Revenue rebounds, but depreciation and interest keep Visagar Polytex in loss
Revenue grew faster than expenses sequentially, yet below-operating-line charges left the standalone company with a Rs 0.07 cr loss.
Filed 13 Nov 2026, 19:17 IST · after market close · Visagar Polytex Ltd (VIVIDHA)
Key takeaways
- Standalone revenue rose +191.30% QoQ, while operating margin improved 97.29 percentage points to 5.05%.
- Despite operating profit of Rs 0.03 cr, Visagar Polytex reported a net loss of Rs 0.07 cr after Rs 0.03 cr of interest and Rs 0.07 cr of depreciation.
- The 5.05% operating margin was 6.13 percentage points below the median for 361 Consumer Discretionary peers.
Price around the results
Revenue recovered sharply from the Q1FY27 base
Standalone revenue increased +191.30% QoQ, while expenses rose +45.45%, allowing operating profit to move from a Rs 0.21 cr loss to a Rs 0.03 cr profit. The operating margin therefore improved by 97.29 percentage points, although it remained at only 5.05%. This is a sequential comparison; no year-on-year comparison is provided.
Depreciation and interest erased the operating profit
The operating profit was not enough to cover Rs 0.07 cr of depreciation and Rs 0.03 cr of interest, resulting in a Rs 0.07 cr loss before tax and net loss. Interest expense declined -25.00% QoQ and depreciation declined -50.00%, but both remained larger than operating profit. There was no tax charge because the company remained loss-making, rather than because a lower tax rate flattered profit.
Margin remained below the Consumer Discretionary peer median
Visagar Polytex's 5.05% operating margin was 6.13 percentage points below the 11.18% median among 361 Consumer Discretionary companies that had reported the quarter. The company ranked 83rd from the bottom on this comparison. The available trend shows a sharp improvement from the -92.24% operating margin in Q1FY27, but does not establish a longer multi-quarter direction.
Results were filed after market close
The standalone results were filed after market close on 13 November 2026 at 19:17 IST. No post-results market reaction is covered here.
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 | ₹1 cr | ₹0 cr | +191.30% |
| Other income | ₹0 cr | ₹0 cr | — |
| Expenses | ₹1 cr | ₹0 cr | +45.45% |
| Operating profit | ₹0 cr | ₹-0 cr | — |
| Operating margin (%) | 5.05% | -92.24% | — |
| Interest | ₹0 cr | ₹0 cr | -25.00% |
| Depreciation | ₹0 cr | ₹0 cr | -50.00% |
| Profit before tax | ₹-0 cr | ₹-0 cr | +82.05% |
| Tax | ₹0 cr | ₹0 cr | — |
| Net profit | ₹-0 cr | ₹-0 cr | +82.05% |
| EPS (₹) | ₹0.00 | ₹-0.01 | — |
Operating margin of 5.05% compares with a Consumer Discretionary sector median of 11.18% across 361 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 5.05% in the next reported quarter.
- Whether revenue remains above the Rs 0.67 cr reported in Q2FY27.
- Whether interest and depreciation fall below Rs 0.03 cr and Rs 0.07 cr, respectively, so operating profit can translate into net profit.