Kross Q2 FY27: standalone PAT up 143% YoY to ₹19.7 Cr as margins expand toward guided range

Kross Limited's standalone revenue from operations for Q2 FY27 (quarter ended September 30, 2026) came in at ₹235.09 Cr, up 79.6% YoY from ₹130.92 Cr and 27.5% QoQ from ₹184.34 Cr. Net profit rose even faster, up 143.5% YoY to ₹19.69 Cr from ₹8.09 Cr, and 47.9% QoQ from ₹13.31 Cr, taking basic EPS to ₹3.08 (not annualised) from ₹1.25 a year ago and ₹2.06 last quarter. The company has no subsidiaries, so this standalone print is also the only set of numbers — there is no consolidated divergence to reconcile.

The profit growth outpaced revenue because margins expanded on both counts: operating margin (EBITDA/revenue) rose to roughly 13.9% from about 12.1% a year ago and 12.4% last quarter, while net margin widened to 8.37% from 6.13% YoY and 7.21% QoQ. This directly validates what management flagged on the Q1 FY27 call — that the 12.2% EBITDA margin delivered in Q1, below its 14-15% guided band, was a commodity-cost lag that would reverse as pass-through kicked in from Q2 onward. The margin did move up sequentially as promised, though at ~13.9% it is still short of the top of the guided range, so the pass-through appears to be working but isn't fully complete.

The stock went into the print at ₹272, up 20.4% over the past month of trading.

For context: this is the second-highest quarterly PAT of the last 6 quarters; revenue is at a 6-quarter high.

On growth, the quarter runs far ahead of the only formal marker on record: management's reaffirmed FY27 target of ~22% growth, made on the back of Q1's in-line performance. H1 FY27 revenue of ₹419.43 Cr is up 55.2% YoY and H1 PAT of ₹33.16 Cr is up 76.6% YoY — both multiples of the stated target, making this a clear beat on guidance even as the margin trajectory is only now catching up. No formal sell-side consensus for this specific quarter could be confirmed; the closest available marker, an independent pre-earnings preview, had flagged whether revenue could sustain near the ₹225 Cr peak seen in March 2026 and whether OPM could hold in the mid-teens — the actual ₹235 Cr print tops that prior peak and OPM of ~13.9% sits just under the mid-teens bar, which reads as a beat on the informal expectation set. No separate management press release accompanied this filing, so there is no additional management commentary to cross-check against the print beyond the board outcome letter and notes.