Agri-Tech Q2 FY27 results: net loss of ₹0.30 crore vs ₹0.02 crore profit, revenue up 66.7%

How did Agri-Tech perform in Q2 FY27?

Agri-Tech reported standalone revenue of ₹0.05 crore in Q2 FY27, compared with ₹0.03 crore in Q2 FY26 and ₹0.20 crore in Q1 FY27. Revenue was up 66.7% from the year-ago quarter and down 75.0% from the previous quarter. Total income showed the same comparisons, falling 77.3% year on year and 75.0% sequentially.

EBITDA was a loss of ₹0.27 crore in Q2 FY27, against a loss of ₹0.15 crore in Q2 FY26 and ₹0.01 crore in Q1 FY27. The EBITDA margin was -589.3%, compared with -438.3% a year earlier and -6.3% in the previous quarter. The company reported a net loss of ₹0.30 crore, against a net profit of ₹0.02 crore a year earlier; basic EPS was ₹0.51.

The filing presents standalone unaudited results for the quarter and half year ended 30 September 2026. The Board approved the results on 12 October 2026, following review by the Audit Committee on 10 October 2026. No consolidated figures were given in the provided material.

What changed in Agri-Tech's costs and profit?

Total expenses rose to ₹0.35 crore in Q2 FY27 from ₹0.20 crore in Q2 FY26, an increase of ₹0.15 crore, and from ₹0.23 crore in Q1 FY27, an increase of ₹0.12 crore. Cost of materials was unchanged year on year at ₹0.04 crore, while employee cost rose by ₹0.04 crore to ₹0.05 crore and other expenses rose by ₹0.06 crore to ₹0.20 crore. Finance costs rose by ₹0.02 crore to ₹0.02 crore, while depreciation was unchanged at ₹0.02 crore.

Other income fell from ₹0.19 crore in Q2 FY26 to no exceptional item in Q2 FY27, a difference of ₹0.19 crore. There was no exceptional item in either the year-ago quarter or the current quarter, and tax was unchanged at ₹0 crore. The filing did not state reasons for the changes in expenses or other income.

Against Q1 FY27, other expenses increased by ₹0.06 crore to ₹0.20 crore and cost of materials increased by ₹0.01 crore to ₹0.04 crore. Employee cost and depreciation were unchanged, while finance costs increased by ₹0.02 crore to ₹0.02 crore. Other income remained unchanged and there was no exceptional item.

How did the first half of FY27 go?

For the first half of FY27, standalone revenue was ₹0.25 crore, up 66.7% from ₹0.15 crore in H1 FY26. Total income was ₹0.25 crore, down 26.5% from ₹0.34 crore. PBT and PAT were losses of ₹0.33 crore in H1 FY27, compared with losses of ₹0.08 crore in H1 FY26, while basic EPS was ₹0.55 against ₹0.13.

The H1 FY27 results show the effect of lower other income alongside higher operating costs. Other income was ₹0.19 crore in H1 FY26 and ₹0.19 crore for the six months ended 30 September 2026 in the filing, while total expenses were ₹56.54 lakh against ₹41.86 lakh. The filing did not provide further explanations for the year-on-year changes.

What do the balance sheet and cash flow show?

Total assets increased to ₹101.06 crore at 30 September 2026 from ₹100.16 crore at 31 March 2026, while total equity fell to ₹98.95 crore from ₹99.28 crore. Borrowings were ₹0.60 crore against no borrowings at the previous balance sheet date, and cash fell to ₹0.01 crore from ₹0.07 crore. Inventories were ₹0.01 crore at both dates, trade receivables rose to ₹0.03 crore from ₹0.02 crore, and trade payables rose to ₹0.10 crore from ₹0.05 crore.

For H1 FY27, operating cash flow was negative ₹0.34 crore, compared with negative ₹1.02 crore in H1 FY26. Investing cash flow was negative ₹0.32 crore against positive ₹0.84 crore, while financing cash flow was ₹0.60 crore against ₹0 crore. Capital expenditure was ₹0.32 crore in H1 FY27 and ₹0.09 crore in H1 FY26; closing cash was not provided.

How has Agri-Tech done over the last 8 quarters?

Revenue peaked at ₹0.20 crore in Q1 FY27 after ₹0.05 crore in Q2 FY27. PAT was highest in the listed period at ₹0.02 crore in Q2 FY26, while the lowest was a loss of ₹0.59 crore in Q3 FY26; Q2 FY27 recorded a loss of ₹0.30 crore. The EBITDA margin was -589.3% in Q2 FY27, after -6.3% in Q1 FY27, while the lowest margin was -1184.1% in Q3 FY26. Revenue rose year on year in each of the last six quarters.

What did the auditors point out?

The statutory auditors stated that they had performed a limited review and had not performed an audit, so they did not express an audit opinion. Their review was limited primarily to inquiries of company personnel and analytical procedures applied to financial data and provided less assurance than an audit.

The auditors gave a qualified conclusion. As stated in Note 2 to the Statement, Agri-Tech had granted inter-corporate loans to Tech India Nirman Ltd., on which no interest had been charged or provided for during the quarter and half year ended 30 September 2026. In their view, this was not in compliance with Section 186 of the Companies Act, 2013. Under Ind AS 109, such financial assets were required to be recognised and subsequently measured at fair value or amortised cost, as applicable; the auditors said the corresponding financial asset valuation and profit or loss for the period were misstated.

The auditors stated that management had not quantified the impact of this matter and that, in the absence of necessary information, they had been unable to ascertain it. They also noted that the matter was pending before the Honourable Supreme Court of India. Except for the possible effects of the matter described in the Basis for Qualified Conclusion paragraph, nothing had come to their attention indicating that the Statement did not disclose the required information or contained a material misstatement.

How did Agri-Tech shares react?

The filing appeared after market hours. From the price when the filing appeared, the stock was down 0.1% after five minutes, 0.1% after 15 minutes and 0.1% after 30 minutes. On the reaction day, it fell 4.9% from the previous close of ₹99.0; by the next day's close, it was down 0.5% from that pre-results close, and by five sessions it was down 10.1%.