Eveready Q2 FY27: PAT turns positive on base effect; adjusted profit growth just ~7%

Eveready's consolidated revenue rose 10.7% YoY and 5.0% QoQ to ₹428.24 Cr, with consolidated PAT of ₹31.92 Cr (EPS ₹4.39) against a reported loss of ₹7.91 Cr a year ago. That headline swing is largely a base effect: Q2 FY26 carried a ₹37.68 Cr exceptional charge that pushed an otherwise ₹37.25 Cr pre-exceptional profit into a reported loss. Stripping that one-off out, adjusted PAT a year ago was roughly ₹29.8 Cr, so underlying PAT growth this quarter is closer to +7%, trailing the 10.7% revenue growth, and down 13.7% sequentially from Q1 FY27's ₹36.97 Cr. No analyst consensus for this specific quarter could be confirmed via search, so vs-street is marked unknown rather than inferred. Margins tell a similar story. Operating margin (EBITDA/revenue) came in at 12.55%, comfortably within management's stated 'double-digit operating margins' guidance from the Q1 FY27 call, but down sharply from Q1's 15.01% print — a sequential compression rather than the expansion the raw YoY swing might suggest. Net margin followed the same path: 7.46% this quarter versus 9.06% in Q1 FY27, and roughly flat-to-down against an adjusted ~7.7% a year ago once the exceptional charge is excluded. Cost of materials consumed stepped up to ₹180.73 Cr (42.2% of revenue) from ₹166.96 Cr in Q1, the main drag on the sequential margin give-back. On the corporate side, the Board designated Indranath Roy, currently SVP–B2C Sales with ~28 years at firms including Mondelez and RPSG Consumer, as Senior Management Personnel effective October 31, 2026 — a sales-leadership continuity move rather than a numbers-moving event. The ₹171.55 Cr CCI penalty (Competition Act contravention) remains stayed at NCLAT with 10% deposited and no provision made, an unresolved contingent liability carried over from prior quarters. The Noida Plot B2 sale (₹135.45 Cr consideration, ₹44.09 Cr advance already received) completed registration on October 13, 2026, after the reporting date, so no accounting impact shows in this quarter's results — the ₹6.09 Cr carrying value stays classified as assets held for sale as of September 30. No management press release accompanied this filing, so there is no company framing to reconcile against the numbers beyond the regulatory filing itself.