Revenue rose 27.64%, but RKDL remained loss-making
Expense growth lagged revenue growth, narrowing the operating loss, but standalone net loss was still Rs 0.69 cr.
Filed 12 Nov 2026, 18:03 IST · after market close · Ravikumar Distilleries Ltd (RKDL)
Key takeaways
- Standalone revenue increased 27.64% QoQ to Rs 4.71 cr, while operating loss narrowed 45.74% to Rs 0.51 cr.
- Operating margin improved 14.52 percentage points QoQ but remained at -10.82%, as revenue growth outpaced expense growth.
- RKDL's -10.82% operating margin was 21.51 percentage points below the 10.69% median for 74 reported FMCG peers.
Price around the results
Revenue growth narrowed the operating loss
Ravikumar Distilleries reported standalone revenue growth of 27.64% QoQ to Rs 4.71 cr in Q2FY27. Expenses rose 12.74%, allowing the operating loss to narrow 45.74% to Rs 0.51 cr. The company nevertheless reported a profit-before-tax loss of Rs 0.69 cr and a net loss of Rs 0.69 cr.
Margin improved, but remained negative
Revenue grew faster than expenses, lifting operating margin by 14.52 percentage points to -10.82%. Interest expense fell 66.67% and depreciation declined 6.67%, providing some support below the operating line. Other income was negative at Rs -0.01 cr, while the 0.0% tax rate reflected the reported loss rather than a tax benefit.
RKDL remained the weakest margin performer among reported peers
RKDL's -10.82% operating margin was 21.51 percentage points below the 10.69% median for 74 FMCG peers that had reported the quarter. It ranked first from the bottom on this measure. Sequentially, the margin improved from -25.34% in Q1FY27, but remained in negative territory.
Results were filed after market close
The standalone results were filed after market close, so there is no immediate stock reaction to assess in this update. The next comparison will show whether the improvement from the Q1FY27 operating loss of Rs 0.94 cr is sustained.
Q2FY27 at a glance
Standalone figures as filed with NSE — cross-checked against an independent source.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹5 cr | ₹4 cr | +27.64% |
| Other income | ₹-0 cr | ₹1 cr | — |
| Expenses | ₹5 cr | ₹5 cr | +12.74% |
| Operating profit | ₹-1 cr | ₹-1 cr | +45.74% |
| Operating margin (%) | -10.82% | -25.34% | — |
| Interest | ₹0 cr | ₹0 cr | -66.67% |
| Depreciation | ₹0 cr | ₹0 cr | -6.67% |
| Profit before tax | ₹-1 cr | ₹0 cr | — |
| Tax | ₹0 cr | ₹0 cr | — |
| Net profit | ₹-1 cr | ₹0 cr | — |
| EPS (₹) | ₹-0.29 | ₹0.03 | — |
Operating margin of -10.82% compares with a Fast Moving Consumer Goods sector median of 10.69% across 74 peers that have reported Q2FY27.
What to watch
- Whether standalone operating margin improves from -10.82%.
- Whether expense growth remains below the 27.64% QoQ revenue growth rate.
- Whether net loss narrows from Rs 0.69 cr without support from other income.