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Standard Industries Q2 FY27 results: net loss narrows to ₹5.87 crore, revenue up 21.2%
Standard Industries Limited reported consolidated revenue of ₹7.73 crore and a net loss of ₹5.87 crore for Q2 FY27, against revenue of ₹6.38 crore and a net loss of ₹6.65 crore in Q2 FY26. EBITDA was a loss of ₹3.86 crore and EBITDA margin was -50.0%, while basic EPS was ₹-0.91. On a standalone basis, revenue was ₹6.13 crore and the company reported a net loss of ₹6.53 crore.
Key points
- Consolidated revenue rose to ₹7.73 crore in Q2 FY27 from ₹6.38 crore in Q2 FY26, an increase of ₹1.35 crore or 21.2%.
- Consolidated EBITDA was a loss of ₹3.86 crore in Q2 FY27, compared with a loss of ₹2.84 crore in Q2 FY26; EBITDA margin fell to -50.0% from -44.5%.
- Consolidated net loss was ₹5.87 crore in Q2 FY27 against a net loss of ₹6.65 crore in Q2 FY26, while basic EPS was ₹-0.91.
- Revenue fell to ₹7.73 crore in Q2 FY27 from ₹192.57 crore in Q1 FY27, and net profit of ₹80.39 crore in the previous quarter changed to a net loss of ₹5.87 crore.
- For H1 FY27, revenue was ₹200.3 crore, PBT was ₹79.52 crore and PAT was ₹74.52 crore, compared with revenue of ₹16.88 crore and a net loss of ₹7.67 crore in H1 FY26.
How did Standard Industries perform in Q2 FY27?
Standard Industries reported consolidated revenue of ₹7.73 crore for Q2 FY27, compared with ₹6.38 crore in Q2 FY26 and ₹192.57 crore in Q1 FY27. Total income was ₹6.54 crore, against ₹4.04 crore a year earlier and ₹193.03 crore in the previous quarter. Revenue rose year on year by ₹1.35 crore, or 21.2%, but fell ₹184.84 crore, or 96.0%, from Q1 FY27.
Consolidated EBITDA was a loss of ₹3.86 crore in Q2 FY27, compared with a loss of ₹2.84 crore in Q2 FY26 and EBITDA of ₹86.31 crore in Q1 FY27. The EBITDA margin was -50.0%, down from -44.5% year on year and 44.8% in the previous quarter. PBT and PAT were each a loss of ₹5.87 crore, against losses of ₹6.65 crore in Q2 FY26 and PAT of ₹80.39 crore in Q1 FY27; basic EPS was ₹-0.91.
The results were consolidated. On a standalone basis, Q2 FY27 revenue was ₹6.13 crore, compared with ₹6.11 crore in the prior-year quarter, while PAT was a loss of ₹6.53 crore against a loss of ₹6.66 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 7.73 | 192.57 | 6.38 | +21.2% | −96.0% |
| Other income | −1.19 | 0.45 | −2.34 | ||
| Total expenses | 12.41 | 107.64 | 10.69 | +16.1% | −88.5% |
| EBITDA | −3.86 | 86.31 | −2.84 | turned to loss | |
| EBITDA margin | -50.0% | 44.8% | -44.5% | −5.5 pp | −94.8 pp |
| Profit before tax | −5.87 | 85.39 | −6.65 | turned to loss | |
| Tax | 0 | 5 | 0 | ||
| Net profit | −5.87 | 80.39 | −6.65 | turned to loss | |
| EPS (₹) | −0.91 | 12.50 | −1.03 | turned to loss |
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 Standard Industries' costs and profit?
Total expenses were ₹12.41 crore in Q2 FY27, up ₹1.72 crore, or 16.1%, from ₹10.69 crore in Q2 FY26. Cost of materials was ₹0.71 crore against no cost in the year-ago quarter, employee cost rose ₹0.19 crore to ₹0.80 crore, and other expenses rose ₹1.27 crore to ₹4.33 crore. Finance costs fell ₹0.69 crore to ₹0.09 crore, while depreciation increased by ₹0.04 crore to ₹0.73 crore.
Other income was a loss of ₹1.19 crore in Q2 FY27, compared with a loss of ₹2.34 crore in Q2 FY26, while tax remained unchanged at no tax expense. There was no exceptional item in either period. The figures show higher operating expenses and a less negative other-income figure, but the filing does not state further reasons for the changes.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0.71 | 0 | +0.71 | |
| Employee cost | 0.80 | 0.61 | +0.19 | +31.1% |
| Finance costs | 0.09 | 0.78 | −0.69 | −88.5% |
| Depreciation | 0.73 | 0.69 | +0.04 | +5.8% |
| Other expenses | 4.33 | 3.06 | +1.27 | +41.5% |
| Total expenses | 12.41 | 10.69 | +1.72 | +16.1% |
| Other income | −1.19 | −2.34 | +1.15 | |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, consolidated revenue was ₹200.3 crore, compared with ₹16.88 crore in H1 FY26. Total income was ₹199.57 crore against ₹17.5 crore, while PBT was ₹79.52 crore versus a loss of ₹7.67 crore and PAT was ₹74.52 crore versus a loss of ₹7.67 crore. Basic EPS was ₹11.58 in H1 FY27, compared with ₹-1.19 in H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 200.30 | 16.88 | +1086.6% |
| Profit before tax | 79.52 | −7.67 | turned to profit |
| Net profit | 74.52 | −7.67 | turned to profit |
| EPS (₹) | 11.58 | −1.19 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹224.12 crore, compared with ₹191.93 crore at 31 March 2026, and total equity was ₹187.99 crore against ₹115.07 crore. Borrowings remained at no borrowings at both dates. Cash was ₹1.64 crore versus ₹2.52 crore, inventories were ₹1.8 crore against ₹1.55 crore, trade receivables were ₹116.7 crore against ₹42.7 crore, and trade payables were ₹9.41 crore against ₹6.09 crore.
For H1 FY27, operating cash flow was ₹1.25 crore, compared with ₹18.6 crore in H1 FY26. Investing cash flow was ₹0.76 crore against a cash outflow of ₹2.31 crore, while financing cash flow was an outflow of ₹2.88 crore against an outflow of ₹14.21 crore. Capital expenditure was ₹0.81 crore, compared with ₹2.58 crore in the year-ago period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 224.12 | 191.93 |
| Total equity | 187.99 | 115.07 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 1.64 | 2.52 |
| Inventories | 1.80 | 1.55 |
| Trade receivables | 116.70 | 42.70 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 1.25 | 18.60 |
| Cash from investing | 0.76 | −2.31 |
| Cash from financing | −2.88 | −14.21 |
| Capital expenditure | 0.81 | 2.58 |
Source: Company's results filing (XBRL).
How has Standard Industries done over the last 8 quarters?
Across the reported quarters, revenue peaked at ₹192.57 crore in Q1 FY27 and was ₹7.73 crore in Q2 FY27. PAT reached ₹80.39 crore in Q1 FY27 before changing to a loss of ₹5.87 crore in Q2 FY27. EBITDA margin was 44.8% in Q1 FY27 and -50.0% in Q2 FY27, while the lowest reported margin was -53.3% in Q3 FY26.
Revenue rose year on year in each of the last eight quarters. The latest quarter therefore followed a large Q1 FY27 in both revenue and profitability, with revenue returning to ₹7.73 crore and PAT moving to a loss of ₹5.87 crore.
Which businesses drove the quarter?
Trading revenue was ₹6.13 crore in Q2 FY27, against ₹6.11 crore in Q2 FY26, an increase of 0.4%. The segment reported EBIT of ₹0.33 crore in both periods and an EBIT margin of 5.4%.
Manufacturing revenue was ₹1.6 crore, compared with ₹0.28 crore in the year-ago quarter, an increase of 477.5%. EBIT was ₹0.67 crore against ₹0.01 crore, with an EBIT margin of 41.5%. The Property division reported EBIT of a loss of ₹1.03 crore, compared with a loss of ₹0.43 crore; the Others segment reported EBIT of a loss of ₹0.0 crore in both periods.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Property division | 0 | −1.03 | ||
| Trading | 6.13 | +0.4% | 0.33 | 5.4% |
| Manufacturing | 1.60 | +477.5% | 0.67 | 41.5% |
| Others | 0 | 0 |
Source: Company's results filing (XBRL segment data).
What did the auditors point out?
The auditors’ limited review report included an Emphasis of Matter for the company’s equity investment of Rs. 5,969.82 lakhs in Standard Salt Works Limited, a wholly owned subsidiary. The report stated that, for the reasons in Note No. 6, management considers that no provision for impairment in the value of the investment is necessary at this stage. The auditors said: “Our conclusion is not modified in respect of this matter.” The report stated that nothing had come to their attention indicating that the statement had not disclosed the required information or contained any material misstatement.
How did Standard Industries shares react?
The stock was down 0.7% after five minutes, down 0.5% after 15 minutes and down 0.6% after 30 minutes from the price when the filing appeared. It closed the reaction day down 2.2% from the previous close of ₹16.18, and by the next day’s close it was down 5.5% from that pre-results close. The industry median rose 2.3% on the reaction day and 2.9% by the next day’s close, so Standard Industries underperformed the industry by 4.5 percentage points and 8.4 percentage points, respectively.
Earlier results-day reaction moves were mixed: Standard Industries rose 0.2% on 21 July 2026 and 2.9% on 12 May 2026, while it fell 6.5% on 12 February 2026, 0.2% on 3 November 2025, 2.4% on 1 August 2025, 2.0% on 20 May 2025, 3.4% on 10 February 2025 and 3.5% on 7 November 2024.
| After the filing | Stock | Trading - Textile Products median |
|---|---|---|
| 5 minutes | −0.7% | |
| 15 minutes | −0.5% | |
| 30 minutes | −0.6% | |
| Reaction day | −2.2% | +2.3% |
| Next day | −5.5% | +2.9% |
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 |
|---|---|
| 21 July 2026 | +0.2% |
| 12 May 2026 | +2.9% |
| 12 February 2026 | −6.5% |
| 3 November 2025 | −0.2% |
| 1 August 2025 | −2.4% |
| 20 May 2025 | −2.0% |
| 10 February 2025 | −3.4% |
| 7 November 2024 | −3.5% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Standard Industries' revenue in Q2 FY27?
Revenue from operations was ₹7.73 crore, up 21.2% from ₹6.38 crore in Q2 FY26 (consolidated).
Did Standard Industries make a profit in Q2 FY27?
No. It reported a net loss of ₹5.87 crore, against a net loss of ₹6.65 crore in Q2 FY26.
What was Standard Industries' EPS in Q2 FY27?
Basic loss per share was ₹0.91, against a loss of ₹1.03 in Q2 FY26.
How did Standard Industries shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.2% from the previous close; the median Trading - Textile Products stock moved +2.3%.
When did Standard Industries announce its Q2 FY27 results?
On 3 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Intimation Of Board Meeting For Approval Of Unaudited Financial Results (Standalone And Consolidated) Of The Company For The Second Quarter And Half Year Ended 30Th September, 2026, With 'Limited Review Report' By The Auditor) (BSE, 23 October 2026) · PDF
- Outcome of Board Meeting (NSE, 3 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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