StockWatch
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KAVERI SEED COMPANY LTD.

BSE: 532899

P/L Snapshot

Q2 FY27 · standalone

vs Q1 FY27·vs Q2 FY26
Revenue
130.83
-84.0%+26.7%
Expenditure
133.33
-75.6%+13.9%
Net Profit
-3.21
-101.2%+78.7%
OPM %
4.32%
-30.19pp+11.02pp

Shareholding

Pattern breakdown

P/L Trends

(in crores)

RevenueExpenditureNet Profit
-147.46157.91463.28768.651.1KQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27Q2 FY27
Price Chart
Reports

Kaveri Seed: consolidated Q2 loss narrows 46% YoY to ₹8.8 Cr as maize demand recovers

seed industry · agri inputs · seasonal loss

ResultsQ2 FY2728 Oct 20263 minFMCG

The ₹72.5 Crore Quarter: Kaveri Seed's Overstate and Guidance Collapse

guidance-miss · revenue-discrepancy · monsoon-shock

Result verdictFollow-upQ1 FY2719 Aug 20266 minFMCG

Guidance miss masks new products; monsoon-driven miss likely structural

monsoon-shock · product-mix-shift · market-share-loss

TranscriptDeep diveQ1 FY2719 Aug 20266 minFMCG
Latest
Board Meeting28 Oct, 1:41 pm

Kaveri Seed: consolidated Q2 loss narrows 46% YoY to ₹8.8 Cr as maize demand recovers

Kaveri Seed's consolidated Q2 FY27 (quarter ended 30 Sep 2026) result was another off-season net loss, but a markedly narrower one: consolidated PAT was -₹8.78 Cr versus -₹16.20 Cr in Q2 FY26, a ~46% YoY reduction in the loss. Revenue grew 11.5% YoY to ₹244.14 Cr from ₹218.90 Cr. Sequentially the quarter reversed sharply from Q1 FY27's seasonal peak (revenue ₹742.50 Cr, PAT ₹279.84 Cr) — a 67% QoQ revenue drop and a swing from profit to loss that is routine for this business, where the bulk of kharif-season seed sales books in Q1 and Q2 typically runs near breakeven-to-loss against a thin sales base and fixed costs. Standalone (India-only) PAT was -₹3.21 Cr versus -₹15.05 Cr a year ago, confirming the consolidated trend — subsidiaries contributed the balance of the YoY revenue gain. Margins improved YoY on both counts: operating margin (EBITDA/revenue) turned marginally positive at ~0.25% versus -2.89% in Q2 FY26, and net margin (PAT/total income) improved to -3.53% from -7.21%. This tracks management's own narrative from the August concall, where it flagged a ₹40-60 Cr Karnataka maize opportunity contingent on monsoon recovery as the swing factor for Q2-Q4; Q2's ₹25.2 Cr YoY revenue gain is directionally consistent with, though doesn't fully confirm, that opportunity materialising, since the company reports a single operating segment with no product-level breakup in this filing. Against guidance the read is mixed-to-soft: the Q2 YoY recovery itself echoes what management flagged in August, but cumulative H1 FY27 revenue is still down 8.4% YoY (₹986.64 Cr vs ₹1,077.43 Cr) and H1 PAT down 12.8% YoY (₹271.06 Cr vs ₹310.96 Cr) — tracking beyond the harsher end of the "negative/low single digit" full-year growth guide management gave in August, leaving H2 to close the gap. Pre-result sell-side previews (e.g., Univest) framed the quarter around whether the operating loss would narrow versus Sep-25 rather than around a firm consensus PAT number; no specific street estimate was found, but the actual 46% YoY loss-narrowing is directionally consistent with that framing. No separate press release or management commentary accompanied this filing — the board outcome letter covered only corporate actions: a 250% (₹5/share) interim dividend for FY27, the appointment of M. Bhanu Prakash as CFO effective 28 Oct 2026, and approval to incorporate wholly-owned subsidiaries across eight countries (Tanzania, Kenya, Vietnam, Thailand, Philippines, Indonesia, Zambia, Peru) for seed registration and distribution. Separately, auditors flagged a material going-concern uncertainty at one unlisted subsidiary (accumulated loss ₹5.33 Cr, negative net worth ₹4.91 Cr) — immaterial to the consolidated numbers but worth tracking.

28 Oct 2026, 01:41 pm

Corporate Events

DividendKSCL
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6Nov

₹15 / share

BSE Filing ↗
DividendKSCL
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₹5 / share

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1Nov

₹5 / share

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Board MeetingKSCL
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Board Meeting

To consider the Standalone and Consolidated Un-audited Finan…

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To consider the Standalone and Consolidated Audited Financia…

BSE Filing ↗
DividendKSCL
2024
13Nov

₹250 / share

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Board MeetingKSCL
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Consider the Standalone and Consolidated Un-audited Financia…

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Board Meeting

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Proposal for Buyback of Equity Shares

BSE Filing ↗
DividendKSCL
2023
29Nov

₹5 / share

BSE Filing ↗
DividendKSCL
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20Nov

₹5 / share

BSE Filing ↗
Board MeetingKSCL
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8Nov

Board Meeting

Consideration of Standalone and Consolidated Un-audited Fina…

BSE Filing ↗
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Consideration and approval of Standalone and Consolidated Un…

BSE Filing ↗