ADITYA FORGE Q2 FY27 results: net loss widens to ₹0.41 crore

How did ADITYA FORGE perform in Q2 FY27?

ADITYA FORGE reported standalone revenue of ₹0 crore for Q2 FY27, unchanged from Q2 FY26 and Q1 FY27. Total expenses were ₹0.41 crore, resulting in an EBITDA loss of ₹0.41 crore, while the EBITDA margin was not reported. The company reported a profit before tax loss of ₹0.41 crore and a net loss of ₹0.41 crore.

Against Q2 FY26, the EBITDA loss widened by ₹0.39 crore, the profit before tax loss widened by ₹0.39 crore, and the net loss widened by ₹0.39 crore. Basic EPS fell from ₹-0.04 to ₹-0.96, a difference of ₹0.92. Against Q1 FY27, the corresponding EBITDA and net losses widened by ₹0.40 crore, while basic EPS fell by ₹0.93 from ₹-0.03.

The results are presented on a standalone basis. The company said in the filing that the corresponding previous periods had been restated or regrouped where necessary for comparison, and that it had one segment, with no separate reportable segment under Ind AS 108.

What changed in ADITYA FORGE's costs and profit?

The main movement was in other expenses, which rose to ₹0.41 crore from ₹0.02 crore in Q2 FY26, a difference of ₹0.39 crore and an increase of 1950.0%. Total expenses rose by the same ₹0.39 crore, with no change in cost of materials, employee cost, finance costs or depreciation. Other income remained at ₹0 crore, and there was no exceptional item.

Tax expense was ₹0 crore in Q2 FY27, unchanged from Q2 FY26. With no other income and higher other expenses, the reported loss before tax was ₹0.41 crore, compared with ₹0.02 crore in Q2 FY26. The filing states the cost-line changes but does not state a reason for the increase in other expenses.

How did the first half of FY27 go?

For the first half of FY27, ADITYA FORGE reported revenue of ₹0 crore and total income of ₹0 crore, both unchanged from H1 FY26. Profit before tax and profit after tax were each a loss of ₹0.43 crore, compared with a loss of ₹0.06 crore in H1 FY26. Basic EPS was ₹-1.00 for H1 FY27 against ₹-0.15 for H1 FY26.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹1.30 crore, compared with ₹1.39 crore at 31 March 2026. Total equity was negative ₹3.84 crore, compared with negative ₹3.41 crore, while borrowings were ₹4.07 crore against ₹3.72 crore. Cash and cash equivalents were ₹0 crore against ₹0.01 crore; the filing separately reports bank balances other than cash of ₹0.74 crore.

How has ADITYA FORGE done over the last 5 quarters?

The recent quarterly pattern shows revenue at ₹0 crore in each of the five quarters from Q2 FY26 to Q2 FY27. Profit after tax was a loss of ₹0.02 crore in Q2 FY26, a loss of ₹0.02 crore in Q3 FY26, a profit of ₹0.21 crore in Q4 FY26, a loss of ₹0.01 crore in Q1 FY27 and a loss of ₹0.41 crore in Q2 FY27. The latest quarter therefore followed the prior quarter’s loss with a wider loss, while the highest quarterly profit in the series was reported in Q4 FY26. EBITDA margins were not available for the period, so no margin peak or trough is reported.

What did the auditors point out?

The statutory auditors conducted a limited review of the unaudited interim standalone financial results for the quarter ended 30 September 2026 under the applicable SEBI regulations. The review report states that, “Accordingly, we do not express an audit opinion,” and notes that the review was substantially less in scope than an audit. The filing contains a qualified-opinion reference, but the provided excerpt does not include the full qualified-opinion paragraph or state a going-concern conclusion.