Expenses outpaced revenue, pushing Kridhan Infra deeper into operating loss
Revenue grew 50.00% sequentially, but the operating margin fell to -26.40%; other income of Rs 0.44 cr did not prevent a net loss.
Filed 13 Nov 2026, 20:29 IST · after market close · Kridhan Infra Ltd (KRIDHANINF)
Key takeaways
- Revenue rose 50.00% sequentially, but expenses grew 62.50%, widening the operating loss to Rs 0.33 cr.
- Operating margin fell 9.5 percentage points to -26.40%, despite interest expense declining 31.82%.
- The consolidated operating margin was 37.86 percentage points below the Industrials median across 267 reported peers.
Price around the results
Revenue growth did not cover the cost increase
Kridhan Infra's consolidated revenue rose 50.00% sequentially to Rs 1.23 cr, but expenses increased faster at 62.50% to Rs 1.56 cr. That mismatch pushed operating profit from a Rs 0.14 cr loss in Q1FY27 to a Rs 0.33 cr loss in Q2FY27. Profit before tax moved from Rs 0.04 cr to a Rs 0.11 cr loss.
Margin fell despite lower interest cost
Operating margin narrowed by 9.5 percentage points to -26.40% because costs grew faster than revenue. Interest expense fell 31.82% sequentially, but depreciation rose 40.00%, and the operating loss remained the main drag. Other income of Rs 0.44 cr was equivalent to -400.00% of pre-tax profit because pre-tax profit was negative, so it did not translate into positive net profit.
Kridhan ranked near the bottom of reporting Industrials peers
Among 267 Industrials companies that had reported the same quarter, Kridhan Infra's -26.40% operating margin was 37.86 percentage points below the sector median of 11.46%. It ranked fifth from the bottom on this measure. The quarter marked a sequential deterioration from the -16.90% operating margin reported in Q1FY27.
Results were filed after market close
The consolidated results were filed after market close on 13 November 2026. There is no post-results stock reaction to assess yet.
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 | ₹1 cr | ₹1 cr | +50.00% |
| Other income | ₹0 cr | ₹0 cr | -2.22% |
| Expenses | ₹2 cr | ₹1 cr | +62.50% |
| Operating profit | ₹-0 cr | ₹-0 cr | -135.71% |
| Operating margin (%) | -26.40% | -16.90% | — |
| Interest | ₹0 cr | ₹0 cr | -31.82% |
| Depreciation | ₹0 cr | ₹0 cr | +40.00% |
| Profit before tax | ₹-0 cr | ₹0 cr | — |
| Tax | ₹0 cr | ₹0 cr | — |
| Net profit | ₹-0 cr | ₹0 cr | — |
| EPS (₹) | ₹-0.01 | ₹0.00 | — |
Operating margin of -26.40% compares with a Industrials sector median of 11.46% across 267 peers that have reported Q2FY27.
What to watch
- Whether operating margin improves from -26.40% toward the Q1FY27 level of -16.90%.
- Whether revenue growth outpaces the 62.50% sequential rise in expenses.
- Whether other income remains near Rs 0.44 cr without masking operating losses.