Polycon Q2 FY27: Revenue falls 28%, losses continue, equity turns negative
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On the reaction day the stock moved 1.3 pts less than Nifty Microcap 250 and 2.9 pts less than its Packaging peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Polycon International reported Q2 FY26-27 revenue of Rs 277.25 lakhs, down 28% from Rs 385.7 lakhs YoY. H1 revenue fell to Rs 701.89 lakhs from Rs 821.39 lakhs. Q2 loss narrowed to Rs 89.10 lakhs from Rs 101.52 lakhs, but H1 loss widened to Rs 136.17 lakhs from Rs 127.04 lakhs. Total equity turned negative at Rs -25.56 lakhs, with other equity at Rs -569.21 lakhs. Total borrowings stand at about Rs 3,634 lakhs. Auditor SR Goyal and Co gave a clean limited review.
Negative equity and widening losses raise going concern flags. High borrowings against eroded equity significantly increase financial risk for shareholders.