.3% from its pre-results close, and by the fifth session it was down 1.2%. The IT Enabled Services sector's other stocks recorded a median move of negative 0.2% on the reaction day, 0.1% the next day and 1.0% by the fifth day, leaving Vakrangee's excess sector move at 1.8 percentage points, 0.2 percentage points and negative 2.2 percentage points respectively.
Earlier results-day moves were mixed. The reaction-day move was negative 1.3% on 29 July 2026, negative 0.1% on 29 April 2026, negative 0.8% on 11 February 2026, positive 1.9% on 24 October 2025, negative 1.8% on 25 July 2025, negative 5.0% on 5 February 2025, negative 2.2% on 29 October 2024 and positive 1.1% on 12 August 2024.
| After the filing | Stock | IT Enabled Services median |
|---|---|---|
| 5 minutes | +0.7% | |
| 15 minutes | −0.7% | |
| 30 minutes | +0.9% | |
| Reaction day | +1.6% | −0.2% |
| Next day | +0.3% | +0.1% |
| 5 days | −1.2% | +1.0% |
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 |
|---|---|
| 29 July 2026 | −1.3% |
| 29 April 2026 | −0.1% |
| 11 February 2026 | −0.8% |
| 24 October 2025 | +1.9% |
| 25 July 2025 | −1.8% |
| 5 February 2025 | −5.0% |
| 29 October 2024 | −2.2% |
| 12 August 2024 | +1.1% |
Source: MarketPing price-reaction measurement.
How did other IT Enabled Services companies do?
Twenty-seven other IT Enabled Services companies have filed for this quarter, and the median revenue growth among them was 22.5%. Vakrangee's revenue fell over the year, so 23 peers grew faster than the company and 4 peers grew slower.
Of the 24 peers for which profit was compared, 19 reported profit growth.
| Vakrangee revenue growth (YoY) | −10.7% |
|---|---|
| Median of 27 other IT Enabled Services companies | +22.5% |
| Companies with slower revenue growth than Vakrangee | 4 of 27 |
| Companies with faster revenue growth than Vakrangee | 23 of 27 |
| Companies whose net profit rose | 19 of 24 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Vakrangee's revenue in Q2 FY27?
Revenue from operations was ₹61.68 crore, down 10.7% from ₹69.08 crore in Q2 FY26 (consolidated).
Did Vakrangee make a profit in Q2 FY27?
Yes. Net profit was ₹2.73 crore, against a net profit of ₹3.03 crore in Q2 FY26.
What was Vakrangee's EPS in Q2 FY27?
Basic earnings per share were ₹0.03, against ₹0.03 in Q2 FY26.
How did Vakrangee shares react to the Q2 FY27 results?
On the reaction day the stock moved +1.6% from the previous close; the median IT Enabled Services stock moved −0.2%.
When did Vakrangee announce its Q2 FY27 results?
On 28 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Board Meeting Intimation For Notice Of Board Meeting To Be Held On October 28, 2026 (BSE, 23 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On October 28, 2026 (BSE, 28 October 2026) · PDF
- The investor presentation (28 October 2026)
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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