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S Chand And Company Q2 FY27 results: net loss widens to ₹66.90 crore, revenue down 3.1%
S Chand And Company Limited reported consolidated revenue of ₹47.82 crore in Q2 FY27, down 3.1% from Q2 FY26, with a net loss of ₹66.90 crore. EBITDA was a loss of ₹77.79 crore and the margin was -162.7%, while management attributed higher expenses partly to marketing and printing brought forward into the seasonally smaller quarter.
Key points
- Consolidated revenue was ₹47.82 crore in Q2 FY27, down 3.1% from ₹49.35 crore in Q2 FY26.
- The company reported an EBITDA loss of ₹77.79 crore in Q2 FY27, against a loss of ₹60.15 crore a year earlier.
- The EBITDA margin fell to -162.7% from -121.9%, a decline of 40.8 percentage points.
- A net loss of ₹66.90 crore widened from ₹53.59 crore in Q2 FY26; basic EPS was -₹18.72.
- Management said FY27 operating revenue growth is targeted at 10%-15% and the EBITDA margin band at 17%-19%.
How did S Chand And Company perform in Q2 FY27?
S Chand And Company reported consolidated revenue of ₹47.82 crore in Q2 FY27, down ₹1.53 crore or 3.1% from ₹49.35 crore in Q2 FY26. Total income was ₹52.73 crore, up ₹0.95 crore or 1.8%, while the EBITDA loss widened by ₹17.64 crore to ₹77.79 crore. The EBITDA margin declined by 40.8 percentage points to -162.7%.
The net loss widened by ₹13.31 crore to ₹66.90 crore from ₹53.59 crore in Q2 FY26, and basic EPS was -₹18.72 against -₹14.96. Against Q1 FY27, revenue fell ₹66.73 crore to ₹47.82 crore, the EBITDA loss widened by ₹68.12 crore to ₹77.79 crore, and the net loss increased by ₹48.17 crore to ₹66.90 crore. On the standalone basis, revenue was ₹28.89 crore and the net loss was ₹17.55 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 47.82 | 114.55 | 49.35 | −3.1% | −58.3% |
| Other income | 4.91 | 3.93 | 2.44 | +101.2% | +24.9% |
| Total expenses | 138.73 | 137.52 | 122.72 | +13.0% | +0.9% |
| EBITDA | −77.79 | −9.67 | −60.15 | ||
| EBITDA margin | -162.7% | -8.4% | -121.9% | −40.8 pp | −154.3 pp |
| Profit before tax | −86 | −19.05 | −70.93 | ||
| Tax | −19.10 | −0.32 | −17.34 | ||
| Net profit | −66.90 | −18.73 | −53.59 | ||
| EPS (₹) | −18.72 | −5.07 | −14.96 |
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 S Chand And Company's costs and profit?
Total expenses were ₹138.73 crore in Q2 FY27, up ₹16.01 crore or 13.0% from ₹122.72 crore in Q2 FY26. Cost of materials increased by ₹7.53 crore to ₹28 crore, employee cost by ₹4 crore to ₹51.17 crore, finance costs by ₹0.28 crore to ₹2.86 crore and other expenses by ₹10.27 crore to ₹46.57 crore, while depreciation fell by ₹0.38 crore to ₹10.26 crore. Other income rose by ₹2.47 crore to ₹4.91 crore, and there was no exceptional item.
The loss before tax widened by ₹15.07 crore to ₹86 crore from ₹70.93 crore, while tax expense increased by ₹1.76 crore to ₹19.10 crore from ₹17.34 crore. Management said ₹50m-Rs60m of marketing spend that historically occurred in Q3 was moved into Q2, contributing to higher other expenses, EBITDA losses and PAT losses. Management also said paper purchases and part of printing were advanced amid double-digit paper-price inflation.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 28 | 20.47 | +7.53 | +36.8% |
| Employee cost | 51.17 | 47.17 | +4 | +8.5% |
| Finance costs | 2.86 | 2.58 | +0.28 | +10.9% |
| Depreciation | 10.26 | 10.64 | −0.38 | −3.6% |
| Other expenses | 46.57 | 36.30 | +10.27 | +28.3% |
| Total expenses | 138.73 | 122.72 | +16.01 | +13.0% |
| Other income | 4.91 | 2.44 | +2.47 | +101.2% |
| Tax | −19.10 | −17.34 | −1.76 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
Consolidated revenue in H1 FY27 was ₹162.37 crore, up ₹10.4 crore or 6.8% from ₹151.97 crore in H1 FY26. Total income rose by ₹12.66 crore or 8.0% to ₹171.21 crore from ₹158.55 crore, while the loss before tax widened by ₹15.9 crore to ₹105.05 crore. The net loss increased by ₹17.97 crore to ₹85.63 crore from ₹67.66 crore, and basic EPS was -₹23.8 against -₹18.73.
The company’s presentation said H1 revenue was up 7% and gross margins were up 9%. Management attributed the higher H1 other expenses to the movement of certain marketing activities from Q3 to Q2, which it said increased EBITDA and PAT losses. It also said billed content-licensing revenue for AI datasets was Rs147m during H1 FY27, compared with Rs142m during H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 162.37 | 151.97 | +6.8% |
| Profit before tax | −105.05 | −89.15 | |
| Net profit | −85.63 | −67.66 | |
| EPS (₹) | −23.80 | −18.73 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹1,208.13 crore, down from ₹1,395.38 crore at 31 March 2026, while total equity was ₹951.03 crore against ₹1,050.75 crore. Borrowings declined to ₹69.97 crore from ₹88.36 crore, and cash fell to ₹13.04 crore from ₹104.46 crore. Inventories rose to ₹217.79 crore from ₹163.38 crore, trade receivables fell to ₹210.46 crore from ₹350.33 crore, and trade payables fell to ₹102.57 crore from ₹155.31 crore.
H1 FY27 operating cash flow was negative ₹67.33 crore, compared with negative ₹38.75 crore in H1 FY26. Investing cash flow was positive ₹19.69 crore against negative ₹20.48 crore, financing cash flow was negative ₹43.76 crore against negative ₹3.47 crore, and capital expenditure was ₹8.79 crore against ₹21.4 crore. Management said the company remained net cash positive with a net cash balance of Rs95m, compared with Rs235m in Q2 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,208 | 1,395 |
| Total equity | 951.03 | 1,051 |
| Borrowings | 69.97 | 88.36 |
| Cash and equivalents | 13.04 | 104.46 |
| Inventories | 217.79 | 163.38 |
| Trade receivables | 210.46 | 350.33 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −67.33 | −38.75 |
| Cash from investing | 19.69 | −20.48 |
| Cash from financing | −43.76 | −3.47 |
| Capital expenditure | 8.79 | 21.40 |
Source: Company's results filing (XBRL).
How has S Chand And Company done over the last 8 quarters?
Revenue peaked at ₹547.82 crore in Q4 FY26 and bottomed at ₹47.82 crore in Q2 FY27. Profit followed the same broad pattern, reaching ₹169.49 crore in Q4 FY26 before falling to a net loss of ₹66.90 crore in Q2 FY27. The EBITDA margin peaked at 44.9% in Q4 FY26 and fell to -162.7% in the latest quarter.
Revenue and profit have moved lower since Q4 FY26, with Q1 FY27 recording revenue of ₹114.55 crore and a net loss of ₹18.73 crore. The following quarter’s revenue was ₹47.82 crore and the net loss was ₹66.90 crore, while the EBITDA margin moved from -8.4% to -162.7%. Management said Q2 is seasonally the company’s smallest revenue quarter and that School and Higher Education sales were steady year on year.
What else did the company announce?
On 5 November 2026, the board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026 and noted the limited review reports, which carried an unmodified opinion. The board also approved a corporate guarantee of up to Rs. 28.00 crores in favour of State Bank of India for renewal of a cash-credit facility proposed by wholly owned subsidiary Vikas Publishing House Private Limited. It appointed Mr. Sharad Talwar, a Non-Executive Independent Director, as Chairman of the Board.
The company filed its Q2 FY27 investor presentation alongside the results, with the update stating that sales rose 7%, inventory increased and FY27 EBITDA margin guidance was 17%-19%. The board also considered other business matters when it convened on 5 November 2026. The earlier board-meeting intimation dated 27 October 2026 said the trading window remained closed until 48 hours after the results were declared.
What did S Chand And Company's management say?
Management said Q2 FY27 was steady for the School and Higher Education segments on a year-on-year basis, but described it as the company’s smallest revenue quarter and the period in which key marketing initiatives for the upcoming sales season are executed. It said FY27 operating revenues are expected to grow 10%-15%, excluding acquisitions during the year, and that the EBITDA margin guidance is 17%-19%.
Management said content-licensing revenue for AI datasets is targeted above Rs400m for FY27 and that H1 FY27 billing was Rs147m, against Rs142m in H1 FY26. It said additional AI-dataset licensing deals, digital businesses and inorganic opportunities are priorities, while the CPD Singapore acquisition is intended to expand the K-12 International Board offering.
Management said it advanced paper purchases and printing because it saw double-digit inflation in paper prices ahead. It said this increased inventory and working-capital days, which are expected to normalise by Q4, while receivable days are expected to improve. Management also cited seasonality and the shift of ₹50m-Rs60m of marketing spend into Q2 as factors affecting expenses, losses and operating cash flow.
Quick answers
What was S Chand And Company's revenue in Q2 FY27?
Revenue from operations was ₹47.82 crore, down 3.1% from ₹49.35 crore in Q2 FY26 (consolidated).
Did S Chand And Company make a profit in Q2 FY27?
No. It reported a net loss of ₹66.90 crore, against a net loss of ₹53.59 crore in Q2 FY26.
What was S Chand And Company's EPS in Q2 FY27?
Basic loss per share was ₹18.72, against a loss of ₹14.96 in Q2 FY26.
When did S Chand And Company announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of Unaudited Standalone & Consolidated Financial Results And Other General Matters (BSE, 27 October 2026) · PDF
- Board Meeting Outcome for Board Meeting Outcome For Approval Of Financial Results For The Quarter And Half Year Ended September 30, 2026 And Other General Matters (BSE, 5 November 2026) · PDF
- Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 5 November 2026) · PDF
- The investor presentation (5 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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