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- Q2 FY26 results
Everest Industries Q2 FY26 results: net loss widens to ₹18.17 crore, revenue down 18.8%
Everest Industries Limited reported consolidated revenue of ₹306.16 crore in Q2 FY26, down 18.8% from the year-ago quarter and 38.9% from Q1 FY26, with a net loss of ₹18.17 crore and an EBITDA margin of -2.9%. On a standalone basis, revenue was ₹288.59 crore and the company reported a net loss of ₹12.05 crore. The board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2025 on 29 October 2025.
Key points
- Consolidated revenue of ₹306.16 crore in Q2 FY26 fell 18.8% from ₹376.82 crore in Q2 FY25 and 38.9% from ₹500.72 crore in Q1 FY26.
- The company reported a net loss of ₹18.17 crore in Q2 FY26 against a net loss of ₹11.67 crore a year ago, with basic EPS of -₹11.48.
- EBITDA was -₹9 crore in Q2 FY26, with an EBITDA margin of -2.9%, against -₹1.71 crore and -0.5% in Q2 FY25.
- Steel buildings revenue fell 52.4% to ₹75.4 crore in Q2 FY26, with segment EBIT of -₹6.33 crore against ₹5.01 crore a year ago.
- The stock fell 4.9% on the reaction day and was down 3.8% by the close five sessions later, against an industry median move of -0.1% and -1.2% over the same closes.
How did Everest Industries perform in Q2 FY26?
Everest Industries reported consolidated revenue of ₹306.16 crore for Q2 FY26, the July–September 2025 quarter, against ₹376.82 crore in Q2 FY25, a fall of 18.8%. Total income was ₹307.8 crore, down ₹71.08 crore from ₹378.88 crore a year ago. Revenue was also lower than the ₹500.72 crore recorded in the previous quarter, Q1 FY26, a fall of 38.9%.
EBITDA for the quarter was -₹9 crore, with an EBITDA margin of -2.9%, against -₹1.71 crore and -0.5% in Q2 FY25. Against Q1 FY26, when EBITDA was ₹16.39 crore at a 3.3% margin, the margin moved by 6.2 percentage points lower. The company reported a loss before tax of ₹24.75 crore, against ₹14.52 crore a year ago and profit before tax of ₹3.32 crore in the previous quarter.
Loss for the period was ₹18.17 crore, compared with a net loss of ₹11.67 crore in Q2 FY25 and profit of ₹1.63 crore in Q1 FY26. Basic EPS was -₹11.48 for the quarter against -₹7.39 a year ago and ₹1.03 in the previous quarter. On a standalone basis, the quarter's revenue was ₹288.59 crore and the company reported a net loss of ₹12.05 crore, against a net loss of ₹8.49 crore before tax.
| ₹ crore | Q2 FY26 | Q1 FY26 | Q2 FY25 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 306.16 | 500.72 | 376.82 | −18.8% | −38.9% |
| Other income | 1.65 | 3.29 | 2.06 | −19.9% | −49.8% |
| Total expenses | 332.55 | 500.69 | 393.41 | −15.5% | −33.6% |
| EBITDA | −9 | 16.39 | −1.71 | turned to loss | |
| EBITDA margin | -2.9% | 3.3% | -0.5% | −2.4 pp | −6.2 pp |
| Profit before tax | −24.75 | 3.32 | −14.52 | turned to loss | |
| Tax | −6.57 | 1.69 | −2.85 | ||
| Net profit | −18.17 | 1.63 | −11.67 | turned to loss | |
| EPS (₹) | −11.48 | 1.03 | −7.39 | 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 Everest Industries' costs and profit?
Total expenses for Q2 FY26 were ₹332.55 crore, down ₹60.86 crore, or 15.5%, from ₹393.41 crore in Q2 FY25. Cost of materials fell ₹71.17 crore, or 28.9%, to ₹175.37 crore, and other expenses fell ₹17.57 crore, or 15.3%, to ₹97 crore. Employee benefit costs were ₹43.20 crore, lower by ₹0.86 crore, or 2.0%, from ₹44.06 crore.
Finance costs were ₹7.42 crore, up ₹1.78 crore, or 31.6%, from ₹5.64 crore, and depreciation rose ₹0.72 crore, or 7.8%, to ₹9.96 crore. Other income was ₹1.65 crore, lower by ₹0.41 crore, or 19.9%, from ₹2.06 crore. There was no exceptional item in the quarter, and total tax was ₹6.57 crore against ₹2.85 crore a year ago.
The filing did not state reasons for the changes in cost of materials, other expenses, finance costs or tax. What the figures show is a decline in revenue of ₹70.66 crore against a fall of ₹60.86 crore in total expenses, with the loss before tax widening by ₹10.23 crore to ₹24.75 crore.
| ₹ crore | Q2 FY26 | Q2 FY25 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 175.37 | 246.54 | −71.17 | −28.9% |
| Employee cost | 43.20 | 44.06 | −0.86 | −2.0% |
| Finance costs | 7.42 | 5.64 | +1.78 | +31.6% |
| Depreciation | 9.96 | 9.24 | +0.72 | +7.8% |
| Other expenses | 97 | 114.57 | −17.57 | −15.3% |
| Total expenses | 332.55 | 393.41 | −60.86 | −15.5% |
| Other income | 1.65 | 2.06 | −0.41 | −19.9% |
| Tax | −6.57 | −2.85 | −3.72 |
Source: Company's results filing (XBRL).
How did the first half of FY26 go?
For the first half of FY26, consolidated revenue was ₹806.88 crore, down ₹92.28 crore, or 10.3%, from ₹899.16 crore in H1 FY25. Total income was ₹811.82 crore against ₹906.05 crore, a fall of ₹94.23 crore, or 10.4%.
Profit before tax moved to a loss of ₹21.42 crore from ₹7.92 crore of profit in H1 FY25, a difference of ₹29.34 crore. The company reported a net loss of ₹16.54 crore in the first half against profit of ₹4.23 crore a year earlier, a difference of ₹20.77 crore. EPS for the first half was -₹10.45 against ₹2.68 in H1 FY25.
| ₹ crore | H1 FY26 | H1 FY25 | Change |
|---|---|---|---|
| Revenue from operations | 806.88 | 899.16 | −10.3% |
| Profit before tax | −21.42 | 7.92 | turned to loss |
| Net profit | −16.54 | 4.23 | turned to loss |
| EPS (₹) | −10.45 | 2.68 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹1,302.67 crore as on 30 September 2025, against ₹1,311.7 crore as on 31 March 2025. Total equity was ₹576.43 crore against ₹596.61 crore, and borrowings were ₹209.0 crore against ₹164.01 crore. Cash and cash equivalents were ₹7.35 crore against ₹9.91 crore. Inventories were ₹379.11 crore against ₹434.95 crore, trade receivables ₹162.2 crore against ₹154.78 crore, and trade payables ₹133.64 crore against ₹166.07 crore.
In H1 FY26, operating cash flow was -₹16.71 crore, against -₹147.81 crore in H1 FY25. Investing cash flow was -₹13.59 crore against -₹38.56 crore, and financing cash flow was ₹27.74 crore against ₹143.12 crore. Capital expenditure was ₹19.78 crore in H1 FY26, against ₹54.83 crore in H1 FY25, when closing cash was ₹19.9 crore.
| ₹ crore | As of 30 September 2025 | As of 31 March 2025 |
|---|---|---|
| Total assets | 1,303 | 1,312 |
| Total equity | 576.43 | 596.61 |
| Borrowings | 209 | 164.01 |
| Cash and equivalents | 7.35 | 9.91 |
| Inventories | 379.11 | 434.95 |
| Trade receivables | 162.20 | 154.78 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY26 | H1 FY25 |
|---|---|---|
| Cash from operations | −16.71 | −147.81 |
| Cash from investing | −13.59 | −38.56 |
| Cash from financing | 27.74 | 143.12 |
| Capital expenditure | 19.78 | 54.83 |
Source: Company's results filing (XBRL).
How has Everest Industries done over the last 8 quarters?
Over the eight quarters to Q2 FY26, revenue peaked at ₹522.34 crore in Q1 FY25 and was lowest at ₹306.16 crore in the latest quarter. Q2 FY26 revenue was also below the ₹500.72 crore of Q1 FY26 and the ₹376.82 crore of Q2 FY25, and the trend has moved lower over the last two quarters.
Profit turned negative in Q2 FY25 at a net loss of ₹11.67 crore, then a loss of ₹15.48 crore in Q3 FY25, before a profit of ₹7.64 crore in Q4 FY25 and ₹1.63 crore in Q1 FY26. The latest quarter recorded a net loss of ₹18.17 crore, the deepest of the period. The EBITDA margin reached its high of 5.1% in Q1 FY25 and its low of -2.9% in Q2 FY26.
Which businesses drove the quarter?
Building products reported revenue of ₹230.76 crore in Q2 FY26, up 5.6% from ₹218.56 crore in the year-ago quarter, with EBIT of ₹7.55 crore against ₹6.52 crore. The segment's EBIT margin was 3.3%.
Steel buildings reported revenue of ₹75.4 crore in Q2 FY26, down 52.4% from ₹158.27 crore in Q2 FY25. Segment EBIT was -₹6.33 crore against ₹5.01 crore in the year-ago quarter, and the EBIT margin was -8.4%. The filing did not state reasons for the change in the steel buildings segment.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Building products | 230.76 | +5.6% | 7.55 | 3.3% |
| Building products | 230.76 | +5.6% | 7.55 | 3.3% |
| Steel buildings | 75.40 | −52.4% | −6.33 | -8.4% |
| Steel buildings | 75.40 | −52.4% | −6.33 | -8.4% |
Source: Company's results filing (XBRL segment data).
How did Everest Industries shares react?
Everest Industries filed the results after market hours on 29 October 2025. From the price when the filing appeared, the stock moved -0.5% after 5 minutes, -0.1% after 15 minutes and -1.5% after 30 minutes. On the reaction day it fell 4.9% from the previous close of ₹618.25, and by the next day's close it was down 4.4% from that pre-results close. By the close five sessions later, it was down 3.8%.
Past results-day moves were mixed: +2.5% on 4 August 2025, +2.0% on 19 May 2025 and +3.9% on 4 February 2025, followed by -7.6% on 5 November 2024, -1.9% on 1 August 2024 and +4.1% on 22 May 2024.
| After the filing | Stock | Other Construction Materials median |
|---|---|---|
| 5 minutes | −0.5% | |
| 15 minutes | −0.1% | |
| 30 minutes | −1.5% | |
| Reaction day | −4.9% | −0.1% |
| Next day | −4.4% | −0.8% |
| 5 days | −3.8% | −1.2% |
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 2025 | +2.5% |
| 19 May 2025 | +2.0% |
| 4 February 2025 | +3.9% |
| 5 November 2024 | −7.6% |
| 1 August 2024 | −1.9% |
| 22 May 2024 | +4.1% |
Source: MarketPing price-reaction measurement.
How did other Other Construction Materials companies do?
Thirteen other companies in the Other Construction Materials industry were compared for this quarter, and their median revenue growth was 9.0%. Twelve of these peers grew faster than Everest Industries, while one grew slower. Everest Industries' consolidated revenue declined in the quarter.
Of the 17 peers for which profit was compared, eight reported higher profit. The peer comparison was recorded as of 5 November 2026.
| Everest Industries revenue growth (YoY) | −18.8% |
|---|---|
| Median of 13 other Other Construction Materials companies | +9.0% |
| Companies with slower revenue growth than Everest Industries | 1 of 13 |
| Companies with faster revenue growth than Everest Industries | 12 of 13 |
| Companies whose net profit rose | 8 of 17 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Everest Industries' revenue in Q2 FY26?
Revenue from operations was ₹306.16 crore, down 18.8% from ₹376.82 crore in Q2 FY25 (consolidated).
Did Everest Industries make a profit in Q2 FY26?
No. It reported a net loss of ₹18.17 crore, against a net loss of ₹11.67 crore in Q2 FY25.
What was Everest Industries' EPS in Q2 FY26?
Basic loss per share was ₹11.48, against a loss of ₹7.39 in Q2 FY25.
How did Everest Industries shares react to the Q2 FY26 results?
On the reaction day the stock moved −4.9% from the previous close; the median Other Construction Materials stock moved −0.1%.
When did Everest Industries announce its Q2 FY26 results?
On 29 October 2025, in a filing to the NSE.
Sources
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.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.