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SHIVAMSHREE BUSINESSES Q2 FY27 results: net loss widens to ₹0.38 crore, revenue down 56.2%
SHIVAMSHREE BUSINESSES LIMITED reported standalone revenue of ₹1.85 crore in Q2 FY27, down 56.2% from ₹4.22 crore a year earlier. The company posted a net loss of ₹0.38 crore and basic EPS of ₹0.05, while the EBITDA margin fell to -11.5% from 3.8% in Q2 FY26.
Key points
- Q2 FY27 standalone revenue was ₹1.85 crore, down ₹2.37 crore or 56.2% from ₹4.22 crore in Q2 FY26.
- EBITDA was a loss of ₹0.21 crore in Q2 FY27, against EBITDA of ₹0.16 crore in Q2 FY26; the margin fell 15.3 percentage points to -11.5%.
- The company reported a net loss of ₹0.38 crore in Q2 FY27, against a net loss of ₹0.03 crore in Q2 FY26, and basic EPS was ₹0.05.
- H1 FY27 revenue was ₹4.50 crore, down 34.9% from ₹6.91 crore in H1 FY26; the net loss narrowed to ₹0.34 crore from ₹0.50 crore.
- Total assets rose to ₹31.65 crore on 30 September 2026 from ₹21.74 crore on 31 March 2026, while borrowings rose to ₹20.60 crore from ₹6.97 crore.
How did SHIVAMSHREE BUSINESSES perform in Q2 FY27?
SHIVAMSHREE BUSINESSES reported standalone revenue of ₹1.85 crore in Q2 FY27, down 56.2% from ₹4.22 crore in Q2 FY26. Total income fell 56.5% to ₹1.85 crore from ₹4.25 crore, while total expenses declined 47.8% to ₹2.24 crore from ₹4.29 crore. EBITDA moved to a loss of ₹0.21 crore from EBITDA of ₹0.16 crore, and the EBITDA margin fell 15.3 percentage points to -11.5%.
Against Q1 FY27, revenue declined 30.2% to ₹1.85 crore from ₹2.65 crore, and EBITDA moved to a loss of ₹0.21 crore from EBITDA of ₹0.22 crore. The EBITDA margin fell 19.8 percentage points to -11.5% from 8.3%. Profit before tax moved to a loss of ₹0.39 crore from profit of ₹0.03 crore, while the company reported a net loss of ₹0.38 crore against net profit of ₹0.04 crore; basic EPS was ₹0.05 against ₹0.01.
The reported figures are standalone. The company’s results for the quarter and half year ended 30 September 2026 were approved by the board without modifications or qualifications after review by the audit committee. The statutory auditor’s limited review report stated that nothing had come to its attention causing it to believe that the interim results were not disclosed as required or contained a material misstatement.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1.85 | 2.65 | 4.22 | −56.2% | −30.2% |
| Other income | 0 | 0 | 0.03 | ||
| Total expenses | 2.24 | 2.62 | 4.29 | −47.8% | −14.5% |
| EBITDA | −0.21 | 0.22 | 0.16 | turned to loss | turned to loss |
| EBITDA margin | -11.5% | 8.3% | 3.8% | −15.3 pp | −19.8 pp |
| Profit before tax | −0.39 | 0.03 | −0.04 | turned to loss | |
| Tax | −0.01 | −0.01 | 0 | ||
| Net profit | −0.38 | 0.04 | −0.03 | turned to loss | |
| EPS (₹) | −0.05 | 0.01 | 0.00 | turned to loss | 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 SHIVAMSHREE BUSINESSES's costs and profit?
The main reported movement in costs was lower operating expenditure. Employee cost fell to ₹0.19 crore in Q2 FY27 from ₹0.95 crore in Q2 FY26, a decline of ₹0.76 crore or 80.0%. Other expenses fell by ₹0.87 crore or 79.1% to ₹0.23 crore, while depreciation declined by ₹0.06 crore or 26.1% to ₹0.17 crore. Finance costs were ₹0.01 crore against ₹0 crore, and the cost of materials was unchanged at ₹0 crore.
Other income declined by ₹0.03 crore to ₹0 crore from ₹0.03 crore in Q2 FY26. There was no exceptional item in either quarter. Tax was a credit of ₹0.01 crore in Q2 FY27 against a credit of ₹0 crore in the year-ago quarter. The filing does not state a reason for the change in the company’s sales or operating performance.
The cost reductions did not offset the fall in revenue and other income. Total expenses were ₹2.24 crore in Q2 FY27 compared with ₹4.29 crore in Q2 FY26, while total income was ₹1.85 crore compared with ₹4.25 crore. As a result, EBITDA moved from ₹0.16 crore to a loss of ₹0.21 crore, and PBT moved from a loss of ₹0.04 crore to a loss of ₹0.39 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.19 | 0.95 | −0.76 | −80.0% |
| Finance costs | 0.01 | 0 | +0.01 | |
| Depreciation | 0.17 | 0.23 | −0.06 | −26.1% |
| Other expenses | 0.23 | 1.10 | −0.87 | −79.1% |
| Total expenses | 2.24 | 4.29 | −2.05 | −47.8% |
| Other income | 0 | 0.03 | −0.03 | |
| Tax | −0.01 | 0 | −0.01 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, standalone revenue was ₹4.50 crore, down 34.9% from ₹6.91 crore in H1 FY26. Total income fell 35.0% to ₹4.51 crore from ₹6.94 crore. PBT was a loss of ₹0.36 crore, compared with a loss of ₹0.20 crore in H1 FY26, while basic EPS was ₹0.05 compared with ₹0.07.
The net loss narrowed to ₹0.34 crore in H1 FY27 from ₹0.50 crore in H1 FY26, an improvement of ₹0.16 crore. The first-half figures are standalone and cover the period ended 30 September 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 4.50 | 6.91 | −34.9% |
| Profit before tax | −0.36 | −0.20 | |
| Net profit | −0.34 | −0.50 | |
| EPS (₹) | −0.05 | −0.07 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets rose to ₹31.65 crore on 30 September 2026 from ₹21.74 crore on 31 March 2026. Total equity fell to ₹7.93 crore from ₹8.27 crore, while borrowings rose to ₹20.60 crore from ₹6.97 crore. Cash and cash equivalents increased to ₹0.16 crore from ₹0.14 crore; inventories declined to ₹4.75 crore from ₹5.48 crore, trade receivables to ₹0.75 crore from ₹1.29 crore, and trade payables to ₹2.73 crore from ₹6.12 crore.
For H1 FY27, operating cash flow was negative ₹3.71 crore, compared with negative ₹4.52 crore in H1 FY26. Investing cash flow was negative ₹9.94 crore against negative ₹1.12 crore, while financing cash flow was ₹13.62 crore against ₹5.58 crore. Capital expenditure was ₹9.69 crore in H1 FY27, compared with ₹1.14 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 31.65 | 21.74 |
| Total equity | 7.93 | 8.27 |
| Borrowings | 20.60 | 6.97 |
| Cash and equivalents | 0.16 | 0.14 |
| Inventories | 4.75 | 5.48 |
| Trade receivables | 0.75 | 1.29 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −3.71 | −4.52 |
| Cash from investing | −9.94 | −1.12 |
| Cash from financing | 13.62 | 5.58 |
| Capital expenditure | 9.69 | 1.14 |
Source: Company's results filing (XBRL).
How has SHIVAMSHREE BUSINESSES done over the last 8 quarters?
Revenue reached its highest point in the reported period in Q4 FY26 at ₹4.57 crore, while its lowest was ₹1.29 crore in Q3 FY25. It fell to ₹1.85 crore in Q2 FY27 from ₹2.65 crore in Q1 FY27, continuing the lower direction seen after Q4 FY26.
Profit followed a different path: the company reported net profit of ₹0.64 crore in Q4 FY26, compared with a net loss of ₹0.38 crore in Q2 FY27. EBITDA margin peaked at 16.4% in Q4 FY26 and was -11.5% in Q2 FY27, after the lowest reported margin of -32.6% in Q4 FY25. The latest quarter therefore followed the Q1 FY27 margin of 8.3% with a move back into negative territory.
Which businesses drove the quarter?
The reported Manufacturing of Industrial bags segment generated revenue of ₹1.85 crore in Q2 FY27, down 56.0% from ₹4.21 crore in Q2 FY26. Segment EBIT was a loss of ₹0.04 crore, compared with EBIT of ₹0.15 crore in the year-ago quarter, and the reported EBIT margin was -2.3%.
The Trading and Manufacturing of Solar Power Generating System and ancillaries segment reported EBIT of a loss of ₹0.17 crore. Its revenue was ₹0 crore, and no year-ago revenue, EBIT or growth figure was provided for comparison.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Trading and Manufacturing of Solar Power Generating System and ancillaries | 0 | −0.17 | ||
| Manufacturing of Industrial bags | 1.85 | −56.0% | −0.04 | -2.3% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the standalone unaudited financial results for the quarter and half year ended 30 September 2026. The results had been reviewed by the audit committee and were approved without modifications or qualifications. The board meeting began at 04:05 PM and concluded at 04:30 PM on 22 October 2026.
The company also reported the resignation of director Arunaben Prafulkumar Bavishiya, effective from the close of business on 22 October 2026. She cited other pre-existing commitments and confirmed that there was no other material reason. No dividend, fund-raising or other appointment was reported in the same-day filings.
How did SHIVAMSHREE BUSINESSES shares react?
The results were filed after market hours. From the pre-results close of ₹1.79, the stock fell 0.6% on the reaction day. By the next day’s close it was down 12.3%, and by the fifth session it was down 6.1%; these were cumulative moves from the same pre-results close. No 5-minute, 15-minute or 30-minute moves were available.
| After the filing | Stock |
|---|---|
| Reaction day | −0.6% |
| Next day | −12.3% |
| 5 days | −6.1% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
Quick answers
What was SHIVAMSHREE BUSINESSES's revenue in Q2 FY27?
Revenue from operations was ₹1.85 crore, down 56.2% from ₹4.22 crore in Q2 FY26 (standalone).
Did SHIVAMSHREE BUSINESSES make a profit in Q2 FY27?
No. It reported a net loss of ₹0.38 crore, against a net loss of ₹0.03 crore in Q2 FY26.
What was SHIVAMSHREE BUSINESSES's EPS in Q2 FY27?
Basic loss per share was ₹0.05, against ₹0.00 in Q2 FY26.
How did SHIVAMSHREE BUSINESSES shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.6% from the previous close.
When did SHIVAMSHREE BUSINESSES announce its Q2 FY27 results?
On 22 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering And Approving Unaudited Standalone Financial Results Of The Company For Quarter And Half Year Ended September 30, 2026. (BSE, 17 October 2026) · PDF
- Board Meeting Outcome for Board Meeting Outcome For Unaudited Standalone Financial Results Of The Company For The Quarter And Half Year Ended On 30Th September, 2026 (BSE, 22 October 2026) · PDF
- Unaudited Standalone Financial Results Of The Company For The Quarter And Half Year Ended On 30Th September, 2026 (BSE, 22 October 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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