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Primo Chemicals Q2 FY27 results: net loss of ₹0.41 crore vs ₹4.16 crore profit, revenue up 0.1%
Primo Chemicals Limited reported consolidated revenue of ₹134.84 crore in Q2 FY27, broadly unchanged from Q2 FY26, while EBITDA fell 58.9% and the company posted a net loss of ₹0.41 crore. Against Q1 FY27, revenue fell 3.9%, EBITDA fell 69.8% and basic EPS declined to ₹0.01.
Key points
- Consolidated Q2 FY27 revenue was ₹134.84 crore, up 0.1% from ₹134.74 crore in Q2 FY26 but down 3.9% from Q1 FY27.
- EBITDA was ₹6.29 crore, down 58.9% from Q2 FY26 and 69.8% from Q1 FY27, while EBITDA margin fell to 4.7%.
- The company reported a net loss of ₹0.41 crore in Q2 FY27, against a net profit of ₹4.16 crore in Q2 FY26 and ₹4.68 crore in Q1 FY27.
- H1 FY27 revenue was ₹275.12 crore, down 0.6% from H1 FY26, while PBT fell 68.6% to ₹2.76 crore and PAT fell 48.2% to ₹4.27 crore.
- At 30 September 2026, total assets were ₹863.94 crore, total equity was ₹401.58 crore and borrowings were ₹218.68 crore; cash was ₹0.34 crore.
How did Primo Chemicals perform in Q2 FY27?
Primo Chemicals reported consolidated revenue of ₹134.84 crore for Q2 FY27, up 0.1% from ₹134.74 crore in Q2 FY26 but down 3.9% from ₹140.28 crore in Q1 FY27. EBITDA was ₹6.29 crore, down 58.9% year on year and 69.8% sequentially, while the EBITDA margin fell to 4.7% from 11.4% and 14.8%.
The company recorded a net loss of ₹0.41 crore in Q2 FY27, compared with a net profit of ₹4.16 crore in Q2 FY26 and ₹4.68 crore in Q1 FY27. Basic EPS was ₹0.01, down from ₹0.17 and ₹0.19, respectively. On a standalone basis, revenue was ₹122.17 crore, down 9.3%, while PAT before exceptional items was ₹2.75 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 134.84 | 140.28 | 134.74 | +0.1% | −3.9% |
| Other income | 5.04 | 5.24 | 4.46 | +13.0% | −3.8% |
| Total expenses | 145.98 | 136.65 | 137.50 | +6.2% | +6.8% |
| EBITDA | 6.29 | 20.80 | 15.30 | −58.9% | −69.8% |
| EBITDA margin | 4.7% | 14.8% | 11.4% | −6.7 pp | −10.1 pp |
| Profit before tax | −6.10 | 8.86 | 1.70 | turned to loss | turned to loss |
| Tax | −5.74 | 5.22 | −1.05 | ||
| Net profit | −0.41 | 4.68 | 4.16 | turned to loss | turned to loss |
| EPS (₹) | 0.01 | 0.19 | 0.17 | −94.1% | −94.7% |
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 Primo Chemicals' costs and profit?
Total expenses rose ₹8.48 crore year on year to ₹145.98 crore, led by a ₹6.82 crore increase in cost of materials to ₹94.72 crore. Other expenses increased ₹1.65 crore to ₹21.67 crore, while depreciation rose ₹0.24 crore to ₹13.47 crore. Finance costs fell ₹0.86 crore to ₹3.96 crore and employee costs edged up ₹0.02 crore to ₹11.67 crore.
Other income rose ₹0.58 crore to ₹5.04 crore, but the company reported no exceptional item in either Q2 FY27 or Q2 FY26. The tax line moved from a ₹1.05 crore credit in Q2 FY26 to a ₹5.74 crore credit in Q2 FY27, a difference of ₹4.69 crore. The filing did not state the reasons for the changes in costs or the tax credit.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 94.72 | 87.90 | +6.82 | +7.8% |
| Employee cost | 11.67 | 11.65 | +0.02 | +0.2% |
| Finance costs | 3.96 | 4.82 | −0.86 | −17.8% |
| Depreciation | 13.47 | 13.23 | +0.24 | +1.8% |
| Other expenses | 21.67 | 20.02 | +1.65 | +8.2% |
| Total expenses | 145.98 | 137.50 | +8.48 | +6.2% |
| Other income | 5.04 | 4.46 | +0.58 | +13.0% |
| Tax | −5.74 | −1.05 | −4.69 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue was ₹275.12 crore, down ₹1.57 crore or 0.6% from H1 FY26, while total income was ₹285.40 crore, down ₹1.02 crore or 0.4%. PBT fell ₹6.03 crore or 68.6% to ₹2.76 crore, and PAT fell ₹3.97 crore or 48.2% to ₹4.27 crore.
Basic EPS for H1 FY27 was ₹0.18, down ₹0.16 or 47.1% from ₹0.34 in H1 FY26. The filing did not provide an explanation for the lower profit.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 275.12 | 276.69 | −0.6% |
| Profit before tax | 2.76 | 8.79 | −68.6% |
| Net profit | 4.27 | 8.24 | −48.2% |
| EPS (₹) | 0.18 | 0.34 | −47.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹863.94 crore, up from ₹692.48 crore at 31 March 2026, while total equity was ₹401.58 crore, down from ₹406.17 crore. Borrowings rose to ₹218.68 crore from ₹130.59 crore, and cash fell to ₹0.34 crore from ₹1.02 crore. Inventories were ₹54.28 crore and trade receivables were ₹134.19 crore, compared with ₹33.04 crore and ₹31.80 crore, respectively.
H1 FY27 operating cash flow was ₹35.48 crore, compared with ₹25.01 crore in H1 FY26. Investing cash flow was negative ₹36.91 crore against negative ₹12.91 crore, financing cash flow was positive ₹0.61 crore against negative ₹11.46 crore, and capital expenditure was ₹32.31 crore compared with ₹15.94 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 863.94 | 692.48 |
| Total equity | 401.58 | 406.17 |
| Borrowings | 218.68 | 130.59 |
| Cash and equivalents | 0.34 | 1.02 |
| Inventories | 54.28 | 33.04 |
| Trade receivables | 134.19 | 31.80 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 35.48 | 25.01 |
| Cash from investing | −36.91 | −12.91 |
| Cash from financing | 0.61 | −11.46 |
| Capital expenditure | 32.31 | 15.94 |
Source: Company's results filing (XBRL).
How has Primo Chemicals done over the last 8 quarters?
Revenue peaked at ₹155.42 crore in Q4 FY25 and was ₹134.84 crore in Q2 FY27, after reaching ₹144.86 crore in Q4 FY26. It rose to ₹140.28 crore in Q1 FY27 before falling in the latest quarter, which was nearly level with Q2 FY26.
PAT reached its low of a loss of ₹0.41 crore in Q2 FY27, equal to the Q4 FY25 level, after a net profit of ₹6.07 crore in Q4 FY26 and ₹4.68 crore in Q1 FY27. EBITDA margin also fell to 4.7% in Q2 FY27 from 14.8% in Q1 FY27; its reported peak was 15.4% in Q4 FY25.
How did Primo Chemicals shares react?
After the filing, Primo Chemicals’ shares fell 6.1% within 5 minutes, 2.7% within 15 minutes and 5.0% within 30 minutes from the price when the results appeared. The stock closed the reaction day down 6.2%, and by the next day’s close it was down 2.5% from its pre-results close. The Commodity Chemicals industry median was unchanged on the reaction day and up 0.7% by the next close.
Earlier reaction-day moves were negative on all six listed dates: 8.6% on 14 August 2026, 0.8% on 5 May 2026, 2.8% on 12 February 2026, 4.7% on 14 November 2025, 4.5% on 14 August 2025 and 1.8% on 30 May 2025.
| After the filing | Stock | Commodity Chemicals median |
|---|---|---|
| 5 minutes | −6.1% | |
| 15 minutes | −2.7% | |
| 30 minutes | −5.0% | |
| Reaction day | −6.2% | +0.0% |
| Next day | −2.5% | +0.7% |
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 |
|---|---|
| 14 August 2026 | −8.6% |
| 5 May 2026 | −0.8% |
| 12 February 2026 | −2.8% |
| 14 November 2025 | −4.7% |
| 14 August 2025 | −4.5% |
| 30 May 2025 | −1.8% |
Source: MarketPing price-reaction measurement.
How did other Commodity Chemicals companies do?
Among 14 Commodity Chemicals companies compared for the quarter, the median revenue growth was 20.4%. Two peers grew revenue more slowly than Primo Chemicals and 12 grew faster. Of 17 peers for which profit was compared, 13 reported higher profit. The peer figures were available as of 4 November 2026.
| Primo Chemicals revenue growth (YoY) | +0.1% |
|---|---|
| Median of 14 other Commodity Chemicals companies | +20.4% |
| Companies with slower revenue growth than Primo Chemicals | 2 of 14 |
| Companies with faster revenue growth than Primo Chemicals | 12 of 14 |
| Companies whose net profit rose | 13 of 17 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Primo Chemicals' revenue in Q2 FY27?
Revenue from operations was ₹134.84 crore, up 0.1% from ₹134.74 crore in Q2 FY26 (consolidated).
Did Primo Chemicals make a profit in Q2 FY27?
No. It reported a net loss of ₹0.41 crore, against a net profit of ₹4.16 crore in Q2 FY26.
What was Primo Chemicals' EPS in Q2 FY27?
Basic earnings per share were ₹0.01, against ₹0.17 in Q2 FY26.
How did Primo Chemicals shares react to the Q2 FY27 results?
On the reaction day the stock moved −6.2% from the previous close; the median Commodity Chemicals stock moved +0.0%.
When did Primo Chemicals announce its Q2 FY27 results?
On 2 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Approval Of Unaudited Financial Results (Standalone & Consolidated) For The Quarter And Half Year Ended 30Th September, 2026 (BSE, 26 October 2026) · PDF
- Outcome of Board Meeting (NSE, 2 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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