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Financial Results

Apis India Q2 Results: Revenue Surges to ₹114 Crore with 10% Operating Margin

Apis India Ltd reported a strong sequential top-line recovery for the quarter ended September 30, 2026, with revenue scaling to ₹114 crore. While net profit grew 32.4% quarter-on-quarter, the year-on-year performance saw a decline due to lower other income compared to the previous year.

Close-up of honey collection from honeycomb in Damascus, showcasing traditional beekeeping techniques. Stock photo illustrating Apis India's financial results story.
Photo: Baraa Obied / Pexels
Key numbers
P/E Ratio (TTM) 29.98Sector PE 29.12
Market Cap ₹740.55 CrSmall Cap
1-Year Return 28.52%Price change
RSI 52.57Neutral Zone
Results at a glance · ₹ Cr
MetricQ2-27Q1-27Q2-26
Revenue from Operations11466.092.3
Other Income2.60.97.0
Total Income11666.999.3
Profit Before Tax11.64.59.5
Net Profit4.53.47.1
Operating Margin10.0%6.7%9.6%
Net Profit QoQ+32.4%
Net Profit YoY-36.6%
Adj. Profit QoQ+150.0%
Adj. Profit YoY+260.0%

Key highlights

  • Revenue from operations rose to ₹114 crore in Q2-27, up from ₹66.0 crore in Q1-27
  • Operating margin improved to 10.0%, reflecting a recovery from 6.7% in the preceding quarter
  • Net profit reached ₹4.5 crore, marking a 32.4% sequential increase from ₹3.4 crore
  • Total income for the quarter stood at ₹116 crore compared to ₹99.3 crore in Q2-26
  • Board approved NSE direct listing application on November 4, 2026, subject to approvals

Sequential Revenue Growth and Margin Recovery

Apis India demonstrated a sharp operational uptick during the second quarter of FY27, with revenue from operations reaching ₹114 crore. This performance represents a substantial sequential increase from the ₹66.0 crore reported in the June quarter. The company also saw a meaningful expansion in its operating efficiency, as margins climbed to 10.0% from 6.7% in Q1-27.

This margin improvement supported a rise in profit before tax to ₹11.6 crore, more than doubling the ₹4.5 crore recorded in the preceding three-month period, as the company benefited from increased scale during the quarter.

Year-on-Year Profitability and Subsidiary Performance

  • Net profit of ₹4.5 crore in Q2-27 showed a 36.6% decline from ₹7.1 crore in Q2-26
  • Other income contracted to ₹2.6 crore from ₹7.0 crore in the same period last year
  • Consolidated results include subsidiaries Anantadrishti Smart India and Nature’s Family Tree Foods
  • The company operates within a single business segment focused on food and beverages
  • Total expenditure for the quarter stood at ₹104.84 crore on a consolidated basis

Strategic NSE Listing and Market Position

The company is currently pursuing a major listing milestone, with the Board of Directors approving a direct listing application for the Main Board of the National Stock Exchange on November 4, 2026. This move follows a period of steady market performance where the stock delivered a 1-year return of 28.52%. With a market capitalization of ₹740.55 crore, Apis India trades at a TTM P/E of 29.98, closely aligned with the broader industry average.

Promoters maintain a high degree of control with a 74.72% stake, all of which remains unpledged as of the September quarter filing.

Apis India · share price, past month
Recent quarters and guidance
DateAnnouncementAmount
27 Oct 2026Q1 FY27 consolidated net profitSource: scanx.trade₹3.39 Cr
30 May 2026Q4 FY26 consolidated net profitSource: scanx.trade₹10.35 Cr
13 Feb 2026Q3 FY26 consolidated net profitSource: hdfcsec.com₹3.88 Cr
14 Nov 2025Q2 FY26 consolidated net profitSource: investorfeed.in₹7.08 Cr
14 Aug 2025Q1 FY26 consolidated net profitSource: scanx.trade₹2.53 Cr
30 May 2025Q4 FY25 consolidated net profitSource: blinkx.in₹8.13 Cr

What to watch next

  • Final regulatory and exchange approvals for the direct listing on the NSE, expected late 2026
  • Q3 FY27 quarterly financial results announcement scheduled for February 2027
  • Progress toward the previously targeted annual revenue milestone of ₹500 crore
Apis India · financial snapshot
Share price₹53.76
Market capitalisation₹740.55 Cr
Revenue (annual)₹390.51 Cr
Net profit (annual)₹25.32 Cr
Revenue (latest quarter)₹65.96 Cr-32.61% vs previous quarter
Net profit (latest quarter)₹3.39 Cr-67.26% vs previous quarter
P/E (TTM)29.98×Sector 29.12×
Promoter holding74.72%0.00% QoQ
FII holding0%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.

Source verified

Exchange filing by Apis India Ltd announcing the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. Market figures from a third-party data provider.

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