Purple Style Q2 FY27 Results (NSE: PERNIASPOP)
Signal: Loss narrowed
The read
The key inflection is revenue acceleration to ₹1,421.07 million, up 130.2% YoY and 30.7% QoQ, without a corresponding consolidated earnings inflection: consolidated EPS stayed negative at ₹-9.57 while standalone revenue fell 42.1% YoY and standalone EPS was ₹0.22, leaving the post-IPO subsidiary scaling economics unproven.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹142.11 Cr | +130.2% | +30.7% |
| Net profit | ₹-68.29 Cr | N/A | |
| EPS | ₹-9.57 | +26.0% | |
| EBIT margin | N/A |
P&L walk
Consolidated revenue rose to ₹1,421.07 million, up 130.2% YoY and 30.7% QoQ, but the group remained loss-making with EPS of ₹-9.57; the filing does not disclose a comparable consolidated EBITDA or EBIT margin.
Segments
The company reports one operating segment, but the consolidated group materially drags the parent: standalone EPS was ₹0.22 while consolidated EPS was ₹-9.57, indicating losses sit primarily in subsidiaries or consolidation-level costs.
Key positives
- Consolidated revenue rose to ₹1,421.07 million, up 130.2% YoY and 30.7% QoQ, showing strong reported top-line momentum after the group expansion.
- Standalone operating cash flow improved to ₹250.75 million in H1FY27 from negative ₹172.42 million in H1FY26.
- The IPO generated ₹6,800.00 million of fresh capital, with ₹5,285.50 million of unutilised proceeds temporarily invested in fixed deposits.
Key concerns
- Consolidated EPS remained negative at ₹-9.57 despite revenue growth, while standalone EPS was positive at ₹0.22; group-level subsidiary losses are the central earnings concern.
- Standalone revenue declined 42.1% YoY to ₹182.62 million and 35.2% QoQ, indicating that the parent entity's own operating momentum weakened.
- Consolidated borrowings were ₹7,019.01 million against cash and bank balances of ₹5,487.23 million, leaving material gross leverage during the expansion phase.
- Consolidated inventory was ₹1,957.98 million, materially above trade receivables of ₹51.47 million, making inventory conversion a key execution risk.
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