Riddhi Siddhi Gl Q2 FY27 Results (BSE: 524480)
Signal: Growth reaccelerated
The read
The key inflection is the acquired starch division entering consolidated revenue, lifting Q2FY27 consolidated revenue to 6,648.97 lakh, up 107.1% YoY, but the investment case remains unproven because consolidated PAT and margins are not disclosed in the supplied statement text and standalone PAT fell 26.2% YoY to 1,767.76 lakh as investment income weakened and expenses rose.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹66.49 Cr | +107.1% | -26.0% |
P&L walk
The disclosed consolidated face shows revenue from operations of 6,648.97 lakh, up 107.1% YoY but down 26.0% QoQ, and total income of 8,049.08 lakh, up 48.4% YoY but down 24.7% QoQ; the supplied filing text does not disclose the remaining consolidated P&L lines.
Segments
In the standalone split, Trading Business was the main momentum driver: revenue rose 186.7% YoY to 4,939.14 lakh and segment result turned positive at 759.82 lakh from a loss of 198.82 lakh, while Wind Energy Generation remained profitable at 600.07 lakh with revenue up 12.4% YoY.
Key positives
- Consolidated revenue from operations rose 107.1% YoY to 6,648.97 lakh despite falling 26.0% QoQ.
- Trading Business segment result turned positive at 759.82 lakh from a loss of 198.82 lakh in Q2FY26.
- Standalone operating cash flow improved to an outflow of 1,046.64 lakh in H1FY27 from an outflow of 4,480.26 lakh in H1FY26.
- Standalone EPS of ₹24.79 tracked the 26.2% YoY decline in PAT, with no evidence of material dilution.
Key concerns
- Standalone PAT fell 26.2% YoY to 1,767.76 lakh despite 131.2% YoY revenue growth to 5,843.43 lakh.
- Other income declined 24.7% YoY to 2,215.49 lakh, while finance costs rose 18.7% and other expenses rose 181.4%.
- The acquired starch division was not present in the immediately preceding or year-ago periods, so reported growth is not directly comparable and manufacturing profitability is not yet visible in the supplied consolidated P&L.
- H1FY27 capital expenditure on property, plant and equipment was 17,325.76 lakh while operating cash flow remained negative at 1,046.64 lakh.
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