PAE's Quarterly Losses Narrow, But Revenue Remains Elusive
The auto ancillary firm reported a smaller loss year-on-year, but its revenue has been nil for two consecutive quarters.
PAE Limited reported a net loss of ₹0.09 crore for Q2 FY26, an improvement from last year. However, the company has recorded zero revenue for the second quarter in a row.
PAE Limited's second-quarter results for FY26 present a mixed picture, marked by a narrowing loss but a continued absence of sales. The auto ancillary company reported a net loss of ₹0.09 crore for the quarter ended September 2025, which is a 50% improvement compared to the ₹0.06 crore loss in the same period last year. However, the company's revenue for the quarter was zero, mirroring the previous quarter's performance.
This pattern of negligible revenue has persisted for most of the recent fiscal year, with a significant exception. The company's financial performance over the last five quarters reveals a stark contrast between a single profitable period and sustained operational challenges.
Revenue (₹ Cr)
Profit (₹ Cr)
| Metric | CurrentQ2 FY26 | PreviousQ1 FY26 | Same quarter LYQ2 FY25 |
|---|---|---|---|
| Period Ended | September 2025 | June 2025 | September 2024 |
| Revenue (₹ Cr) | 0.00 | 0.00 | 0.00 |
| Profit (₹ Cr) | -0.09YoY -50% | -0.22 | -0.06 |
The table highlights that the entirety of PAE's trailing twelve-month (TTM) revenue of ₹614.22 crore and profit of ₹13.32 crore stems from the single quarter ended March 2025. This isolated spike creates a TTM net profit margin of 2.2%, a figure that does not reflect the company's current quarterly reality.
Looking beyond the income statement, the company maintains a solid current ratio of 2.04, indicating sufficient short-term liquidity. Its stock trades at a significant discount to the industry, with a price-to-earnings (P/E) ratio of just 0.4 compared to the auto ancillary sector average of 44.6. The immediate challenge for PAE is to reignite a consistent revenue stream to build upon the gradual reduction in quarterly losses.
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· PAE
(BSE)
ISIN: INE766A01018
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