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Shree Rama Newsprint Q2 FY27 results: net loss widens to ₹10.82 crore, revenue up 18.0%
Shree Rama Newsprint Limited reported standalone Q2 FY27 revenue of ₹8.06 crore, up 18.0% from Q2 FY26, while EBITDA turned to a loss of ₹0.28 crore from profit of ₹0.22 crore. The company reported a net loss of ₹10.82 crore and basic EPS of ₹0.73, compared with a net loss of ₹10.20 crore and EPS of ₹0.69 in the year-ago quarter; results were filed with BSE on 5 November 2026.
Key points
- Revenue was ₹8.06 crore, up 18.0% from ₹6.83 crore in Q2 FY26 but down 17.1% from ₹9.72 crore in Q1 FY27.
- EBITDA was a loss of ₹0.28 crore, versus profit of ₹0.22 crore a year earlier, with the margin at -3.4% compared with 3.2%.
- The company reported a net loss of ₹10.82 crore and basic EPS of ₹0.73, compared with a net loss of ₹10.20 crore and EPS of ₹0.69 in Q2 FY26.
- Total expenses rose 10.7% to ₹18.80 crore from ₹16.98 crore, while other income fell 23.3% to ₹1.68 crore.
- H1 FY27 revenue was ₹17.78 crore, up 11.1% from ₹16.0 crore, while the net loss widened to ₹21.32 crore from ₹20.48 crore.
How did Shree Rama Newsprint perform in Q2 FY27?
Shree Rama Newsprint reported standalone revenue of ₹8.06 crore in Q2 FY27, up 18.0% from ₹6.83 crore in Q2 FY26 but down 17.1% from ₹9.72 crore in Q1 FY27. Total income was ₹9.74 crore, against ₹9.02 crore a year earlier and ₹11.39 crore in the previous quarter.
EBITDA was a loss of ₹0.28 crore in Q2 FY27, compared with profit of ₹0.22 crore in Q2 FY26 and a loss of ₹0.75 crore in Q1 FY27. The EBITDA margin was -3.4%, against 3.2% a year earlier and -7.7% in the previous quarter.
The company reported a loss before tax of ₹9.07 crore and a net loss of ₹10.82 crore, with basic EPS of ₹0.73. In Q2 FY26, the loss before tax was ₹7.95 crore and the net loss was ₹10.20 crore, while Q1 FY27 recorded a loss before tax of ₹9.38 crore and a net loss of ₹10.50 crore. The figures are standalone.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 8.06 | 9.72 | 6.83 | +18.0% | −17.1% |
| Other income | 1.68 | 1.67 | 2.19 | −23.3% | +0.6% |
| Total expenses | 18.80 | 20.77 | 16.98 | +10.7% | −9.5% |
| EBITDA | −0.28 | −0.75 | 0.22 | turned to loss | |
| EBITDA margin | -3.4% | -7.7% | 3.2% | −6.6 pp | +4.3 pp |
| Profit before tax | −9.07 | −9.38 | −7.95 | ||
| Tax | 0 | 0 | 0 | ||
| Net profit | −10.82 | −10.50 | −10.20 | ||
| EPS (₹) | −0.73 | −0.72 | −0.69 |
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 Shree Rama Newsprint's costs and profit?
Total expenses rose 10.7% to ₹18.80 crore in Q2 FY27 from ₹16.98 crore in Q2 FY26. Cost of materials increased 60.1% to ₹5.33 crore from ₹3.33 crore, while other expenses rose 2.0% to ₹3.07 crore from ₹3.01 crore. Finance costs were ₹9.42 crore against ₹9.32 crore, employee cost was ₹0.32 crore against ₹0.31 crore, and depreciation was ₹1.05 crore against ₹1.04 crore.
Other income fell 23.3% to ₹1.68 crore from ₹2.19 crore, while total expenses increased by ₹1.82 crore. There was no exceptional item, and tax was unchanged at ₹0 crore. The filing did not state a reason for the increase in material costs or the decline in other income.
Compared with Q1 FY27, total expenses fell 9.5% to ₹18.80 crore from ₹20.77 crore, and cost of materials fell 14.7% to ₹5.33 crore from ₹6.25 crore. Other income was ₹1.68 crore against ₹1.67 crore, finance costs were ₹9.42 crore against ₹9.20 crore, and depreciation was ₹1.05 crore against ₹1.11 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 5.33 | 3.33 | +2 | +60.1% |
| Employee cost | 0.32 | 0.31 | +0.01 | +3.2% |
| Finance costs | 9.42 | 9.32 | +0.10 | +1.1% |
| Depreciation | 1.05 | 1.04 | +0.01 | +1.0% |
| Other expenses | 3.07 | 3.01 | +0.06 | +2.0% |
| Total expenses | 18.80 | 16.98 | +1.82 | +10.7% |
| Other income | 1.68 | 2.19 | −0.51 | −23.3% |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Shree Rama Newsprint reported standalone revenue of ₹17.78 crore, up 11.1% from ₹16.0 crore in H1 FY26. Total income rose 10.2% to ₹21.13 crore from ₹19.17 crore, and basic EPS was ₹1.44 compared with ₹1.39.
The loss before tax widened to ₹18.45 crore from ₹16.06 crore, while the net loss widened to ₹21.32 crore from ₹20.48 crore. The filing reported the results as unaudited.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 17.78 | 16 | +11.1% |
| Profit before tax | −18.45 | −16.06 | |
| Net profit | −21.32 | −20.48 | |
| EPS (₹) | −1.44 | −1.39 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹454.35 crore, down from ₹464.61 crore at 31 March 2026. Total equity was negative ₹103.92 crore against negative ₹82.63 crore, while borrowings rose to ₹386.77 crore from ₹376.27 crore. Cash fell to ₹0.21 crore from ₹0.99 crore.
Inventories were ₹5.36 crore, compared with ₹5.44 crore at 31 March 2026. Trade receivables fell to ₹0.53 crore from ₹5.81 crore, and trade payables rose to ₹11.70 crore from ₹10.79 crore.
H1 FY27 operating cash flow was ₹12.24 crore, compared with negative ₹9.21 crore in H1 FY26. Investing cash flow was ₹0.61 crore against ₹14.36 crore, while financing cash flow was negative ₹13.63 crore against negative ₹4.99 crore. The company reported no capital expenditure in either period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 454.35 | 464.61 |
| Total equity | −103.92 | −82.63 |
| Borrowings | 386.77 | 376.27 |
| Cash and equivalents | 0.21 | 0.99 |
| Inventories | 5.36 | 5.44 |
| Trade receivables | 0.53 | 5.81 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 12.24 | −9.21 |
| Cash from investing | 0.61 | 14.36 |
| Cash from financing | −13.63 | −4.99 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Shree Rama Newsprint done over the last 8 quarters?
Revenue peaked at ₹12.43 crore in Q3 FY25 and bottomed at ₹6.83 crore in Q2 FY26. It subsequently rose to ₹9.72 crore in Q1 FY27 before falling to ₹8.06 crore in Q2 FY27; the company’s revenue rose year on year in each of the last two quarters.
The net loss was largest at ₹80.65 crore in Q3 FY25 and smallest at ₹5.35 crore in Q4 FY25. It widened to ₹10.82 crore in Q2 FY27 from ₹10.50 crore in Q1 FY27. The EBITDA margin bottomed at -22.1% in Q4 FY26 and improved to -3.4% in Q2 FY27 from -7.7% in Q1 FY27.
What did the auditors point out?
Batliboi & Purohit said the review conclusion was not modified in respect of a material uncertainty related to going concern. The auditors drew attention to a total comprehensive loss of ₹2,129.34 lakhs for the half-year ended 30 September 2026 and current liabilities exceeding current assets by ₹16,047.59 lakhs, which indicated a material uncertainty that may cast significant doubt on the company’s ability to continue as a going concern.
The auditors also included an Emphasis of Matter paragraph concerning assets and liabilities of the discontinued Paper Division. The filing stated that the company was disposing of those assets on a piecemeal basis, had recognised a further impairment loss of ₹2,784.33 lakhs during the quarter and year ended 31 March 2026, and that management did not foresee further impairment in this regard. The review conclusion was not modified on either matter.
How did Shree Rama Newsprint shares react?
After the filing appeared in the market, the stock was unchanged after 5 minutes, up 0.1% after 15 minutes and down 1.3% after 30 minutes. On the reaction day, it closed 1.8% above its pre-results close of ₹26.52, against an industry median move of 1.1%, an excess move of 0.7 percentage points. No one-day or five-day cumulative moves were available.
| After the filing | Stock | Beverages median |
|---|---|---|
| 5 minutes | +0.0% | |
| 15 minutes | +0.1% | |
| 30 minutes | −1.3% | |
| Reaction day | +1.8% | +1.1% |
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 |
|---|---|
| 13 August 2026 | −4.8% |
| 25 May 2026 | +1.3% |
| 7 February 2026 | +4.2% |
| 13 November 2025 | +0.3% |
| 12 August 2025 | −2.0% |
| 29 May 2025 | +2.0% |
| 5 February 2025 | −5.1% |
| 11 November 2024 | +2.0% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Shree Rama Newsprint's revenue in Q2 FY27?
Revenue from operations was ₹8.06 crore, up 18.0% from ₹6.83 crore in Q2 FY26 (standalone).
Did Shree Rama Newsprint make a profit in Q2 FY27?
No. It reported a net loss of ₹10.82 crore, against a net loss of ₹10.20 crore in Q2 FY26.
What was Shree Rama Newsprint's EPS in Q2 FY27?
Basic loss per share was ₹0.73, against a loss of ₹0.69 in Q2 FY26.
How did Shree Rama Newsprint shares react to the Q2 FY27 results?
On the reaction day the stock moved +1.8% from the previous close; the median Beverages stock moved +1.1%.
When did Shree Rama Newsprint announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Meeting Of Board Of Directors Of Shree Rama Newsprint Limited ("Company") On Thursday 5Th November, 2026. (BSE, 2 November 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Of Shree Rama Newsprint Ltd (BSE, 5 November 2026) · PDF
- Results- Financial Results For Sep 30, 2026 (BSE, 5 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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