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Butterfly Gandhimathi Appliances Q2 FY27 revenue up 13.1% to ₹331 crore, PAT up 18.7% to ₹20 crore
Our read
Butterfly Gandhimathi Appliances will more likely than not keep double-digit revenue growth into H2 FY27 while using price increases to recover material margin.
For operators
Butterfly Gandhimathi's retail channels posted their highest-ever quarterly revenue in Q2 FY27 (quarter ended 30 September 2026), which shows steady home appliance demand, though a 160 basis point material margin fall to 36.2% on commodity inflation could bring supplier price pressure.
Watch
Price increases announced by Butterfly or its listed rivals
Ask next
The report,
Butterfly Gandhimathi Appliances saw material margin fall 160 basis points to 36.2% on commodity inflation, even as its retail channels posted their highest ever quarterly revenue. The company announced the quarter's results on 15 October 2026.
- Revenue
- ₹331 crore
- up 13.1% year-on-year
- EBITDA
- ₹32 crore
- PAT
- ₹20 crore
- up 18.7%
- Material margin
- 36.2%
Reported figures
From the report. Source details below
| Q2 FY27 EBITDA: | ₹32 crore |
|---|---|
| H1 FY27 revenue: | ₹545 crore |
| H1 FY27 PAT: | ₹29 crore |
What to watch next
- Material margin above Q2's 36.2% in the Q3 FY27 results would mean price increases are offsetting commodity inflation and the 160 bps squeeze is easing.
- Commodity input cost trend through Q3 FY27
- Retail channel revenue against Q2's record in the Q3 FY27 results
- EBITDA against Q2's ₹32 crore at the Q3 FY27 results
Likely next moves
Our read of what comes next — analysis, not reported by the source.
- Butterfly Gandhimathi Appliances is likely to raise list prices on selected products to recover the 160 bps fall in material margin.
- Expect Butterfly Gandhimathi Appliances to keep expanding retail channels after their highest-ever quarterly revenue.
- Rivals such as TTK Prestige may match price increases if commodity inflation persists, which would limit discounting in the category.
- Butterfly Gandhimathi Appliances may renegotiate with suppliers or shift its sourcing mix to offset higher input costs.
- Analysts are likely to focus on whether the 18.7% PAT growth can hold when material margin is shrinking.