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Trustwave Securities Q2 FY27 results: net loss widens to ₹0.09 crore
Trustwave Securities Limited reported a standalone net loss of ₹0.09 crore for Q2 FY27, the quarter ended 30 September 2026. The loss narrowed from ₹0.13 crore in Q1 FY27 but widened from ₹0.03 crore in Q2 FY26, as total expenses rose to ₹0.09 crore on no revenue and no other income. The board approved the unaudited standalone results on 4 November 2026.
Key points
- Standalone revenue was ₹0 crore in Q2 FY27, unchanged from Q2 FY26 and Q1 FY27.
- The company reported a net loss of ₹0.09 crore in Q2 FY27, against a net loss of ₹0.03 crore in Q2 FY26 and ₹0.13 crore in Q1 FY27.
- Total expenses rose 200.0% year on year to ₹0.09 crore, while other expenses rose 250.0% to ₹0.07 crore.
- Basic EPS was -₹2.81 for the quarter, compared with -₹0.04 in Q2 FY26 and -₹3.89 in Q1 FY27.
- For H1 FY27, the company reported a net loss of ₹0.22 crore and basic EPS of -₹6.70, against a net loss of ₹0.08 crore and EPS of -₹0.01 in H1 FY26.
How did Trustwave Securities perform in Q2 FY27?
Trustwave Securities reported standalone revenue of ₹0 crore and other income of ₹0 crore for Q2 FY27, the quarter ended 30 September 2026. Total expenses were ₹0.09 crore, resulting in an EBITDA loss of ₹0.09 crore and a net loss of ₹0.09 crore after tax of ₹0 crore. Basic EPS was -₹2.81. The results were approved by the board on 4 November 2026 and carried a limited review from the statutory auditors.
Against Q2 FY26, revenue was unchanged at ₹0 crore, but total expenses rose by ₹0.06 crore, or 200.0%, to ₹0.09 crore. The EBITDA loss widened by ₹0.06 crore to ₹0.09 crore, the profit before tax loss widened by ₹0.06 crore to ₹0.09 crore, and the net loss widened by ₹0.06 crore to ₹0.09 crore. Basic EPS fell by ₹2.77 to -₹2.81.
Against the previous quarter, Q1 FY27, the loss narrowed. Total expenses fell by ₹0.04 crore, or 30.8%, to ₹0.09 crore, and the EBITDA loss, profit before tax loss and net loss each narrowed by ₹0.04 crore to ₹0.09 crore. Basic EPS improved by ₹1.08 to -₹2.81 from -₹3.89. No consolidated figures were given for the quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0 | 0 | 0 | ||
| Other income | 0 | 0 | 0 | ||
| Total expenses | 0.09 | 0.13 | 0.03 | +200.0% | −30.8% |
| EBITDA | −0.09 | −0.13 | −0.03 | ||
| Profit before tax | −0.09 | −0.13 | −0.03 | ||
| Tax | 0 | 0 | 0 | ||
| Net profit | −0.09 | −0.13 | −0.03 | ||
| EPS (₹) | −2.81 | −3.89 | −0.04 |
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 Trustwave Securities' costs and profit?
Total expenses for Q2 FY27 were ₹0.09 crore, up ₹0.06 crore from ₹0.03 crore in Q2 FY26, an increase of 200.0%. Other expenses accounted for most of the rise, at ₹0.07 crore against ₹0.02 crore a year earlier, a difference of ₹0.05 crore or 250.0%. Employee benefits expenses were ₹0.02 crore, up ₹0.01 crore or 100.0% from ₹0.01 crore.
Finance costs, depreciation, cost of materials consumed, other income and tax were unchanged at ₹0 crore against Q2 FY26. There was no exceptional item in the quarter. The filing does not state a reason for the increase in other expenses, and the figures show no revenue from operations or other income during the period.
Employee benefits expenses were ₹0.02 crore in Q2 FY27 against ₹0.01 crore in Q1 FY27, a difference of ₹0.01 crore or 100.0%. Other expenses fell by ₹0.05 crore, or 41.7%, from ₹0.12 crore to ₹0.07 crore, while total expenses declined by ₹0.04 crore, or 30.8%, to ₹0.09 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.02 | 0.01 | +0.01 | +100.0% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0 | 0 | 0 | |
| Other expenses | 0.07 | 0.02 | +0.05 | +250.0% |
| Total expenses | 0.09 | 0.03 | +0.06 | +200.0% |
| Other income | 0 | 0 | 0 | |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, the company reported revenue of ₹0 crore and other income of ₹0 crore, both unchanged from H1 FY26. Total expenses for the half year were ₹0.09 crore against ₹0.03 crore in H1 FY26. The company reported a net loss of ₹0.22 crore for H1 FY27, against a net loss of ₹0.08 crore in H1 FY26, a difference of ₹0.14 crore.
Basic EPS for H1 FY27 was -₹6.70, compared with -₹0.01 in H1 FY26, a difference of ₹6.69. The profit before tax loss for the half year was ₹0.22 crore against ₹0.08 crore in the year-ago period. The half-year figures were reviewed by the audit committee and limited-reviewed by the statutory auditors.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 0 | 0 | |
| Profit before tax | −0.22 | −0.08 | |
| Net profit | −0.22 | −0.08 | |
| EPS (₹) | −6.70 | −0.01 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹1.07 crore, down from ₹1.25 crore at 31 March 2026. Total equity was negative ₹1.22 crore, compared with negative ₹1.00 crore at the previous balance sheet date. Borrowings were unchanged at ₹2.19 crore, while cash fell from ₹0.18 crore to ₹0 crore. Trade payables were ₹0.09 crore against ₹0 crore, with no inventories and no trade receivables in either period.
For H1 FY27, cash flow from operating activities was negative ₹0.21 crore, compared with negative ₹0.06 crore in H1 FY26. Investing cash flow was negative ₹0.37 crore in H1 FY27 against ₹0 crore in the year-ago period, and financing cash flow was ₹0 crore against ₹0.11 crore. There was no capital expenditure in either half year.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1.07 | 1.25 |
| Total equity | −1.22 | −1 |
| Borrowings | 2.19 | 2.19 |
| Cash and equivalents | 0 | 0.18 |
| Inventories | 0 | 0 |
| Trade receivables | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −0.21 | −0.06 |
| Cash from investing | −0.37 | 0 |
| Cash from financing | 0 | 0.11 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Trustwave Securities done over the last 5 quarters?
Revenue over the last five quarters was ₹0 crore in Q2 FY26, Q3 FY26, Q1 FY27 and Q2 FY27, and reached ₹0.15 crore in Q4 FY26. That was the only quarter in the period with revenue, and it was the peak in the series. The latest quarter returned to no revenue.
Net profit followed a different path. It was a loss of ₹0.03 crore in Q2 FY26 and ₹0.05 crore in Q3 FY26, then a profit of ₹0.07 crore in Q4 FY26, the highest figure in the period. The company then reported a loss of ₹0.13 crore in Q1 FY27, the lowest, before the loss narrowed to ₹0.09 crore in Q2 FY27. EBITDA margin reached 84.9% in Q4 FY26 and was not reported in the other quarters.
Quick answers
What was Trustwave Securities' revenue in Q2 FY27?
Revenue from operations was ₹0 crore, against ₹0 crore in Q2 FY26 (standalone).
Did Trustwave Securities make a profit in Q2 FY27?
No. It reported a net loss of ₹0.09 crore, against a net loss of ₹0.03 crore in Q2 FY26.
What was Trustwave Securities' EPS in Q2 FY27?
Basic loss per share was ₹2.81, against a loss of ₹0.04 in Q2 FY26.
When did Trustwave Securities announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration Of Unaudited Financial Results For The Quarter And Half Year Ended 30Th September, 2026. (BSE, 29 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On Wednesday, 4Th November, 2026 (BSE, 4 November 2026) · PDF
- Results - Financial Results For The Quarter And Half Year Ended 30Th September, 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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