K.P.R. Mill is a vertically integrated textile maker — yarn, fabric, garments, sugar and ethanol — exporting to over 65 countries, and this quarter tests whether its low-cost cotton inventory buffer keeps margins expanding after Q1 FY27's 20.8% EBITDA margin. The print will speak most loudly to ethanol momentum (Q1 FY27 sales of Rs. 212 Cr, up 130.43% YoY) and execution of the newly approved Rs. 1,225 Crore, 7-project expansion plan.
| Results date | October 28, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 1,935.52 Cr |
| Previous quarter PAT | Rs. 258.54 Cr |
| Previous quarter EBITDA margin | 20.8% |
| Market cap | Rs. 35,022.26 Cr |
| CMP | Rs. 1,024.6 |
As per the board-meeting intimation filed on 16-Oct-2026, the Board of Directors will meet on Wednesday, 28-Oct-2026 at 10:30 A.M. at the Corporate Office, Avinashi Road, Coimbatore, to consider the un-audited financial results for the quarter/half-year ended 30-Sep-2026.
Shareholders have already received the FY 2025-26 final dividend of 250% (Rs. 2.50 per equity share of Rs. 1 face value), approved as an ordinary resolution at the 23rd AGM held on 29-Jul-2026. This took the aggregate FY 2025-26 dividend to 500% (interim 250% plus final 250%).
The quarter's central question is whether the low-cost cotton inventory buffer that drove Q1 FY27's 20.8% EBITDA margin (160 bps above Q1 FY26's 19.2%) continues to work, after cotton firmed roughly 15-20% from early July to the end-August ICE peak near 93 cents/lb before easing to about 80.13 cents/lb by 29-Sep. Ethanol is the swing factor: Q1 FY27 ethanol sales of Rs. 212 Cr (+130.43% YoY) and 323.45 Lakh Litres (+120.81%) ran well above FY26's full-year Rs. 478 Cr, and Q2 sits inside the favourable ESY 2025-26 pricing window, though the 16-Oct-2026 ESY 2026-27 tender bars sugar-based ethanol and cuts the maize price to Rs. 68.86/L from Rs. 71.86/L from November 2026. On exports, the tariff backdrop is materially lighter than a year ago — the 50% IEEPA tariffs ended 24-Feb-2026 and a 10% Section 301 duty applies from 24-Jul-2026 — but North America's export share had already fallen to 15.7% in FY26 from 21.0% in FY25, while Europe holds 63.1% of exports. Management's only quantified commitment is the Rs. 1,225 Crore, 7-project expansion approved 10-Aug-2026 with around Rs. 2,000 Crores of expected turnover funded entirely through internal accruals, and the call is likely to centre on execution of that plan alongside the margin and ethanol trajectory.
Capex execution vs stated timelines: The Rs. 1,225 Crore, 7-project expansion-cum-modernization plan was approved on 10-Aug-2026, inside the quarter under review.
Margin trajectory and cotton inventory buffer
Ethanol momentum and policy shift
Garment growth and yarn realizations
Export mix and balance sheet deployment
Yes — Q1 FY27 consolidated revenue from operations rose 9.58% YoY to Rs. 1,935.52 Cr, with PAT up 21.55% YoY to Rs. 258.54 Cr. Growth was led by the garments segment (FY26 sales Rs. 3,179 Cr, +8.72%) and a sharp jump in ethanol sales to Rs. 212 Cr in Q1 FY27.
Approved by the Board on 10-Aug-2026, it covers seven projects across the textile value chain — three greenfield and four modernization-cum-expansion — with expected turnover of around Rs. 2,000 Crores. The entire capex is to be funded through internal accruals, with completions phased from Q3 FY27 to Q2 FY28.
Ethanol sales value jumped to Rs. 212 Cr in Q1 FY27 from Rs. 92 Cr a year earlier (+130.43% YoY), on volume of 323.45 Lakh Litres. For full FY26, ethanol sales were Rs. 478 Cr, and the company operates 470 KLPD ethanol capacity in Karnataka.