Tarapur Transformers Q2 FY27 results: net profit ₹0.55 crore vs ₹0.44 crore loss

How did Tarapur Transformers perform in Q2 FY27?

Tarapur Transformers reported standalone revenue of ₹0 crore for Q2 FY27. Other income was ₹1.45 crore, while total expenses were ₹1.05 crore, including employee cost of ₹0.02 crore, finance costs of ₹0.21 crore, depreciation of ₹0.09 crore and other expenses of ₹0.85 crore. Profit before tax was ₹0.40 crore and net profit was ₹0.55 crore. Basic EPS was ₹0.28.

Against Q2 FY26, revenue was lower by ₹0.08 crore, while other income was higher by ₹1.45 crore. Total expenses rose by ₹0.53 crore, or 101.9%, and profit before tax improved by ₹0.84 crore, turning to profit from a net loss. Net profit increased by ₹0.99 crore, while basic EPS improved by ₹0.51. EBITDA and EBITDA margin were not reported.

Against Q1 FY27, revenue was unchanged at ₹0 crore. Other income was higher by ₹1.27 crore, total expenses rose by ₹0.41 crore, or 64.1%, and profit before tax improved by ₹0.86 crore, turning to profit. Net profit increased by ₹0.99 crore and basic EPS improved by ₹0.51. The filing provides standalone results and does not give consolidated figures.

What changed in Tarapur Transformers' costs and profit?

Other income was ₹1.45 crore in Q2 FY27, against ₹0 crore in Q2 FY26 and ₹0.18 crore in Q1 FY27. Total expenses were ₹1.05 crore, higher by ₹0.53 crore from Q2 FY26 and ₹0.41 crore from Q1 FY27. Employee cost was ₹0.02 crore, finance costs were ₹0.21 crore, depreciation was ₹0.09 crore and other expenses were ₹0.85 crore. No exceptional item was reported.

The main expense movement against Q2 FY26 was in other expenses, which rose by ₹0.67 crore, or 372.2%. Finance costs were higher by ₹0.04 crore, or 23.5%, and employee cost was higher by ₹0.01 crore, or 100.0%. Depreciation was lower by ₹0.07 crore, or 43.8%. Tax was ₹0.16 crore against ₹0 crore in Q2 FY26 and ₹0.01 crore in Q1 FY27. The filing does not state why other income and other expenses changed.

How did the first half of FY27 go?

For H1 FY27, Tarapur Transformers reported revenue of ₹0 crore, total income of ₹1.64 crore, profit before tax of a net loss of ₹0.06 crore, net profit of ₹0.11 crore and EPS of ₹0.06. In H1 FY26, revenue was ₹0.63 crore, total income was ₹0.63 crore, profit before tax was a net loss of ₹0.35 crore, net profit was a net loss of ₹0.35 crore and EPS was negative ₹0.18.

Total income increased by ₹1.01 crore, or 160.3%, while revenue was lower by ₹0.63 crore. Profit before tax improved by ₹0.29 crore, and net profit moved to ₹0.11 crore from a net loss of ₹0.35 crore, an improvement of ₹0.46 crore. EPS increased by ₹0.24, from negative ₹0.18 to ₹0.06.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹11.48 crore, compared with ₹11.64 crore at 31 March 2026. Total equity was negative ₹1.75 crore against negative ₹1.86 crore at the previous balance sheet date. Cash was ₹0.24 crore against ₹0.08 crore, inventories were ₹0.11 crore against ₹0 crore, trade receivables were ₹0.07 crore against ₹0 crore and trade payables were ₹0.04 crore against ₹0.07 crore. Borrowings were ₹0 crore at both dates.

For H1 FY27, operating cash flow was negative ₹0.75 crore, compared with positive ₹0.29 crore in H1 FY26. Investing cash flow was ₹1.06 crore against ₹0.66 crore, financing cash flow was negative ₹0.32 crore against negative ₹1.03 crore, and capital expenditure was ₹0.17 crore against ₹0 crore. The filing does not provide closing cash for either period.

How has Tarapur Transformers done over the last 8 quarters?

Tarapur Transformers’ recent quarterly results show revenue at ₹0 crore in Q1 FY27 and Q2 FY27, after ₹0.08 crore in Q2 FY26. Net profit was ₹0.55 crore in Q2 FY27, compared with a net loss of ₹0.44 crore in Q1 FY27 and a net loss of ₹0.24 crore in Q3 FY26. In the supplied series, net profit peaked at ₹2.41 crore in Q3 FY25 and bottomed at a net loss of ₹1.26 crore in Q4 FY26. EBITDA margin was not reported for the quarters shown.

What did the auditors point out?

The limited review report states that the auditors did not perform an audit and did not express an audit opinion. Except for the points in clauses 1–7, nothing came to their attention that caused them to believe the statement had not disclosed the required information or contained a material misstatement.

The report raises matters including non-receipt of balance confirmations, non-compliance with Ind AS 116 leases, no documentation for loans and advances, breach of the limits under section 186 of the Companies Act, 2013, and non-compliance with section 194A of the Income Tax Act, 1961, regarding tax deducted at source on interest. It also states that the company’s net worth was negative ₹17523 lakhs, creating a material uncertainty and significant doubt about its ability to continue as a going concern. The report also refers to accumulated reserves being overstated by ₹91.87 lacs and to an emphasis of matter concerning non-current assets held for sale and discontinued operations.

How did Tarapur Transformers shares react?

After the filing appeared, the stock moved down 0.7% within 5 minutes, 15 minutes and 30 minutes. On the reaction day, it fell 4.7% from the previous close of ₹13.90 to the close of ₹13.89, while the median move for other Investment Company stocks was -0.1%; the stock’s excess sector move was -4.6 percentage points. The report does not provide a reaction for the next day or five days.

Earlier results-day reactions were negative on 13 August 2026, 27 May 2026, 11 February 2026, 13 August 2025, 29 May 2025, 14 February 2025 and 14 November 2024, with moves of -2.0%, -2.2%, -3.2%, -2.9%, -4.0%, -2.0% and -2.0%, respectively. The 13 November 2025 reaction was positive at 0.5%.

How did other Investment Company companies do?

Twenty-five other Investment Company companies were compared for revenue growth. Their median revenue growth was 25.1%, and the comparison showed 25 peers_growing_slower_than_company and no peers_growing_faster_than_company. Of the 30 peers included in the profit comparison, 22 grew profit. The peer data was available as of 6 November 2026.