Belding reports Rs 5.55 cr loss as operating margin falls to -102.70%
Expenses exceeded revenue by a wide margin, while other income and a Rs 3.11 cr tax benefit only partly softened the loss.
Filed 04 Nov 2026, 03:31 IST · BELDING (BELDING)
Key takeaways
- Belding reported a consolidated net loss of Rs 5.55 cr in Q2FY27, with EPS at Rs -3.64.
- Expenses of Rs 13.40 cr exceeded revenue of Rs 6.61 cr, leaving operating margin at -102.70%.
- Management said Belding has commissioned an automated BESS assembly line and has 3 GWh of capacity expandable to 10 GWh.
Operating losses dominated the quarter
Belding's consolidated operating loss of Rs 6.79 cr shows that the quarter's loss was generated before other income and tax. Revenue was Rs 6.61 cr against expenses of Rs 13.40 cr, producing an operating margin of -102.70%. The resulting profit before tax was a loss of Rs 8.66 cr.
Other income and tax benefit softened the reported loss
Other income of Rs 2.07 cr partly offset the operating loss, but interest of Rs 1.19 cr and depreciation of Rs 2.75 cr kept the company in a pre-tax loss. The negative tax charge of Rs 3.11 cr reduced the reported net loss to Rs 5.55 cr. This means the tax line cushioned net profit even though the operating result remained deeply negative.
BESS build-out remains the stated business focus
The presentation said Belding has a 3 GWh BESS capacity that can be expanded to 10 GWh. Management also said the company commissioned an automated BESS assembly line as part of its infrastructure build-out. These disclosures describe the capacity and production infrastructure being established alongside the current operating loss.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 |
|---|---|
| Revenue | ₹7 cr |
| Other income | ₹2 cr |
| Expenses | ₹13 cr |
| Operating profit | ₹-7 cr |
| Operating margin (%) | -102.70% |
| Interest | ₹1 cr |
| Depreciation | ₹3 cr |
| Profit before tax | ₹-9 cr |
| Tax | ₹-3 cr |
| Net profit | ₹-6 cr |
| EPS (₹) | ₹-3.64 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Expansion
- Belding has a 3 GWh BESS capacity that can be expanded to 10 GWh.
- Belding commissioned an automated BESS assembly line as part of its infrastructure build-out.
What to watch
- Whether operating margin improves from -102.70% in the next quarter.
- Whether revenue rises from Rs 6.61 cr without expenses remaining at Rs 13.40 cr or higher.
- Progress on the 3 GWh BESS capacity and the automated assembly line disclosed in the presentation.