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Our read
Butterfly Gandhimathi Appliances is likely to raise prices to rebuild its 36.2% 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.
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Price increases announced by Butterfly or its listed rivals
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How do Butterfly Gandhimathi Appliances' results compare with its rivals?The report, : Butterfly Gandhimathi Appliances Q2 FY27 revenue up 13.1% to ₹331 crore, PAT up 18.7% to ₹20 crore
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%
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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.
The source
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