IGC Industries Q2 FY27 results: net loss of ₹5.58 crore vs ₹0 crore profit

How did IGC Industries perform in Q2 FY27?

IGC Industries Limited reported standalone revenue of ₹0 crore in Q2 FY27, unchanged from Q2 FY26 and Q1 FY27. Total expenses were ₹5.58 crore, resulting in an EBITDA loss of ₹5.58 crore. No EBITDA margin was reported. The company reported a net loss of ₹5.58 crore and basic EPS of -₹1.61. These results are standalone figures.

Against Q2 FY26, revenue was unchanged at ₹0 crore and total expenses increased by ₹5.58 crore. EBITDA moved from ₹0 crore to a loss of ₹5.58 crore, while the net result moved from a net loss of ₹0 crore to a net loss of ₹5.58 crore. Basic EPS moved from ₹0 to -₹1.61. The filing also gives half-year figures on a standalone basis.

What changed in IGC Industries' costs and profit?

The cost movement was concentrated in other expenses, which were ₹5.58 crore in Q2 FY27. Cost of materials consumed, employee benefits expense, finance costs and depreciation were each ₹0 crore, while other income was ₹0 crore. Total expenses therefore rose by ₹5.58 crore from Q2 FY26.

Against Q1 FY27, total expenses fell by ₹9.04 crore to ₹5.58 crore, a 61.8% reduction. Other expenses declined by ₹9.04 crore over the same comparison, while revenue, other income, tax, finance costs, depreciation and employee cost were unchanged. No exceptional item was reported. The filing does not state the reason for the expense movement.

How did the first half of FY27 go?

For the first half of FY27, IGC Industries reported total expenses of ₹20.20 crore and a net loss of ₹20.20 crore. H1 FY26 showed a net loss of ₹0 crore, while H1 FY27 basic EPS was -₹5.82 against ₹0 in H1 FY26. Revenue and total income were ₹0 crore in both periods. The H1 FY27 result therefore included a loss where the comparable half-year result was at break-even.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹176.89 lakh, compared with ₹2,145.34 lakh at 31 March 2026. Total equity was ₹1 lakh, down from ₹2,145.34 lakh. Borrowings, inventories and trade receivables were each ₹0 lakh at both dates, while cash and cash equivalents were ₹0.02 lakh against ₹0.32 lakh. Trade payables were ₹1.14 lakh against ₹0.00 lakh.

Cash flow from operating activities for H1 FY27 was negative ₹7.54 lakh, compared with ₹0.03 lakh in H1 FY26. Investing cash flow was ₹7.53 lakh against ₹0 lakh in the earlier period, while financing cash flow was ₹0 lakh in both periods. The filing’s cash flow statement is presented in lakh, while the quarterly results show rupee amounts in the corresponding format.

How has IGC Industries done over the last 8 quarters?

The quarterly profit trend shows a loss of ₹14.62 crore in Q1 FY27, followed by a loss of ₹5.58 crore in Q2 FY27. Earlier, the company reported a loss of ₹2.64 crore in Q4 FY26 and a loss of ₹0.29 crore in Q3 FY26. The lowest profit in the supplied series was the Q1 FY27 loss, while the highest was the ₹0.02 crore profit in Q4 FY25. Revenue was ₹0 crore in each of the last quarters listed, and no EBITDA-margin figures were provided.

What did the auditors point out?

The statutory auditors’ limited-review report included an Emphasis of Matter. The auditors stated that the report was prepared for the exclusive use of the entity, was based on a limited review, and “should not be considered as an audit or certification of factual accuracy.” They also said that they did not assume responsibility to update or revise the report for events after its issuance and that nothing in it should be construed as an assurance of future performance, compliance or financial position. The excerpt does not indicate a qualified opinion or a going-concern conclusion.

How did IGC Industries shares react?

How did other Trading & Distributors companies do?

Among the 25 other Trading & Distributors companies compared for this quarter, the median revenue growth was 46.8%. The available peer data indicate that 21 companies reported higher profit among the 36 peers assessed for profit. The supplied comparison does not provide counts for the other companies whose revenue grew faster or slower than IGC Industries, so those categories cannot be stated from the available facts.