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Indo Thai Securities Q2 FY27 results: net loss of ₹35.83 crore vs ₹14.41 crore profit, revenue down 68.1%
Indo Thai Securities Limited reported consolidated revenue of ₹7.56 crore in Q2 FY27, down 68.1% from Q2 FY26, while EBITDA turned to a loss of ₹42.77 crore and net loss was ₹35.83 crore. In H1 FY27, revenue fell 62.1% to ₹14.3 crore and the company reported a net loss of ₹24.81 crore. On a standalone basis, Q2 FY27 revenue was ₹7.54 crore and the net loss was ₹35.58 crore.
Key points
- Consolidated Q2 FY27 revenue was ₹7.56 crore, down 68.1% from ₹23.71 crore in Q2 FY26.
- EBITDA was a loss of ₹42.77 crore in Q2 FY27, compared with ₹19.97 crore in the year-ago quarter; the margin was -565.9%.
- Net loss was ₹35.83 crore and basic EPS was -₹2.70 in Q2 FY27, compared with a net profit of ₹14.41 crore and EPS of ₹1.20 in Q2 FY26.
- H1 FY27 revenue was ₹14.3 crore, down 62.1% from ₹37.76 crore in H1 FY26, while PAT was a loss of ₹24.81 crore.
- Total assets were ₹333.73 crore and total equity was ₹276.58 crore at 30 September 2026; the stock was down 5.6% on the reaction day.
How did Indo Thai Securities perform in Q2 FY27?
Indo Thai Securities reported consolidated revenue of ₹7.56 crore in Q2 FY27, down 68.1% from ₹23.71 crore in Q2 FY26 and 63.3% from ₹20.62 crore in Q1 FY27. EBITDA was a loss of ₹42.77 crore, compared with ₹19.97 crore a year earlier and ₹15.84 crore in the previous quarter. The EBITDA margin was -565.9%, against 84.2% in Q2 FY26 and 76.8% in Q1 FY27.
The company reported a net loss of ₹35.83 crore in Q2 FY27, compared with a net profit of ₹14.41 crore in Q2 FY26 and ₹11.03 crore in Q1 FY27. Basic EPS was -₹2.70, against ₹1.20 in the year-ago quarter and ₹0.86 in the previous quarter. On a standalone basis, revenue was ₹7.54 crore and the net loss was ₹35.58 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 7.56 | 20.62 | 23.71 | −68.1% | −63.3% |
| Other income | 0.16 | 0.15 | 0.06 | +166.7% | +6.7% |
| Total expenses | 50.98 | 5.87 | 4.33 | +1077.4% | +768.5% |
| EBITDA | −42.77 | 15.84 | 19.97 | turned to loss | turned to loss |
| EBITDA margin | -565.9% | 76.8% | 84.2% | −650.1 pp | −642.7 pp |
| Profit before tax | −43.26 | 14.89 | 19.44 | turned to loss | turned to loss |
| Tax | −7.43 | 3.87 | 5.04 | ||
| Net profit | −35.83 | 11.03 | 14.41 | turned to loss | turned to loss |
| EPS (₹) | −2.70 | 0.86 | 1.20 | 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 Indo Thai Securities' costs and profit?
Total expenses were ₹50.98 crore in Q2 FY27, up ₹46.65 crore from ₹4.33 crore in Q2 FY26 and 1077.4%. Employee cost fell ₹0.03 crore to ₹1.75 crore, finance costs were unchanged at ₹0.45 crore, depreciation rose ₹0.06 crore to ₹0.20 crore, and other expenses rose ₹0.35 crore to ₹1.36 crore. There was no exceptional item.
Other income increased by ₹0.10 crore to ₹0.16 crore from ₹0.06 crore in Q2 FY26. Despite the higher other income, EBITDA moved down by ₹62.74 crore to a loss of ₹42.77 crore, and PBT moved down by ₹62.70 crore to a loss of ₹43.26 crore. Tax was a credit of ₹7.43 crore, compared with ₹5.04 crore in the year-ago quarter. The available figures do not state the reason for the expense increase.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 1.75 | 1.78 | −0.03 | −1.7% |
| Finance costs | 0.45 | 0.45 | 0 | +0.0% |
| Depreciation | 0.20 | 0.14 | +0.06 | +42.9% |
| Other expenses | 1.36 | 1.01 | +0.35 | +34.7% |
| Total expenses | 50.98 | 4.33 | +46.65 | +1077.4% |
| Other income | 0.16 | 0.06 | +0.10 | +166.7% |
| Tax | −7.43 | 5.04 | −12.47 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹14.3 crore, down ₹23.46 crore or 62.1% from ₹37.76 crore in H1 FY26. Total income was ₹14.61 crore, down ₹23.4 crore or 61.6% from ₹38.01 crore. PBT moved from ₹29.24 crore to a loss of ₹28.37 crore, while PAT moved from ₹22.98 crore to a loss of ₹24.81 crore.
Basic EPS was -₹1.90 in H1 FY27, compared with ₹1.93 in H1 FY26. The first-half revenue and total income both fell sharply, and the period moved from profit before tax and after tax to losses.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 14.30 | 37.76 | −62.1% |
| Profit before tax | −28.37 | 29.24 | turned to loss |
| Net profit | −24.81 | 22.98 | turned to loss |
| EPS (₹) | −1.90 | 1.93 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
H1 FY27 operating cash flow was ₹26.74 crore, compared with ₹7.05 crore in H1 FY26. Investing cash flow was a cash outflow of ₹20.51 crore, compared with an outflow of ₹13.11 crore, while financing cash flow was an outflow of ₹6.76 crore, compared with an inflow of ₹13.78 crore. Capital expenditure was ₹0 crore in H1 FY27, compared with ₹0.16 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 333.73 | 374.09 |
| Total equity | 276.58 | 286.79 |
| Cash and equivalents | 2.76 | 3.29 |
| Inventories | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 26.74 | 7.05 |
| Cash from investing | −20.51 | −13.11 |
| Cash from financing | −6.76 | 13.78 |
| Capital expenditure | 0 | 0.16 |
Source: Company's results filing (XBRL).
How has Indo Thai Securities done over the last 8 quarters?
Revenue rose from ₹5.54 crore in Q3 FY25 to a peak of ₹38.34 crore in Q4 FY26, then fell to ₹20.62 crore in Q1 FY27 and ₹7.56 crore in Q2 FY27. PAT followed a similar path, moving from ₹0.91 crore in Q3 FY25 to a peak of ₹26.18 crore in Q4 FY26 before declining to ₹11.03 crore and then a loss of ₹35.83 crore.
The EBITDA margin reached 85.4% in Q4 FY26, compared with 84.2% in Q2 FY26 and 83.9% in Q3 FY26, but fell to 76.8% in Q1 FY27 and -565.9% in Q2 FY27. The available trend therefore shows revenue, PAT and margin moving lower in the latest quarter after peaking in Q4 FY26.
Which businesses drove the quarter?
Equities, broking and other related activities reported revenue of ₹7.58 crore and an EBIT loss of ₹42.77 crore in Q2 FY27, with an EBIT margin of -564.1%. Year-ago revenue and EBIT for this segment were not reported. Real estate activities reported revenue of ₹0.10 crore, up 36.1% from ₹0.07 crore, and EBIT of ₹0.02 crore, compared with ₹0.12 crore a year earlier.
Manufacturing (Environmental Technology) activities reported revenue of ₹0.03 crore and an EBIT loss of ₹0.02 crore, with an EBIT margin of -62.9%. Year-ago revenue and EBIT for this segment were not reported.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Equities, broking & other related activities | 7.58 | −42.77 | -564.1% | |
| Real estate activities | 0.10 | +36.1% | 0.02 | 22.3% |
| Manufacturing (Environmental Technology) activities | 0.03 | −0.02 | -62.9% |
Source: Company's results filing (XBRL segment data).
How did Indo Thai Securities shares react?
The filing was announced after market hours on 22 October 2026. Indo Thai Securities fell 1.9% within five minutes of the filing appearing, while the reaction-day close was down 5.6% from the previous close of ₹32.89. By the next day's close, the stock was down 10.3% from that pre-results close, and by the five-session close it was down 12.4%.
Earlier reaction-day moves were -1.4% on 20 July 2026, -2.8% on 7 May 2026, 1.8% on 13 January 2026, 4.7% on 14 October 2025, 2.1% on 2 August 2025, -3.0% on 30 May 2025, 0.3% on 25 January 2025, and -1.1% on 26 October 2024.
| After the filing | Stock | Stockbroking & Allied median |
|---|---|---|
| 5 minutes | −1.9% | |
| 15 minutes | −1.9% | |
| 30 minutes | −1.9% | |
| Reaction day | −5.6% | −1.9% |
| Next day | −10.3% | −1.7% |
| 5 days | −12.4% | −1.5% |
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 |
|---|---|
| 20 July 2026 | −1.4% |
| 7 May 2026 | −2.8% |
| 13 January 2026 | +1.8% |
| 14 October 2025 | +4.7% |
| 2 August 2025 | +2.1% |
| 30 May 2025 | −3.0% |
| 25 January 2025 | +0.3% |
| 26 October 2024 | −1.1% |
Source: MarketPing price-reaction measurement.
How did other Stockbroking & Allied companies do?
Among 27 other Stockbroking & Allied companies that had filed for the quarter, the median revenue growth was 16.8%. All 27 grew revenue faster than Indo Thai Securities, while none grew slower than the company. The peer figures are as of 4 November 2026.
Of the 26 peers for which profit was compared, 16 reported higher profit than a year earlier. Indo Thai Securities' Q2 FY27 revenue growth was below the peer median, and it reported a net loss for the quarter.
| Indo Thai Securities revenue growth (YoY) | −68.1% |
|---|---|
| Median of 27 other Stockbroking & Allied companies | +16.8% |
| Companies with slower revenue growth than Indo Thai Securities | 0 of 27 |
| Companies with faster revenue growth than Indo Thai Securities | 27 of 27 |
| Companies whose net profit rose | 16 of 26 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Indo Thai Securities' revenue in Q2 FY27?
Revenue from operations was ₹7.56 crore, down 68.1% from ₹23.71 crore in Q2 FY26 (consolidated).
Did Indo Thai Securities make a profit in Q2 FY27?
No. It reported a net loss of ₹35.83 crore, against a net profit of ₹14.41 crore in Q2 FY26.
What was Indo Thai Securities' EPS in Q2 FY27?
Basic loss per share was ₹2.70, against ₹1.20 in Q2 FY26.
How did Indo Thai Securities shares react to the Q2 FY27 results?
On the reaction day the stock moved −5.6% from the previous close; the median Stockbroking & Allied stock moved −1.9%.
When did Indo Thai Securities announce its Q2 FY27 results?
On 22 October 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 22 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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