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Starlog Enterprises Q2 FY27 results: net loss narrows to ₹1.35 crore, revenue down 29.1%
Starlog Enterprises Ltd reported consolidated revenue of ₹1.44 crore in Q2 FY27, down 29.1% from Q2 FY26, while its net loss narrowed to ₹1.35 crore from ₹3.23 crore. EBITDA was a loss of ₹1.26 crore, with an EBITDA margin of -87.2%, compared with a loss of ₹1.90 crore and a margin of -93.9% a year earlier.
Key points
- Consolidated revenue was ₹1.44 crore in Q2 FY27, down 29.1% from ₹2.03 crore in Q2 FY26 and 49.1% from ₹2.83 crore in Q1 FY27.
- The company reported a net loss of ₹1.35 crore in Q2 FY27, against a net loss of ₹3.23 crore in Q2 FY26; basic EPS was -₹0.83.
- EBITDA was a loss of ₹1.26 crore in Q2 FY27, compared with a loss of ₹1.90 crore in Q2 FY26, while EBITDA margin was -87.2%.
- For H1 FY27, revenue was ₹4.27 crore and the net loss was ₹2.22 crore, compared with revenue of ₹5.05 crore and a net loss of ₹5.38 crore in H1 FY26.
- The board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026 on 5 November 2026.
How did Starlog Enterprises perform in Q2 FY27?
Starlog Enterprises reported consolidated revenue of ₹1.44 crore in Q2 FY27, down 29.1% from ₹2.03 crore in Q2 FY26 and 49.1% from ₹2.83 crore in Q1 FY27. Total income was ₹2.45 crore, higher by 7.0% from ₹2.29 crore a year earlier but lower by 20.5% from ₹3.08 crore in the previous quarter. The figures are for the July–September 2026 quarter.
EBITDA was a loss of ₹1.26 crore in Q2 FY27, compared with a loss of ₹1.90 crore in Q2 FY26 and a profit of ₹0.28 crore in Q1 FY27. The EBITDA margin was -87.2%, compared with -93.9% in the year-ago quarter and 10.0% in the previous quarter. Profit before tax was a loss of ₹1.44 crore, while the net loss was ₹1.35 crore and basic EPS was -₹0.83.
On a standalone basis, revenue was ₹1.08 crore in Q2 FY27, down 42.2% from the year-ago quarter, while the net loss was ₹0.32 crore. The company’s board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026 on 5 November 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1.44 | 2.83 | 2.03 | −29.1% | −49.1% |
| Other income | 1.01 | 0.25 | 0.26 | +288.5% | +304.0% |
| Total expenses | 3.90 | 3.94 | 5.04 | −22.6% | −1.0% |
| EBITDA | −1.26 | 0.28 | −1.90 | turned to loss | |
| EBITDA margin | -87.2% | 10.0% | -93.9% | +6.7 pp | −97.2 pp |
| Profit before tax | −1.44 | −0.87 | −3.34 | ||
| Tax | −0.09 | 0.01 | −0.11 | ||
| Net profit | −1.35 | −0.87 | −3.23 | ||
| EPS (₹) | −0.83 | −0.58 | −2.17 |
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 Starlog Enterprises' costs and profit?
Total expenses fell ₹1.14 crore to ₹3.90 crore in Q2 FY27 from ₹5.04 crore in Q2 FY26, a decline of 22.6%. Other expenses declined ₹1.45 crore to ₹1.78 crore from ₹3.23 crore, while finance costs fell ₹0.06 crore to ₹0.15 crore from ₹0.21 crore. Employee cost rose ₹0.21 crore to ₹0.92 crore from ₹0.71 crore, and depreciation rose ₹0.14 crore to ₹1.04 crore from ₹0.90 crore.
Other income rose ₹0.75 crore to ₹1.01 crore in Q2 FY27 from ₹0.26 crore in Q2 FY26. Q2 FY26 included an exceptional charge of ₹0.59 crore, while Q2 FY27 had no exceptional item. Tax moved by ₹0.02 crore, from a loss of ₹0.11 crore to a loss of ₹0.09 crore. The net loss narrowed by ₹1.88 crore to ₹1.35 crore from ₹3.23 crore.
Against Q1 FY27, other income rose ₹0.76 crore to ₹1.01 crore from ₹0.25 crore, but other expenses increased ₹0.14 crore to ₹1.78 crore from ₹1.64 crore. Employee cost rose ₹0.01 crore to ₹0.92 crore, while finance costs fell ₹0.20 crore to ₹0.15 crore. The EBITDA margin moved from 10.0% to -87.2%.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.92 | 0.71 | +0.21 | +29.6% |
| Finance costs | 0.15 | 0.21 | −0.06 | −28.6% |
| Depreciation | 1.04 | 0.90 | +0.14 | +15.6% |
| Other expenses | 1.78 | 3.23 | −1.45 | −44.9% |
| Total expenses | 3.90 | 5.04 | −1.14 | −22.6% |
| Other income | 1.01 | 0.26 | +0.75 | +288.5% |
| Tax | −0.09 | −0.11 | +0.02 | |
| Exceptional items | none | −0.59 (charge) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹4.27 crore, down 15.4% from ₹5.05 crore in H1 FY26. Total income was ₹5.53 crore, compared with ₹5.52 crore in the year-ago period. Profit before tax was a loss of ₹2.31 crore, compared with a loss of ₹5.49 crore, and the net loss narrowed to ₹2.22 crore from ₹5.38 crore.
Basic EPS for H1 FY27 was -₹1.41, compared with -₹3.49 in H1 FY26. The board approved the unaudited standalone and consolidated results for the half year ended 30 September 2026, and the statutory auditors issued limited review reports on them.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 4.27 | 5.05 | −15.4% |
| Profit before tax | −2.31 | −5.49 | |
| Net profit | −2.22 | −5.38 | |
| EPS (₹) | −1.41 | −3.49 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹123.61 crore, compared with ₹117.83 crore at 31 March 2026. Total equity was ₹65.33 crore, compared with ₹67.56 crore, while trade receivables were ₹29.74 crore against ₹30.68 crore and trade payables were ₹1.3 crore against ₹1.89 crore. Borrowings remained nil, and cash was ₹0.48 crore, compared with ₹7.85 crore at the previous balance sheet date.
For H1 FY27, operating cash flow was ₹15.51 crore, compared with ₹8.05 crore in H1 FY26. Investing cash flow was an outflow of ₹13.26 crore, compared with an outflow of ₹3.91 crore, while financing cash flow was an outflow of ₹0.41 crore against an inflow of ₹4.79 crore. Capital expenditure was ₹15.07 crore, compared with ₹1.96 crore in the year-ago period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 123.61 | 117.83 |
| Total equity | 65.33 | 67.56 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 0.48 | 7.85 |
| Inventories | 0 | 0 |
| Trade receivables | 29.74 | 30.68 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 15.51 | 8.05 |
| Cash from investing | −13.26 | −3.91 |
| Cash from financing | −0.41 | 4.79 |
| Capital expenditure | 15.07 | 1.96 |
Source: Company's results filing (XBRL).
How has Starlog Enterprises done over the last 8 quarters?
Revenue reached its highest level in the supplied quarterly series at ₹5.02 crore in Q3 FY25 and its lowest at ₹1.44 crore in Q2 FY27. It was ₹2.83 crore in Q1 FY27 before falling in the latest quarter. Profit was highest at ₹1.73 crore in Q3 FY25 and bottomed at a loss of ₹5.8 crore in Q4 FY26, while the latest quarter recorded a loss of ₹1.35 crore.
The EBITDA margin was 41.0% in Q3 FY25 and bottomed at -118.7% in Q4 FY26. It recovered to 10.0% in Q1 FY27 before declining to -87.2% in Q2 FY27. The latest quarter therefore shows lower revenue, a higher net loss than the preceding quarter, and a negative EBITDA margin.
How did other Port & Port services companies do?
Five other Port & Port services companies that had filed for the quarter were compared with Starlog Enterprises. Their median revenue growth was 17.0%. One peer grew more slowly than Starlog Enterprises, while four peers grew faster than the company. Three of the five peers reported higher profit.
| Starlog Enterprises revenue growth (YoY) | −29.1% |
|---|---|
| Median of 5 other Port & Port services companies | +17.0% |
| Companies with slower revenue growth than Starlog Enterprises | 1 of 5 |
| Companies with faster revenue growth than Starlog Enterprises | 4 of 5 |
| Companies whose net profit rose | 3 of 5 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Starlog Enterprises' revenue in Q2 FY27?
Revenue from operations was ₹1.44 crore, down 29.1% from ₹2.03 crore in Q2 FY26 (consolidated).
Did Starlog Enterprises make a profit in Q2 FY27?
No. It reported a net loss of ₹1.35 crore, against a net loss of ₹3.23 crore in Q2 FY26.
What was Starlog Enterprises' EPS in Q2 FY27?
Basic loss per share was ₹0.83, against a loss of ₹2.17 in Q2 FY26.
When did Starlog Enterprises announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of Unaudited (Standalone And Consolidated) Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026. (BSE, 2 November 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On Thursday, November 05, 2026 (BSE, 5 November 2026) · PDF
- Financial Results (Standalone And Consolidated) For The Quarter And Half Year Ended September 30, 2026 (BSE, 5 November 2026) · PDF
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