Birla Precision Q2 FY27: consolidated PAT collapses 97% YoY as Tooling turns loss-making
PAT -97.53% YoY · revenue +21.56% · margins compressing
₹77.51 Cr
+21.56% YoY
₹0.12 Cr
-97.53% YoY
0.15%
-7.1pp YoY
₹0.02
Birla Precision Technologies' consolidated PAT fell to just ₹0.12 Cr in Q2 FY27 from ₹4.66 Cr a year ago (-97.5% YoY) and ₹5.37 Cr last quarter (-97.9% QoQ), even though consolidated revenue grew a healthy 21.6% YoY and 28.2% QoQ to ₹77.51 Cr. Standalone tells the same story at smaller scale — PAT of ₹0.34 Cr on PBT of ₹1.23 Cr and revenue of ₹74.56 Cr — though the standalone YoY decline (-93.2%) is a touch less severe than the consolidated one, pointing to subsidiary-level drag rather than a parent-only issue.
Q2 FY-2027 vs prior quarters
The driver is the Tooling segment, the larger of the company's two reporting segments, which swung to a consolidated pre-tax loss of ₹1.27 Cr this quarter from a profit of ₹6.13 Cr a year ago and ₹2.27 Cr last quarter. Automotive Components stayed profitable at ₹2.28 Cr but was down from ₹4.36 Cr sequentially. Strip out other income and the picture is starker: core pre-tax profit (PBT less other income) swung to roughly a ₹4.2 Cr loss this quarter from a ~₹5.8 Cr profit a year ago — a genuine operating deterioration, not merely the fading of a prior one-off, since other income was itself still elevated at ₹5.22 Cr (versus just ₹0.25 Cr in the year-ago quarter, and including what the cash-flow statement suggests are gains on asset sales). On top of that, the effective tax rate jumped to roughly 89% of PBT (tax of ₹0.89 Cr on PBT of ₹1.01 Cr) against ~22-23% in both comparison quarters, since the tax charge did not shrink in proportion to the collapse in pre-tax profit — compounding the bottom-line hit. Consolidated NPM (PAT/total income) fell to 0.14% from 7.28% YoY and 8.05% QoQ.
The stock went into the print at ₹52.05, down 11.3% over the past month of trading.
There is no formal brokerage coverage or consensus estimate for this quarter, and the company has no stated guidance on record, so neither a street-beat/miss nor a guidance-beat/miss verdict can be made; a post-Q1 note from Univest had flagged that Q1's PAT strength looked propped up by non-operating items and risked reversing in Q2, which is broadly what played out, albeit via a segment-level operating loss rather than a simple fade of one-offs. No management press release or concall commentary was available to cross-check against the numbers. Separately, the company disclosed GST search proceedings in August 2026 with a ₹5.55 Cr tax liability identified; that charge is not reflected as an exceptional item in this statement, so its P&L treatment remains a forward item to watch, alongside whether the Tooling segment can return to profit next quarter.
W1
Whether the Tooling segment returns to profit next quarter — it swung from +₹2.27 Cr (Q1 FY27) to -₹1.27 Cr (Q2 FY27) pre-tax
W2
Treatment of the ₹5.55 Cr GST tax liability identified in the search proceedings concluded Aug 26, 2026 — not yet booked as an exceptional item in this statement
W3
Sustainability of other income (₹5.22 Cr this quarter, including apparent gains on asset sales) — core operations are currently loss-making before it, so any pull-back would hit PAT further
Clean, fully legible tabular statement; totals tie exactly on both standalone and consolidated. No exceptional items in any period shown. Consolidated PAT decline (-97.5% YoY) is steeper than standalone (-93.2% YoY) — subsidiaries dragged the group number. The Aug 2026 GST search's ₹5.55 Cr identified tax liability does not appear as an exceptional item in this statement, i.e. not yet booked.