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Hilltone Software and Gases Q2 FY27 results: net loss narrows to ₹0.54 crore, revenue down 24.1%
Hilltone Software and Gases Ltd reported standalone revenue of ₹2.62 crore in Q2 FY27, down 24.1% from ₹3.45 crore in the year-ago quarter. The company reported a net loss of ₹0.54 crore and basic EPS of ₹0.04, while the EBITDA margin was -21.9%. The results were approved by the board on 5 November 2026 and reviewed by the statutory auditor.
Key points
- Standalone revenue was ₹2.62 crore in Q2 FY27, down 24.1% from ₹3.45 crore in Q2 FY26 and up 65.8% from ₹1.58 crore in Q1 FY27.
- The company reported an EBITDA loss of ₹0.57 crore, with an EBITDA margin of -21.9% versus -15.0% in Q2 FY26 and -67.4% in Q1 FY27.
- Q2 FY27 profit before tax was a loss of ₹0.67 crore, and net profit was a loss of ₹0.54 crore; basic EPS was ₹0.04.
- Total expenses were ₹3.44 crore, down 17.5% from ₹4.17 crore in Q2 FY26, while other income was ₹0.15 crore versus ₹0.11 crore.
- The company reported standalone H1 FY27 revenue of ₹4.21 crore, a net loss of ₹1.32 crore and EPS of ₹0.10.
How did Hilltone Software and Gases perform in Q2 FY27?
Hilltone Software and Gases reported standalone revenue of ₹2.62 crore for Q2 FY27, compared with ₹3.45 crore in Q2 FY26 and ₹1.58 crore in Q1 FY27. Revenue fell 24.1% year on year and rose 65.8% from the previous quarter. The company has no subsidiary, associate or joint venture entity during the quarter, so consolidated results were not required.
The Q2 FY27 EBITDA loss was ₹0.57 crore, compared with ₹0.52 crore in Q2 FY26 and ₹1.07 crore in Q1 FY27. The EBITDA margin was -21.9%, compared with -15.0% a year earlier and -67.4% in the previous quarter. Profit before tax was a loss of ₹0.67 crore, against a loss of ₹0.61 crore in Q2 FY26 and ₹1.14 crore in Q1 FY27.
Net profit was a loss of ₹0.54 crore in Q2 FY27, compared with a loss of ₹0.61 crore in Q2 FY26 and ₹0.78 crore in Q1 FY27. Basic EPS was ₹0.04, compared with ₹0.06 in both comparison quarters. The board approved the unaudited results on 5 November 2026, and the statutory auditor issued a limited review report.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 2.62 | 1.58 | 3.45 | −24.1% | +65.8% |
| Other income | 0.15 | 0.17 | 0.11 | +36.4% | −11.8% |
| Total expenses | 3.44 | 2.89 | 4.17 | −17.5% | +19.0% |
| EBITDA | −0.57 | −1.07 | −0.52 | ||
| EBITDA margin | -21.9% | -67.4% | -15.0% | −6.9 pp | +45.5 pp |
| Profit before tax | −0.67 | −1.14 | −0.61 | ||
| Tax | −0.13 | −0.36 | 0 | ||
| Net profit | −0.54 | −0.78 | −0.61 | ||
| EPS (₹) | −0.04 | −0.06 | −0.06 |
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 Hilltone Software and Gases' costs and profit?
Total expenses fell to ₹3.44 crore in Q2 FY27 from ₹4.17 crore in Q2 FY26, a decline of ₹0.73 crore. Cost of materials was ₹1.98 crore, down ₹1.54 crore, while employee cost fell to ₹0.29 crore from ₹0.63 crore. Other expenses declined to ₹0.94 crore from ₹1.28 crore, and finance costs fell to ₹0.02 crore from ₹0.04 crore.
Depreciation increased to ₹0.23 crore from ₹0.16 crore, while other income rose to ₹0.15 crore from ₹0.11 crore. The company recorded no exceptional item in Q2 FY27. Tax was ₹0.13 crore, compared with ₹0 crore in Q2 FY26, and the resulting net loss was ₹0.54 crore against ₹0.61 crore.
Against Q1 FY27, total expenses increased to ₹3.44 crore from ₹2.89 crore. Cost of materials fell to ₹1.98 crore from ₹2.07 crore, employee cost fell to ₹0.29 crore from ₹0.52 crore and other expenses fell to ₹0.94 crore from ₹1.07 crore, while depreciation was ₹0.23 crore against ₹0.22 crore. Finance costs were unchanged at ₹0.02 crore, and other income was ₹0.15 crore against ₹0.17 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 1.98 | 3.52 | −1.54 | −43.8% |
| Employee cost | 0.29 | 0.63 | −0.34 | −54.0% |
| Finance costs | 0.02 | 0.04 | −0.02 | −50.0% |
| Depreciation | 0.23 | 0.16 | +0.07 | +43.8% |
| Other expenses | 0.94 | 1.28 | −0.34 | −26.6% |
| Total expenses | 3.44 | 4.17 | −0.73 | −17.5% |
| Other income | 0.15 | 0.11 | +0.04 | +36.4% |
| Tax | −0.13 | 0 | −0.13 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, Hilltone Software and Gases reported standalone revenue of ₹4.21 crore, compared with ₹5.79 crore in H1 FY26. Total income was ₹4.52 crore against ₹6.04 crore, while profit before tax was a loss of ₹1.81 crore compared with a loss of ₹0.94 crore.
H1 FY27 net profit was a loss of ₹1.32 crore, compared with a loss of ₹0.79 crore in H1 FY26, and EPS was ₹0.10 against ₹0.07. The H1 FY27 results were unaudited, while the H1 FY26 comparative figures were also shown as unaudited in the filing.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 4.21 | 5.79 | −27.3% |
| Profit before tax | −1.81 | −0.94 | |
| Net profit | −1.32 | −0.79 | |
| EPS (₹) | −0.10 | −0.07 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹25.70 crore, compared with ₹26.85 crore at 31 March 2026. Total equity was ₹21.98 crore against ₹23.29 crore, while borrowings were ₹0.56 crore compared with ₹1.63 crore. Cash was ₹1.15 crore against ₹3.62 crore. Inventories rose to ₹3.88 crore from ₹2.47 crore, trade receivables fell to ₹2.03 crore from ₹2.54 crore, and trade payables rose to ₹1.17 crore from ₹0.59 crore.
H1 FY27 operating cash flow was negative ₹2.64 crore, compared with positive ₹2.24 crore in H1 FY26. Investing cash flow was negative ₹0.87 crore against negative ₹2.23 crore, and financing cash flow was positive ₹1.04 crore against negative ₹0.40 crore. Capital expenditure was ₹1.05 crore in H1 FY27, compared with ₹3.98 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 25.70 | 26.85 |
| Total equity | 21.98 | 23.29 |
| Borrowings | 0.56 | 1.63 |
| Cash and equivalents | 1.15 | 3.62 |
| Inventories | 3.88 | 2.47 |
| Trade receivables | 2.03 | 2.54 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −2.64 | 2.24 |
| Cash from investing | −0.87 | −2.23 |
| Cash from financing | 1.04 | −0.40 |
| Capital expenditure | 1.05 | 3.98 |
Source: Company's results filing (XBRL).
How has Hilltone Software and Gases done over the last 8 quarters?
Revenue increased across the last four quarters from ₹3.45 crore in Q2 FY26 to ₹6.64 crore in Q3 FY26, before falling to ₹2.31 crore in Q4 FY26 and ₹1.58 crore in Q1 FY27. It then rose to ₹2.62 crore in Q2 FY27. The reported quarterly revenue peak was ₹6.64 crore in Q3 FY26, while the low in the displayed series was ₹1.41 crore in Q3 FY25.
Net profit moved from a loss of ₹0.61 crore in Q2 FY26 to a profit of ₹0.99 crore in Q3 FY26, followed by losses of ₹0.27 crore in Q4 FY26 and ₹0.78 crore in Q1 FY27. Q2 FY27 recorded a loss of ₹0.54 crore. The EBITDA margin reached 18.1% in Q3 FY26 and fell to -67.4% in Q1 FY27 before improving to -21.9% in Q2 FY27.
Which businesses drove the quarter?
Sale of Gases reported revenue of ₹2.53 crore and EBIT of ₹0.49 crore in Q2 FY27, with an EBIT margin of 19.4%. The segment did not report corresponding revenue or EBIT figures for the year-ago quarter in the supplied data.
Engineering Dept (Heat Exchanger) reported revenue of ₹0.07 crore and an EBIT loss of ₹0.50 crore, with an EBIT margin of -716.9%. Sales of Software reported revenue of ₹0.02 crore and an EBIT loss of ₹0.41 crore, with an EBIT margin of -1689.6%; the year-ago comparative figures for software revenue and EBIT were ₹0.00 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Sale of Gases | 2.53 | 0.49 | 19.4% | |
| Engineering Dept (Heat Exchanger) | 0.07 | −0.50 | -716.9% | |
| Sales of Software | 0.02 | −0.41 | -1689.6% |
Source: Company's results filing (XBRL segment data).
Quick answers
What was Hilltone Software and Gases' revenue in Q2 FY27?
Revenue from operations was ₹2.62 crore, down 24.1% from ₹3.45 crore in Q2 FY26 (standalone).
Did Hilltone Software and Gases make a profit in Q2 FY27?
No. It reported a net loss of ₹0.54 crore, against a net loss of ₹0.61 crore in Q2 FY26.
What was Hilltone Software and Gases' EPS in Q2 FY27?
Basic loss per share was ₹0.04, against a loss of ₹0.06 in Q2 FY26.
When did Hilltone Software and Gases announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for APPROVAL OF UN-AUDITED FINANCIAL RESULTS FOR QUARTER AND HALF YEAR ENDED ON 30Th SEPTEMBER 2026 (BSE, 2 November 2026) · PDF
- FINANCIAL RESULTS FOR QTR ENDING ON 30-09-2026 (BSE, 5 November 2026) · PDF
- Board Meeting Outcome for FINANCIAL RESULTS FOR QTR ENDING ON 30/09/2026 (BSE, 5 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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