- Home
- Results news
- Shivagrico Implements
- Q2 FY27 results
Shivagrico Implements Q2 FY27 results: net profit down 71.4% to ₹0.04 crore, revenue up 6.2%
Shivagrico Implements Ltd reported standalone Q2 FY27 revenue of ₹11.77 crore, up 6.2% from Q2 FY26, while net profit fell to ₹0.04 crore from ₹0.14 crore. EBITDA was ₹0.55 crore at a 4.6% margin, against 6.6% a year earlier, and basic EPS was ₹0.08.
Key points
- Standalone Q2 FY27 revenue was ₹11.77 crore, up 6.2% from ₹11.08 crore in Q2 FY26 and 1.1% from ₹11.64 crore in Q1 FY27.
- EBITDA was ₹0.55 crore, down 24.7% from ₹0.73 crore a year earlier, while the EBITDA margin declined 2.0 percentage points to 4.6%.
- Net profit was ₹0.04 crore, down 71.4% from ₹0.14 crore in Q2 FY26 and 33.3% from ₹0.06 crore in Q1 FY27.
- Basic EPS was ₹0.08, compared with ₹0.28 in Q2 FY26 and ₹0.12 in Q1 FY27.
- H1 FY27 revenue was ₹23.41 crore, up 2.7% from ₹22.8 crore, while profit after tax was ₹0.1 crore against ₹0.14 crore.
How did Shivagrico Implements perform in Q2 FY27?
Shivagrico Implements reported standalone revenue of ₹11.77 crore in Q2 FY27, up 6.2% from ₹11.08 crore in Q2 FY26 and 1.1% from ₹11.64 crore in Q1 FY27. EBITDA fell 24.7% year on year to ₹0.55 crore from ₹0.73 crore, and its margin was 4.6%, down 2.0 percentage points from 6.6%. Sequentially, EBITDA declined 23.6% from ₹0.72 crore and the margin fell 1.6 percentage points from 6.2%.
Profit before tax was ₹0.06 crore in Q2 FY27, down 71.4% from ₹0.21 crore a year earlier and 25.0% from ₹0.08 crore in Q1 FY27. The company reported a net profit of ₹0.04 crore, compared with ₹0.14 crore in Q2 FY26 and ₹0.06 crore in Q1 FY27. Basic EPS was ₹0.08, against ₹0.28 a year earlier and ₹0.12 in the previous quarter. The filing presented the results on a standalone basis.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 11.77 | 11.64 | 11.08 | +6.2% | +1.1% |
| Other income | 0.11 | 0.09 | 0.09 | +22.2% | +22.2% |
| Total expenses | 11.82 | 11.65 | 10.96 | +7.8% | +1.5% |
| EBITDA | 0.55 | 0.72 | 0.73 | −24.7% | −23.6% |
| EBITDA margin | 4.6% | 6.2% | 6.6% | −2.0 pp | −1.6 pp |
| Profit before tax | 0.06 | 0.08 | 0.21 | −71.4% | −25.0% |
| Tax | 0.02 | 0.02 | 0.07 | −71.4% | +0.0% |
| Net profit | 0.04 | 0.06 | 0.14 | −71.4% | −33.3% |
| EPS (₹) | 0.08 | 0.12 | 0.28 | −71.4% | −33.3% |
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 Shivagrico Implements' costs and profit?
Total expenses rose 7.8% to ₹11.82 crore from ₹10.96 crore in Q2 FY26, exceeding the increase in revenue of ₹0.69 crore. Cost of materials consumed was ₹11.02 crore, up ₹2.17 crore or 24.5%, while other expenses were ₹0.62 crore, up ₹0.26 crore or 72.2%. Finance costs increased by ₹0.03 crore to ₹0.28 crore.
Employee benefits expense declined by ₹0.11 crore to ₹1.51 crore from ₹1.62 crore, while depreciation and amortisation fell by ₹0.05 crore to ₹0.31 crore from ₹0.36 crore. Other income rose by ₹0.02 crore to ₹0.11 crore, and there was no exceptional item. Tax expense was ₹0.02 crore, down ₹0.05 crore from ₹0.07 crore. The filing did not state why costs changed.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 11.02 | 8.85 | +2.17 | +24.5% |
| Employee cost | 1.51 | 1.62 | −0.11 | −6.8% |
| Finance costs | 0.28 | 0.25 | +0.03 | +12.0% |
| Depreciation | 0.31 | 0.36 | −0.05 | −13.9% |
| Other expenses | 0.62 | 0.36 | +0.26 | +72.2% |
| Total expenses | 11.82 | 10.96 | +0.86 | +7.8% |
| Other income | 0.11 | 0.09 | +0.02 | +22.2% |
| Tax | 0.02 | 0.07 | −0.05 | −71.4% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Shivagrico Implements reported revenue of ₹23.41 crore, up 2.7% from ₹22.8 crore in H1 FY26. Total income was ₹23.6 crore, up 2.8% from ₹22.95 crore, while profit before tax fell 50.0% to ₹0.13 crore from ₹0.26 crore. Profit after tax declined 28.6% to ₹0.1 crore from ₹0.14 crore, and basic EPS was ₹0.20 against ₹0.28.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 23.41 | 22.80 | +2.7% |
| Profit before tax | 0.13 | 0.26 | −50.0% |
| Net profit | 0.10 | 0.14 | −28.6% |
| EPS (₹) | 0.20 | 0.28 | −28.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹31.77 crore, compared with ₹28.23 crore at 31 March 2026. Total equity was ₹8.39 crore against ₹8.29 crore, while borrowings were ₹19.37 crore compared with ₹17.57 crore. Cash and cash equivalents remained ₹0.01 crore. Inventories rose to ₹15.41 crore from ₹13.57 crore, trade receivables to ₹3.5 crore from ₹2.9 crore, and trade payables to ₹2.34 crore from ₹0.58 crore.
H1 FY27 operating cash flow was ₹0.07 crore, compared with ₹0.94 crore in H1 FY26. Investing cash flow was negative ₹1.31 crore against negative ₹0.55 crore, financing cash flow was positive ₹1.25 crore against negative ₹0.47 crore, and capital expenditure was ₹1.32 crore compared with ₹0.68 crore. The company did not report closing cash in the provided data.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 31.77 | 28.23 |
| Total equity | 8.39 | 8.29 |
| Borrowings | 19.37 | 17.57 |
| Cash and equivalents | 0.01 | 0.01 |
| Inventories | 15.41 | 13.57 |
| Trade receivables | 3.50 | 2.90 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 0.07 | 0.94 |
| Cash from investing | −1.31 | −0.55 |
| Cash from financing | 1.25 | −0.47 |
| Capital expenditure | 1.32 | 0.68 |
Source: Company's results filing (XBRL).
How has Shivagrico Implements done over the last 8 quarters?
Revenue reached its highest level in the reported series at ₹12.4 crore in Q3 FY26 and its lowest at ₹11.08 crore in Q2 FY26. It was ₹11.77 crore in Q2 FY27, up from ₹11.64 crore in Q1 FY27. The latest quarter remained below Q3 FY26’s peak, while the direction from the previous quarter was higher.
Net profit peaked at ₹0.23 crore in Q4 FY25 and bottomed at ₹0.0 crore in Q1 FY26. It was ₹0.04 crore in Q2 FY27, lower than ₹0.06 crore in Q1 FY27 and ₹0.14 crore in Q2 FY26. The EBITDA margin peaked at 7.0% in Q4 FY26 and fell to 4.6% in Q2 FY27, its lowest level in the reported series.
How did Shivagrico Implements shares react?
Earlier results-day reactions were mixed. The stock was unchanged on 29 May 2026, fell 0.4% on 10 February 2026, fell 6.9% on 13 November 2025, fell 0.2% on 12 August 2025, fell 4.9% on 13 August 2024 and fell 0.3% on 28 May 2024. The largest decline in the listed past reactions was 6.9% on 13 November 2025.
| After the filing | Stock | Industrial Products median |
|---|---|---|
| Reaction day | +0.0% | +0.9% |
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 |
|---|---|
| 29 May 2026 | +0.0% |
| 10 February 2026 | −0.4% |
| 13 November 2025 | −6.9% |
| 12 August 2025 | −0.2% |
| 13 August 2024 | −4.9% |
| 28 May 2024 | −0.3% |
Source: MarketPing price-reaction measurement.
How did other Industrial Products companies do?
Among 56 Industrial Products companies compared for the quarter, the median revenue growth was 30.4%. Thirteen peers grew more slowly than Shivagrico Implements, while 43 grew faster. Of 51 peers for which profit was compared, 39 reported higher profit. The peer figures were available as of 6 November 2026.
| Shivagrico Implements revenue growth (YoY) | +6.2% |
|---|---|
| Median of 56 other Industrial Products companies | +30.4% |
| Companies with slower revenue growth than Shivagrico Implements | 13 of 56 |
| Companies with faster revenue growth than Shivagrico Implements | 43 of 56 |
| Companies whose net profit rose | 39 of 51 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Shivagrico Implements' revenue in Q2 FY27?
Revenue from operations was ₹11.77 crore, up 6.2% from ₹11.08 crore in Q2 FY26 (standalone).
Did Shivagrico Implements make a profit in Q2 FY27?
Yes. Net profit was ₹0.04 crore, against a net profit of ₹0.14 crore in Q2 FY26.
What was Shivagrico Implements' EPS in Q2 FY27?
Basic earnings per share were ₹0.08, against ₹0.28 in Q2 FY26.
How did Shivagrico Implements shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.0% from the previous close; the median Industrial Products stock moved +0.9%.
When did Shivagrico Implements announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
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.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.