Krishival Foods Q2 EBITDA rises 64%, margin expands to 16%

Krishival Foods Limited reported consolidated EBITDA of Rs 13.87 crore for Q2 FY27, up 64% year on year, while EBITDA margin expanded to 16% from 12% as revenue from operations rose 28% to Rs 85.66 crore in the quarter ended September 30, 2026. Operating-profit growth exceeded revenue growth in the reported period.

How did Krishival Foods perform in Q2 FY27?

Krishival Foods reported Q2 FY27 total income of Rs 88.62 crore, up 29% from Rs 68.89 crore in Q2 FY26, while revenue from operations increased by Rs 18.99 crore to Rs 85.66 crore. EBITDA, or earnings before interest, tax, depreciation and amortisation, rose by Rs 5.43 crore to Rs 13.87 crore; the company said this measure excludes interest income.

Krishival Foods' EBITDA grew 64%, compared with 28% growth in revenue from operations, lifting the reported margin by 4 percentage points to 16%. Net profit rose 18% to Rs 6.82 crore from Rs 5.80 crore, while net profit margin was 8% in both Q2 FY27 and Q2 FY26.

Chairman and Whole-Time Director Sujit Bangar said the Q2 margin expansion reflected operating leverage from the expanding business platform and progress in strengthening profitability. His commentary compared the 16% Q2 FY27 EBITDA margin with 12% a year earlier, rather than attributing it to a separately quantified cost item.

What did Krishival Foods report for the first half?

Krishival Foods reported H1 FY27 revenue from operations of Rs 174.62 crore, up 50% from Rs 116.19 crore in H1 FY26, and EBITDA of Rs 24.56 crore, up 63% from Rs 15.10 crore. Its H1 EBITDA margin increased to 14% from 13% in the corresponding half year.

Total income for H1 FY27 rose 48% to Rs 178.67 crore from Rs 120.71 crore, while net profit increased 22% to Rs 12.42 crore from Rs 10.20 crore. Net profit margin declined to 7% from 9%, even as the reported EBITDA margin improved by 1 percentage point.

The H1 revenue growth rate of 50% was higher than Q2's 28%, whereas EBITDA growth was broadly similar at 63% in H1 and 64% in Q2. The 14% H1 EBITDA margin was 2 percentage points below the Q2 margin of 16%, meaning the second-quarter margin exceeded the first-half average.

Which Krishival Foods division drove quarterly growth?

Krishival Foods' Melt N Mellow ice cream division delivered the faster Q2 FY27 revenue growth, with revenue rising 65% to Rs 22.50 crore from Rs 13.62 crore in the chairman's commentary. The larger healthy snacks division, sold under the Krishival Nuts brand, recorded revenue of Rs 63.16 crore, up 19% from Rs 53.03 crore.

Healthy snacks EBITDA increased 33% to Rs 10.44 crore from Rs 7.86 crore, and its EBITDA margin improved to 17% from 15%. Melt N Mellow EBITDA was stated as Rs 3.54 crore, up 557% from Rs 0.54 crore, with its margin reaching 16% from 4%, according to the chairman's commentary.

Krishival Foods' segment highlights contain a small difference in the ice cream figures, listing EBITDA of Rs 3.53 crore against Rs 0.53 crore a year earlier and growth of 566%. Both disclosures identify the same 16% Q2 FY27 ice cream margin and 4% Q2 FY26 margin, while management cited scale-up and operating efficiencies as drivers of the improvement.

What operating expansion did Krishival Foods disclose?

Krishival Foods disclosed more than 35,000 retail touchpoints for Melt N Mellow and more than 11,000 for Krishival Nuts. It placed 1,472 deep freezers during Q2 FY27, taking the installed freezer base to 18,752 units to support its ice cream distribution and cold-chain network.

Melt N Mellow expanded to more than 205 distributors with a disclosed distribution retention rate of 95%, supported by 13 company depots in Maharashtra, Karnataka, Goa, Telangana and Andhra Pradesh. The division also entered Tamil Nadu, covering Vellore, Hosur, Erode, Tiruvannamalai, Salem and adjoining areas.

Krishival Foods said it had secured the location for its first Mellow & Co outlet at Apte Road, Deccan, Shivaji Nagar in Pune and that the outlet would be inaugurated soon. In healthy snacks, Krishival Nuts continued shipments to Singapore during Q2 FY27, while management identified premiumisation, product innovation, sourcing and channel expansion as areas of focus.

What are Krishival Foods' stated FY27 priorities?

Krishival Foods plans to launch 25 franchise-owned, company-operated, or FOCO, Mellow & Co ice cream outlets in FY27. Management also plans further deep-freezer deployment, wider Melt N Mellow retail reach and higher capacity utilisation as part of its ice cream expansion programme.

Management identified expansion in Tier II and Tier III markets, a greater presence in key states, and wider participation in modern trade and quick-commerce platforms as priorities. Its stated export focus covers Singapore, the United States and Japan, while the nuts business is to advance capacity expansion for future demand.

Krishival Foods also plans to invest in manufacturing and supply-chain capabilities while pursuing operational efficiencies and supply-chain integration. These are management plans rather than completed results, and future disclosures can show whether they coincide with sustained growth beyond H1 FY27 revenue of Rs 174.62 crore and EBITDA of Rs 24.56 crore.

Conclusion

Krishival Foods reported operating-profit growth faster than revenue growth in Q2 FY27, with EBITDA rising 64% to Rs 13.87 crore and margin reaching 16%. Healthy snacks remained the larger contributor, generating Rs 10.44 crore of EBITDA at a 17% margin, while Melt N Mellow produced faster revenue growth of 65% and a reported 16% margin.

The next disclosed milestones are the planned inauguration of the first Pune Mellow & Co outlet and the FY27 target of 25 FOCO outlets. Management's continued rollout of deep freezers, distributors, capacity and retail coverage will be the principal disclosed measures to watch alongside subsequent revenue and EBITDA updates.