Shree Rama Newsprint cuts operating loss, but net loss rises to Rs 10.82 cr
Revenue fell 17.08% QoQ, while expenses fell faster and lifted margin 4.23 percentage points; interest rose 2.39%.
Filed 05 Nov 2026, 11:31 IST · Shree Rama Newsprint Ltd (RAMANEWS)
Key takeaways
- The standalone net loss widened 3.05% QoQ to Rs 10.82 cr even as the operating loss narrowed.
- Revenue fell 17.08% QoQ, but expenses fell 20.44%, improving operating margin by 4.23 percentage points to -3.44%.
- Operating margin was 16.29 percentage points below the Commodities peer median, leaving the company fourth from bottom among 126 reporters.
Price around the results
Lower expenses softened the revenue decline
This standalone quarter saw revenue fall to Rs 8.06 cr from Rs 9.72 cr in Q1FY27, while expenses declined faster to Rs 8.33 cr from Rs 10.47 cr. That narrowed the operating loss to Rs 0.28 cr from Rs 0.75 cr and lifted operating margin to -3.44% from -7.67%.
Interest continued to absorb operating gains
Interest rose 2.39% QoQ to Rs 9.42 cr, limiting the benefit from the narrower operating loss; depreciation was Rs 1.05 cr. Other income of Rs 1.68 cr offset part of the loss, but represented -18.52% of PBT because PBT remained negative at Rs 9.07 cr. With the tax rate at 0.0%, the company still reported a net loss of Rs 10.82 cr.
Margin improved sequentially but stayed near the sector's bottom
Operating margin improved by 4.23 percentage points from the previous quarter, but remained 16.29 percentage points below the 12.85% median for 126 Commodities peers that reported the quarter. The company ranked fourth from the bottom on this measure.
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 | ₹8 cr | ₹10 cr | -17.08% |
| Other income | ₹2 cr | ₹2 cr | +0.60% |
| Expenses | ₹8 cr | ₹10 cr | -20.44% |
| Operating profit | ₹-0 cr | ₹-1 cr | +62.67% |
| Operating margin (%) | -3.44% | -7.67% | — |
| Interest | ₹9 cr | ₹9 cr | +2.39% |
| Depreciation | ₹1 cr | ₹1 cr | -5.41% |
| Profit before tax | ₹-9 cr | ₹-9 cr | +3.30% |
| Tax | ₹0 cr | ₹0 cr | — |
| Net profit | ₹-11 cr | ₹-11 cr | -3.05% |
| EPS (₹) | ₹-0.73 | ₹-0.72 | -1.39% |
Operating margin of -3.44% compares with a Commodities sector median of 12.85% across 126 peers that have reported Q2FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | -2.41% | -4.42% |
Volume on the results session was 2.86× its 20-day average.
What to watch
- Whether operating margin moves above -3.44% after the 4.23-point sequential improvement.
- Whether interest falls below Rs 9.42 cr after rising 2.39% QoQ.
- Whether revenue recovers from Rs 8.06 cr while expenses remain below the Q1FY27 level of Rs 10.47 cr.