Kisan Mouldings Q2 FY27 Results (BSE: 530145)
Signal: Loss widened
The read
Revenue inflected up to ₹6772.3 lakh, +42.7% YoY and +3.8% QoQ, but the core remained loss-making at ₹385.39 lakh PAT; the sequential narrowing from ₹668.80 lakh is not yet a turnaround, especially as the prior results series shows four consecutive quarters of contracting operating margin through Q1FY27.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹67.72 Cr | +42.7% | +3.8% |
| Net profit | ₹-3.85 Cr | -6363% | |
| EPS | ₹-0.32 | -540% | |
| EBIT margin | -2.79% |
P&L walk
Consolidated revenue was ₹6772.3 lakh, +42.7% YoY and +3.8% QoQ, but the group still reported a ₹385.39 lakh loss as operating costs and finance charges overwhelmed gross contribution; the subsidiary contributed only a ₹0.12 lakh quarterly loss.
Segments
The company reports one operating segment, manufacturing and trading of plastic pipes, fittings and allied products; the subsidiary had nil revenue and a ₹0.12 lakh quarterly loss, so consolidated and standalone performance were nearly identical.
Key positives
- Revenue increased to ₹6772.3 lakh, +42.7% YoY and +3.8% QoQ, reversing the ₹6523.3 lakh Q1FY27 run-rate decline.
- PAT loss narrowed sequentially from ₹668.80 lakh to ₹385.39 lakh and EPS improved from ₹-0.56 to ₹-0.32.
- Operating cash flow was positive at ₹882.32 lakh for the quarter, supported by ₹1857.84 lakh of trade-payable inflow and ₹486.81 lakh of inventory release.
Key concerns
- PAT remained a ₹385.39 lakh loss despite +42.7% YoY revenue growth, showing that revenue recovery has not yet restored profitability.
- Operating margin remained negative at -2.79%, following the prior series' contraction from 3.27% in Q1FY26 to -7.34% in Q1FY27.
- Borrowings increased to ₹3292.90 lakh from ₹3155.47 lakh at March 31, 2026 while cash fell to ₹6.15 lakh.
- The proposed amalgamation with Apollo Pipes remains subject to stock-exchange, NCLT, shareholder and creditor approvals; the filing provides no quantified earnings impact.
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