Earning release: Q2 FY27 revenue ₹1,329 Mn, EBITDA ₹777 Mn, PAT ₹585 Mn

The operator of the Cordelia Cruises brand shared its Q2 & H1 FY27 earning release with an investor presentation.

Fri 9 Oct 2026

Q2 Revenue

₹1,329 Mn (+31% YoY)

Q2 PAT

₹585 Mn (+755% YoY), margin 44.02%

H1 Revenue

₹3,230 Mn (+16% YoY)

An earning release on the un-audited standalone and consolidated financial results for the second quarter and half year ended September 30, 2026, submitted together with an investor presentation for Q2 & H1 FY27. Figures are stated in INR Millions.

Q2 FY27 at a glance

• Revenue from operations: ₹1,329, up 31% YoY
• EBITDA*: ₹777, up 3337% YoY
• EBITDA margin: 58.45%, up 61 bps YoY
• PAT: ₹585, up 755% YoY
• PAT margin: 44.02%, up 53 bps YoY
• EPS: ₹0.85, not annualised

H1 FY27 at a glance

• Revenue from operations: ₹3,230, up 16% YoY
• EBITDA*: ₹1,242, up 131% YoY
• EBITDA margin: 38.45%, up 19 bps YoY
• PAT: ₹813, up 215% YoY
• PAT margin: 25.16%, up 16 bps YoY
• EPS: ₹1.20, not annualised

How these measures are described

Measures marked with an asterisk — EBITDA, Net Yield, Net Cruise Cost — are described in the presentation as adjusted management measures not defined under IndAS, and may not be comparable to similarly titled measures used by other companies. The EBITDA figures shown are stated as consolidated considering exceptional items. The presentation also says all figures are derived from the company's internal Operating Profit Analysis and its restated statutory financial statements, and that figures for previous periods have been regrouped and/or reclassified wherever considered necessary.

Industry snapshot given in the presentation

• Major cruise players account for 70–80%+ of the global industry
• 30+ potential cruise routes identified across recreational, heritage and long-distance segments
• India's overnight ocean & coastal cruise market grew from ₹5,764 Mn (FY20) to ₹8,301 Mn (FY25), a CAGR of about 8%
• Estimated cruise penetration, FY26: North America about 5.7%, India about 0.01%
• India market: ₹7,325 Mn in FY26E, and ₹18,200–22,500 Mn in FY31P, with a CAGR of about 20–25%

Forward-looking statements

The presentation states that it has been prepared solely for information purposes and does not constitute an offer, recommendation or invitation to purchase or subscribe to any securities. It notes that it may contain forward-looking statements based on expectations, assumptions and anticipated developments, that the company cannot guarantee these will be realised, and that it does not undertake any obligation to update them. It also says certain analysis in the document may be an estimate or interpretation and may differ from the actual underlying results.

What a reader can take away

The release presents growth on both a quarterly and half-yearly basis in revenue from operations, EBITDA and PAT, along with the company's own description of the Indian cruise market's size, penetration and medium-term growth potential.

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