Kalpataru Q2 FY27 Results: Consolidated Net Loss ₹70.67 Crore on Total Income of ₹479 Crore
Earnings
Real estate development
Blacklitt Research3 min read
Joshua T. Garcia, via Wikimedia Commons (CC0). Illustrative image.
Kalpataru's consolidated total income for the quarter ended 30 Sep 2026 was ₹479.37 crore, and its net loss was ₹70.67 crore. Standalone total income was ₹92.39 crore and the standalone net loss was ₹18.31 crore, it said in a filing on 29 Oct 2026.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹479.37 crore, down 41.2% YoY and 3.2% QoQ
Net profit and EPS: net loss of ₹70.67 crore; basic EPS of -₹3.14
Revenue from operations: ₹437.17 crore, down 44.9% YoY and 7.4% QoQ
Finance costs: ₹12.48 crore, up 0.9% YoY
Standalone
The company on its own, without its subsidiaries
Total income: ₹92.39 crore, flat YoY (0.0%) and up 7.3% QoQ
Net profit and EPS: net loss of ₹18.31 crore; basic EPS of -₹0.89
Revenue from operations: ₹56.19 crore, up 16.0% YoY and 19.9% QoQ
Finance costs: ₹41.46 crore, down 13.0% YoY
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
479.37
815.66
-41.2%
495.04
-3.2%
Revenue from operations
437.17
793.77
-44.9%
472.20
-7.4%
Other income
42.20
21.89
+92.8%
22.84
+84.8%
-70.67
4.96
n/a
-29.04
-143.4%
Finance costs
12.48
12.37
+0.9%
20.49
-39.1%
Depreciation
11.73
10.73
+9.3%
10.26
+14.3%
Tax expense
-8.30
-0.18
n/a
-6.01
-38.1%
Net profit margin
-14.74%
0.61%
-15.35 pp
-5.87%
-8.88 pp
EPS, basic (₹)
-3.14
0.26
n/a
n/a
n/a
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.
Consolidated revenue from operations was ₹437.17 crore for the quarter ended 30 Sep 2026. That is down 44.9% from ₹793.77 crore a year earlier and down 7.4% from ₹472.20 crore in the quarter ended 30 Jun 2026. Other income rose to ₹42.20 crore from ₹21.89 crore a year earlier, and was 8.8% of total income of ₹479.37 crore.
The consolidated loss before tax was ₹78.97 crore, against a profit before tax of ₹4.78 crore a year earlier. The net loss was ₹70.67 crore, wider than the ₹29.04 crore net loss in the quarter ended 30 Jun 2026, and against a net profit of ₹4.96 crore a year earlier. Of the net loss, ₹64.60 crore is attributable to owners of the parent. The net profit margin was -14.74%.
Finance costs were ₹12.48 crore, up 0.9% from ₹12.37 crore a year earlier and down 39.1% from ₹20.49 crore in the June quarter. Depreciation was ₹11.73 crore, up 9.3% year on year. The consolidated tax line is a credit of ₹8.30 crore. A ₹10.48 crore impact from the change in deferred tax assets was recognised in the statement of profit and loss for the quarter and half year ended 30 Sep 2026, according to the filing. Basic EPS was -₹3.14, against ₹0.26 a year earlier.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
92.39
92.37
0.0%
86.12
+7.3%
Revenue from operations
56.19
48.42
+16.0%
46.85
+19.9%
Other income
36.20
43.95
-17.6%
39.27
-7.8%
-18.31
-6.05
-202.6%
-0.75
n/a
Finance costs
41.46
47.64
-13.0%
37.26
+11.3%
Depreciation
4.53
5.33
-15.0%
3.31
+36.9%
Tax expense
10.54
-2.18
n/a
1.67
+531.1%
Net profit margin
-19.82%
-6.55%
-13.27 pp
-0.87%
-18.95 pp
EPS, basic (₹)
-0.89
n/a
n/a
n/a
n/a
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 revenue from operations was ₹56.19 crore, up 16.0% from ₹48.42 crore a year earlier and up 19.9% from ₹46.85 crore in the quarter ended 30 Jun 2026. Other income fell 17.6% to ₹36.20 crore from ₹43.95 crore a year earlier, and was 39.2% of total income of ₹92.39 crore.
The standalone net loss was ₹18.31 crore, against ₹6.05 crore a year earlier and ₹0.75 crore in the quarter ended 30 Jun 2026. Basic EPS was -₹0.89 against -₹0.29 a year earlier. The standalone tax expense was ₹10.54 crore, against a credit of ₹2.18 crore a year earlier. The net profit margin was -19.82%.
Standalone finance costs were ₹41.46 crore, down 13.0% from ₹47.64 crore a year earlier and up 11.3% from ₹37.26 crore in the quarter ended 30 Jun 2026. Depreciation was ₹4.53 crore, down 15.0% year on year.
Inference
IPO proceeds of ₹1,590 crore were completely utilised as on 30 Sep 2026, per the utilisation note in both sets of results. Consolidated inventories were ₹15,133.87 crore at 30 Sep 2026, against ₹13,659.92 crore at 31 Mar 2026.
The company has opted for the concessional tax rate under Section 200 of the Income-tax Act, 2025 from Tax Year 2026-27. Klassik Vinyl Products LLP ceased to be an associate, and Azure Tree Townships LLP ceased to be a joint venture, with effect from 1 Jul 2026.
Why consolidated revenue from operations fell year on year, and why inventories rose between 31 Mar 2026 and 30 Sep 2026, is not stated.
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