Ganesh Consumer Products Limited announced its un-audited financial results for the quarter and six months ended September 30, 2026 (Q2 FY27 and H1 FY27).

Financial Performance - Q2 FY27 vs Q2 FY26

  • Total Income: ₹2,285 Mn, declined 4.8% YoY (from ₹2,399 Mn in Q2 FY26)
  • EBITDA: ₹295 Mn, increased 23.6% YoY (from ₹239 Mn in Q2 FY26)
  • EBITDA Margin: 13.0%, expanded by 302 basis points YoY (from 10.0% in Q2 FY26)
  • Profit After Tax (PAT): ₹188 Mn, increased 68.7% YoY (from ₹111 Mn in Q2 FY26)
  • PAT Margin: 8.2%, expanded by 358 basis points YoY (from 4.6% in Q2 FY26)
  • Basic/Diluted EPS: ₹4.70, increased 55.0% YoY (from ₹3.04 in Q2 FY26)

Financial Performance - H1 FY27 vs H1 FY26

  • Total Income: ₹4,188 Mn, declined 5.7% YoY (from ₹4,440 Mn in H1 FY26)
  • EBITDA: ₹506 Mn, increased 11.9% YoY (from ₹452 Mn in H1 FY26)
  • EBITDA Margin: 12.2%, expanded by 194 basis points YoY (from 10.2% in H1 FY26)
  • PAT: ₹313 Mn, increased 51.5% YoY (from ₹207 Mn in H1 FY26)
  • PAT Margin: 7.5%, expanded by 282 basis points YoY (from 4.7% in H1 FY26)
  • Basic/Diluted EPS: ₹7.84, increased 38.6% YoY (from ₹5.66 in H1 FY26)

Quarterly Sequential Performance (Q2 FY27 vs Q1 FY27)

  • Total Income grew 20.0% sequentially (from ₹1,903 Mn in Q1 FY27)
  • EBITDA grew 40.5% sequentially (from ₹210 Mn in Q1 FY27)
  • EBITDA Margin expanded 188 basis points sequentially (from 11.2% in Q1 FY27)
  • PAT grew 49.9% sequentially (from ₹125 Mn in Q1 FY27)
  • PAT Margin expanded 164 basis points sequentially (from 6.6% in Q1 FY27)
  • EPS grew 49.9% sequentially (from ₹3.14 in Q1 FY27)

Business Segment Performance

  • B2C Revenue: Declined 2.5% YoY, with pressure concentrated in Atta category
  • Atta Category Volumes: Declined following changes in State Government policies that led local millers to increase distribution in unorganised segment
  • Packaged Atta Category (West Bengal): Declined 6.3% YoY during the quarter as per NielsenIQ data
  • Excluding Atta: B2C revenue grew 4.9% YoY and 26.0% sequentially
  • B2B Revenue: Declined 13.8% YoY, mainly due to lower service income and softer co-product volumes

Product Category Performance

  • Value-added portfolio: Continued growth resulting in increased share in B2C revenue
  • Sattu Category: Delivered strong growth supported by directed marketing campaign involving Ravindra Jadeja
  • Spices Category: Revenue grew strongly with significant margin improvement on stronger realisations
  • Marketing Approach: Extended targeted campaign approach to spices category with new campaigns

Strategic Initiatives

  • E-commerce Expansion: Expanding e-commerce presence in regional markets in Bihar and Assam
  • Manufacturing Footprint: Sold Hyderabad plant, proceeds to be redeployed into eastern India
  • Eastern India Expansion: Working towards setting up plants in other eastern states to drive supply chain efficiencies
  • Distribution Network: Strong presence in West Bengal, strengthening network in Jharkhand, Orissa, Bihar and Assam

Profitability Drivers

  • Better product mix supported profitability
  • Phasing of advertising spend (expected to step up over rest of the year)
  • Lower finance costs following deleveraging

Corporate Action

  • Interim Dividend: Board declared an interim dividend of ₹3.7 per share

Company Overview

Ganesh Consumer Products Limited is a leading manufacturer of packaged wheat and gram-based flours including atta, maida, sooji, dalia, besan, and sattu, along with spices, instant mixes, and ethnic flour. The company has a robust distribution network spanning over 350,000+ retail outlets and is recognized as a market leader in East India.