- Home
- Results news
- Span Divergent
- Q2 FY27 results
Span Divergent Q2 FY27 results: net loss widens to ₹0.75 crore, revenue down 29.2%
Span Divergent Limited reported consolidated revenue of ₹5.41 crore for Q2 FY27, down from ₹7.64 crore in Q2 FY26 but higher than ₹1.02 crore in Q1 FY27. The company reported an EBITDA loss of ₹0.93 crore, a net loss of ₹0.75 crore and basic EPS of ₹1.04, while the first-half loss widened to ₹1.94 crore.
Key points
- Consolidated Q2 FY27 revenue was ₹5.41 crore, down 29.2% from ₹7.64 crore in Q2 FY26 and up 430.4% from ₹1.02 crore in Q1 FY27.
- EBITDA was a loss of ₹0.93 crore in Q2 FY27, compared with a loss of ₹0.0 crore in Q2 FY26 and ₹1.05 crore in Q1 FY27; the EBITDA margin was -17.1%.
- The company reported a net loss of ₹0.75 crore in Q2 FY27, against a net loss of ₹0.19 crore in Q2 FY26 and ₹1.19 crore in Q1 FY27; basic EPS was ₹1.04.
- H1 FY27 revenue was ₹6.43 crore, down 26.2% from ₹8.71 crore in H1 FY26, while the net loss widened to ₹1.94 crore from ₹0.36 crore.
- Cashew processing revenue was ₹5.36 crore, down 18.5% year on year, while trading revenue was ₹0.53 crore, down 49.0%, with EBIT losses of ₹0.18 crore and ₹0.29 crore respectively.
How did Span Divergent perform in Q2 FY27?
Span Divergent reported consolidated revenue of ₹5.41 crore in Q2 FY27, down from ₹7.64 crore in Q2 FY26 and up from ₹1.02 crore in Q1 FY27. Total income was ₹6.09 crore, against ₹7.86 crore and ₹1.3 crore in the two comparison quarters. EBITDA was a loss of ₹0.93 crore, with a margin of -17.1%, compared with a loss of ₹0.0 crore and a margin of -0.0% in Q2 FY26 and a loss of ₹1.05 crore with a margin of -102.9% in Q1 FY27.
The company reported a loss before tax of ₹0.76 crore, a net loss of ₹0.75 crore and a net loss attributable to owners of ₹0.65 crore in Q2 FY27. Basic EPS was ₹1.04, compared with ₹0.34 in Q2 FY26 and ₹1.64 in Q1 FY27. On the standalone basis, revenue was ₹0.16 crore and the loss attributable to owners was ₹0.27 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 5.41 | 1.02 | 7.64 | −29.2% | +430.4% |
| Other income | 0.67 | 0.28 | 0.22 | +204.5% | +139.3% |
| Total expenses | 6.85 | 2.45 | 8.03 | −14.7% | +179.6% |
| EBITDA | −0.93 | −1.05 | 0 | turned to loss | |
| EBITDA margin | -17.1% | -102.9% | -0.0% | −17.1 pp | +85.8 pp |
| Profit before tax | −0.76 | −1.15 | −0.16 | ||
| Tax | −0.01 | 0.04 | 0.02 | ||
| Net profit | −0.75 | −1.19 | −0.19 | ||
| EPS (₹) | −1.04 | −1.64 | −0.34 |
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 Span Divergent's costs and profit?
Consolidated total expenses fell to ₹6.85 crore in Q2 FY27 from ₹8.03 crore in Q2 FY26, but rose from ₹2.45 crore in Q1 FY27. Other income increased to ₹0.67 crore from ₹0.22 crore in Q2 FY26, while employee cost was ₹0.68 crore, finance costs ₹0.16 crore, depreciation ₹0.35 crore and other expenses ₹1.33 crore. There was no exceptional item in the quarter.
Against Q2 FY26, employee cost was higher by ₹0.14 crore, finance costs by ₹0.04 crore, depreciation by ₹0.08 crore and other expenses by ₹0.65 crore; other income was higher by ₹0.45 crore. The tax line moved from ₹0.02 crore in Q2 FY26 to a tax credit of ₹0.01 crore in Q2 FY27, while total expenses were lower by ₹1.18 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.68 | 0.54 | +0.14 | +25.9% |
| Finance costs | 0.16 | 0.12 | +0.04 | +33.3% |
| Depreciation | 0.35 | 0.27 | +0.08 | +29.6% |
| Other expenses | 1.33 | 0.68 | +0.65 | +95.6% |
| Total expenses | 6.85 | 8.03 | −1.18 | −14.7% |
| Other income | 0.67 | 0.22 | +0.45 | +204.5% |
| Tax | −0.01 | 0.02 | −0.03 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Span Divergent reported consolidated revenue of ₹6.43 crore and total income of ₹7.39 crore, compared with ₹8.71 crore and ₹9.65 crore in H1 FY26. Revenue was down 26.2% and total income was down 23.4%.
The company reported a loss before tax of ₹1.91 crore and a net loss of ₹1.94 crore in H1 FY27, against a loss before tax of ₹0.31 crore and a net loss of ₹0.36 crore in H1 FY26. The changes were a deterioration of ₹1.6 crore in profit before tax and ₹1.58 crore in net profit; H1 FY27 EPS was -2.67.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 6.43 | 8.71 | −26.2% |
| Profit before tax | −1.91 | −0.31 | |
| Net profit | −1.94 | −0.36 | |
| EPS (₹) | −2.67 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹30.77 crore, compared with ₹28.9 crore at 31 March 2026. Total equity was ₹7.9 crore, down from ₹9.83 crore; borrowings were ₹10.45 crore, up from ₹7.14 crore, while cash fell to ₹0.84 crore from ₹6.48 crore. Inventories were ₹5.31 crore, trade receivables ₹2.76 crore and trade payables ₹5.32 crore.
H1 FY27 operating cash flow was negative ₹7.27 crore, compared with ₹0.2 crore in H1 FY26. Investing cash flow was negative ₹1.59 crore against ₹1.02 crore, while financing cash flow was ₹3.23 crore against negative ₹1.29 crore. Capital expenditure was ₹2.17 crore, compared with ₹0.28 crore in the earlier period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 30.77 | 28.90 |
| Total equity | 7.90 | 9.83 |
| Borrowings | 10.45 | 7.14 |
| Cash and equivalents | 0.84 | 6.48 |
| Inventories | 5.31 | 1.72 |
| Trade receivables | 2.76 | 1.54 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −7.27 | 0.20 |
| Cash from investing | −1.59 | 1.02 |
| Cash from financing | 3.23 | −1.29 |
| Capital expenditure | 2.17 | 0.28 |
Source: Company's results filing (XBRL).
How has Span Divergent done over the last 8 quarters?
Revenue reached ₹7.64 crore in Q2 FY26 and fell to ₹1.02 crore in Q1 FY27 before rising to ₹5.41 crore in Q2 FY27. The lowest revenue in the reported sequence was ₹0.55 crore in Q4 FY25, while the highest was ₹7.64 crore in Q2 FY26.
The net loss was largest at ₹1.19 crore in Q1 FY27 and narrowed to ₹0.75 crore in Q2 FY27. The EBITDA margin bottomed at -171.2% in Q4 FY25, then improved to -102.9% in Q1 FY27 and -17.1% in Q2 FY27, remaining negative. The latest quarter therefore showed higher revenue and a smaller loss than the preceding quarter.
Which businesses drove the quarter?
Cashew processing remained the largest reported business segment in Q2 FY27, with revenue of ₹5.36 crore, down 18.5% from ₹6.58 crore in Q2 FY26. Its EBIT was a loss of ₹0.18 crore, compared with a loss of ₹0.23 crore in the year-ago quarter, and the reported EBIT margin was -3.4%.
Trading revenue was ₹0.53 crore in Q2 FY27, down 49.0% from ₹1.04 crore in Q2 FY26. The segment reported an EBIT loss of ₹0.29 crore against a loss of ₹0.06 crore in Q2 FY26, with an EBIT margin of -53.7%. Tissu Culture reported revenue of ₹0.0 crore and an EBIT loss of ₹0.0 crore in both periods.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Cashew processing | 5.36 | −18.5% | −0.18 | -3.4% |
| Tissu Culture | 0 | 0 | ||
| Trading | 0.53 | −49.0% | −0.29 | -53.7% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved an enhancement of the HDFC Bank corporate guarantee for material subsidiary Dryfruit Factory LLP by ₹68,00,000, taking the aggregate guarantee to ₹5,68,00,000. The company said the guarantee had no immediate financial impact beyond disclosure in the financial statements and constituted a contingent liability to the extent of the guaranteed amount.
Quick answers
What was Span Divergent's revenue in Q2 FY27?
Revenue from operations was ₹5.41 crore, down 29.2% from ₹7.64 crore in Q2 FY26 (consolidated).
Did Span Divergent make a profit in Q2 FY27?
No. It reported a net loss of ₹0.75 crore, against a net loss of ₹0.19 crore in Q2 FY26.
What was Span Divergent's EPS in Q2 FY27?
Basic loss per share was ₹1.04, against a loss of ₹0.34 in Q2 FY26.
When did Span Divergent announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Span Divergent Limited -Meeting Of The Board Of Directors Of The Company Scheduled To Be Held On Thursday, November 05, 2026 (BSE, 30 October 2026) · PDF
- Board Meeting Outcome for Span Divergent Limited - Outcome Of Board Meeting Held On November 05, 2026 (BSE, 5 November 2026) · PDF
- Span Divergent Limited - Results For The Quarter Ended On September 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.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.