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BPL Q2 FY27 results: net loss widens to ₹5.19 crore, revenue up 23.1%
BPL Limited reported consolidated revenue of ₹24.42 crore for Q2 FY27, up 23.1% from Q2 FY26, while EBITDA moved to a loss of ₹0.04 crore and the company reported a net loss of ₹5.19 crore. Revenue increased for the third consecutive quarter on a year-on-year basis, but the EBITDA margin fell to -0.2%.
Key points
- Consolidated revenue rose to ₹24.42 crore in Q2 FY27 from ₹19.84 crore in Q2 FY26, an increase of 23.1%.
- The company reported a net loss of ₹5.19 crore in Q2 FY27, compared with a net loss of ₹0.19 crore in Q2 FY26.
- EBITDA was a loss of ₹0.04 crore in Q2 FY27, compared with ₹0.49 crore in Q2 FY26, while EBITDA margin fell to -0.2%.
- Basic EPS declined to -₹1.06 in Q2 FY27 from -₹0.04 in Q2 FY26.
- For H1 FY27, revenue was ₹45.82 crore, up 16.5% from ₹39.32 crore, while the company reported a net loss of ₹8.73 crore.
How did BPL perform in Q2 FY27?
BPL’s consolidated revenue for the July–September 2026 quarter was ₹24.42 crore, up from ₹19.84 crore in Q2 FY26 and ₹21.39 crore in Q1 FY27. Total income was ₹24.65 crore, up 22.8% from the year-ago quarter and 14.0% from the previous quarter. The figures are consolidated; on a standalone basis, revenue was ₹24.42 crore and the company reported a net loss of ₹5.09 crore.
EBITDA moved from ₹0.49 crore in Q2 FY26 to a loss of ₹0.04 crore, while the margin fell to -0.2% from 2.5%. The company reported a net loss of ₹5.19 crore, compared with a net loss of ₹0.19 crore in Q2 FY26 and ₹3.54 crore in Q1 FY27. Basic EPS declined to -₹1.06 from -₹0.04 year ago and -₹0.72 in the previous quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 24.42 | 21.39 | 19.84 | +23.1% | +14.2% |
| Other income | 0.23 | 0.22 | 0.23 | +0.0% | +4.5% |
| Total expenses | 25.49 | 20.85 | 20.26 | +25.8% | +22.3% |
| EBITDA | −0.04 | 1.45 | 0.49 | turned to loss | turned to loss |
| EBITDA margin | -0.2% | 6.8% | 2.5% | −2.7 pp | −7.0 pp |
| Profit before tax | −5.19 | −3.54 | −0.19 | ||
| Tax | 0 | 0 | 0 | ||
| Net profit | −5.19 | −3.54 | −0.19 | ||
| EPS (₹) | −1.06 | −0.72 | −0.04 |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in BPL's costs and profit?
Total expenses rose to ₹25.49 crore in Q2 FY27 from ₹20.26 crore in Q2 FY26, an increase of ₹5.23 crore. Cost of materials accounted for the largest rise, increasing by ₹4.71 crore to ₹17.04 crore. Employee cost rose by ₹0.27 crore to ₹2.92 crore, finance costs increased by ₹0.14 crore to ₹0.44 crore, and other expenses rose by ₹0.44 crore to ₹4.63 crore. Depreciation declined by ₹0.02 crore to ₹0.59 crore.
Other income remained unchanged at ₹0.23 crore from Q2 FY26, while the quarter included an exceptional charge of ₹4.36 crore. The year-ago quarter had no exceptional item. There was no tax expense in either quarter. The filing states the figures but does not provide a reason for the year-on-year changes.
Against Q1 FY27, total expenses increased by ₹4.64 crore. Cost of materials rose by ₹1.93 crore, finance costs by ₹0.13 crore and other expenses by ₹1.85 crore, while employee cost fell by ₹0.03 crore and depreciation fell by ₹0.01 crore. Other income increased by ₹0.01 crore, the exceptional charge was ₹4.31 crore, and there was no tax expense.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 17.04 | 12.33 | +4.71 | +38.2% |
| Employee cost | 2.92 | 2.65 | +0.27 | +10.2% |
| Finance costs | 0.44 | 0.30 | +0.14 | +46.7% |
| Depreciation | 0.59 | 0.61 | −0.02 | −3.3% |
| Other expenses | 4.63 | 4.19 | +0.44 | +10.5% |
| Total expenses | 25.49 | 20.26 | +5.23 | +25.8% |
| Other income | 0.23 | 0.23 | 0 | +0.0% |
| Tax | 0 | 0 | 0 | |
| Exceptional items | −4.36 (charge) | none |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹45.82 crore, up ₹6.5 crore or 16.5% from ₹39.32 crore in H1 FY26. Total income rose by ₹6.29 crore to ₹46.27 crore from ₹39.98 crore. Revenue rose on a year-on-year basis in each of the last three quarters.
Profit before tax and net profit moved from ₹2.54 crore in H1 FY26 to a loss of ₹8.73 crore in H1 FY27. Basic EPS declined to -₹1.78 from ₹0.52. The result therefore changed from profit to loss in the first half, while revenue increased.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 45.82 | 39.32 | +16.5% |
| Profit before tax | −8.73 | 2.54 | turned to loss |
| Net profit | −8.73 | 2.54 | turned to loss |
| EPS (₹) | −1.78 | 0.52 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹715.49 crore, compared with ₹713.66 crore at 31 March 2026. Total equity fell to ₹366.63 crore from ₹375.36 crore, while borrowings were ₹105.58 crore against ₹105.57 crore. Cash and cash equivalents rose to ₹2.20 crore from ₹1.08 crore, inventories increased to ₹9.60 crore from ₹8.76 crore, and trade receivables rose to ₹26.53 crore from ₹25.00 crore. Trade payables were ₹24.58 crore compared with ₹24.09 crore.
For H1 FY27, net cash from operating activities was ₹8.43 crore, compared with an outflow of ₹97.35 crore in H1 FY26. Investing activities generated ₹2.09 crore, compared with ₹0.29 crore a year earlier, while financing activities used ₹9.40 crore versus an inflow of ₹97.77 crore. The filing reports no capital expenditure for H1 FY27, compared with ₹0.12 crore in the earlier period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 715.49 | 713.66 |
| Total equity | 366.63 | 375.36 |
| Borrowings | 105.58 | 105.57 |
| Cash and equivalents | 2.20 | 1.08 |
| Inventories | 9.60 | 8.76 |
| Trade receivables | 26.53 | 25 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 8.43 | −97.35 |
| Cash from investing | 2.09 | 0.29 |
| Cash from financing | −9.40 | 97.77 |
| Capital expenditure | 0 | 0.12 |
Source: Company's results filing (XBRL).
How has BPL done over the last 8 quarters?
Revenue reached a period high of ₹24.42 crore in Q2 FY27, above ₹21.39 crore in Q1 FY27 and ₹19.62 crore in Q4 FY26. It has risen year on year for three consecutive quarters, with Q2 FY26 revenue at ₹19.84 crore. Q3 FY25 was the lowest point in the reported series at ₹19.32 crore, while Q1 FY27 showed the recent upward movement.
Profit remained negative in the latest quarters, with a net loss of ₹5.19 crore in Q2 FY27 following a net loss of ₹3.54 crore in Q1 FY27. The largest loss in the series was ₹17.66 crore in Q4 FY25, while Q1 FY26 recorded profit of ₹2.73 crore. The EBITDA margin fell to -0.2% in Q2 FY27 from 6.8% in Q1 FY27; its earlier peak was 16.8% in Q1 FY26.
Which businesses drove the quarter?
PCB revenue rose to ₹21.49 crore in Q2 FY27 from ₹15.81 crore in Q2 FY26, an increase of 36.0%. Segment EBIT was ₹0.97 crore, compared with ₹0.76 crore in the year-ago quarter, and the reported EBIT margin was 4.5%.
Brand Licensing Fee reported revenue of ₹2.93 crore and EBIT of -₹4.17 crore in Q2 FY27, with an EBIT margin of -142.5%; no year-ago revenue or EBIT was provided for comparison. Power Generation reported no revenue and EBIT of -₹0.10 crore, against no revenue and ₹0.01 crore of EBIT in Q2 FY26. Unallocated revenue was ₹0.23 crore, up 1.0%, while EBIT was -₹0.02 crore compared with ₹0.16 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| PCB | 21.49 | +36.0% | 0.97 | 4.5% |
| BRAND LICENSING FEE | 2.93 | −4.17 | -142.5% | |
| POWER GENERATION | 0 | −0.10 | ||
| Unallocated | 0.23 | +1.0% | −0.02 | -9.1% |
Source: Company's results filing (XBRL segment data).
How did BPL shares react?
After the filing appeared after market, BPL’s price was down 1.9% after 5 minutes, down 0.7% after 15 minutes and up 0.2% after 30 minutes. On the reaction day, the stock fell 4.3% from its previous close; by the next day’s close, it was down 4.8% from that pre-results close. The Consumer Electronics industry median rose 0.4% on the reaction day and 3.0% by the next day’s close, leaving BPL 4.7 percentage points and 7.9 percentage points behind the sector median.
Earlier results-day reactions were also negative: BPL fell 3.4% on 12 August 2026, 3.7% on 28 May 2026, 2.0% on 13 February 2026 and 6.3% on 12 November 2025. Earlier moves included a fall of 3.6% on 13 August 2025, 2.1% on 28 May 2025, 1.0% on 12 February 2025 and 5.5% on 13 November 2024. No five-session move was provided for the latest result.
| After the filing | Stock | Consumer Electronics median |
|---|---|---|
| 5 minutes | −1.9% | |
| 15 minutes | −0.7% | |
| 30 minutes | +0.2% | |
| Reaction day | −4.3% | +0.4% |
| Next day | −4.8% | +3.0% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 12 August 2026 | −3.4% |
| 28 May 2026 | −3.7% |
| 13 February 2026 | −2.0% |
| 12 November 2025 | −6.3% |
| 13 August 2025 | −3.6% |
| 28 May 2025 | −2.1% |
| 12 February 2025 | −1.0% |
| 13 November 2024 | −5.5% |
Source: MarketPing price-reaction measurement.
Quick answers
What was BPL's revenue in Q2 FY27?
Revenue from operations was ₹24.42 crore, up 23.1% from ₹19.84 crore in Q2 FY26 (consolidated).
Did BPL make a profit in Q2 FY27?
No. It reported a net loss of ₹5.19 crore, against a net loss of ₹0.19 crore in Q2 FY26.
What was BPL's EPS in Q2 FY27?
Basic loss per share was ₹1.06, against a loss of ₹0.04 in Q2 FY26.
How did BPL shares react to the Q2 FY27 results?
On the reaction day the stock moved −4.3% from the previous close; the median Consumer Electronics stock moved +0.4%.
When did BPL announce its Q2 FY27 results?
On 2 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Unaudited Financial Results For Quarter Ending Sept 30,2026 (BSE, 23 October 2026) · PDF
- Outcome of Board Meeting (NSE, 2 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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