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TruCap Finance Q2 FY27 results: net loss narrows to ₹22.15 crore, revenue up 3.1%
TruCap Finance Limited reported consolidated revenue of ₹23.52 crore for Q2 FY27, up 3.1% from ₹22.81 crore in the year-ago quarter and 108.7% from ₹11.27 crore in the previous quarter. The company reported a net loss of ₹22.15 crore and basic EPS of -₹0.92, while the standalone loss was ₹19.11 crore.
Key points
- Consolidated revenue was ₹23.52 crore, up ₹0.71 crore or 3.1% from Q2 FY26 and up ₹12.25 crore or 108.7% from Q1 FY27.
- The company reported a net loss of ₹22.15 crore, compared with a net loss of ₹32.89 crore in Q2 FY26 and a net loss of ₹10.58 crore in Q1 FY27.
- Basic EPS was -₹0.92, compared with -₹2.81 in the year-ago quarter and -₹0.89 in the previous quarter.
- Total expenses were ₹52.80 crore, down ₹17.41 crore or 24.8% from Q2 FY26, but up ₹26.55 crore or 101.1% from Q1 FY27.
- The auditors reported unmodified conclusions while drawing attention to material uncertainty related to going concern, citing loan-covenant breaches, financial stress, deteriorating asset quality, a restructuring plan and potential equity infusion.
How did TruCap Finance perform in Q2 FY27?
TruCap Finance reported consolidated revenue of ₹23.52 crore for Q2 FY27, up 3.1% from ₹22.81 crore in Q2 FY26 and 108.7% from ₹11.27 crore in Q1 FY27. Total income was ₹25.31 crore, compared with ₹24.62 crore a year earlier and ₹12.22 crore in the previous quarter. Basic EPS was -₹0.92, against -₹2.81 in Q2 FY26 and -₹0.89 in Q1 FY27.
The company reported a net loss of ₹22.15 crore for the quarter, against a net loss of ₹32.89 crore in Q2 FY26 and a net loss of ₹10.58 crore in Q1 FY27. Loss before tax was ₹27.49 crore, compared with ₹45.59 crore a year earlier and ₹14.04 crore in the previous quarter. The standalone results showed revenue of ₹23.52 crore and a net loss of ₹19.11 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 23.52 | 11.27 | 22.81 | +3.1% | +108.7% |
| Other income | 1.78 | 0.95 | 1.81 | −1.7% | +87.4% |
| Total expenses | 52.80 | 26.25 | 70.21 | −24.8% | +101.1% |
| Profit before tax | −27.49 | −14.04 | −45.59 | ||
| Tax | −5.34 | −3.46 | −12.70 | ||
| Net profit | −22.15 | −10.58 | −32.89 | ||
| EPS (₹) | −0.92 | −0.89 | −2.81 |
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 TruCap Finance's costs and profit?
Total expenses fell ₹17.41 crore or 24.8% from ₹70.21 crore in Q2 FY26 to ₹52.80 crore in Q2 FY27. Finance costs declined ₹6.42 crore or 31.4% to ₹14.01 crore, while other expenses fell ₹0.36 crore or 3.7% to ₹9.34 crore. Employee cost rose ₹4.44 crore or 46.5% to ₹13.99 crore, and depreciation rose ₹1.19 crore or 58.0% to ₹3.24 crore. Other income declined ₹0.03 crore or 1.7% to ₹1.78 crore, and there was no exceptional item.
Against Q1 FY27, total expenses rose ₹26.55 crore or 101.1% from ₹26.25 crore to ₹52.80 crore. Employee cost increased ₹6.99 crore or 99.9% to ₹13.99 crore, finance costs rose ₹9.55 crore or 214.1% to ₹14.01 crore, depreciation rose ₹1.63 crore or 101.2% to ₹3.24 crore, and other expenses rose ₹3.14 crore or 50.6% to ₹9.34 crore. Other income rose ₹0.83 crore or 87.4% to ₹1.78 crore; there was no exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Employee cost | 13.99 | 9.55 | +4.44 | +46.5% |
| Finance costs | 14.01 | 20.43 | −6.42 | −31.4% |
| Depreciation | 3.24 | 2.05 | +1.19 | +58.0% |
| Other expenses | 9.34 | 9.70 | −0.36 | −3.7% |
| Total expenses | 52.80 | 70.21 | −17.41 | −24.8% |
| Other income | 1.78 | 1.81 | −0.03 | −1.7% |
| Tax | −5.34 | −12.70 | +7.36 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹371.69 crore on 30 September 2026, compared with ₹391.51 crore on 31 March 2026. Total equity was ₹28.78 crore, compared with ₹51.00 crore, while cash was ₹9.01 crore, compared with ₹8.34 crore. No borrowing figure was provided in the supplied data for either balance sheet date.
For H1 FY27, operating cash flow was negative ₹10.92 crore, compared with positive ₹126.79 crore in H1 FY26. Investing cash flow was positive ₹1.47 crore, compared with ₹41.83 crore, while financing cash flow was positive ₹10.12 crore, compared with negative ₹202.46 crore. Capex was ₹0.00 crore in H1 FY27, compared with negative ₹0.01 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 371.69 | 391.51 |
| Total equity | 28.78 | 51 |
| Cash and equivalents | 9.01 | 8.34 |
| Inventories | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −10.92 | 126.79 |
| Cash from investing | 1.47 | 41.83 |
| Cash from financing | 10.12 | −202.46 |
| Capital expenditure | 0 | −0.01 |
Source: Company's results filing (XBRL).
How has TruCap Finance done over the last 8 quarters?
Revenue peaked at ₹51.57 crore in Q3 FY25 and fell to ₹15.10 crore in Q3 FY26 before recovering to ₹29.65 crore in Q4 FY26, declining to ₹11.27 crore in Q1 FY27 and rising to ₹23.52 crore in Q2 FY27. The net loss was ₹67.73 crore in Q4 FY25 and ₹58.60 crore in Q4 FY26, while Q2 FY27 reported a net loss of ₹22.15 crore.
The supplied quarterly series does not include an EBITDA margin, so no revenue-margin peak or trough is stated. Profit remained a loss in each of the reported quarters, with Q2 FY27 showing higher revenue and a smaller net loss than Q1 FY27.
Which businesses drove the quarter?
Fund Based Activities reported revenue of ₹25.31 crore, up 7.2% from ₹23.61 crore in the year-ago quarter, and EBIT of negative ₹27.15 crore compared with negative ₹44.91 crore. The segment’s reported EBIT margin was -107.3%.
Advisory Services reported revenue of ₹0.00 crore and EBIT of negative ₹0.47 crore, against revenue of ₹0.00 crore and EBIT of negative ₹0.42 crore in the year-ago quarter. No revenue growth or EBIT-margin figure was given for the segment.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| - Fund Based Activities | 25.31 | +7.2% | −27.15 | -107.3% |
| - Advisory Services | 0 | −0.47 |
Source: Company's results filing (XBRL segment data).
What did the auditors point out?
The Independent Auditor’s Review Report stated that nothing had come to the auditors’ attention that caused them to believe the unaudited standalone financial results had not disclosed the required information or contained a material misstatement. The auditors expressed an unmodified conclusion for the relevant reviews and an unmodified opinion on the standalone financial statements for the year ended 31 March 2026.
The report included a “Material Uncertainty Related to Going Concern” section, without qualifying the report. The auditors referred to breaches of security-cover and other loan covenants, continued financial stress including deteriorating asset quality, a restructuring plan presented to existing lenders and potential equity infusion. They said the going concern of the company was dependent on the restructuring plan and potential equity infusion, while their conclusion remained unmodified.
How did TruCap Finance shares react?
Earlier results-day moves included declines of 2.2% on 13 August 2026, 1.6% on 25 May 2026, 7.6% on 11 February 2026 and 2.3% on 13 November 2025. The stock had also fallen 5.0% on 14 August 2025 and risen 5.0% on 26 May 2025, with other reactions of 3.1% on 4 November 2024 and -2.3% on 13 February 2025.
| After the filing | Stock | Non Banking Financial Company (NBFC) median |
|---|---|---|
| 5 minutes | −0.3% | |
| 15 minutes | −0.3% | |
| 30 minutes | −1.3% | |
| Reaction day | −2.3% | +0.0% |
| Next day | −2.3% | −0.1% |
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 |
|---|---|
| 13 August 2026 | −2.2% |
| 25 May 2026 | −1.6% |
| 11 February 2026 | −7.6% |
| 13 November 2025 | −2.3% |
| 14 August 2025 | −5.0% |
| 26 May 2025 | +5.0% |
| 13 February 2025 | −2.3% |
| 4 November 2024 | +3.1% |
Source: MarketPing price-reaction measurement.
How did other Non Banking Financial Company (NBFC) companies do?
Among the 76 other Non Banking Financial Company (NBFC) companies compared for the quarter, the median revenue growth was 22.1%. Of these peers, 19 grew more slowly than TruCap Finance and 57 grew faster than TruCap Finance.
Among the 84 peers for profit comparison, 55 reported higher profit. The peer data was available as of 4 November 2026.
| TruCap Finance revenue growth (YoY) | +3.1% |
|---|---|
| Median of 76 other Non Banking Financial Company (NBFC) companies | +22.1% |
| Companies with slower revenue growth than TruCap Finance | 19 of 76 |
| Companies with faster revenue growth than TruCap Finance | 57 of 76 |
| Companies whose net profit rose | 55 of 84 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was TruCap Finance's revenue in Q2 FY27?
Revenue from operations was ₹23.52 crore, up 3.1% from ₹22.81 crore in Q2 FY26 (consolidated).
Did TruCap Finance make a profit in Q2 FY27?
No. It reported a net loss of ₹22.15 crore, against a net loss of ₹32.89 crore in Q2 FY26.
What was TruCap Finance's EPS in Q2 FY27?
Basic loss per share was ₹0.92, against a loss of ₹2.81 in Q2 FY26.
How did TruCap Finance shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.3% from the previous close; the median Non Banking Financial Company (NBFC) stock moved +0.0%.
When did TruCap Finance announce its Q2 FY27 results?
On 28 October 2026, in a filing to the NSE.
Sources
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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