Sizemasters Q2FY27: group PAT craters 93% YoY to ₹10 lakh on subsidiary losses

Sizemasters Technology's consolidated (primary) print for the quarter ended September 30, 2026 (Q2 FY27) shows revenue of ₹12.75 Cr, almost flat (+0.3%) against ₹12.72 Cr a year ago, but PAT collapsed 93% YoY to just ₹0.10 Cr (₹10.25 lakh) from ₹1.47 Cr, and fell 85% sequentially from ₹0.76 Cr in Q1 FY27. Consolidated NPM compressed to roughly 0.8%, from 11.4% YoY and 8.5% QoQ — a sharp margin squeeze despite a broadly steady topline.

The squeeze sits below the operating line rather than on revenue: consolidated PBT of ₹0.43 Cr was hit by a group tax charge of ₹0.33 Cr (an unusually high ~76% effective rate), and non-controlling interests absorbed a loss of ₹(0.39) Cr this quarter — meaning profit attributable to Sizemasters' own shareholders was actually ₹0.49 Cr, well above the ₹0.10 Cr headline group figure, while one or more subsidiaries dragged the consolidated number down. Standalone (parent-only) numbers diverge materially: standalone revenue fell 19.5% YoY to ₹8.62 Cr and standalone PAT fell 20.9% YoY to ₹0.98 Cr — a cleaner, if weaker, organic decline with none of the subsidiary-driven volatility seen at the group level. No exceptional items are flagged in either statement this quarter, so this is a consolidation/tax-mix effect, not a one-off.

The stock went into the print at ₹364.95, down 2.6% over the past month of trading.

For context: revenue is at a 6-quarter high.

There is no prior management guidance or concall commentary on record for this company, and no brokerage coverage or consensus estimates could be found given its micro-cap size (₹10 Cr equity base, 1 Cr shares outstanding) — so both vsGuidance and vsStreet are genuinely unknown rather than beat/miss. No accompanying press release was filed, so there is no management framing to reconcile against the numbers.