GODAVARIBGodavari Biorefineries Ltd.
Godavari Biorefineries Q2 FY27 Results: Consolidated Net Loss ₹15.24 Crore on Total Income of ₹550 Crore
- Earnings
- sugar and bio-based chemicals
Reviewed byKeshav SehgalBlacklitt Research
Godavari Biorefineries (NSE: GODAVARIB) reported consolidated total income of ₹549.76 crore and a net loss of ₹15.24 crore for the quarter ended 30 Sep 2026, it said in a filing on 04 Nov 2026. Standalone total income was ₹544.77 crore and the standalone net loss was ₹15.23 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹549.76 crore, up 27.1% YoY and down 1.8% QoQ
- Net profit and EPS: Loss of ₹15.24 crore against ₹41.30 crore a year earlier; basic loss per share ₹2.98
- Exceptional items: Nil this quarter; note 6 records ₹26.66 crore for harvest charges on the 2023-24 season
Standalone
The company on its own, without its subsidiaries
- Total income: ₹544.77 crore, up 25.5% YoY and 0.2% QoQ
- Net profit and EPS: Loss of ₹15.23 crore against ₹36.84 crore a year earlier; basic loss per share ₹2.98
- Other income: ₹8.07 crore, 1.5% of total income, up 145.0% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 549.76 | 432.60 | +27.1% | 559.93 | -1.8% | |
| Revenue from operations | 545.24 | 430.75 | +26.6% | 557.88 | -2.3% |
| Other income | 0.53 | 1.85 | -71.6% | 2.05 | -74.3% |
| -15.24 | -41.30 | +63.1% | -15.32 | +0.5% | |
| Profit before tax | -19.75 | -56.90 | +65.3% | -25.85 | +23.6% |
| Finance costs | 15.39 | 12.32 | +25.0% | 13.93 | +10.5% |
| Depreciation | 15.20 | 13.52 | +12.4% | 14.09 | +7.9% |
| Tax expense | -4.50 | -15.60 | +71.1% | -8.53 | +47.2% |
| Net profit margin | -2.77% | -9.55% | +6.77 pp | -2.74% | -0.04 pp |
| EPS, basic (₹) | -2.98 | -8.06 | +63.0% | -2.99 | +0.3% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
The loss narrowed sharply from a year earlier, with a smaller tax credit. The net loss was ₹15.24 crore against ₹41.30 crore in the quarter a year before, while total income rose 27.1% to ₹549.76 crore. Tax was a credit of ₹4.50 crore against ₹15.60 crore a year earlier, and finance costs rose 25.0% to ₹15.39 crore, which is 2.8% of total income.
Other income is a small share of the result. At ₹0.53 crore it is 0.1% of total income and fell 71.6% from a year earlier, so revenue from operations of ₹545.24 crore, up 26.6%, makes up almost all of the quarter's income.
Note 6 of the results records an exceptional expense of ₹26.66 crore for additional harvest charges on the 2023-24 sugar season, which the company says it decided to pay to remain competitive with neighbouring mills. The current quarter's exceptional line is nil. Note 4 says some segments are seasonal, so the quarter is not representative of annual performance.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 544.77 | 434.10 | +25.5% | 543.90 | +0.2% | |
| Revenue from operations | 536.70 | 430.81 | +24.6% | 536.70 | 0.0% |
| Other income | 8.07 | 3.30 | +145.0% | 7.20 | +12.1% |
| -15.23 | -36.84 | +58.7% | -21.27 | +28.4% | |
| Profit before tax | -20.99 | -52.27 | +59.8% | -25.82 | +18.7% |
| Finance costs | 15.15 | 12.22 | +24.0% | 13.81 | +9.7% |
| Depreciation | 15.15 | 13.47 | +12.5% | 14.47 | +4.7% |
| Tax expense | -5.76 | -15.44 | +62.7% | -4.55 | -26.6% |
| Net profit margin | -2.80% | -8.49% | +5.69 pp | -3.91% | +1.12 pp |
| EPS, basic (₹) | -2.98 | -7.20 | +58.6% | -4.15 | +28.2% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone results follow the same pattern. The net loss of ₹15.23 crore compares with ₹36.84 crore a year earlier, and revenue from operations of ₹536.70 crore rose 24.6% YoY and was flat QoQ. Other income of ₹8.07 crore, 1.5% of total income, rose 145.0% YoY.
The consolidated net loss is ₹0.01 crore larger than the standalone loss, and consolidated total income is ₹4.99 crore higher. Consolidated results include five subsidiaries, among them Solar Magic Private Limited, Cayuga Investments B.V and Sathgen Therapeutics LLC, as listed in the auditors' review report.
Inference
The Board approved the unaudited consolidated and standalone results on 4 Nov 2026, and Verma Mehta & Associates carried out a limited review of both and issued unmodified review reports.
The results give no reason for the fall in the tax credit from ₹15.60 crore to ₹4.50 crore, and do not state whether the exceptional items will recur.
Filed with BSE on . Reference: Original filing (PDF)
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