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Tijaria Polypipes Q2 FY27 results: net loss narrows to ₹0.31 crore
Tijaria Polypipes Limited reported a net loss of ₹0.31 crore in Q2 FY27 on standalone figures, compared with a net loss of ₹0.40 crore in Q2 FY26 and ₹0.36 crore in Q1 FY27. Total income fell 70.0% year on year, while lower total expenses narrowed the quarterly loss; EBITDA was negative ₹0.02 crore and EBITDA margin was not reported.
Key points
- Revenue was ₹0 crore in Q2 FY27, unchanged from Q2 FY26 and Q1 FY27.
- Total income was ₹0.03 crore, down 70.0% from ₹0.10 crore in Q2 FY26 and 40.0% from ₹0.05 crore in Q1 FY27.
- The company reported a net loss of ₹0.31 crore, compared with a net loss of ₹0.40 crore in Q2 FY26 and ₹0.36 crore in Q1 FY27.
- Basic EPS was -₹0.11 for Q2 FY27, compared with -₹0.28 in Q2 FY26 and -₹0.13 in Q1 FY27.
- Total expenses were ₹0.34 crore, down 32.0% from ₹0.50 crore in Q2 FY26; there was no exceptional item.
How did Tijaria Polypipes perform in Q2 FY27?
Tijaria Polypipes reported standalone revenue of ₹0 crore in Q2 FY27, unchanged from Q2 FY26 and Q1 FY27. Total income was ₹0.03 crore, down 70.0% from ₹0.10 crore a year earlier and 40.0% from ₹0.05 crore in the previous quarter. EBITDA was negative ₹0.02 crore, while EBITDA margin was not reported.
The company reported a net loss of ₹0.31 crore for Q2 FY27, against a net loss of ₹0.40 crore in Q2 FY26 and ₹0.36 crore in Q1 FY27. Profit before tax was also negative ₹0.31 crore, compared with negative ₹0.40 crore and negative ₹0.36 crore, respectively. Basic EPS was -₹0.11, compared with -₹0.28 in Q2 FY26 and -₹0.13 in Q1 FY27.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0 | 0 | 0 | ||
| Other income | 0.03 | 0.05 | 0.10 | −70.0% | −40.0% |
| Total expenses | 0.34 | 0.41 | 0.50 | −32.0% | −17.1% |
| EBITDA | −0.02 | −0.10 | −0.11 | ||
| Profit before tax | −0.31 | −0.36 | −0.40 | ||
| Tax | 0 | 0 | 0 | ||
| Net profit | −0.31 | −0.36 | −0.40 | ||
| EPS (₹) | −0.11 | −0.13 | −0.28 |
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 Tijaria Polypipes' costs and profit?
Total expenses fell by ₹0.16 crore, or 32.0%, to ₹0.34 crore from ₹0.50 crore in Q2 FY26. Other expenses declined by ₹0.08 crore, or 80.0%, to ₹0.02 crore; finance costs fell by ₹0.05 crore, or 25.0%, to ₹0.15 crore; and depreciation fell by ₹0.02 crore, or 10.5%, to ₹0.17 crore. Employee cost and cost of materials were unchanged at ₹0.01 crore and ₹0 crore, respectively.
Other income fell by ₹0.07 crore, or 70.0%, to ₹0.03 crore from ₹0.10 crore in Q2 FY26. Tax was unchanged at ₹0 crore, and there was no exceptional item. Against Q1 FY27, total expenses fell by ₹0.07 crore, or 17.1%, mainly because other expenses fell by ₹0.07 crore, or 77.8%, to ₹0.02 crore; finance costs were higher by ₹0.01 crore, or 7.1%, at ₹0.15 crore.
The filing did not state a reason for the year-on-year decline in other income. The quarter’s loss narrowed by ₹0.09 crore from Q2 FY26 and by ₹0.05 crore from Q1 FY27, based on the reported changes in income and expenses.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.01 | 0.01 | 0 | +0.0% |
| Finance costs | 0.15 | 0.20 | −0.05 | −25.0% |
| Depreciation | 0.17 | 0.19 | −0.02 | −10.5% |
| Other expenses | 0.02 | 0.10 | −0.08 | −80.0% |
| Total expenses | 0.34 | 0.50 | −0.16 | −32.0% |
| Other income | 0.03 | 0.10 | −0.07 | −70.0% |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Tijaria Polypipes reported revenue of ₹0 crore, unchanged from H1 FY26. Total income was ₹0.09 crore, down 25.0% from ₹0.12 crore, while profit before tax and net profit were negative ₹0.67 crore each, compared with negative ₹0.66 crore each in H1 FY26.
Basic EPS for H1 FY27 was -₹0.23, compared with -₹0.46 in H1 FY26. The first-half loss therefore widened by ₹0.01 crore, while EPS moved closer to breakeven by ₹0.23.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 0 | 0 | |
| Profit before tax | −0.67 | −0.66 | |
| Net profit | −0.67 | −0.66 | |
| EPS (₹) | −0.23 | −0.46 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹47.89 crore at 30 September 2026, against ₹48.77 crore at 31 March 2026. Total equity was negative ₹34.46 crore, compared with negative ₹33.79 crore at the previous balance sheet date. Borrowings were ₹72.14 crore, down from ₹72.83 crore, while inventories remained at ₹0.41 crore and cash remained at ₹0 crore.
Trade receivables were ₹0 crore at 30 September 2026, against ₹25.14 crore at 31 March 2026; trade payables remained at ₹0 crore. H1 FY27 operating cash flow was ₹0.96 crore, compared with ₹5.14 crore in H1 FY26. Investing cash flow was ₹0.02 crore against ₹0.06 crore, and financing cash flow was negative ₹0.98 crore against negative ₹5.2 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 47.89 | 48.77 |
| Total equity | −34.46 | −33.79 |
| Borrowings | 72.14 | 72.83 |
| Cash and equivalents | 0 | 0 |
| Inventories | 0.41 | 0.41 |
| Trade receivables | 0 | 25.14 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 0.96 | 5.14 |
| Cash from investing | 0.02 | 0.06 |
| Cash from financing | −0.98 | −5.20 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Tijaria Polypipes done over the last 8 quarters?
Reported revenue was ₹0 crore in each quarter from Q3 FY25 through Q2 FY27, so the available series shows no revenue movement. Profit remained negative throughout, with the lowest reported quarterly loss at ₹0.27 crore in Q1 FY26 and the highest loss at ₹3.14 crore in Q4 FY25.
The loss narrowed from ₹0.36 crore in Q1 FY27 to ₹0.31 crore in Q2 FY27. EBITDA margin was not reported for the quarters in the trend series, so the path of that measure cannot be stated from the available figures.
Which businesses drove the quarter?
The Pipe segment reported revenue of ₹0 crore in Q2 FY27, unchanged from Q2 FY26, and EBIT of negative ₹0.04 crore against negative ₹0.07 crore. The Textile segment also reported revenue of ₹0 crore, unchanged from the year-ago quarter, and EBIT of negative ₹0.12 crore against negative ₹0.13 crore.
The filing data does not report revenue growth or EBIT margins for either segment. Both segments recorded negative EBIT in Q2 FY27, with the Textile segment’s EBIT loss larger than that of Pipe.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Pipe | 0 | −0.04 | ||
| Textile | 0 | −0.12 |
Source: Company's results filing (XBRL segment data).
What did the auditors point out?
The independent auditor’s review report states “Disclaimer of Conclusion” and says the auditor could not obtain sufficient appropriate evidence to provide a basis for the conclusion on the accompanying unaudited standalone financial results. The report says the review provides less assurance than an audit and that no audit opinion is expressed.
The auditor drew attention to Bank of India’s declaration of the company’s loan as a non-performing asset on 30 June 2022, with outstanding loan and bank guarantee amounts of 7116.27 lacs and 57 lacs, respectively. It also noted the Bank of India case before the NCLT, Jaipur Bench, and that management had not made an interest provision on the NPA loan account since 1 July 2022.
The auditor also said independent confirmations were not received for the majority of receivables and advances to suppliers of Rs. 2555.20 lacs, and for outstanding bank balances. It said it could not comment on the recoverability and existence of those loans and advances. Some trade receivable and trade payable balances were also subject to confirmation.
How did Tijaria Polypipes shares react?
Tijaria Polypipes closed the reaction day at ₹6.26, up 5.4% from the pre-results close of ₹5.94. The move was 4.8 percentage points above the 0.5% median for the Plastic Products - Industrial sector. The stock showed no recorded change at 5, 15 or 30 minutes after the filing appeared after market.
Earlier reaction-day moves were mixed. The stock fell 1.4% on 14 July 2026 and rose 0.9% on 26 May 2026; it fell 4.9% on 12 February 2026, 3.0% on 12 November 2025 and 1.1% on 12 August 2025. Earlier results also produced moves of 1.9% on 15 May 2025, negative 2.8% on 12 February 2025 and negative 2.1% on 11 November 2024.
| After the filing | Stock | Plastic Products - Industrial median |
|---|---|---|
| 5 minutes | +0.0% | |
| 15 minutes | +0.0% | |
| 30 minutes | +0.0% | |
| Reaction day | +5.4% | +0.5% |
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 |
|---|---|
| 14 July 2026 | −1.4% |
| 26 May 2026 | +0.9% |
| 12 February 2026 | −4.9% |
| 12 November 2025 | −3.0% |
| 12 August 2025 | −1.1% |
| 15 May 2025 | +1.9% |
| 12 February 2025 | −2.8% |
| 11 November 2024 | −2.1% |
Source: MarketPing price-reaction measurement.
How did other Plastic Products - Industrial companies do?
Twenty-two Plastic Products - Industrial companies had filed for the quarter by 6 November 2026. Their median revenue growth was 29.4%. The peer data does not provide the number of other companies whose revenue grew slower than Tijaria Polypipes or faster than it, because Tijaria Polypipes reported revenue of ₹0 crore and no company growth percentage.
Profit was higher for 13 of the 25 peers for which profit was compared. The peer file does not state how many of the other companies grew profit relative to Tijaria Polypipes, whose net loss narrowed to ₹0.31 crore from ₹0.40 crore in Q2 FY26.
| Tijaria Polypipes revenue growth (YoY) | not comparable |
|---|---|
| Median of 22 other Plastic Products - Industrial companies | +29.4% |
| Companies whose net profit rose | 13 of 25 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Tijaria Polypipes' revenue in Q2 FY27?
Revenue from operations was ₹0 crore, against ₹0 crore in Q2 FY26 (standalone).
Did Tijaria Polypipes make a profit in Q2 FY27?
No. It reported a net loss of ₹0.31 crore, against a net loss of ₹0.40 crore in Q2 FY26.
What was Tijaria Polypipes' EPS in Q2 FY27?
Basic loss per share was ₹0.11, against a loss of ₹0.28 in Q2 FY26.
How did Tijaria Polypipes shares react to the Q2 FY27 results?
On the reaction day the stock moved +5.4% from the previous close; the median Plastic Products - Industrial stock moved +0.5%.
When did Tijaria Polypipes announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for DECLARATION OF FINANCIAL RESULTS FOR THE QUARTER AND HALF YEARS ENDED 30-9-2026 (BSE, 27 October 2026) · PDF
- Board Meeting Outcome for Considered And Approved Standalone Un-Audited Financial Results Together With Limited Review Report Thereon For The Quarter And Half Year Ended On September 30, 2026 Together With The Limited Review Report Thereon. (BSE, 4 November 2026) · PDF
- UNAUDITED FINANICAL RESULT FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 31 2026 (BSE, 4 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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