Sportking Q2 FY27: PAT triples YoY to ₹96 Cr as margins expand sharply, revenue +24.5%

Sportking India's standalone Q2 FY27 net profit came in at ₹96.36 Cr, up 240.9% year-on-year from ₹28.27 Cr and 26.8% sequentially from ₹75.97 Cr, on revenue from operations of ₹781.05 Cr (+24.5% YoY, +11.0% QoQ). There is no company-specific Q2 consensus estimate on record; the closest available marker is the FY27 full-year analyst consensus of roughly ₹2,910 Cr revenue and ₹17.20 EPS — against which H1 FY27 standalone EPS of ₹13.56 already covers most of the full-year estimate, pointing to a pace running ahead of that annual consensus, though this is a directional read rather than a quarter-on-quarter beat/miss call.

The profit surge is margin-led rather than a one-off: net profit margin expanded to 12.33% from 4.45% a year ago and 10.76% last quarter, while operating margin (EBITDA/revenue) rose to 19.83% from 10.42% YoY and 18.79% QoQ. Material cost and power & fuel cost both eased as a share of revenue, and the quarter also carried a ₹8.02 Cr depreciation tailwind after the company revised the useful life of certain plant and machinery from 7.5 to 10 years (Note 4), effective prospectively from 1 July 2026 — about 8% of the quarter's reported profit, and a benefit that recurs in coming quarters rather than reversing. No exceptional items were booked in either the current or comparative periods, so the YoY jump reflects operating performance, not a low prior-year base from a one-off charge.

The stock went into the print at ₹224.11, up 5.6% over the past month of trading.

For context: this is the highest quarterly PAT in the last 6 quarters on our records; PAT has now risen for 3 consecutive quarters; revenue is at a 6-quarter high.

Against management's FY27 guidance of ₹3,000 Cr revenue (20% growth), laid out on the Q1 FY27 call, the company is broadly on track: H1 FY27 standalone revenue of ₹1,484.73 Cr needs only a similar run-rate in H2 to hit the target. The Odisha 150K-spindle project, flagged then for Q3 FY27 commissioning with a 30-40% revenue contribution targeted by Q4, has not yet shown up in this quarter's numbers. The quarter's governance news — Anjali Avasthi's transition to whole-time director (12 Sep 2026), the AGM and the routine trading-window closure — is administrative and doesn't bear on the print. No management press release accompanied this filing, so there is no company commentary to reconcile beyond the figures and notes in the results statement itself.