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Chowgule Steamships Q2 FY27 results: net loss of ₹0.21 crore vs ₹0.16 crore profit, revenue down 21.1%
Chowgule Steamships Ltd reported standalone revenue of ₹0.60 crore in Q2 FY27 and a net loss of ₹0.21 crore, compared with a net profit of ₹0.16 crore in Q2 FY26. In the first half, revenue was ₹1.42 crore and net profit was ₹0.43 crore, with basic EPS of ₹0.12.
Key points
- Q2 FY27 standalone revenue was ₹0.60 crore, down ₹0.16 crore from ₹0.76 crore in Q2 FY26.
- The company reported a net loss of ₹0.21 crore in Q2 FY27, against a net profit of ₹0.16 crore in Q2 FY26.
- Q2 FY27 total income was ₹1.10 crore, while total expenses were ₹1.15 crore, including other expenses of ₹0.89 crore.
- H1 FY27 revenue was ₹1.42 crore and net profit was ₹0.43 crore, compared with revenue of ₹1.59 crore and net profit of ₹0.44 crore in H1 FY26.
- Cash and cash equivalents were ₹2.35 crore at 30 September 2026, against ₹0.10 crore at 31 March 2026.
How did Chowgule Steamships perform in Q2 FY27?
Chowgule Steamships reported standalone revenue of ₹0.60 crore in Q2 FY27, down ₹0.16 crore from ₹0.76 crore in Q2 FY26 and ₹0.22 crore from ₹0.82 crore in Q1 FY27. Total income was ₹1.10 crore, against ₹1.19 crore in Q2 FY26 and ₹1.91 crore in the previous quarter. The figures are standalone; no consolidated figures were provided in the filing.
Total expenses were ₹1.15 crore in Q2 FY27, compared with ₹0.96 crore in Q2 FY26 and ₹1.23 crore in Q1 FY27. EBITDA was a loss of ₹0.47 crore, with an EBITDA margin of -78.7%, versus a loss of ₹0.07 crore and a margin of -9.4% in Q2 FY26. Profit before tax was a loss of ₹0.05 crore, while net profit was a loss of ₹0.21 crore and basic EPS was -₹0.06. In Q1 FY27, net profit was ₹0.64 crore and basic EPS was ₹0.18.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0.60 | 0.82 | 0.76 | −21.1% | −26.8% |
| Other income | 0.51 | 1.09 | 0.43 | +18.6% | −53.2% |
| Total expenses | 1.15 | 1.23 | 0.96 | +19.8% | −6.5% |
| EBITDA | −0.47 | −0.31 | −0.07 | ||
| EBITDA margin | -78.7% | -38.1% | -9.4% | −69.3 pp | −40.6 pp |
| Profit before tax | −0.05 | 0.69 | 0.23 | turned to loss | turned to loss |
| Tax | 0.16 | 0.05 | 0.07 | +128.6% | +220.0% |
| Net profit | −0.21 | 0.64 | 0.16 | turned to loss | turned to loss |
| EPS (₹) | −0.06 | 0.18 | 0.04 | turned to loss | turned to loss |
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 Chowgule Steamships' costs and profit?
Other income was ₹0.51 crore in Q2 FY27, up ₹0.08 crore from ₹0.43 crore in Q2 FY26 but down ₹0.58 crore from ₹1.09 crore in Q1 FY27. Total expenses increased by ₹0.19 crore from the year-ago quarter, with other expenses rising ₹0.22 crore to ₹0.89 crore and employee cost rising ₹0.02 crore to ₹0.18 crore. Depreciation fell ₹0.03 crore to ₹0.08 crore and finance costs fell ₹0.02 crore to no finance cost.
There was no exceptional item in Q2 FY27. Tax expense was ₹0.16 crore, compared with ₹0.07 crore in Q2 FY26 and ₹0.05 crore in Q1 FY27. The filing does not state why revenue, other income or expenses changed. The resulting loss before tax was ₹0.05 crore and the net loss was ₹0.21 crore, compared with profit before tax of ₹0.23 crore and net profit of ₹0.16 crore a year earlier.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.18 | 0.16 | +0.02 | +12.5% |
| Finance costs | 0 | 0.02 | −0.02 | |
| Depreciation | 0.08 | 0.11 | −0.03 | −27.3% |
| Other expenses | 0.89 | 0.67 | +0.22 | +32.8% |
| Total expenses | 1.15 | 0.96 | +0.19 | +19.8% |
| Other income | 0.51 | 0.43 | +0.08 | +18.6% |
| Tax | 0.16 | 0.07 | +0.09 | +128.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, standalone revenue was ₹1.42 crore, down ₹0.17 crore or 10.7% from ₹1.59 crore in H1 FY26. Total income was ₹3.02 crore, up ₹0.18 crore or 6.3% from ₹2.84 crore. Profit before tax was ₹0.64 crore, compared with ₹0.62 crore in H1 FY26.
Net profit for the first half was ₹0.43 crore, compared with ₹0.44 crore in H1 FY26, while basic EPS was ₹0.12 in both periods. The first-half results therefore showed lower revenue and slightly lower net profit, despite higher total income and profit before tax.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1.42 | 1.59 | −10.7% |
| Profit before tax | 0.64 | 0.62 | +3.2% |
| Net profit | 0.43 | 0.44 | −2.3% |
| EPS (₹) | 0.12 | 0.12 | +0.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹54.69 crore, compared with ₹53.49 crore at 31 March 2026. Total equity was ₹44.8 crore, compared with ₹44.37 crore, while borrowings remained at no borrowings. Cash and cash equivalents were ₹2.35 crore, compared with ₹0.10 crore; trade receivables were ₹0.09 crore, against ₹0.02 crore, and trade payables were ₹0.29 crore, against ₹0.06 crore.
For H1 FY27, net cash flow used in operating activities was ₹1.57 crore, compared with ₹2.22 crore in H1 FY26. Net cash flow from investing activities was ₹3.82 crore, against ₹2.41 crore, and financing cash flow was nil in both periods. Capital expenditure was ₹0.13 crore, compared with ₹0.01 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 54.69 | 53.49 |
| Total equity | 44.80 | 44.37 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 2.35 | 0.10 |
| Inventories | 0 | 0 |
| Trade receivables | 0.09 | 0.02 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −1.57 | −2.22 |
| Cash from investing | 3.82 | 2.41 |
| Cash from financing | 0 | 0 |
| Capital expenditure | 0.13 | 0.01 |
Source: Company's results filing (XBRL).
How has Chowgule Steamships done over the last 8 quarters?
Revenue in the available quarterly series peaked at ₹1.03 crore in Q4 FY25 and was ₹0.60 crore in Q2 FY27, the lowest listed level. Q2 FY27 revenue was below ₹0.82 crore in Q1 FY27 and ₹0.76 crore in Q2 FY26, showing a decline from the year-ago quarter and the previous quarter.
Net profit reached ₹0.64 crore in Q1 FY27 before turning to a net loss of ₹0.21 crore in Q2 FY27. The highest listed profit was ₹0.29 crore in Q3 FY26, while the lowest was a net loss of ₹0.87 crore in Q4 FY26. EBITDA margin was -78.7% in Q2 FY27, compared with -38.1% in Q1 FY27 and -9.4% in Q2 FY26.
What else did the company announce?
The board approved the standalone unaudited financial results for the quarter and half year ended 30 September 2026, together with the statement of assets and liabilities, cash flow statement and limited review report. It also considered the cessation of the Company Secretary and Compliance Officer and authorised a fresh appointment.
The company received a Letter of Intent from promoter Chowgule and Company Private Limited for a proposed inter-se transfer of 1,74,50,333 equity shares among promoters and the promoter group under the Memorandum of Family Settlement dated 11 January 2021. The filing said the transfer would be without cash consideration, through Depository Participant instructions, and would leave aggregate promoter and promoter-group shareholding unchanged. The same-day filing also stated that the company operates in one segment, Shipping.
How did Chowgule Steamships shares react?
After the filing appeared in the market, the stock moved down 2.6% after 5 minutes, 0.8% after 15 minutes and 0.8% after 30 minutes. On the reaction day, it fell 5.5% from the previous close of ₹19.99; by the next day's close, it was down 2.6% from that pre-results close. No five-day reaction was provided.
The Shipping industry's median move was -0.4% on the reaction day and 1.7% by the next day's close, so Chowgule Steamships underperformed the industry median by 5.1 percentage points on the reaction day and 4.2 percentage points by the next day's close. Earlier reaction-day moves included -2.2% on 4 August 2026, -1.8% on 26 May 2026 and 3.2% on 11 February 2026.
| After the filing | Stock | Shipping median |
|---|---|---|
| 5 minutes | −2.6% | |
| 15 minutes | −0.8% | |
| 30 minutes | −0.8% | |
| Reaction day | −5.5% | −0.4% |
| Next day | −2.6% | +1.7% |
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 |
|---|---|
| 4 August 2026 | −2.2% |
| 26 May 2026 | −1.8% |
| 11 February 2026 | +3.2% |
| 12 November 2025 | +0.3% |
| 15 July 2025 | +2.6% |
| 22 May 2025 | +16.4% |
| 18 July 2024 | +2.0% |
| 14 May 2024 | −5.1% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Chowgule Steamships' revenue in Q2 FY27?
Revenue from operations was ₹0.60 crore, down 21.1% from ₹0.76 crore in Q2 FY26 (standalone).
Did Chowgule Steamships make a profit in Q2 FY27?
No. It reported a net loss of ₹0.21 crore, against a net profit of ₹0.16 crore in Q2 FY26.
What was Chowgule Steamships' EPS in Q2 FY27?
Basic loss per share was ₹0.06, against ₹0.04 in Q2 FY26.
How did Chowgule Steamships shares react to the Q2 FY27 results?
On the reaction day the stock moved −5.5% from the previous close; the median Shipping stock moved −0.4%.
When did Chowgule Steamships announce its Q2 FY27 results?
On 28 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of Board Meeting To Be Held On October 28, 2026. (BSE, 17 October 2026) · PDF
- Results For Quarter And Half Year Ended September 2026 (BSE, 28 October 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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