Terraform Magnum Q2 FY27 results: net loss widens to ₹0.01 crore

How did Terraform Magnum perform in Q2 FY27?

Terraform Magnum reported standalone revenue of ₹0 crore in Q2 FY27, unchanged from both Q2 FY26 and Q1 FY27. EBITDA was negative ₹0.01 crore, while no EBITDA margin was reported. Total expenses were ₹0.01 crore, compared with ₹0.01 crore in Q2 FY26 and ₹0.02 crore in Q1 FY27.

The company reported a loss before tax of ₹0.01 crore and a net loss of ₹0.01 crore in Q2 FY27. These figures were unchanged from Q2 FY26, while the net loss was ₹0.01 crore lower than in Q1 FY27. Basic EPS fell to ₹0.59 from ₹0.50 a year earlier and rose from ₹0.79 in the previous quarter.

What changed in Terraform Magnum's costs and profit?

Total expenses were ₹0.01 crore in Q2 FY27, unchanged from Q2 FY26 and ₹0.01 crore lower than Q1 FY27, a decline of 50.0%. Other expenses accounted for ₹0.01 crore, while cost of materials, employee cost, finance costs and depreciation were ₹0 crore. Other income and tax were also ₹0 crore, and there was no exceptional item.

How did the first half of FY27 go?

For the first half of FY27, revenue and total income were ₹0 crore, unchanged from H1 FY26. Profit before tax and net loss were both ₹0.03 crore, compared with ₹0.04 crore in H1 FY26. Basic EPS improved to ₹1.37 from ₹1.71, while the net loss narrowed by ₹0.01 crore.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹12.2 crore, compared with ₹12.24 crore at 31 March 2026. Total equity remained negative at ₹18.3 crore, against negative ₹18.27 crore, while inventories were unchanged at ₹7.97 crore. Borrowings were ₹0 crore, and cash declined from ₹0.01 crore to ₹0 crore.

H1 FY27 operating cash flow was negative ₹0.01 crore, compared with negative ₹0.03 crore in H1 FY26. Investing cash flow was ₹0 crore against ₹0.04 crore, while financing cash flow and capital expenditure were ₹0 crore in both periods.

How has Terraform Magnum done over the last 8 quarters?

Revenue remained ₹0 crore in each of the last eight quarters, from Q3 FY25 through Q2 FY27. Net profit ranged from a net loss of ₹0.03 crore to a net profit of ₹0.10 crore, with the bottom at a net loss of ₹0.03 crore in Q3 FY25 and Q1 FY26 and the peak at a net profit of ₹0.10 crore in Q4 FY26. Q2 FY27 moved back to a net loss of ₹0.01 crore. No EBITDA margin figures were available for the period.

What else did the company announce?

On 4 November 2026, the board approved the reappointment of Uday Kuverji Mota as Managing Director and Key Managerial Personnel for five years, effective from 11 November 2026 to 10 November 2031. The appointment is subject to shareholder approval at the General Meeting. The same-day filings did not disclose a dividend or a fund raise.

What did the auditors point out?

The auditors drew attention to material uncertainty related to going concern, stating that the financial results had been prepared on a going-concern basis using estimated future cash-flow projections, business prospects and internal assessment, although the company’s net worth continued to be negative. The auditors said their opinion was not modified in respect of this matter.

The auditors also highlighted leasehold property disclosed as inventory or work-in-progress, arrangements for assignment or development rights, and related ongoing litigation and disputes. In the company’s results, revenue recognition was deferred under Ind AS 115 because of continuing disputes, litigation and uncertainties over completion and enforceability of the property transaction.

How did other Other Financial Services companies do?

Twenty-one Other Financial Services companies were compared for the quarter, with a median revenue growth of -7.7%. The number of peers that grew slower than Terraform Magnum was not given in the data, and the number that grew faster was also not given. Among 39 peers for which profit was compared, 20 reported higher profit.