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MIDAAS FASHIONS Q2 FY27 results: net loss narrows to ₹0.01 crore
MIDAAS FASHIONS LIMITED reported standalone revenue of ₹0.07 crore in Q2 FY27, against no revenue in the year-ago quarter, but recorded a net loss of ₹0.01 crore and a negative EBITDA margin of 52.6%. The result was announced after market hours on 3 November 2026, and by the next day's close the stock was down 0.2% from its pre-results close.
Key points
- Standalone revenue was ₹0.07 crore in Q2 FY27, against no revenue in Q2 FY26 and ₹0.06 crore in Q1 FY27.
- The company reported a net loss of ₹0.01 crore in Q2 FY27, compared with a net loss of ₹0.48 crore in Q2 FY26.
- EBITDA margin was -52.6% in Q2 FY27, against -45.5% in Q1 FY27.
- Basic EPS was -0.02 in Q2 FY27, against 0.02 in Q1 FY27 and -1.09 in Q2 FY26.
- Total expenses rose to ₹0.10 crore from ₹0.01 crore in the year-ago quarter, with other expenses at ₹0.09 crore.
How did MIDAAS FASHIONS perform in Q2 FY27?
MIDAAS FASHIONS reported standalone revenue of ₹0.07 crore for Q2 FY27, the July–September 2026 quarter, against no revenue in the year-ago quarter and ₹0.06 crore in Q1 FY27. Total income was ₹0.09 crore, higher than the year-ago quarter and unchanged from the previous quarter. EBITDA was negative ₹0.04 crore, with a margin of -52.6%.
Profit moved the other way from the previous quarter. The company reported a net loss of ₹0.01 crore in Q2 FY27, against a net profit of ₹0.01 crore in Q1 FY27, while the year-ago quarter had a net loss of ₹0.48 crore. Basic EPS was -0.02, against 0.02 in the previous quarter and -1.09 in Q2 FY26. The results are on a standalone basis, and the filing notes the company has no subsidiary, associate or joint venture entity for the period.
On the consolidated basis, no figures were given. The board approved the unaudited standalone financial results for the quarter and half year ended 30 September 2026, and the statutory auditors issued a limited review report with an unmodified conclusion.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0.07 | 0.06 | 0 | +16.7% | |
| Other income | 0.03 | 0.03 | 0 | +0.0% | |
| Total expenses | 0.10 | 0.08 | 0.01 | +900.0% | +25.0% |
| EBITDA | −0.04 | −0.03 | −0.01 | ||
| EBITDA margin | -52.6% | -45.5% | −7.1 pp | ||
| Profit before tax | −0.01 | 0.01 | −0.48 | turned to loss | |
| Tax | 0 | 0 | 0 | ||
| Net profit | −0.01 | 0.01 | −0.48 | turned to loss | |
| EPS (₹) | −0.02 | 0.02 | −1.09 | 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 MIDAAS FASHIONS's costs and profit?
The main movement in profit came from the exceptional item recorded in the year-ago quarter. Q2 FY26 included an exceptional charge of ₹0.47 crore, while Q2 FY27 had no exceptional item. Profit before tax was a loss of ₹0.01 crore in Q2 FY27 against a loss of ₹0.48 crore in Q2 FY26, a difference of ₹0.47 crore.
Total expenses rose to ₹0.10 crore from ₹0.01 crore in the year-ago quarter, a difference of ₹0.09 crore. Other expenses were ₹0.09 crore against no other expenses in Q2 FY26, while employee cost was unchanged at ₹0.01 crore. Cost of materials, finance costs and depreciation were unchanged. Other income was ₹0.03 crore against no other income a year earlier, and tax was unchanged.
Against the previous quarter, other expenses rose by ₹0.02 crore to ₹0.09 crore and total expenses rose by ₹0.02 crore to ₹0.10 crore. Employee cost fell by ₹0.01 crore to ₹0.01 crore. Other income was unchanged at ₹0.03 crore and there was no exceptional item in either quarter.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.01 | 0.01 | 0 | +0.0% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0 | 0 | 0 | |
| Other expenses | 0.09 | 0 | +0.09 | |
| Total expenses | 0.10 | 0.01 | +0.09 | +900.0% |
| Other income | 0.03 | 0 | +0.03 | |
| Tax | 0 | 0 | 0 | |
| Exceptional items | none | −0.47 (charge) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, MIDAAS FASHIONS reported revenue of ₹0.12 crore against ₹0.00 crore in H1 FY26. Total income rose to ₹0.18 crore from ₹0.12 crore, an increase of 50.0%.
Profit before tax moved to a loss of ₹0.00 crore from a loss of ₹0.41 crore in H1 FY26, and profit after tax likewise moved to a loss of ₹0.00 crore from a loss of ₹0.41 crore. EPS was 0.00 for the first half, against -0.13 in H1 FY26. The half-year figures are standalone, and the exceptional charge of ₹0.47 crore was in the year-ago period.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 0.12 | 0 | |
| Profit before tax | 0 | −0.41 | turned to profit |
| Net profit | 0 | −0.41 | turned to profit |
| EPS (₹) | 0.00 | −0.13 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹1.12 crore as on 30 September 2026, against ₹1.13 crore as on 31 March 2026. Total equity was negative ₹2.26 crore at both dates. Borrowings were unchanged at ₹0.33 crore, while cash rose to ₹0.19 crore from ₹0.04 crore. Trade receivables were ₹0.16 crore against ₹0.15 crore, and trade payables were ₹0.01 crore against ₹0.03 crore.
Cash flow from operations in the first half of FY27 was ₹0.15 crore, against negative ₹0.03 crore in H1 FY26. Investing cash flow was ₹0.00 crore in both periods, and financing cash flow was ₹0.00 crore against ₹0.06 crore a year earlier. Capital expenditure was ₹0.00 crore in both periods.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1.12 | 1.13 |
| Total equity | −2.26 | −2.26 |
| Borrowings | 0.33 | 0.33 |
| Cash and equivalents | 0.19 | 0.04 |
| Inventories | 0 | 0 |
| Trade receivables | 0.16 | 0.15 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 0.15 | −0.03 |
| Cash from investing | 0 | 0 |
| Cash from financing | 0 | 0.06 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has MIDAAS FASHIONS done over the last 8 quarters?
Revenue rose to ₹0.07 crore in Q2 FY27 from ₹0.06 crore in Q1 FY27 and ₹0.05 crore in Q4 FY26, after no revenue in the three quarters to September 2025. The recent direction was higher, though the base was small.
Profit was not on the same path. Q2 FY27 recorded a net loss of ₹0.01 crore, following a net profit of ₹0.01 crore in Q1 FY27 and ₹0.09 crore in Q4 FY26. Over the longer window, the bottom was the net loss of ₹0.48 crore in Q2 FY26, and the peak in the given series was ₹0.07 crore of profit in Q1 FY26.
The EBITDA margin was -52.6% in Q2 FY27, against -45.5% in Q1 FY27 and 41.3% in Q4 FY26. The margin turned negative after the Q4 FY26 level and moved further below zero in the latest quarter.
How did MIDAAS FASHIONS shares react?
The results were announced after market hours on 3 November 2026, with the prior close at ₹99.98. By the next day's close the stock was down 0.2% from its pre-results close. No reaction-day, five-minute, fifteen-minute, thirty-minute or five-day figures were given.
| After the filing | Stock | Commodity Chemicals median |
|---|---|---|
| Next day | −0.2% | +0.9% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
How did other Commodity Chemicals companies do?
Of the 27 other Commodity Chemicals companies compared this quarter, the median revenue growth was 25.3%. 23 of the 30 peers compared on profit reported higher profit.
| MIDAAS FASHIONS revenue growth (YoY) | not comparable |
|---|---|
| Median of 27 other Commodity Chemicals companies | +25.3% |
| Companies whose net profit rose | 23 of 30 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was MIDAAS FASHIONS's revenue in Q2 FY27?
Revenue from operations was ₹0.07 crore, against ₹0 crore in Q2 FY26 (standalone).
Did MIDAAS FASHIONS make a profit in Q2 FY27?
No. It reported a net loss of ₹0.01 crore, against a net loss of ₹0.48 crore in Q2 FY26.
What was MIDAAS FASHIONS's EPS in Q2 FY27?
Basic loss per share was ₹0.02, against a loss of ₹1.09 in Q2 FY26.
When did MIDAAS FASHIONS announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of The Unaudited Financial Results Of The Company For The Quarter And Half Year Ended 30Th September, 2026. (BSE, 29 October 2026) · PDF
- Board Meeting Outcome for Outcome Of The Board Meeting Held On Tuesday, 03Rd November, 2026. (BSE, 3 November 2026) · PDF
- Consideration And Approval For Unaudited Financial Result For The Quarter And Half Year Ended 30-09-2026. (BSE, 3 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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