Pavna Industries Limited posted a 48.5% year-on-year jump in consolidated revenue from operations for the quarter ended September 30, 2026, but fell into a loss. Revenue was ₹110.09 crore, against ₹74.15 crore in the same quarter last year. The company reported a consolidated net loss of ₹1.19 crore (after share of associates), against a profit of ₹1.68 crore a year earlier. Sequentially, revenue rose 19.8% from ₹91.88 crore in the June quarter, while profit swung from ₹87.76 lakh to the loss.
Consolidated profit before tax was a loss of ₹1.28 crore, against a profit of ₹2.87 crore a year ago and ₹1.55 crore in the June quarter. The tax line gave some relief, with a net tax credit of ₹24.28 lakh against a tax expense of ₹1.19 crore last year. Total comprehensive income was a loss of ₹1.19 crore, against a profit of ₹2.01 crore.
Costs grew much faster than sales. Total expenses rose 54.6% to ₹111.56 crore from ₹72.15 crore. Cost of materials consumed more than doubled, up 106.3% to ₹79.74 crore from ₹38.64 crore. Finance costs rose 126.1%, and other expenses climbed 35.4% to ₹17.02 crore. Other income collapsed 77.4% to ₹19.58 lakh from ₹86.74 lakh.
Some lines moved the other way. Purchase of stock-in-trade fell 13.7% to ₹8.79 crore. Employee benefits expense dropped 33.3% to ₹4.68 crore from ₹7.02 crore, and was also down from ₹6.95 crore in the June quarter. The company built up inventory worth ₹6.15 crore during the quarter, against ₹1.24 crore a year ago.
For the first half of FY27, consolidated revenue rose 50.1% to ₹201.96 crore from ₹134.56 crore. Profit was almost wiped out. Profit before tax and exceptional items fell 92.5% to ₹27.23 lakh from ₹3.63 crore. Last year's half-year included a ₹2.58 crore exceptional item, and on that basis profit before tax fell 74.2% from ₹1.06 crore. After tax and the share of associates' losses, the group posted a net loss of ₹30.91 lakh, against a loss of ₹3.75 lakh a year earlier. Total comprehensive loss was ₹35.08 lakh, against ₹4.65 lakh.
Half-year costs show the same pattern. Total expenses rose 53.2% to ₹202.15 crore, materials consumed rose 105.9% to ₹141.94 crore, and finance costs rose 125.1% to ₹5.63 crore. Other expenses rose 43.9% and depreciation rose 21.3%. Employee costs fell 20.4% to ₹11.63 crore, and other income fell 55.5% to ₹46.18 lakh. The loss attributable to the owners narrowed to ₹34.90 lakh from ₹82.94 lakh, because minority shareholders' share of profit fell sharply to ₹3.99 lakh from ₹79.19 lakh.
The parent company's standalone results showed the same trend. Standalone revenue for the quarter rose 44.6% to ₹103.75 crore from ₹71.72 crore, but the company reported a net loss of ₹1.38 crore against a profit of ₹2.07 crore. Standalone pre-tax loss was ₹2.17 crore, against a profit of ₹3.05 crore. Standalone materials cost rose 75.4% to ₹87.86 crore, and finance costs rose 138% to ₹2.95 crore. Standalone revenue grew 18.5% from the June quarter, when the company had earned ₹88.7 lakh in net profit.
For the half year, standalone revenue rose 47.3% to ₹191.29 crore from ₹129.83 crore. The company made a net loss of ₹49.19 lakh, against a profit of ₹88.26 lakh. Pre-tax loss was ₹78.39 lakh, against a profit of ₹1.75 crore a year earlier, which was struck after a ₹2.49 crore exceptional charge.