Gokul Agro Resources LimitedQ2 FY27 Results & Financial Update

Gokul Agro Resources Limited: Q2 FY27 consolidated results and company financials – revenue ₹7,481.02 Cr, PAT ₹146.20 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.

NSE: GOKULAGROPublished 28 Oct 2026Updated 28 Oct 2026~6 min read
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Revenue from operations₹7,481.02 CrReported Q2 FY27
Profit after tax₹146.20 CrReported Q2 FY27
Sequential change+19.2%Quarter-on-quarter

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Quarterly Results AnalysisExplore Gokul Agro Resources Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.

Quarter overview

Quarterly earnings analysis

01

Gokul Agro Resources reported consolidated revenue from operations of Rs. 7,481.02 crore for the second quarter of fiscal 2027, marking an increase of 41.63% sequentially compared to Rs. 5,281.95 crore in Q1 FY27.

02

Total consolidated income for the quarter stood at Rs. 7,492.24 crore, expanding from Rs. 5,295.01 crore in the preceding quarter.

03

Profit Before Tax (PBT) for Q2 FY27 reached Rs. 195.37 crore, representing a sequential growth of 23.40% over Rs. 158.32 crore recorded in Q1 FY27.

04

Net Profit After Tax (PAT) for the quarter stood at Rs. 146.20 crore, compared to Rs. 122.64 crore in the previous quarter, translating to a sequential increase of 19.22%.

05

Basic and diluted earnings per share (EPS) for the quarter rose to Rs. 4.95 from Rs. 4.16 reported in the June 2026 quarter.

06

The pat margin for the quarter was 1.95%, compared to 2.32% in the preceding quarter, reflecting a compression of approximately 36.75 basis points as top-line expansion outpaced net earnings growth.

07

Total comprehensive income for the quarter was reported at Rs. 150.33 crore after accounting for foreign currency translation gains of Rs. 19.04 crore and other adjustments.

01 · Business model

What does Gokul Agro Resources do?

Gokul Agro Resources Limited is engaged primarily in the agro-commodities sector, specializing in the processing, refining, and trading of edible oils, oilseeds, and allied agricultural products.

The company's operational footprint includes major manufacturing and refining facilities located in Gujarat, Karnataka, Andhra Pradesh, and West Bengal, catering to both domestic consumption and export markets.

The economic and operating model relies heavily on high-volume commodity processing, efficient global sourcing of raw oils and agricultural raw materials, and effective management of working capital and foreign exchange exposure.

02 · Historical context

What shaped the business before this quarter

Business evolution

Earlier, the company established a renewable power capacity base of 28.79 MWp across its manufacturing locations, which has been operating at 100% capacity utilization.

Recent trajectory

Previously, the group expanded its geographical and processing footprint through subsidiaries and step-down entities such as Riya Agro Industries, Maurigo PTE Limited, and Riya International PTE Limited.

03 · Financial snapshot

Current quarter vs the available comparable

MetricQ2 FY27Previous quarter
Revenue from operations₹7,481.02 Cr₹5,281.95 Cr
Total income₹7,492.24 Cr₹5,295.01 Cr
Profit before tax₹195.37 Cr₹158.32 Cr
Profit after tax₹146.20 Cr₹122.64 Cr
EPS₹4.95₹4.16

Financial interpretation

What the reported numbers mean

Profit conversion

Profit after tax represented 2.0% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.

Pre-tax earnings

Profit before tax was equivalent to 2.6% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.

Operating revenue versus total income

Total income exceeded operating revenue by ₹11.21 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.

Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.

04 · Why it moved

Why the quarter looked the way it did

What drove revenue

Sequential Volume and Processing Expansion

Revenue from operations expanded by 41.63% QoQ to reach Rs. 7,481.02 crore, driven by higher processing volumes and strong off-take across core agro-commodity lines.

What drove margins

Cost of Materials and Input Pressures

Cost of materials consumed stood at Rs. 4,794.12 crore alongside purchases of stock-in-trade worth Rs. 2,204.42 crore, reflecting the scale of raw material inputs required for refining operations.

Finance Costs and Interest Outflow

Finance costs increased to Rs. 65.56 crore during the quarter compared to Rs. 44.20 crore in Q1 FY27, reflecting working capital financing requirements.

05 · Segments, products & geography

Which parts of the business are doing the work

Segments and products

Single Segment Classification

The company confirmed that it is primarily engaged in agro-based commodities and operates under a single reportable segment under Ind AS 108, 'Operating Segments'.

06 · Capacity, projects & execution

What is being built, commissioned or delivered

Capacity, production and utilisation

Existing Renewable Capacity Utilization

The company's existing renewable power capacity of 28.79 MWp operated at 100% utilization during the period.

Projects, capex and execution

Solar Power Project Expansion

The Board approved the installation of an additional solar power project aggregating to 14.0 MWp at a total capital outlay of approximately Rs. 38 crore plus applicable taxes. The addition comprises 10 MWp at the Gandhidham plant in Gujarat and 4 MWp at the Mangalore plant in Karnataka.

Project Timeline and Financing

The proposed solar capacity addition is slated for completion within 12 months and will be funded through internal accruals to improve energy reliability and lower power costs.

07 · Strategy & new businesses

How the company is trying to change its growth mix

ESOP Plan 2025 Implementation

The Nomination & Remuneration Committee granted 8,47,800 stock options to eligible employees under the Gokul- Employee Stock Option Plan 2025 at an exercise price of Rs. 50 per option, with vesting scheduled between one and five years.

08 · Reported developments

What changed operationally

Sequential Profit Growth

Consolidated Net Profit After Tax grew by 19.22% sequentially to reach Rs. 146.20 crore for Q2 FY27.

ESG and Cost-Saving Initiatives

Approval of the 14 MWp captive solar power expansion aims to enhance energy reliability, support sustainability goals, and reduce power costs over the next 12 months.

09 · Items worth noticing

The line items that can distort a quick read

Provisions Recorded

The company reported provisions of Rs. 19.98 crore for the current quarter.

10 · Cash flow & balance sheet

Profit is one thing. Cash and funding tell another part of the story.

Operating cash flow₹127.57 CrH1 FY27
Capital expenditure₹147.59 CrH1 FY27
Free cash flow₹-20.02 CrH1 FY27
Half-Year Operating Cash Flows

For the half year ended September 30, 2026, net cash generated from operating activities stood at Rs. 127.57 crore, supported by operating profit before working capital changes of Rs. 474.44 crore.

Investing and Financing Cash Flows

Net cash used in investing activities for the half year was Rs. 56.45 crore, which included fixed asset purchases of Rs. 147.59 crore. Net cash used in financing activities was Rs. 89.88 crore.

11 · Beyond the numbers

What changed beyond the numbers

Reported update

Statutory Auditor Review

The financial results were subjected to a limited review by statutory auditors Pipara & Co LLP, who issued an unmodified conclusion on the consolidated and standalone statements.

12 · Previous-quarter changes

What changed since the previous quarter

Sequential Top-Line Growth

Revenue from operations expanded by 41.63% from Rs. 5,281.95 crore in Q1 FY27 to Rs. 7,481.02 crore in Q2 FY27.

13 · Key Q&A

The quarter, answered directly

What does Gokul Agro Resources do?

Gokul Agro Resources Limited is engaged primarily in the agro-commodities sector, specializing in the processing, refining, and trading of edible oils, oilseeds, and allied agricultural products.

What is the clearest takeaway from Q2 FY27?

Gokul Agro Resources reported consolidated revenue from operations of Rs. 7,481.02 crore for the second quarter of fiscal 2027, marking an increase of 41.63% sequentially compared to Rs. 5,281.95 crore in Q1 FY27.

What drove revenue or demand?

Revenue from operations expanded by 41.63% QoQ to reach Rs. 7,481.02 crore, driven by higher processing volumes and strong off-take across core agro-commodity lines.

What mattered most for margins or profitability?

Cost of materials consumed stood at Rs. 4,794.12 crore alongside purchases of stock-in-trade worth Rs. 2,204.42 crore, reflecting the scale of raw material inputs required for refining operations.

What changed operationally beyond the headline numbers?

The company's existing renewable power capacity of 28.79 MWp operated at 100% utilization during the period.

What should the next disclosure help confirm?

Progress on the 14 MWp solar power installation across the Gandhidham and Mangalore plants over the next 12 months.

14 · Scenario calculator

Earnings sensitivity: what if growth and margins change?

Starting point

Build your own next-quarter scenario

Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.

Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.

Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%

The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.

15 · Next filing checkpoints

What the next disclosure can confirm or change

  1. 01

    Solar Project Execution: Progress on the 14 MWp solar power installation across the Gandhidham and Mangalore plants over the next 12 months.

  2. 02

    Working Capital and Finance Cost Trends: Evolution of finance costs relative to top-line scaling and commodity inventory cycles.

Learn the metrics

Need the concepts first?

Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.

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