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Shriram Asset Management Company Q2 FY27 results: net loss widens to ₹9.42 crore, revenue down 0.3%
Shriram Asset Management Company Limited reported standalone Q2 FY27 revenue of ₹2.96 crore and a net loss of ₹9.42 crore. Revenue was down 0.3% from Q2 FY26 and 26.7% from Q1 FY27, while the EBITDA margin widened to -312.3% from -146.6% a year earlier.
Key points
- Revenue was ₹2.96 crore, down 0.3% from ₹2.97 crore in Q2 FY26 and 26.7% from ₹4.04 crore in Q1 FY27.
- The company reported an EBITDA loss of ₹9.24 crore and a net loss of ₹9.42 crore for Q2 FY27.
- EBITDA margin fell 165.7 percentage points year on year to -312.3%.
- Employee cost rose 53.2% to ₹7.43 crore, while other expenses increased 92.3% to ₹4.73 crore.
- H1 FY27 revenue rose 6.4% to ₹6.99 crore, but the net loss widened to ₹16.3 crore from ₹7.19 crore.
How did Shriram Asset Management Company perform in Q2 FY27?
Shriram Asset Management Company reported standalone revenue of ₹2.96 crore for Q2 FY27, against ₹2.97 crore in Q2 FY26 and ₹4.04 crore in Q1 FY27. Revenue was down 0.3% year on year and down 26.7% sequentially. Other income was ₹0.01 crore, while total income was ₹2.97 crore.
The company reported an EBITDA loss of ₹9.24 crore in Q2 FY27, compared with ₹4.35 crore in Q2 FY26 and ₹6.73 crore in Q1 FY27. The EBITDA margin was -312.3%, down 165.7 percentage points from the year-ago quarter and 145.5 percentage points from the previous quarter.
Profit before tax was a loss of ₹9.41 crore, against a loss of ₹4.40 crore in Q2 FY26 and ₹6.83 crore in Q1 FY27. After tax of ₹0.01 crore, the company reported a net loss of ₹9.42 crore and basic EPS of -₹5.53. The results are standalone, and the filing’s review report covered the unaudited standalone financial statements.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 2.96 | 4.04 | 2.97 | −0.3% | −26.7% |
| Other income | 0.01 | 0.01 | 0.01 | +0.0% | +0.0% |
| Total expenses | 12.38 | 10.87 | 7.38 | +67.8% | +13.9% |
| EBITDA | −9.24 | −6.73 | −4.35 | ||
| EBITDA margin | -312.3% | -166.8% | -146.6% | −165.7 pp | −145.5 pp |
| Profit before tax | −9.41 | −6.83 | −4.40 | ||
| Tax | 0.01 | 0.06 | 0 | −83.3% | |
| Net profit | −9.42 | −6.89 | −4.40 | ||
| EPS (₹) | −5.53 | −4.05 | −3.38 |
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 Shriram Asset Management Company's costs and profit?
Total expenses rose 67.8% year on year to ₹12.38 crore from ₹7.38 crore in Q2 FY26. Employee cost accounted for the largest increase, rising 53.2% or ₹2.58 crore to ₹7.43 crore, while other expenses rose 92.3% or ₹2.27 crore to ₹4.73 crore.
Depreciation increased by ₹0.12 crore, or 200.0%, to ₹0.18 crore from ₹0.06 crore. Finance costs and the cost of materials were unchanged, while other income remained ₹0.01 crore. There was no exceptional item in either the year-ago quarter or Q2 FY27.
Tax expense was ₹0.01 crore, compared with no tax in Q2 FY26. Profit before tax fell by ₹5.01 crore to a loss of ₹9.41 crore, and the net loss widened by ₹5.02 crore to ₹9.42 crore. The filings report the cost movements but do not state reasons for the increase in expenses.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 7.43 | 4.85 | +2.58 | +53.2% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0.18 | 0.06 | +0.12 | +200.0% |
| Other expenses | 4.73 | 2.46 | +2.27 | +92.3% |
| Total expenses | 12.38 | 7.38 | +5 | +67.8% |
| Other income | 0.01 | 0.01 | 0 | +0.0% |
| 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 rose 6.4% to ₹6.99 crore from ₹6.57 crore in H1 FY26, while total income also rose 6.4% to ₹7.01 crore from ₹6.59 crore.
Profit before tax declined by ₹9.05 crore to a loss of ₹16.24 crore, and the net loss widened by ₹9.11 crore to ₹16.3 crore from ₹7.19 crore. Basic EPS fell to -₹9.59 from -₹4.37 in H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 6.99 | 6.57 | +6.4% |
| Profit before tax | −16.24 | −7.19 | |
| Net profit | −16.30 | −7.19 | |
| EPS (₹) | −9.59 | −4.37 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹144.63 crore on 30 September 2026, down from ₹157.19 crore on 31 March 2026. Total equity was ₹138.17 crore, compared with ₹152.4 crore at the previous balance sheet date. No borrowing figure was provided for either date.
In H1 FY27, operating cash flow was -₹21.22 crore, compared with -₹6.59 crore in H1 FY26. Investing cash flow was ₹20.56 crore against -₹98.66 crore, while financing cash flow was ₹0.6 crore against ₹104.97 crore. Capital expenditure was ₹2.99 crore, up from ₹0.37 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 144.63 | 157.19 |
| Total equity | 138.17 | 152.40 |
| Cash and equivalents | 0 | 0 |
| Inventories | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −21.22 | −6.59 |
| Cash from investing | 20.56 | −98.66 |
| Cash from financing | 0.60 | 104.97 |
| Capital expenditure | 2.99 | 0.37 |
Source: Company's results filing (XBRL).
How has Shriram Asset Management Company done over the last 8 quarters?
Revenue reached its highest level in the available quarterly series at ₹4.04 crore in Q1 FY27 before falling to ₹2.96 crore in Q2 FY27. The lowest quarterly revenue was ₹1.11 crore in Q4 FY25, while revenue was ₹2.97 crore in the year-ago Q2 FY26.
The net loss widened to ₹9.42 crore in Q2 FY27 from ₹6.89 crore in Q1 FY27 and ₹4.4 crore in Q2 FY26. Across the available quarters, the net loss was lowest at ₹2.76 crore in Q1 FY26 and highest at ₹9.42 crore in Q2 FY27.
The EBITDA margin fell to -312.3% in Q2 FY27 from -166.8% in Q1 FY27. The lowest margin in the series was -448.7% in Q4 FY25, while the highest was -75.2% in Q1 FY26, indicating that the current direction remained towards a wider negative margin.
What else did the company announce?
In its same-day filing dated 5 November 2026, the company said the board had approved the appointment of Vikrant Kishore Gugnani as an Additional Director, Vice-Chairman and Whole-Time Director with effect from 16 November 2026, subject to shareholder approval. The board also fixed his remuneration for a period of 3 years, subject to shareholder approval, and approved a postal ballot for these matters.
The filing said Ketankumar Shah was appointed Fund Manager with effect from 6 November 2026 and would cease to be Principal Officer under the SEBI Portfolio Managers Regulations from that date. Hitesh Savanth was appointed Principal Officer and would cease to be Senior Fund Manager under the SEBI Mutual Funds Regulations from 6 November 2026. The filing did not announce a dividend or fund raise.
How did other Asset Management Company companies do?
Five other Asset Management Company companies that had filed this quarter were compared with Shriram Asset Management Company. Their median revenue growth was 4.9%, while the company’s revenue fell 0.3% from Q2 FY26.
Three peers grew revenue faster than Shriram Asset Management Company, and two grew more slowly. Of the five peers whose profit was compared, two reported higher profit. The peer comparison was available as of 6 November 2026.
| Shriram Asset Management Company revenue growth (YoY) | −0.3% |
|---|---|
| Median of 5 other Asset Management Company companies | +4.9% |
| Companies with slower revenue growth than Shriram Asset Management Company | 2 of 5 |
| Companies with faster revenue growth than Shriram Asset Management Company | 3 of 5 |
| Companies whose net profit rose | 2 of 5 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Shriram Asset Management Company's revenue in Q2 FY27?
Revenue from operations was ₹2.96 crore, down 0.3% from ₹2.97 crore in Q2 FY26 (standalone).
Did Shriram Asset Management Company make a profit in Q2 FY27?
No. It reported a net loss of ₹9.42 crore, against a net loss of ₹4.40 crore in Q2 FY26.
What was Shriram Asset Management Company's EPS in Q2 FY27?
Basic loss per share was ₹5.53, against a loss of ₹3.38 in Q2 FY26.
When did Shriram Asset Management Company announce its Q2 FY27 results?
On 5 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.
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