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Tokyo Plast International Q2 FY27 results: net loss of ₹2.38 crore vs ₹0.64 crore profit, revenue down 3.8%
Tokyo Plast International Limited reported a consolidated net loss of ₹2.38 crore in Q2 FY27, its second consecutive quarterly loss, as revenue declined 3.8% to ₹20.29 crore and total expenses rose 11.1% to ₹22.57 crore. EBITDA turned negative at ₹0.58 crore, a margin of -2.9%, against 10.3% a year earlier. For the first half, revenue rose 2.1% to ₹40.12 crore while profit after tax moved from ₹0.72 crore to a loss of ₹2.59 crore.
Key points
- Consolidated revenue for Q2 FY27 was ₹20.29 crore, down 3.8% from ₹21.09 crore in Q2 FY26 and up 2.3% from ₹19.83 crore in Q1 FY27.
- The company reported a net loss of ₹2.38 crore in Q2 FY27 against a net profit of ₹0.64 crore in Q2 FY26; basic EPS was -5.02 against 1.34.
- EBITDA was negative ₹0.58 crore in Q2 FY27, down ₹2.75 crore from ₹2.17 crore, with the margin at -2.9% against 10.3% a year earlier.
- H1 FY27 revenue was ₹40.12 crore, up 2.1% from ₹39.29 crore, but profit after tax turned to a loss of ₹2.59 crore from a profit of ₹0.72 crore.
- Total assets rose to ₹142.04 crore as of 30 September 2026 from ₹135.80 crore at 31 March 2026, while borrowings rose to ₹52.09 crore from ₹46.32 crore and cash fell to ₹0.51 crore from ₹5.31 crore.
How did Tokyo Plast International perform in Q2 FY27?
Tokyo Plast International reported consolidated revenue of ₹20.29 crore for Q2 FY27, down 3.8% from ₹21.09 crore in Q2 FY26 and up 2.3% from ₹19.83 crore in the previous quarter. Total expenses rose to ₹22.57 crore from ₹20.31 crore a year earlier. EBITDA moved into negative territory at ₹0.58 crore from ₹2.17 crore, taking the margin to -2.9% from 10.3%.
The bottom line followed. Profit before tax was a loss of ₹2.28 crore against a profit of ₹0.78 crore in Q2 FY26, and after tax of ₹0.11 crore the company reported a net loss of ₹2.38 crore against a net profit of ₹0.64 crore. Basic EPS was -5.02 against 1.34. Against Q1 FY27, the net loss widened from ₹0.20 crore, and EPS fell from -0.21.
On a standalone basis, the company reported revenue of ₹20.51 crore for the quarter and a profit after tax of ₹0.38 crore, against ₹0.70 crore in the year-ago period. The board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026 on 4 November 2026, and the auditors issued limited review reports with unmodified opinions.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 20.29 | 19.83 | 21.09 | −3.8% | +2.3% |
| Other income | 0 | 0.01 | 0.01 | ||
| Total expenses | 22.57 | 19.96 | 20.31 | +11.1% | +13.1% |
| EBITDA | −0.58 | 1.09 | 2.17 | turned to loss | turned to loss |
| EBITDA margin | -2.9% | 5.5% | 10.3% | −13.2 pp | −8.4 pp |
| Profit before tax | −2.28 | −0.13 | 0.78 | turned to loss | |
| Tax | 0.11 | 0.07 | 0.15 | −26.7% | +57.1% |
| Net profit | −2.38 | −0.20 | 0.64 | turned to loss | |
| EPS (₹) | −5.02 | −0.21 | 1.34 | 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 Tokyo Plast International's costs and profit?
Total expenses rose ₹2.26 crore, or 11.1%, to ₹22.57 crore in Q2 FY27 from ₹20.31 crore in Q2 FY26, against revenue that fell 3.8%. The largest increase was in other expenses, which rose ₹1.53 crore, or 39.8%, to ₹5.37 crore from ₹3.84 crore. Depreciation rose ₹0.28 crore, or 37.3%, to ₹1.03 crore, and employee cost rose ₹0.27 crore, or 6.9%, to ₹4.18 crore.
Cost of materials fell ₹2.47 crore, or 21.2%, to ₹9.20 crore from ₹11.67 crore. Finance costs were nearly unchanged at ₹0.66 crore, up ₹0.01 crore, or 1.5%. Other income was nil, against ₹0.01 crore a year earlier, and there was no exceptional item in either period. Tax was ₹0.11 crore against ₹0.15 crore in Q2 FY26.
The filing does not state why the increase in other expenses or the fall in profit occurred. The figures show that the fall in revenue and the rise in employee cost, depreciation, finance costs and other expenses outpaced the reduction in material cost. Against Q1 FY27, total expenses rose ₹2.61 crore, or 13.1%, with other expenses up ₹0.55 crore, depreciation up ₹0.29 crore and finance costs up ₹0.17 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 9.20 | 11.67 | −2.47 | −21.2% |
| Employee cost | 4.18 | 3.91 | +0.27 | +6.9% |
| Finance costs | 0.66 | 0.65 | +0.01 | +1.5% |
| Depreciation | 1.03 | 0.75 | +0.28 | +37.3% |
| Other expenses | 5.37 | 3.84 | +1.53 | +39.8% |
| Total expenses | 22.57 | 20.31 | +2.26 | +11.1% |
| Other income | 0 | 0.01 | −0.01 | |
| Tax | 0.11 | 0.15 | −0.04 | −26.7% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹40.12 crore against ₹39.29 crore in H1 FY26, an increase of ₹0.83 crore or 2.1%. Total income was also ₹40.12 crore against ₹39.3 crore in the year-ago period.
Profit moved the other way. Profit before tax was a loss of ₹2.41 crore in H1 FY27 against a profit of ₹0.89 crore in H1 FY26, a difference of ₹3.3 crore, and profit after tax was a loss of ₹2.59 crore against ₹0.72 crore, a difference of ₹3.31 crore. EPS was -5.44 against 1.52. On a standalone basis, revenue was ₹20.51 crore and profit after tax was ₹0.38 crore, against ₹0.70 crore a year earlier.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 40.12 | 39.29 | +2.1% |
| Profit before tax | −2.41 | 0.89 | turned to loss |
| Net profit | −2.59 | 0.72 | turned to loss |
| EPS (₹) | −5.44 | 1.52 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets stood at ₹142.04 crore against ₹135.80 crore at 31 March 2026. Total equity was ₹60.36 crore against ₹62.70 crore. Borrowings rose to ₹52.09 crore from ₹46.32 crore, while cash and cash equivalents fell to ₹0.51 crore from ₹5.31 crore. Inventories were ₹23.73 crore against ₹19.89 crore, trade receivables ₹16.93 crore against ₹14.89 crore, and trade payables ₹11.05 crore against ₹9.05 crore.
The cash flow statement for the half year shows operating cash flow of negative ₹3.43 crore against negative ₹4.21 crore in H1 FY26. Investing cash flow was negative ₹6.35 crore against positive ₹6.75 crore a year earlier, and financing cash flow was ₹4.98 crore against ₹11.01 crore. Capital expenditure in H1 FY27 was ₹6.0 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 142.04 | 135.80 |
| Total equity | 60.36 | 62.70 |
| Borrowings | 52.09 | 46.32 |
| Cash and equivalents | 0.51 | 5.31 |
| Inventories | 23.73 | 19.89 |
| Trade receivables | 16.93 | 14.89 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −3.43 | −4.21 |
| Cash from investing | −6.35 | 6.75 |
| Cash from financing | 4.98 | 11.01 |
| Capital expenditure | 6 | −6.95 |
Source: Company's results filing (XBRL).
How has Tokyo Plast International done over the last 8 quarters?
Revenue over the last eight quarters ranged from ₹17.14 crore in Q3 FY26 to ₹22.88 crore in Q4 FY26. It has since eased, with ₹19.83 crore in Q1 FY27 and ₹20.29 crore in Q2 FY27, a modest rise from the previous quarter.
Profit has been weaker. The company reported a net profit of ₹0.64 crore in Q2 FY26, then a net loss of ₹0.13 crore in Q3 FY26, ₹0.04 crore of profit in Q4 FY26, and a net loss of ₹0.20 crore in Q1 FY27. The Q2 FY27 net loss of ₹2.38 crore was the lowest in the series shown.
The EBITDA margin moved from 13.5% in Q4 FY25, the peak in the series, to 5.5% in Q1 FY27 and -2.9% in Q2 FY27, the lowest. The direction across the last two quarters is downward on both profit and margin.
How did Tokyo Plast International shares react?
Earlier results-day reactions were mixed. The stock fell 3.8% on 27 July 2026 and 3.9% on 13 January 2026, rose 0.5% on 29 April 2026 and 2.1% on 15 October 2025, and moved 0.8% on 27 January 2025. Earlier moves included a fall of 2.1% on 22 October 2024 and a rise of 2.5% on 8 August 2024.
| After the filing | Stock |
|---|---|
| Reaction day | −0.6% |
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 |
|---|---|
| 27 July 2026 | −3.8% |
| 29 April 2026 | +0.5% |
| 13 January 2026 | −3.9% |
| 15 October 2025 | +2.1% |
| 21 July 2025 | −0.3% |
| 27 January 2025 | +0.8% |
| 22 October 2024 | −2.1% |
| 8 August 2024 | +2.5% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Tokyo Plast International's revenue in Q2 FY27?
Revenue from operations was ₹20.29 crore, down 3.8% from ₹21.09 crore in Q2 FY26 (consolidated).
Did Tokyo Plast International make a profit in Q2 FY27?
No. It reported a net loss of ₹2.38 crore, against a net profit of ₹0.64 crore in Q2 FY26.
What was Tokyo Plast International's EPS in Q2 FY27?
Basic loss per share was ₹5.02, against ₹1.34 in Q2 FY26.
How did Tokyo Plast International shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.6% from the previous close.
When did Tokyo Plast International announce its Q2 FY27 results?
On 4 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of The Unaudited Financial Results (Standalone & Consolidated) Of The Company For The Quarter And Half-Year Ended 30Th September, 2026. (BSE, 27 October 2026) · PDF
- Outcome of Board Meeting (NSE, 4 November 2026) · PDF
- Results - Financial Results For Quarter And Half Year Ended September 30, 2026 (BSE, 5 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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