PASHUPATIPashupati Cotspin Ltd.
Pashupati Cotspin Q2 FY27 Results: Consolidated Net Profit ₹4.77 Crore on Total Income of ₹182 Crore
- Earnings
- Cotton ginning and spinning
Reviewed byKeshav SehgalBlacklitt Research
Pashupati Cotspin (NSE: PASHUPATI) reported consolidated total income of ₹181.68 crore and net profit of ₹4.77 crore for the quarter ended 30 Sep 2026, and it said in a filing on 06 Nov 2026 that its standalone total income was ₹171.70 crore with net profit of ₹5.10 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹181.68 crore, down 25.0% YoY and up 37.2% QoQ
- Net profit: ₹4.77 crore, up 18.0% YoY and down 34.2% QoQ
- EPS: ₹0.32 basic, against ₹0.26 a year earlier and ₹0.46 in Q1 FY27
- Finance costs: ₹3.36 crore, up 9.8% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹171.70 crore, down 29.6% YoY and up 37.4% QoQ
- Net profit: ₹5.10 crore, up 26.1% YoY and down 29.6% QoQ
- EPS: ₹0.32 basic, against ₹0.26 a year earlier and ₹0.46 in Q1 FY27
- Interim dividend: ₹0.02 per share, record date 23 Nov 2026
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 181.68 | 242.11 | -25.0% | 132.46 | +37.2% | |
| Revenue from operations | 178.36 | 240.03 | -25.7% | 130.01 | +37.2% |
| Other income | 3.32 | 1.90 | +74.4% | 2.45 | +35.7% |
| 4.77 | 4.05 | +18.0% | 7.25 | -34.2% | |
| Profit before tax | 6.45 | 5.86 | +10.0% | 9.55 | -32.5% |
| Finance costs | 3.36 | 3.06 | +9.8% | 3.03 | +10.9% |
| Depreciation | 2.23 | 2.37 | -5.8% | 2.21 | +0.8% |
| Tax expense | 1.67 | 1.82 | -7.9% | 2.30 | -27.2% |
| Net profit margin | 2.63% | 1.67% | +0.96 pp | 5.47% | -2.85 pp |
| EPS, basic (₹) | 0.32 | 0.26 | +23.1% | 0.46 | -30.4% |
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 net profit rose 18.0% year on year while total income fell 25.0%, so the profit gain came with a much smaller top line. Revenue from operations fell 25.7% and other income rose 74.4% to ₹3.32 crore, which is 51.5% of profit before tax of ₹6.45 crore. Other income therefore makes up a large part of the pre-tax figure this quarter.
Finance costs of ₹3.36 crore are 1.8% of total income, and they rose 9.8% from ₹3.06 crore a year earlier. Depreciation fell 5.8% to ₹2.23 crore. Tax of ₹1.67 crore is 26.0% of profit before tax.
The filing states that the cotton ginning business is seasonal, running from October to April, so the first and second half results are not comparable. Net profit attributable to owners is ₹5.10 crore, while the non-controlling interest share is a loss of ₹32.68 lakh. Exceptional items are nil in the quarter.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 171.70 | 243.83 | -29.6% | 124.95 | +37.4% | |
| Revenue from operations | 169.47 | 241.82 | -29.9% | 122.11 | +38.8% |
| Other income | 2.24 | 1.99 | +12.6% | 2.84 | -21.2% |
| 5.10 | 4.04 | +26.1% | 7.24 | -29.6% | |
| Profit before tax | 6.77 | 5.86 | +15.5% | 9.54 | -29.0% |
| Finance costs | 3.18 | 2.42 | +31.4% | 2.85 | +11.4% |
| Depreciation | 2.21 | 2.21 | 0.0% | 2.19 | +0.8% |
| Tax expense | 1.67 | 1.82 | -7.9% | 2.30 | -27.2% |
| Net profit margin | 2.97% | 1.66% | +1.31 pp | 5.80% | -2.83 pp |
| EPS, basic (₹) | 0.32 | 0.26 | +23.1% | 0.46 | -30.4% |
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 net profit rose 26.1% year on year while total income fell 29.6%. Revenue from operations fell 29.9%, and other income rose 12.6% to ₹2.24 crore, which is 33.1% of profit before tax of ₹6.77 crore.
Finance costs rose 31.4% to ₹3.18 crore, or 1.9% of total income. Depreciation was flat at ₹2.21 crore. Tax of ₹1.67 crore is 24.7% of profit before tax. Standalone net profit is ₹0.33 crore above the consolidated figure, the difference being the non-controlling interest share.
The statutory auditors, Mahendra N. Shah & Co., issued limited review reports without qualification on both sets of results. For the consolidated figures they relied on another auditor's report for a partnership firm included in the group.
The company sub-divided its shares from face value ₹10 to ₹1 each, with a record date of 17 Apr 2026, and restated prior-period EPS. The board on 03 Oct 2026 recommended a bonus issue of three shares for every two held. The company's notes do not give the shareholder approval date for the bonus issue.
On 06 Nov 2026 the board declared an interim dividend of ₹0.02 per share for FY 2026-27, which is 2% of paid-up equity capital. The record date is 23 Nov 2026 and payment is due on or before 05 Dec 2026. The filing does not state the total payout in rupees.
Inference
The filing sets out an interim dividend of ₹0.02 per share with a record date of 23 Nov 2026, and a recommended bonus issue of 3:2 that is subject to shareholder and regulatory approvals.
The filing does not explain the large year-on-year fall in total income and revenue from operations, nor the rise in consolidated trade receivables, loans and other current assets, and the reasons are not stated.
Filed with BSE on . Reference: Original filing (PDF)
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