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Shrenik Q2 FY27 results: net loss of ₹0.13 crore vs ₹0.22 crore profit, revenue down 34.0%
Shrenik Limited reported standalone revenue of ₹5.62 crore for Q2 FY27, down from ₹8.51 crore in Q2 FY26 and ₹6.26 crore in Q1 FY27. The company reported a net loss of ₹0.13 crore, compared with a net profit of ₹0.22 crore in the year-ago quarter, while basic EPS was ₹0.00.
Key points
- Q2 FY27 standalone revenue was ₹5.62 crore, down 34.0% from ₹8.51 crore in Q2 FY26 and down 10.2% from ₹6.26 crore in Q1 FY27.
- The company reported an EBITDA loss of ₹0.13 crore in Q2 FY27, compared with an EBITDA loss of ₹0.63 crore in Q1 FY27 and an EBITDA loss of ₹0.33 crore in Q2 FY26.
- Q2 FY27 net profit was a loss of ₹0.13 crore, against a profit of ₹0.22 crore in Q2 FY26 and a loss of ₹0.20 crore in Q1 FY27.
- H1 FY27 revenue was ₹12.32 crore, down 14.1% from ₹14.34 crore in H1 FY26, while the company reported a net loss of ₹0.33 crore against a net profit of ₹0.15 crore.
- The results were standalone; the filing states that Shrenik was undergoing the Corporate Insolvency Resolution Process as of 5 November 2026.
How did Shrenik perform in Q2 FY27?
Shrenik reported standalone revenue of ₹5.62 crore in Q2 FY27, down 34.0% from ₹8.51 crore in Q2 FY26 and down 10.2% from ₹6.26 crore in Q1 FY27. Total income was ₹5.62 crore, compared with ₹9.06 crore in the year-ago quarter and ₹6.69 crore in the previous quarter. EBITDA was a loss of ₹0.13 crore, with an EBITDA margin of -2.3%, against a loss of ₹0.33 crore and -3.9% in Q2 FY26 and a loss of ₹0.63 crore and -10.1% in Q1 FY27.
Profit before tax and net profit were both a loss of ₹0.13 crore in Q2 FY27. This compares with a profit of ₹0.22 crore in Q2 FY26 and a loss of ₹0.20 crore in Q1 FY27. Basic EPS was ₹0.00, unchanged from the year-ago quarter and the previous quarter. The filing identifies the results as standalone and says the quarter and half-year figures were approved by the Resolution Professional on 5 November 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 5.62 | 6.26 | 8.51 | −34.0% | −10.2% |
| Other income | 0 | 0.43 | 0.55 | ||
| Total expenses | 5.75 | 6.89 | 8.84 | −35.0% | −16.5% |
| EBITDA | −0.13 | −0.63 | −0.33 | ||
| EBITDA margin | -2.3% | -10.1% | -3.9% | +1.6 pp | +7.8 pp |
| Profit before tax | −0.13 | −0.20 | 0.22 | turned to loss | |
| Tax | 0 | 0 | 0 | ||
| Net profit | −0.13 | −0.20 | 0.22 | turned to loss | |
| EPS (₹) | 0.00 | 0.00 | 0.00 |
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 Shrenik's costs and profit?
Total expenses for Q2 FY27 were ₹5.75 crore, down 35.0% from ₹8.84 crore in Q2 FY26 and down 16.5% from ₹6.89 crore in Q1 FY27. Employee cost was ₹0.01 crore, while finance costs, depreciation and cost of materials were each ₹0 crore. Other expenses were ₹0.13 crore, up 225.0% from ₹0.04 crore in the year-ago quarter but down 45.8% from ₹0.24 crore in the previous quarter.
Other income was ₹0 crore in Q2 FY27, compared with ₹0.55 crore in Q2 FY26 and ₹0.43 crore in Q1 FY27. Tax was ₹0 crore in Q2 FY27 and in both comparison periods. There was no exceptional item in the quarter. The filing does not state a reason for the changes in revenue, other income or expenses.
The standalone filing also states that Shrenik entered the Corporate Insolvency Resolution Process pursuant to a National Company Law Tribunal order dated 30 July 2026. The powers of the Board of Directors were suspended and vested in the Resolution Professional under the Insolvency and Bankruptcy Code, 2016.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.01 | 0.01 | 0 | +0.0% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0 | 0 | 0 | |
| Other expenses | 0.13 | 0.04 | +0.09 | +225.0% |
| Total expenses | 5.75 | 8.84 | −3.09 | −35.0% |
| Other income | 0 | 0.55 | −0.55 | |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Shrenik reported standalone revenue of ₹12.32 crore, compared with ₹14.34 crore in H1 FY26, a decline of 14.1%. Total income was ₹12.32 crore, down 19.4% from ₹15.28 crore. The company reported a profit before tax of -₹0.33 crore and a net loss of ₹0.33 crore, against a profit before tax and net profit of ₹0.15 crore in H1 FY26.
Basic EPS for H1 FY27 was ₹0.00, unchanged from H1 FY26. The results remained negative in the first half, with the company moving from a profit in H1 FY26 to a loss in H1 FY27.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 12.32 | 14.34 | −14.1% |
| Profit before tax | −0.33 | 0.15 | turned to loss |
| Net profit | −0.33 | 0.15 | turned to loss |
| EPS (₹) | 0.00 | 0.00 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, standalone total assets were ₹1.46 crore, compared with ₹5.61 crore at 31 March 2026. Total equity was -₹176.31 crore against -₹175.98 crore, borrowings were ₹124.1 crore against ₹124.59 crore, and cash was ₹0.12 crore against ₹0.1 crore. Trade receivables were ₹0 crore against ₹4.09 crore, while trade payables were ₹5.4 crore against ₹8.46 crore.
H1 FY27 operating cash flow was -₹0.9 crore, compared with -₹0.51 crore in H1 FY26. Investing cash flow was ₹0 crore against ₹0.04 crore, and financing cash flow was ₹0.91 crore against ₹0.47 crore. The filing gives no closing cash figure for either period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1.46 | 5.61 |
| Total equity | −176.31 | −175.98 |
| Borrowings | 124.10 | 124.59 |
| Cash and equivalents | 0.12 | 0.10 |
| Inventories | 0 | 0 |
| Trade receivables | 0 | 4.09 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −0.90 | −0.51 |
| Cash from investing | 0 | 0.04 |
| Cash from financing | 0.91 | 0.47 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Shrenik done over the last 8 quarters?
Shrenik’s quarterly revenue rose from ₹4.65 crore in Q3 FY25 to ₹11.65 crore in Q4 FY26, before falling to ₹6.26 crore in Q1 FY27 and ₹5.62 crore in Q2 FY27. The trend data show Q4 FY26 as the revenue peak and Q3 FY25 as the low point in the stated period.
Net profit reached ₹1.07 crore in Q3 FY26, then fell to -₹1.03 crore in Q4 FY26 and remained negative at -₹0.20 crore in Q1 FY27 and -₹0.13 crore in Q2 FY27. The EBITDA margin improved from -10.1% in Q1 FY27 to -2.3% in Q2 FY27, although revenue declined.
How did other Paper & Paper Products companies do?
Fourteen Paper & Paper Products companies were compared for Q2 FY27. Their median revenue growth was 21.3%; one company grew more slowly than Shrenik and 13 companies grew faster than Shrenik. All 14 companies in the peer profit comparison reported higher profit, based on the filed quarterly data.
| Shrenik revenue growth (YoY) | −34.0% |
|---|---|
| Median of 14 other Paper & Paper Products companies | +21.3% |
| Companies with slower revenue growth than Shrenik | 1 of 14 |
| Companies with faster revenue growth than Shrenik | 13 of 14 |
| Companies whose net profit rose | 14 of 16 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Shrenik's revenue in Q2 FY27?
Revenue from operations was ₹5.62 crore, down 34.0% from ₹8.51 crore in Q2 FY26 (standalone).
Did Shrenik make a profit in Q2 FY27?
No. It reported a net loss of ₹0.13 crore, against a net profit of ₹0.22 crore in Q2 FY26.
What was Shrenik's EPS in Q2 FY27?
Basic earnings per share were ₹0.00, against ₹0.00 in Q2 FY26.
When did Shrenik announce its Q2 FY27 results?
On 5 November 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 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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