Date: Friday, November 6, 2026

Financial Results (Standalone & Consolidated)

Q2 FY27 Performance:

  • Revenues: ₹298.60 crore
  • Other Income: ₹2.35 crore
  • Total Income: ₹300.95 crore (33.5% YoY growth)
  • Raw Material Expenses: ₹248.31 crore
  • Employee Costs: ₹12.67 crore
  • Other Expenses: ₹19.41 crore
  • Total Expenditure: ₹280.39 crore
  • EBITDA: ₹20.56 crore (5.2% YoY growth)
  • EBITDA Margin: 6.83% (184 basis points decline from Q2 FY26)
  • Finance Costs: ₹2.50 crore
  • Depreciation: ₹4.85 crore
  • PBT: ₹13.21 crore
  • Tax: ₹3.30 crore
  • PAT: ₹9.91 crore (-2.3% YoY)
  • PAT Margin: 3.29% (120 basis points decline from Q2 FY26)

H1 FY27 Performance:

  • Revenues: ₹608.14 crore
  • Other Income: ₹3.05 crore
  • Total Income: ₹611.19 crore (49.6% YoY growth)
  • Raw Material Expenses: ₹507.51 crore
  • Employee Costs: ₹23.47 crore
  • Other Expenses: ₹39.96 crore
  • Total Expenditure: ₹570.95 crore
  • EBITDA: ₹40.24 crore (13.6% YoY growth)
  • EBITDA Margin: 6.58% (209 basis points decline from H1 FY26)
  • Finance Costs: ₹4.99 crore
  • Depreciation: ₹9.22 crore
  • PBT: ₹26.03 crore
  • Tax: ₹6.60 crore
  • PAT: ₹19.43 crore (13.9% YoY growth)
  • PAT Margin: 3.18% (100 basis points decline from H1 FY26)

Historical Financial Performance:

FY24-FY26 Profit & Loss:
  • FY24: Revenue ₹814.19 crore, PAT ₹22.53 crore (2.76% margin)
  • FY25: Revenue ₹820.69 crore, PAT ₹25.28 crore (3.06% margin)
  • FY26: Revenue ₹1,048.33 crore, PAT ₹39.05 crore (3.69% margin)

H1 FY27 Balance Sheet Highlights:

  • Total Equity: ₹383.19 crore (Equity ₹33.40 crore + Reserves ₹349.79 crore)
  • Non-Current Liabilities: ₹39.57 crore
  • Current Liabilities: ₹188.78 crore
  • Total Liabilities: ₹611.54 crore
  • Non-Current Assets: ₹152.25 crore
  • Current Assets: ₹459.29 crore (including Inventories ₹282.19 crore, Trade Receivables ₹133.21 crore, Cash ₹12.15 crore)

H1 FY27 Cash Flow Highlights:

  • Net Cash from Operations: ₹31.01 crore
  • Net Cash from Investing: -₹0.28 crore
  • Net Cash from Financing: -₹31.62 crore
  • Net Change in Cash: -₹0.89 crore
  • Closing Cash Balance: ₹3.84 crore

Business Update & Operational Metrics

Retail Operations:

  • Total stores: 54 as of September 30, 2026
  • Retail space: 2,53,658 Sq. Ft.
  • Store expansion: Added 12 new stores in FY26, reaching 54 stores
  • Bill cuts: 58 lakh in FY26
  • Retail sales: ₹429 crore in FY26 from 50 operational stores
  • Private label contribution: 17.6% of retail revenue in Q2 FY27
  • SKUs: Over 10,000 across 38 product categories
  • Mobile app: 50,000+ downloads

Manufacturing & Processing:

  • H1 FY27 Revenue Contribution: ₹376 crore
  • Processing units: 2 + 1 Agri-Processing Cluster
  • Installed capacity: 1,50,000+ MTPA
  • Export revenue contribution: ~52% of Manufacturing & Processing revenue in Q2 FY27
  • Export markets: 35+ countries

Expansion Strategy:

  • New stores opened in Q2: 51st store in Rasayani, Raigad and 52nd store in Bapgaon, Bhiwandi
  • Finalized new locations: Ghoti (Nashik) and Mangaon/Mahad (Raigad)
  • Target: 75+ stores through cluster-based expansion

Private Label Brands:

  • Patel Fresh, Indian Chaska, Blue Nation, Patel Essentials
  • FY26 private label contribution: 17.50% of retail sales
  • Medium-term target: Over 22% contribution

Management Commentary

Mr. Dhanji Patel, Chairman & Managing Director stated: \"We are pleased with our Q2 and H1 FY27 performance, reflecting healthy business momentum. We remain confident in sustaining this growth momentum through disciplined expansion and continued focus on operational efficiency.\"

Going forward, focus remains on:

  • Expanding retail network
  • Improving capacity utilization and automation across processing facilities
  • Scaling private labels (Patel Fresh, Indian Chaska, Patel Essential)
  • Widening distribution reach of Indian Chaska across new markets
  • Exploring additional export opportunities
  • Maintaining focus on working capital efficiency and debt reduction

Company Background

Patel Retail Limited is a fast-growing, value-driven retail and FMCG company operating through two business verticals: Retail and Manufacturing & Processing. The company began in 1990 with a single grocery store in Ambernath, Maharashtra and got listed on NSE & BSE in August 2025 with an IPO of ₹242.66 crore.