Shivam Autotech recorded a 11.4 percent year-on-year increase in net loss to Rs 13.84 crore for Q2 FY27, compared to a net loss of Rs 12.42 crore in Q2 FY26.
However, sequentially, the company's net loss narrowed by 34 percent from Rs 20.99 crore reported in Q1 FY27. Financial performance for the quarter remained impacted by higher operational expenses, increased input costs, and elevated finance charges.
Revenue from operations for Q2 FY27 reached Rs 133.55 crore, representing a 18 percent increase year-on-year from Rs 113.23 crore in Q2 FY26 and a 21.9 percent sequential growth over Rs 109.58 crore in Q1 FY27.
Total expenses for the quarter rose 19 percent year-on-year to Rs 148.46 crore compared to Rs 124.77 crore in the corresponding period of the previous financial year, driven by a cost of materials consumed of Rs 45.44 crore, stores and spares consumption of Rs 14.80 crore, and finance costs of Rs 20.93 crore. Sequentially, total expenses increased 13.2 percent from Rs 131.20 crore in Q1 FY27.
Auditors drew attention to the company's financial position, noting a net loss of Rs 34.83 crore for H1 FY27, and a negative net worth of Rs 75.52 crore.
The auditors highlighted that the management has prepared the financial statements on a going concern basis, citing an EBITDA generation of Rs 22.48 crore during the half-year period, timely debt service obligations, ongoing strategic refinancing of borrowings, and expected proceeds from a proposed rights issue of up to Rs 119.92 crore, which received in-principle approval from BSE and NSE on September 29, 2026.
The auditors also noted management judgment regarding unrecognised deferred tax assets amounting to Rs 19.89 crore.