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ISF Q2 FY27 results: net profit down 45.5% to ₹0.06 crore, revenue down 31.1%
ISF Limited reported standalone revenue of ₹0.31 crore and a net profit of ₹0.06 crore in Q2 FY27. Revenue fell 31.1% from the year-ago quarter, while profit before tax fell 50.0%; against Q1 FY27, revenue declined and profit rose.
Key points
- Revenue was ₹0.31 crore in Q2 FY27, down 31.1% from ₹0.45 crore in Q2 FY26 and 8.8% from ₹0.34 crore in Q1 FY27.
- Profit before tax was ₹0.08 crore, down 50.0% from ₹0.16 crore a year earlier and up 60.0% from ₹0.05 crore in the previous quarter.
- Net profit was ₹0.06 crore, down 45.5% from ₹0.11 crore in Q2 FY26 and up 100.0% from ₹0.03 crore in Q1 FY27.
- H1 FY27 revenue was ₹0.65 crore, down 26.1% from ₹0.88 crore in H1 FY26, while net profit was ₹0.10 crore, down 16.7% from ₹0.12 crore.
- The board approved borrowing of up to ₹11 crore, including existing and proposed borrowings, for business purposes.
How did ISF perform in Q2 FY27?
ISF Limited’s standalone revenue for Q2 FY27 was ₹0.31 crore, down 31.1% from ₹0.45 crore in Q2 FY26 and 8.8% from ₹0.34 crore in Q1 FY27. Total income was ₹0.31 crore, down 11.4% from ₹0.35 crore in the previous quarter. Profit before tax was ₹0.08 crore, compared with ₹0.16 crore a year earlier and ₹0.05 crore in Q1 FY27.
The company reported a net profit of ₹0.06 crore in Q2 FY27, down 45.5% from ₹0.11 crore in Q2 FY26 but up 100.0% from ₹0.03 crore in Q1 FY27. Net profit margin was 20.0%, compared with 25.4% a year earlier and 9.9% in the previous quarter. Basic EPS was ₹0, against ₹0.01 in Q2 FY26 and ₹0 in Q1 FY27. EBITDA and EBITDA margin were not given. The figures are standalone.
The board approved the unaudited quarterly and half-year financial statements for the period ended 30 September 2026, along with the limited review report. The statutory auditors issued an unmodified opinion on the standalone unaudited results.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0.31 | 0.34 | 0.45 | −31.1% | −8.8% |
| Other income | 0 | 0.01 | 0 | ||
| Total expenses | 0.23 | 0.30 | 0.29 | −20.7% | −23.3% |
| Profit before tax | 0.08 | 0.05 | 0.16 | −50.0% | +60.0% |
| Tax | 0.02 | 0.01 | 0.04 | −50.0% | +100.0% |
| Net profit | 0.06 | 0.03 | 0.11 | −45.5% | +100.0% |
| EPS (₹) | 0.00 | 0.00 | 0.01 |
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 ISF's costs and profit?
Total expenses fell 20.7% from ₹0.29 crore in Q2 FY26 to ₹0.23 crore in Q2 FY27. Employee cost declined 45.5% to ₹0.06 crore from ₹0.11 crore, other expenses fell 8.3% to ₹0.11 crore from ₹0.12 crore, and finance costs remained unchanged at ₹0.06 crore. Depreciation remained unchanged at ₹0 crore and there was no exceptional item.
Other income remained unchanged at ₹0 crore from a year earlier. Tax expense fell 50.0% to ₹0.02 crore from ₹0.04 crore. Against Q1 FY27, total expenses fell 23.3% to ₹0.23 crore, employee cost fell 40.0% to ₹0.06 crore, finance costs fell 25.0% to ₹0.06 crore, and other expenses fell 15.4% to ₹0.11 crore; other income fell to ₹0 crore from ₹0.01 crore. The filing did not state reasons for these changes.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Employee cost | 0.06 | 0.11 | −0.05 | −45.5% |
| Finance costs | 0.06 | 0.06 | 0 | +0.0% |
| Depreciation | 0 | 0 | 0 | |
| Other expenses | 0.11 | 0.12 | −0.01 | −8.3% |
| Total expenses | 0.23 | 0.29 | −0.06 | −20.7% |
| Other income | 0 | 0 | 0 | |
| Tax | 0.02 | 0.04 | −0.02 | −50.0% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, ISF reported revenue of ₹0.65 crore, down 26.1% from ₹0.88 crore in H1 FY26. Total income was ₹0.66 crore, down 25.0% from ₹0.88 crore, while profit before tax was ₹0.13 crore, down 18.8% from ₹0.16 crore.
Net profit for H1 FY27 was ₹0.10 crore, down 16.7% from ₹0.12 crore in H1 FY26. EPS remained ₹0.01 in both periods. The figures are standalone.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 0.65 | 0.88 | −26.1% |
| Profit before tax | 0.13 | 0.16 | −18.8% |
| Net profit | 0.10 | 0.12 | −16.7% |
| EPS (₹) | 0.01 | 0.01 | +0.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹13.85 crore, compared with ₹14.24 crore at 31 March 2026. Total equity was ₹11.85 crore, against ₹11.76 crore at the previous balance sheet date. Borrowings and cash balances were not given, so the figures are not mentioned.
For H1 FY27, operating cash flow was ₹0.8 crore, compared with ₹0.91 crore in H1 FY26. Investing cash flow was ₹0 crore in both periods, while financing cash flow was -₹0.83 crore, compared with -₹0.73 crore a year earlier. Capital expenditure was ₹0 crore in both periods, and the closing cash balance was not given.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 13.85 | 14.24 |
| Total equity | 11.85 | 11.76 |
| Cash and equivalents | 0 | 0 |
| Inventories | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 0.80 | 0.91 |
| Cash from investing | 0 | 0 |
| Cash from financing | −0.83 | −0.73 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has ISF done over the last 8 quarters?
Revenue increased from ₹0.42 crore in Q3 FY25 to ₹0.50 crore in Q4 FY25, then moved lower through the subsequent quarters before reaching ₹0.31 crore in Q2 FY27. Q2 FY27 was the lowest quarterly revenue in the eight-quarter series, while Q4 FY25 was the highest.
Net profit moved from a net loss of ₹0.24 crore in Q3 FY25 to ₹0.19 crore in Q4 FY25, then ranged between a net loss of ₹1.88 crore in Q4 FY26 and ₹0.11 crore in Q2 FY26. It rose to ₹0.03 crore in Q1 FY27 and ₹0.06 crore in Q2 FY27. EBITDA margin figures were not given, so the margin trend could not be stated.
What else did the company announce?
On 23 October 2026, the board approved raising borrowings through loans, inter-corporate deposits or other permissible modes from banks, financial institutions, body corporates or other eligible persons, up to ₹11 crore, including existing and proposed borrowings. The company said the borrowings would be used for business purposes and could be repayable on demand or under the respective agreements.
The board also approved the Grievance Redressal Policy. The same-day filings did not report a dividend, fund raise through equity, or any appointment. The board noted the internal audit report and quarterly listing compliances, and the company filed certificates that specified SEBI Listing Regulations were not applicable.
How did ISF shares react?
The filing appeared after market hours. From the previous close of ₹0.73, the stock rose 8.2% on the reaction day and was up 2.7% from that pre-results close by the next day’s close. By the fifth session, the cumulative move from the pre-results close was 0.0%.
| After the filing | Stock | Non Banking Financial Company (NBFC) median |
|---|---|---|
| Reaction day | +8.2% | −0.4% |
| Next day | +2.7% | +0.0% |
| 5 days | +0.0% | +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 |
|---|---|
| 8 August 2026 | +5.7% |
| 15 May 2026 | −4.4% |
| 19 January 2026 | +1.1% |
| 14 November 2025 | −4.9% |
| 5 August 2025 | +2.7% |
| 20 May 2025 | −4.6% |
| 3 August 2024 | −1.5% |
| 30 April 2024 | −2.8% |
Source: MarketPing price-reaction measurement.
How did other Non Banking Financial Company (NBFC) companies do?
Among 77 NBFC companies compared, the median revenue growth was 21.6%. Six peers grew more slowly than ISF, while 71 grew faster. Of 85 peers for which profit was compared, 57 reported higher profit. The peer figures were as of 4 November 2026.
| ISF revenue growth (YoY) | −31.1% |
|---|---|
| Median of 77 other Non Banking Financial Company (NBFC) companies | +21.6% |
| Companies with slower revenue growth than ISF | 6 of 77 |
| Companies with faster revenue growth than ISF | 71 of 77 |
| Companies whose net profit rose | 57 of 85 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was ISF's revenue in Q2 FY27?
Revenue from operations was ₹0.31 crore, down 31.1% from ₹0.45 crore in Q2 FY26 (standalone).
Did ISF make a profit in Q2 FY27?
Yes. Net profit was ₹0.06 crore, against a net profit of ₹0.11 crore in Q2 FY26.
What was ISF's EPS in Q2 FY27?
Basic earnings per share were ₹0.00, against ₹0.01 in Q2 FY26.
How did ISF shares react to the Q2 FY27 results?
On the reaction day the stock moved +8.2% from the previous close; the median Non Banking Financial Company (NBFC) stock moved −0.4%.
When did ISF announce its Q2 FY27 results?
On 23 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for The Meeting Of Board Of Directors Of ISF Limited (The Company) Is Scheduled To Be Held On Friday 23Rd October, 2026 At 3:30 PM (BSE, 15 October 2026) · PDF
- Results- Financial Results For Quarter Ended 30Th September, 2026 (BSE, 23 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On 23Rd October, 2026 (BSE, 23 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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