Shree Precoated Steels Q2 FY27 results: net loss widens to ₹0.20 crore

How did Shree Precoated Steels perform in Q2 FY27?

Shree Precoated Steels reported standalone revenue of ₹0 crore in Q2 FY27, unchanged from Q2 FY26 and Q1 FY27. EBITDA was a loss of ₹0.20 crore, compared with a loss of ₹0.16 crore in Q2 FY26 and ₹0.14 crore in Q1 FY27; no EBITDA margin percentage was reported. The company reported a net loss of ₹0.20 crore and basic EPS of -₹0.48 for the quarter.

Against Q2 FY26, the net loss widened by ₹0.04 crore and basic EPS declined by ₹0.09 from -₹0.39. Against Q1 FY27, the net loss widened by ₹0.06 crore and basic EPS declined by ₹0.14 from -₹0.34. The reported figures are standalone; the filing excerpt also presents the quarter and half-year results without providing a separate consolidated comparison.

What changed in Shree Precoated Steels' costs and profit?

Total expenses increased to ₹0.20 crore in Q2 FY27 from ₹0.16 crore in Q2 FY26, a rise of ₹0.04 crore or 25.0%. Employee benefit expenses increased by ₹0.03 crore or 27.3% to ₹0.14 crore, while other expenses increased by ₹0.01 crore or 20.0% to ₹0.06 crore. Cost of materials consumed, finance costs and depreciation remained unchanged at ₹0 crore.

Other income and tax were unchanged at ₹0 crore, and there was no exceptional item in Q2 FY27, Q2 FY26 or Q1 FY27. Against the previous quarter, total expenses rose by ₹0.06 crore or 42.9%, employee benefit expenses rose by ₹0.04 crore or 40.0%, and other expenses rose by ₹0.02 crore or 50.0%. The filing did not state a reason for these cost changes.

How did the first half of FY27 go?

Basic EPS for H1 FY27 was -₹0.82, compared with -₹0.68 in H1 FY26. The first-half net loss widened by ₹0.06 crore, while revenue and total income remained unchanged. The filing notes that the accounts were prepared on a going-concern basis despite negative net worth.

What do the balance sheet and cash flow show?

As of 30 September 2026, total assets were ₹1.84 crore, compared with ₹1.77 crore at 31 March 2026. Total equity was negative ₹3.08 crore, compared with negative ₹2.74 crore at the previous balance-sheet date. Borrowings were ₹0 crore, and cash was ₹0.08 crore, compared with ₹0.03 crore at 31 March 2026.

Operating cash flow in H1 FY27 was ₹0.05 crore, compared with negative ₹0.02 crore in H1 FY26. Investing and financing cash flow were ₹0 crore in both periods, and capital expenditure was ₹0 crore. Trade payables were ₹0.01 crore at both balance-sheet dates, while inventories and trade receivables remained ₹0 crore.

How has Shree Precoated Steels done over the last 8 quarters?

The available quarterly trend shows revenue at ₹0 crore throughout the last eight quarters, from Q3 FY25 to Q2 FY27. Profit after tax was negative ₹0.12 crore in Q1 FY26, negative ₹0.18 crore in Q3 FY26, negative ₹0.14 crore in Q4 FY26 and Q1 FY27, and negative ₹0.20 crore in Q2 FY27. EBITDA margin figures were not provided for the trend quarters, so the margin pattern cannot be stated from the available data.

What did the auditors point out?

The statutory auditors issued a limited review report on the unaudited quarter and half-year results. They stated: “We have not performed an audit and accordingly, we do not express an audit opinion.” The review was described as limited primarily to inquiries of company personnel and analytical procedures applied to financial data and as providing less assurance than an audit.

The report included “Material Uncertainty Related to Going Concern”. It said the company’s net worth is negative and that this indicates a material uncertainty that may cast significant doubt on the company’s ability to continue as a going concern. The appropriateness of the assumption depends on the company’s ability to raise finance and generate cash flows in future to meet its obligations; the financial results were nevertheless prepared on a going-concern basis. The auditors said their conclusion was not modified in respect of this matter.

How did Shree Precoated Steels shares react?

The filing was announced on 3 November 2026. The stock was up 0.1% on the reaction day from its previous close of ₹11.54, and by the next day’s close it was up 0.1% from the pre-results close. The industry median moved 2.2% over the same one-day period, so the stock’s move was 2.1 percentage points below the sector median.

How did other Iron & Steel Products companies do?

Twenty-six other Iron & Steel Products companies had filed for the quarter as of 4 November 2026. Their median revenue growth was 23.5%. The peers growing slower than Shree Precoated Steels and those growing faster were not provided in the available facts, so the company’s position against the peer growth distribution cannot be stated numerically.

Among the 30 companies for which profit was compared, 20 reported higher profit. The peer data does not specify the number of peers whose profit was lower or unchanged, so the remaining split cannot be stated from the available figures.