Belding India Q2 FY27 results: net loss of ₹5.55 crore

How did Belding India perform in Q2 FY27?

Belding India's consolidated Q2 FY27 revenue was ₹6.61 crore, while other income was ₹2.07 crore and total expenses were ₹17.34 crore. EBITDA was a loss of ₹6.79 crore and the EBITDA margin was -102.7%. Profit before tax was a loss of ₹8.66 crore, and the company reported a net loss of ₹5.55 crore; basic EPS was -₹3.64.

The reported quarter was the September 2026 quarter. The filing also included standalone results, which showed revenue from operations of ₹33.97 lakh and a loss for the period from continuing operations of ₹62.35 lakh. Standalone basic EPS for continuing operations was -₹0.43. The quarter included a profit from discontinued operations of ₹11.25 lakh, and the standalone loss before exceptional item and tax was ₹88.48 lakh. No exceptional item was reported.

What do the balance sheet and cash flow show?

As of 30 September 2026, consolidated total assets were ₹1,130.18 crore, compared with ₹1,143.74 crore at 31 March 2026. Total equity was ₹1,038.76 crore, compared with ₹1,048.44 crore, while borrowings were ₹36.36 crore versus ₹9.63 crore. Cash was ₹23.22 crore, compared with ₹1.1 crore, and inventories were ₹10.79 crore versus ₹0.05 crore.

For H1 FY27, operating cash flow was a cash outflow of ₹32.88 crore, investing cash flow was an inflow of ₹56.58 crore and financing cash flow was an outflow of ₹1.57 crore. Capital expenditure was ₹52.84 crore. A comparable year-ago cash-flow figure was not provided in the available data.

What else did the company announce?

The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, along with the limited review report issued by Mehra Goel & Co. LLP. It also approved keeping the draft scheme of amalgamation between DC&T Global and Belding India in abeyance.

The company said the proposed amalgamation could have an operational impact on opportunities available to DC&T, and that it would reconsider the transaction at an appropriate time after obtaining the required approvals. The company said the scheme was not being pursued at that stage and had no financial or other impact on the operations of either company. The filings did not announce a dividend, fund raise or new appointment.

What did Belding India's management say?

Management said in its investor presentation that Belding India was positioning itself as an integrated, manufacturing-led infrastructure platform spanning edge and modular data centres, BESS, precision fabrication, defence and security screening. It presented a 9-acre, 200,000+ sq ft Khed manufacturing campus completed in 11 months, a 3 GWh automated BESS line expandable to 10 GWh, modular data centres up to 5 MW per deployment and capacity for 1,800 baggage scanners a year.

Management said the presentation covered Q2 FY27 order-book building and the start of revenue recognition, but it did not disclose H1 FY27 financials, an order-book value or financial guidance. Management also identified external dependence on imported battery cells for BESS systems and said the deck did not disclose plant utilisation or revenue from the emerging UAS capability.

Management said the company was targeting contract-manufacturing opportunities across the United States and Middle East, extending commercial outreach beyond the domestic market. The presentation identified BESS as the core growth engine and said the automated assembly line had 3 GWh capacity, expandable up to 10 GWh, with annual container capability of 5,100. It did not provide a timeframe for the capacity expansion.

How did Belding India shares react?

Belding India's stock moved after the filing, which was released after market hours. From the price when the filing appeared, the stock was down 1.2% after 5 minutes, up 0.5% after 15 minutes and up 0.6% after 30 minutes. On the reaction day, it closed up 6.3% from the previous close of ₹778.15, and by the next day's close it was up 8.6% from that pre-results close.

The industry median move was up 3.5% on the reaction day and up 3.6% by the next day's close. Belding India therefore exceeded the industry median by 2.8 percentage points on the reaction day and by 5.0 percentage points by the next day's close. The Nifty Microcap 250 was up 2.2% on the reaction day. Earlier results-day moves were up 1.3% on 30 July 2026, up 5.0% on 23 May 2026 and down 4.9% on 12 February 2026.