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Onida Electronics Q2 FY27 results: net loss widens to ₹39.85 crore, revenue down 34.7%
Onida Electronics Limited reported standalone revenue of ₹198.63 crore in Q2 FY27, up 8.9% from Q1 FY27 but down 34.7% from Q2 FY26. The company reported a net loss of ₹39.85 crore and an EBITDA loss of ₹27.92 crore, with the quarterly loss widening from Q1 FY27.
Key points
- Standalone Q2 FY27 revenue was ₹198.63 crore, down 34.7% year on year from ₹304.16 crore and up 8.9% from ₹182.41 crore.
- EBITDA was a loss of ₹27.92 crore in Q2 FY27, compared with a loss of ₹25.34 crore in Q2 FY26 and ₹11.43 crore in Q1 FY27.
- The net loss widened to ₹39.85 crore from ₹14.27 crore in Q2 FY26 and ₹14.18 crore in Q1 FY27; basic EPS was a loss of ₹1.05.
- Total expenses were ₹231.36 crore, including an exceptional charge of ₹8.03 crore, while other income was ₹0.91 crore.
- Onida Electronics said brand revenue grew 65% year on year in Q2 FY27, with air conditioner revenue up 239% and e-commerce revenue up 169% in H1 FY27.
How did Onida Electronics perform in Q2 FY27?
Onida Electronics’ standalone revenue from operations was ₹198.63 crore in Q2 FY27, compared with ₹304.16 crore in Q2 FY26 and ₹182.41 crore in Q1 FY27. Total income was ₹199.55 crore, down ₹107.08 crore from the year-ago quarter and up ₹14.73 crore from the previous quarter. The company’s investor presentation separately reported brand revenue of ₹150.4 crore and total income of ₹199.5 crore for the quarter.
The company reported an EBITDA loss of ₹27.92 crore in Q2 FY27, compared with a loss of ₹25.34 crore in Q2 FY26 and ₹11.43 crore in Q1 FY27. EBITDA margin was -14.1%, compared with -8.3% and -6.3%, respectively. A net loss of ₹39.85 crore was reported, widening by ₹25.58 crore from Q2 FY26 and ₹25.67 crore from Q1 FY27; basic EPS was a loss of ₹1.05.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 198.63 | 182.41 | 304.16 | −34.7% | +8.9% |
| Other income | 0.91 | 2.41 | 2.47 | −63.2% | −62.2% |
| Total expenses | 231.36 | 199 | 341.46 | −32.2% | +16.3% |
| EBITDA | −27.92 | −11.43 | −25.34 | ||
| EBITDA margin | -14.1% | -6.3% | -8.3% | −5.8 pp | −7.8 pp |
| Profit before tax | −39.85 | −14.18 | −14.27 | ||
| Tax | 0 | 0 | 0 | ||
| Net profit | −39.85 | −14.18 | −14.27 | ||
| EPS (₹) | −1.05 | −0.38 | −0.51 |
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 Onida Electronics' costs and profit?
Total expenses fell ₹110.10 crore, or 32.2%, from ₹341.46 crore in Q2 FY26 to ₹231.36 crore in Q2 FY27. Cost of materials was lower by ₹20.24 crore, employee cost by ₹4.29 crore, finance costs by ₹5.67 crore, depreciation by ₹1.49 crore and other expenses by ₹73.88 crore. Other income was lower by ₹1.56 crore, and there was no tax expense in either quarter.
The year-ago quarter included an exceptional gain of ₹20.56 crore, while Q2 FY27 included an exceptional charge of ₹8.03 crore. Against Q1 FY27, total expenses were higher by ₹32.36 crore, including cost of materials up ₹12.34 crore and employee cost up ₹3.75 crore; other expenses were lower by ₹1.02 crore and finance costs by ₹0.43 crore. Other income was lower by ₹1.50 crore, while tax remained unchanged.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 31.51 | 51.75 | −20.24 | −39.1% |
| Employee cost | 22.99 | 27.28 | −4.29 | −15.7% |
| Finance costs | 3.03 | 8.70 | −5.67 | −65.2% |
| Depreciation | 1.77 | 3.26 | −1.49 | −45.7% |
| Other expenses | 27.82 | 101.70 | −73.88 | −72.6% |
| Total expenses | 231.36 | 341.46 | −110.10 | −32.2% |
| Other income | 0.91 | 2.47 | −1.56 | −63.2% |
| Tax | 0 | 0 | 0 | |
| Exceptional items | −8.03 (charge) | +20.56 (gain) |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets rose to ₹549.21 crore at 30 September 2026 from ₹523.62 crore at 31 March 2026, while total equity fell to ₹196.58 crore from ₹237.78 crore. Borrowings were ₹67.2 crore, down from ₹73.89 crore, and cash and cash equivalents were ₹4.28 crore, down from ₹13.47 crore. Inventories increased to ₹213.03 crore from ₹141.17 crore; trade receivables were ₹137.56 crore and trade payables ₹231.66 crore.
For the first half of FY27, operating cash flow was negative ₹45.66 crore, compared with negative ₹60.59 crore in H1 FY26. Investing cash flow was positive ₹42.91 crore against positive ₹26.99 crore, while financing cash flow was negative ₹6.44 crore against positive ₹31.33 crore. Capital expenditure was ₹3.14 crore, compared with ₹14.08 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 549.21 | 523.62 |
| Total equity | 196.58 | 237.78 |
| Borrowings | 67.20 | 73.89 |
| Cash and equivalents | 4.28 | 13.47 |
| Inventories | 213.03 | 141.17 |
| Trade receivables | 137.56 | 137.32 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −45.66 | −60.59 |
| Cash from investing | 42.91 | 26.99 |
| Cash from financing | −6.44 | 31.33 |
| Capital expenditure | 3.14 | 14.08 |
Source: Company's results filing (XBRL).
How has Onida Electronics done over the last 8 quarters?
Onida Electronics’ quarterly results remained loss-making through the reported period. Revenue reached its high of ₹304.16 crore in Q2 FY26 and its low of ₹140.85 crore in Q1 FY26. It stood at ₹198.63 crore in Q2 FY27, above Q1 FY27 but below the Q2 FY26 peak.
Profit bottomed at a loss of ₹47.36 crore in Q4 FY26, while the only profit in the series was ₹1.18 crore in Q4 FY25. The loss was ₹39.85 crore in Q2 FY27, wider than ₹14.18 crore in Q1 FY27. EBITDA margin reached its low of -14.1% in Q2 FY27 and its high of -0.2% in Q4 FY25.
What else did the company announce?
The board approved the appointment of Rajan Vaidya as an additional independent director for five years with effect from 14 November 2026, subject to shareholder approval. Arvind Sharma was to cease to be an independent director with effect from 13 November 2026, the company said. The board also approved a grant of 400,000 employee stock options under the MIRC Electronics Employee Stock Option Plan, 2023.
The company allotted 22,060 equity shares of Re. 1 each on the exercise of vested employee stock options at an exercise price of ₹14.10 per share. It also approved a change in its registered office with effect from 16 November 2026 and called an extraordinary general meeting for 5 February 2027 to seek approvals for the matters set out in the notice. The same-day investor communication reported brand revenue of ₹150.4 crore in Q2 FY27.
What did Onida Electronics' management say?
Management remained cautious on input costs and the unresolved situation in West Asia. It said commodity and component prices were rising across the industry and that competitive intensity could limit the pass-through of costs. The CFO said some categories faced an impact of around 200–400 basis points where full cost escalation was not passed on to channel partners or consumers. Management expected positive festive-season demand on encouraging early consumer sentiment, with peak Diwali sellout typically confined to about a week.
How did Onida Electronics shares react?
Earlier reaction-day moves were positive on 7 August 2026, 20 May 2026, 13 August 2025 and 20 May 2025, at 1.3%, 2.4%, 1.5% and 1.9%, respectively. They were negative on 11 February 2026, 12 November 2025, 14 February 2025 and 13 August 2024, at 5.2%, 2.0%, 4.2% and 5.7%, respectively.
| After the filing | Stock |
|---|---|
| 5 minutes | −1.2% |
| 15 minutes | −1.2% |
| 30 minutes | −0.4% |
| Reaction day | +0.0% |
| Next day | +1.3% |
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 |
|---|---|
| 7 August 2026 | +1.3% |
| 20 May 2026 | +2.4% |
| 11 February 2026 | −5.2% |
| 12 November 2025 | −2.0% |
| 13 August 2025 | +1.5% |
| 20 May 2025 | +1.9% |
| 14 February 2025 | −4.2% |
| 13 August 2024 | −5.7% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Onida Electronics' revenue in Q2 FY27?
Revenue from operations was ₹198.63 crore, down 34.7% from ₹304.16 crore in Q2 FY26 (standalone).
Did Onida Electronics make a profit in Q2 FY27?
No. It reported a net loss of ₹39.85 crore, against a net loss of ₹14.27 crore in Q2 FY26.
What was Onida Electronics' EPS in Q2 FY27?
Basic loss per share was ₹1.05, against a loss of ₹0.51 in Q2 FY26.
How did Onida Electronics shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.0% from the previous close.
When did Onida Electronics announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of Unaudited Financial Results For The Second Quarter And Half Year Ended September 30 ,2026 (BSE, 28 October 2026) · PDF
- Board Meeting Outcome for Unaudited Financial Results For The Second Quarter And Half Year Ended 30.09.2026 (BSE, 3 November 2026) · PDF
- Unaudited Financial Results For Second Quarter And Half Year Ended 30.09.2026 (BSE, 3 November 2026) · PDF
- The earnings call (4 November 2026)
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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