Atlas Cycles margin improves, but remains at -87.36%
Revenue rose 8.44% QoQ while expenses grew 3.31%, narrowing the operating loss without bringing the company to break-even.
Filed 28 Oct 2026, 13:18 IST · Atlas Cycles (Haryana) Ltd (ATLASCYCLE)
Key takeaways
- Standalone revenue grew 8.44% QoQ while expenses rose 3.31%, narrowing the operating loss but leaving the margin at -87.36%.
- The standalone net loss narrowed 3.65% QoQ to Rs 1.85 cr, with no tax charge against the loss.
- Atlas Cycles had the second-lowest operating margin among 74 Consumer Discretionary peers at -87.36%, versus the sector median of 12.42%.
Price around the results
Revenue growth narrowed the operating loss
Standalone revenue rose 8.44% QoQ to Rs 1.67 cr, while the operating loss narrowed to Rs 1.46 cr from Rs 1.48 cr. The 3.65% QoQ reduction in net loss to Rs 1.85 cr also lifted loss per share by 3.73% to Rs -2.84.
Lower cost growth helped, but fixed costs remained heavy
Expenses grew 3.31%, slower than revenue, improving operating margin by 9.04 percentage points to -87.36%. Depreciation was unchanged at Rs 0.44 cr and interest was nil, so the operating loss remained the main drag on pre-tax profit. Other income of Rs 0.05 cr represented -2.7% of pre-tax profit, while the tax rate was 0%.
Margin was second-lowest among 74 reported peers
Atlas Cycles' -87.36% operating margin was 99.78 percentage points below the Consumer Discretionary peer median of 12.42%, ranking it second from the bottom among 74 companies that had reported. Sequentially, the margin improved from -96.40% in Q1FY27, but it remained deeply negative.
Q2FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹2 cr | ₹2 cr | +8.44% |
| Other income | ₹0 cr | ₹0 cr | — |
| Expenses | ₹3 cr | ₹3 cr | +3.31% |
| Operating profit | ₹-1 cr | ₹-1 cr | +1.35% |
| Operating margin (%) | -87.36% | -96.40% | — |
| Interest | ₹0 cr | ₹0 cr | — |
| Depreciation | ₹0 cr | ₹0 cr | +0.00% |
| Profit before tax | ₹-2 cr | ₹-2 cr | +3.65% |
| Tax | ₹0 cr | ₹0 cr | — |
| Net profit | ₹-2 cr | ₹-2 cr | +3.65% |
| EPS (₹) | ₹-2.84 | ₹-2.95 | +3.73% |
Operating margin of -87.36% compares with a Consumer Discretionary sector median of 12.42% across 74 peers that have reported Q2FY27.
What to watch
- Whether operating margin moves above -87.36% in the next quarter.
- Whether revenue growth continues to exceed the 3.31% expense growth recorded this quarter.
- Whether the operating loss narrows from Rs 1.46 cr.