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Welcast Steels Q2 FY27 results: net loss narrows to ₹0.51 crore, revenue down 97.8%
Welcast Steels Limited reported standalone results for Q2 FY27, with revenue of ₹0.46 crore and a net loss of ₹0.51 crore. Revenue was lower than both Q2 FY26 and Q1 FY27, while the EBITDA margin was -184.5% against -89.1% in the previous quarter. The results were announced on 30 October 2026.
Key points
- Revenue was ₹0.46 crore in Q2 FY27, down 97.8% from ₹20.65 crore in Q2 FY26.
- The company reported a net loss of ₹0.51 crore in Q2 FY27 against a net loss of ₹3.23 crore in Q2 FY26.
- EBITDA was a loss of ₹0.86 crore, with an EBITDA margin of -184.5% compared with -89.1% in Q1 FY27.
- Total expenses fell to ₹1.42 crore from ₹21.41 crore in the year-ago quarter.
- Basic EPS was -₹8.00 for the quarter, compared with -₹11.27 in Q1 FY27 and -₹50.64 in Q2 FY26.
How did Welcast Steels perform in Q2 FY27?
Welcast Steels reported standalone revenue of ₹0.46 crore in Q2 FY27, down ₹20.19 crore from ₹20.65 crore in Q2 FY26. Total income was ₹0.91 crore against ₹21.01 crore in the year-ago quarter. EBITDA was a loss of ₹0.86 crore, with an EBITDA margin of -184.5%, compared with a loss of ₹0.58 crore and a margin of -2.8% a year earlier.
The company reported a net loss of ₹0.51 crore in Q2 FY27, against a net loss of ₹3.23 crore in Q2 FY26 and a net loss of ₹0.72 crore in Q1 FY27. Profit before tax was a loss of ₹0.51 crore, against ₹3.39 crore a year earlier. Basic EPS was -₹8.00, compared with -₹11.27 in the previous quarter and -₹50.64 in the year-ago quarter. The results are on a standalone basis.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0.46 | 1.22 | 20.65 | −97.8% | −62.3% |
| Other income | 0.45 | 0.46 | 0.36 | +25.0% | −2.2% |
| Total expenses | 1.42 | 2.40 | 21.41 | −93.4% | −40.8% |
| EBITDA | −0.86 | −1.08 | −0.58 | ||
| EBITDA margin | -184.5% | -89.1% | -2.8% | −181.7 pp | −95.4 pp |
| Profit before tax | −0.51 | −0.72 | −3.39 | ||
| Tax | 0 | 0 | −0.16 | ||
| Net profit | −0.51 | −0.72 | −3.23 | ||
| EPS (₹) | −8.00 | −11.27 | −50.64 |
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 Welcast Steels' costs and profit?
Total expenses in Q2 FY27 were ₹1.42 crore, down ₹19.99 crore from ₹21.41 crore in Q2 FY26. Cost of materials consumed fell ₹12.12 crore to ₹0.10 crore, employee benefit expense fell ₹1.85 crore to ₹0.54 crore, depreciation fell ₹0.08 crore to ₹0.10 crore, and other expenses fell ₹5.70 crore to ₹0.68 crore. Finance costs were unchanged at ₹0 crore.
Other income was ₹0.45 crore in Q2 FY27, up ₹0.09 crore from ₹0.36 crore in the year-ago quarter. There was no exceptional item in Q2 FY27, while the year-ago quarter included an exceptional charge of ₹2.99 crore. The tax line was ₹0 crore against a credit of ₹0.16 crore a year earlier. The filing states that other operating revenue in the current quarter represents revenue realised from the sale of inventories following closure of the company's manufacturing operations.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0.10 | 12.22 | −12.12 | −99.2% |
| Employee cost | 0.54 | 2.39 | −1.85 | −77.4% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0.10 | 0.18 | −0.08 | −44.4% |
| Other expenses | 0.68 | 6.38 | −5.70 | −89.3% |
| Total expenses | 1.42 | 21.41 | −19.99 | −93.4% |
| Other income | 0.45 | 0.36 | +0.09 | +25.0% |
| Tax | 0 | −0.16 | +0.16 | |
| Exceptional items | none | −2.99 (charge) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Welcast Steels reported standalone revenue of ₹1.68 crore, down ₹41.76 crore from ₹43.44 crore in H1 FY26. Total income was ₹2.59 crore against ₹44.21 crore in the year-ago half year. The company reported a net loss of ₹1.23 crore in H1 FY27, compared with a net loss of ₹3.53 crore in H1 FY26.
Profit before tax in H1 FY27 was a loss of ₹1.23 crore, against a loss of ₹3.79 crore in H1 FY26. Basic EPS was -₹19.26 for the half year, compared with -₹55.25 in the year-ago period.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1.68 | 43.44 | −96.1% |
| Profit before tax | −1.23 | −3.79 | |
| Net profit | −1.23 | −3.53 | |
| EPS (₹) | −19.26 | −55.25 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
For H1 FY27, operating cash flow was ₹0.32 crore, compared with ₹3.21 crore in H1 FY26. Investing cash flow was a outflow of ₹0.98 crore in H1 FY27, against an outflow of ₹3.59 crore in the year-ago period. Financing cash flow was a outflow of ₹0.00 crore in both periods, and capital expenditure was ₹0.00 crore against ₹0.01 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 34.26 | 35.60 |
| Total equity | 33.19 | 34.42 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 0.11 | 0.77 |
| Inventories | 2.54 | 4.08 |
| Trade receivables | 0.54 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 0.32 | 3.21 |
| Cash from investing | −0.98 | −3.59 |
| Cash from financing | 0 | 0 |
| Capital expenditure | 0 | 0.01 |
Source: Company's results filing (XBRL).
How has Welcast Steels done over the last 8 quarters?
Revenue peaked at ₹23.08 crore in Q3 FY25 and fell to ₹0.46 crore in Q2 FY27, the lowest of the last eight quarters. The company reported a net profit of ₹0.19 crore in Q4 FY25, and the highest quarterly profit in the series was ₹1.38 crore in Q4 FY26, followed by a net loss of ₹0.51 crore in Q2 FY27.
The EBITDA margin was at its highest at 47.8% in Q4 FY26 and at its lowest at -184.5% in Q2 FY27. Before the plant closure, revenue was ₹20.81 crore in Q4 FY25, ₹22.79 crore in Q1 FY26 and ₹20.65 crore in Q2 FY26, before falling to ₹2.62 crore in Q3 FY26 and ₹0.46 crore in Q2 FY27.
What did the auditors point out?
The statutory auditors, DAGLIYA & CO., expressed an unmodified conclusion and drew attention to Note (iii) of the unaudited financial results for the quarter and half year ended 30 September 2026 in their Emphasis of Matter. The note relates to management's decision to permanently close the company's only factory at Plot No. 15, Phase I, Peenya Industrial Area, Bangalore, with effect from the close of business hours on 15 December 2025.
The auditors stated that following the cessation of manufacturing activities, the Factory Licence and sanctioned power facilities were surrendered. They also stated that labour disputes are pending before various courts and other judicial forums, that management intends to maintain the status quo, and that the company has no plans to recommence operations in the foreseeable future. The report is dated 30 October 2026.
How did Welcast Steels shares react?
The stock was quoted in market after the filing. It was up 9.2% at both 15 minutes and 30 minutes from the price when the filing appeared, but by the close of the first session that could trade on the news it was down 5.7% from the previous close of ₹602.00. By the next day's close, it was down 5.3% from the pre-results close.
Earlier reaction-day moves were 3.1% on 5 August 2026, -0.3% on 20 May 2026, 1.0% on 29 January 2026, 1.1% on 5 November 2025, 0.7% on 6 August 2025, 20.0% on 20 May 2025, -9.9% on 7 August 2024 and -7.2% on 13 May 2024.
| After the filing | Stock | Other Industrial Products median |
|---|---|---|
| 15 minutes | +9.2% | |
| 30 minutes | +9.2% | |
| Reaction day | −5.7% | −1.1% |
| Next day | −5.3% | +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 |
|---|---|
| 5 August 2026 | +3.1% |
| 20 May 2026 | −0.3% |
| 29 January 2026 | +1.0% |
| 5 November 2025 | +1.1% |
| 6 August 2025 | +0.7% |
| 20 May 2025 | +20.0% |
| 7 August 2024 | −9.9% |
| 13 May 2024 | −7.2% |
Source: MarketPing price-reaction measurement.
How did other Other Industrial Products companies do?
Eleven other Other Industrial Products companies had filed for this quarter as of 4 November 2026. Their median revenue growth was 16.3%, and all 11 peers grew faster than Welcast Steels, with none growing slower. Of the seven peers for which profit was compared, four reported higher profit.
| Welcast Steels revenue growth (YoY) | −97.8% |
|---|---|
| Median of 11 other Other Industrial Products companies | +16.3% |
| Companies with slower revenue growth than Welcast Steels | 0 of 11 |
| Companies with faster revenue growth than Welcast Steels | 11 of 11 |
| Companies whose net profit rose | 4 of 7 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Welcast Steels' revenue in Q2 FY27?
Revenue from operations was ₹0.46 crore, down 97.8% from ₹20.65 crore in Q2 FY26 (standalone).
Did Welcast Steels make a profit in Q2 FY27?
No. It reported a net loss of ₹0.51 crore, against a net loss of ₹3.23 crore in Q2 FY26.
What was Welcast Steels' EPS in Q2 FY27?
Basic loss per share was ₹8.00, against a loss of ₹50.64 in Q2 FY26.
How did Welcast Steels shares react to the Q2 FY27 results?
On the reaction day the stock moved −5.7% from the previous close; the median Other Industrial Products stock moved −1.1%.
When did Welcast Steels announce its Q2 FY27 results?
On 30 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for The Approval Of Unaudited Financial Results Of The Company For The Quarter/Half Year Ended On 30Th September, 2026. (BSE, 21 October 2026) · PDF
- Unaudited Financial Result For The Quarter /Half Year Ended September 30, 2026 As Per Regulation 33 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015. (BSE, 30 October 2026) · PDF
- Board Meeting Outcome for Board Meeting Outcome For Unaudited Financial Result For The Quarter Ended September 30, 2026 As Per Regulation 33 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (BSE, 30 October 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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