Patanjali Foods Limited (PATANJALI) Q2 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

Patanjali Foods Limited Q2 Results Date and Time

Per the November 11 board-meeting intimation, the board is scheduled to meet on Saturday, Nov 14, 2026 to approve the unaudited standalone and consolidated financial results for the quarter and half-year ended Sep 30, 2026, along with the statutory auditors' limited review report. The trading window remains closed until 48 hours after the declaration of results.

The Q2 and H1 FY27 earnings call is scheduled for Nov 14, 2026 at 3:00 PM IST. Participants include CEO Sanjeev Asthana, CFO Kumar Rajesh and IR head Priyendu Jha. The company has stated no price-sensitive information will be discussed on the call.

What to expect from Patanjali Foods Limited's Q2 FY27 results

The quarter's central question is whether the price-led momentum that produced a fourth consecutive record revenue quarter in Q1 FY27 (Rs. 11,337.45 Cr, +29% YoY) continued into Q2, as management expected when it said the positive run "should pretty much continue into Q2 also."

The commodity backdrop supported a price-led print for most of the window — the FAO vegetable oil price index rose 2% MoM in July 2026 and a further 0.6% in August to its highest level since June 2022, with landed crude sunflower oil averaging $1,496/tonne CIF in August, up 18.4% YoY — and the company carries long positions in edible oils, which management has called a net positive.

The twist came late: the government cut basic customs duty on crude palm and crude soybean oil from 10% to 5% effective Sep 24, 2026, with the Food Ministry advising companies to pass on the full benefit through MRP cuts, compressing the margin tailwind at quarter-end just as quarter-end mark-to-market pricing on edible oil inventory (a company-flagged distortion) kicks in.

On volumes, the industry read softened — overall FMCG volume growth decelerated to 3.6% in Jul-Sep 2026 from 4.7% a year earlier — a headwind for biscuits, staples and HPC, though the company's e-commerce channel now contributes ~35% of total channel revenue per the Nov 6 business update.

Cost pressure is visible in the FMCG basket: multiple milk price hikes across July-September (Maharashtra raised cow/buffalo milk Rs. 2/L from Aug 11) pressure ghee margins into the festival build, and Q1 FY27 FMCG EBIT margin had already compressed to 5.91% from 8.76% in Q1 FY26.

Management reaffirmed its FY27 guidance on the Q1 call — edible oil margin construct of 3% to 5%, food and FMCG growth of 8% to 10%, HPC around 15% and FMCG EBITDA growth of 12% to 15% — and the upcoming call will test how much of Q1's 5.22% edible oil EBITDA margin survived the duty cut and pass-through push.

Key Things To Watch

Guidance scorecard for FY27: Status of the guidance set on the Q1 FY27 call (Aug 17, 2026):

• Overall revenue growth 10-12% — Q1 revenue grew 29%; watch whether price-led growth persists against the Rs. 9,798.84 Cr Q2 FY26 base
• Edible oil EBITDA margin 3-5% — Q1 actual of 5.22% printed above the top of the band; reconcile with the "2% to 4%" Q&A remark and the Q4 FY26 "slightly below 4%" framing
• FMCG revenue toward INR 12,500 crores — implies ~13.6% growth on the stated INR 11,000 crores-plus base; FMCG EBITDA growth guided at 12-15% and HPC growth around 15%
• Edible oil volume growth 3-5% — against a FY26 base of 20.3 lakh tons and a Q2 FY26 YoY volume decline of 7%
• EBITDA of approximately INR 2,500 crores annualized; modern trade + e-commerce + quick-commerce at 20% of revenue — Nov 6 update: e-commerce ~35% of channel revenue, institutional business +50% YoY

Foods recovery, staples markdown and HPC margins

• Staples posted negative EBITDA of INR 59 crores in Q1 FY27 with an inventory markdown for pulses quality issues — ask for the undisclosed quantum and normalization path
• HPC margin sustainability: 27.7% in Q2 FY26 was flagged by management as high versus a stated regular range of 18-20%; Q1 FY27 HPC EBITDA was INR 122 crores on INR 629 crores revenue
• Ghee trajectory into the festival build against milk-cost inflation flagged through July-September 2026

Food-safety orders and regulatory overhang

• Four food-safety regulatory orders between Sep and Nov 2026 hit Cow Ghee and Sunrich Sunflower Oil — Thiruvananthapuram prohibition (Sep 21) on one Sunrich batch for TBHQ above limits, Burhanpur recall (Oct 23) and Chhindwara prohibition (Oct 29) on Cow Ghee batches, and FDA Maharashtra's Nov 3 restriction on Cow Ghee stock at a super distributor
• Status of appeals and retesting, and any financial quantification beyond affected batch values — the company states no material financial impact beyond batch values

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Frequently Asked Questions

Why did Patanjali Foods' FY26 PAT rise despite lower EBITDA?

FY26 PAT of Rs. 1,814.87 Cr grew 39.50% even as EBITDA (ex-exceptional) fell 7% to Rs. 1,931.52 Cr, because PAT was boosted by tax refunds of near about INR 788 crores following completion of assessments post-CIRP, including INR 330 crores received in Q4 FY26. The CFO explained the refunds relate to prior years.

What is Patanjali Foods' edible oil EBITDA margin guidance for FY27?

Management guided edible oil EBITDA margin at 3% to 5% for FY27 in its opening remarks, though in the same call's Q&A it also stated "our edible oil between 2% and 4%" — a narrower band that needs reconciling on the upcoming call. Q1 FY27's actual margin of 5.22% printed above the top of the 3-5% band.

How much did Patanjali Foods pay for the HPC acquisition and what does it earn?

The home and personal care business was acquired from Patanjali Ayurved for INR 1,100 crores on a slump sale basis, with management defending the price as less than 18-19 months of the target's profitability. The business generated INR 600 crores EBITDA on INR 2,900 crores revenue in the prior year and was integrated on Nov 1, 2024.

Is Patanjali Foods on track with its FY27 revenue growth guidance?

The FY27 guidance is overall revenue growth of 10% to 12%, and Q1 FY27 revenue grew 29% YoY to Rs. 11,337.45 Cr — the fourth consecutive highest-ever quarterly revenue. Management reaffirmed the full-year guidance range on the Q1 call, while noting growth is currently price-led.