Prima Industries posts September-quarter loss as costs rise

Prima Industries Limited reported a Rs 29.6 lakh loss for the quarter ended 30 September 2026, as revenue from operations rose 17% year on year to Rs 2.075 crore but total expenses climbed to Rs 2.381 crore, led by power and fuel cost of Rs 1.034 crore.

What did Prima Industries report for the September 2026 quarter?

Prima Industries reported a net loss of Rs 29.6 lakh for the quarter ended 30 September 2026, compared with a Rs 3.9 lakh loss in the quarter ended 30 September 2025. Loss before exceptional items and tax was also Rs 29.6 lakh, as the latest quarter recorded neither an exceptional item nor tax expense.

Revenue from operations increased to Rs 2.075 crore from Rs 1.776 crore a year earlier. Other income was Rs 1 lakh, against Rs 1 lakh in the prior-year quarter, taking total income to Rs 2.085 crore from Rs 1.777 crore.

Prima Industries reported basic and diluted earnings per share of negative Rs 0.27 after exceptional items and tax, compared with negative Rs 0.04 a year earlier. Paid-up equity share capital was unchanged at Rs 1.079 crore, with a face value of Rs 10 per share.

Why did Prima Industries' revenue growth not produce a profit?

Prima Industries' total expenses increased by Rs 56.5 lakh year on year, exceeding the Rs 30.8 lakh increase in total income. This movement widened the loss before exceptional items and tax from Rs 3.9 lakh in the September 2025 quarter to Rs 29.6 lakh in the September 2026 quarter.

Power and fuel cost rose to Rs 1.034 crore from Rs 57.9 lakh, an increase of Rs 45.5 lakh that accounted for most of the rise in expenses. Employee-benefit expense increased to Rs 36.8 lakh from Rs 33.3 lakh, while depreciation and amortisation rose to Rs 7 lakh from Rs 6.8 lakh.

Administration and other expenses declined to Rs 86.6 lakh from Rs 96.9 lakh, partly offsetting the higher power and fuel bill. Changes in inventories of finished goods, work in progress and stock in trade were negative Rs 8.5 lakh, compared with negative Rs 13.3 lakh a year earlier; the filing provides no product, customer or operating-segment revenue split.

The sequential comparison shows a reversal from profit to loss. Revenue declined from Rs 2.163 crore in the quarter ended 30 June 2026 to Rs 2.075 crore in the September quarter, while total expenses increased from Rs 2.15 crore to Rs 2.381 crore and power and fuel cost increased from Rs 75.3 lakh to Rs 1.034 crore.

How did Prima Industries perform in the first half of 2026-27?

Prima Industries reported a Rs 1.9 lakh loss for the half year ended 30 September 2026, compared with a Rs 16.1 lakh loss in the corresponding 2025 period. The half-year result included a Rs 30 lakh exceptional item, while the loss before exceptional items and tax widened to Rs 26.9 lakh from Rs 16.1 lakh.

Half-year revenue from operations rose to Rs 4.238 crore from Rs 3.86 crore, while total income reached Rs 4.262 crore from Rs 3.863 crore. Total expenses rose by Rs 50.7 lakh to Rs 4.531 crore, leaving a loss before exceptional items and tax despite the revenue increase.

Power and fuel cost increased by Rs 41.8 lakh across the six months to Rs 1.787 crore. Employee-benefit expense declined to Rs 69.6 lakh from Rs 80.8 lakh, whereas administration and other expenses increased to Rs 1.977 crore from Rs 1.886 crore and finance costs rose to Rs 2.2 lakh from Rs 60,000.

The September-quarter table showed nil exceptional items, while the six-month table recorded Rs 30 lakh. Prima Industries' results note states that there were no exceptional and extraordinary items in the reporting period, alongside the quarterly disclosure of nil exceptional items.

What does Prima Industries' cash-flow statement show?

Prima Industries reported net cash flow from operating activities of Rs 2.772 crore for the half year ended 30 September 2026, compared with Rs 27.4 lakh in the corresponding 2025 period. The statement attributes much of the difference to a Rs 1.866 crore increase in short-term borrowings and a Rs 71.1 lakh increase in trade payables.

Cash generated from operations was Rs 2.651 crore, versus Rs 29.3 lakh a year earlier, after a Rs 55.3 lakh decrease in other assets and a Rs 28 lakh decrease in trade receivables. Inventories increased by Rs 19.5 lakh during the latest half year, compared with an Rs 18.1 lakh increase in the prior-year period.

Investing activities used Rs 1.382 crore, including Rs 1.38 crore for purchase of non-current investments. Financing activities used Rs 1.361 crore, including a Rs 1.337 crore movement in long-term borrowings and Rs 10 lakh of income-tax advance paid.

Cash and cash equivalents increased by Rs 2.9 lakh to Rs 9.5 lakh at 30 September 2026 from Rs 6.6 lakh at the beginning of the year. The closing amount comprised Rs 3.1 lakh in bank current accounts and Rs 6.4 lakh of cash in hand, with no overdraft reported.

What management changes did Prima Industries disclose?

Prima Industries appointed Kushagra Gupta as managing director for five consecutive years from 12 November 2026, subject to shareholder approval and other required statutory approvals. The appointment followed the death of the previous chairman and managing director, S. K. Gupta, on 13 October 2026.

The board also appointed Ladhu Singh as chief financial officer from 12 November 2026, following Kushagra Gupta's resignation as chief financial officer. The financial results for the quarter and half year ended 30 September 2026 were reviewed by the Audit Committee on 11 November 2026 and approved by the board on 12 November 2026.

Conclusion

Prima Industries delivered higher September-quarter revenue, but the Rs 45.5 lakh year-on-year increase in power and fuel cost was the principal contributor to expenses rising faster than income. The result was a Rs 29.6 lakh quarterly loss, larger than the Rs 3.9 lakh loss a year earlier and following a Rs 27.7 lakh profit in the June 2026 quarter.

The next disclosed matter to watch is shareholder and other statutory approval for Kushagra Gupta's five-year managing-director appointment, effective from 12 November 2026. The company has also changed its chief financial officer from the same date, while the filing does not disclose an operating target or plan for addressing the September-quarter cost increase.