KUKusumgar544821Quarterly results

Kusumgar Q2 FY27: revenue up 81% YoY to ₹2,509 Mn, PAT up 272%

Q2 FY27 revenue up 81% YoY to ₹2,509 Mn and PAT up 272% to ₹406 Mn; EBITDA margin 28% vs 22%, though down from 31% QoQ.

By ScoutQuest · Thu 5 Nov 2026, 9:18 PM IST · 1 min read

Q2 FY27 Revenue

₹2,509 Mn, up 81% YoY from ₹1,388 Mn

Q2 FY27 PAT

₹406 Mn versus ₹109 Mn, up 272%

EBITDA Margin

28% vs 22%, down from 31% QoQ

Period

Q2 FY27

Positioning

In its own words Kusumgar is a textile-forward materials and solutions company focused on aerospace and defence, with the majority of business from aerospace and defence and diversification across industrial and global-brand segments.

📈 Revenue in Q2 FY27 rose 81% year on year to ₹2,509 Mn from ₹1,388 Mn and was up 1% quarter on quarter, with EBITDA at ₹713 Mn (up 132% YoY) and profit after tax at ₹406 Mn versus ₹109 Mn, which lifted the PAT margin to 16% from 8%.

📉 The EBITDA margin improved to 28% from 22% a year earlier but moderated from 31% in Q1 FY27 and EBITDA was 7% lower quarter on quarter; the deck attributes the sequential softening to a product mix shift and higher raw material costs. H1 FY27 revenue was ₹4,982 Mn (up 91% YoY) with PAT of ₹832 Mn against ₹176 Mn, and the company notes an expected credit loss provision of ₹6.7 Cr on government receivables.

🌍 The presentation describes a technology-led aerospace and defence focused business that designs and integrates mission-critical systems, calls itself an incumbent supplier in several areas to the Indian armed forces and says it is growing in exports, with in-house materials and chemistry plus exclusive global technology partnerships as its stated moats.

📋 Management says product qualifications with armed forces and OEMs in India and overseas are progressing and that it continues to invest in technology, R&D and global partnerships. It states that capex in H1 FY27 was ₹44.1 Cr, mainly for maintenance and debottlenecking, and that significant new capex will be disclosed as and when relevant; the company also says it does not disclose an order book or pipeline value.

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