Margin improves as revenue growth outpaces costs in Q2FY27
Consolidated net profit rose 12.15% sequentially, but interest cost jumped 39.04% and operating margin remained below the peer median.
Filed 02 Nov 2026, 18:24 IST · after market close · Amir Chand Jagdish Kumar (Exports) Ltd (AEROPLANE)
Key takeaways
- Consolidated operating margin rose 1.33 percentage points sequentially to 10.66% as revenue grew 4.55%, faster than expenses at 3.01%.
- Net profit increased 12.15% sequentially to Rs 41.08 cr despite a 39.04% rise in interest cost.
- Operating margin remained 1.46 percentage points below the 12.12% median for 41 reported FMCG peers.
Price around the results
Revenue growth produced operating leverage
Amir Chand Jagdish Kumar reported consolidated Q2FY27 revenue growth of 4.55% sequentially, while expenses rose 3.01%. The gap lifted operating profit by 19.47% and expanded operating margin by 1.33 percentage points to 10.66%.
Higher interest cost limited profit conversion
Interest cost rose 39.04% sequentially to Rs 19.09 cr, outpacing the 19.47% increase in operating profit and limiting pre-tax profit growth to 13.17%. The tax rate increased by 0.69 percentage points, while other income contributed only 0.95% of pre-tax profit, so net profit was not materially supported by either a tax benefit or non-operating income.
Margin recovered from Q1 but stayed below peers
Operating margin improved from 9.33% in Q1FY27 to 10.66% in Q2FY27, reversing the prior quarter's lower base. It was still 1.46 percentage points below the 12.12% median operating margin of 41 FMCG peers that had reported.
Results filed after market close
The company filed these consolidated results after market close on 02 Nov 2026. The next trading session will provide the first market response to the quarter.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹694 cr | ₹664 cr | +4.55% |
| Other income | ₹1 cr | ₹1 cr | -45.74% |
| Expenses | ₹620 cr | ₹602 cr | +3.01% |
| Operating profit | ₹74 cr | ₹62 cr | +19.47% |
| Operating margin (%) | 10.66% | 9.33% | — |
| Interest | ₹19 cr | ₹14 cr | +39.04% |
| Depreciation | ₹2 cr | ₹2 cr | +0.63% |
| Profit before tax | ₹54 cr | ₹48 cr | +13.17% |
| Tax | ₹13 cr | ₹11 cr | +16.62% |
| Net profit | ₹41 cr | ₹37 cr | +12.15% |
| EPS (₹) | ₹3.97 | ₹3.55 | +11.83% |
Operating margin of 10.66% compares with a Fast Moving Consumer Goods sector median of 12.12% across 41 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 10.66% next quarter.
- Whether interest cost eases from Rs 19.09 cr after its 39.04% sequential increase.
- Whether the 1.46 percentage-point gap to the 12.12% peer median narrows.