IL JIN acquired the balance 40% stake in Power-One and 1.5% stake in Ascent Circuits on 2nd November 2026 through issuance of CCPS under a share swap arrangement.
Consequently, both Power-One and Ascent Circuits became wholly owned subsidiaries of IL JIN.
New Subsidiary Formation
Incorporated Amber Digital Technologies Pvt Ltd., a wholly owned subsidiary of Amber Enterprises.
Amber Digital will undertake mobile phone manufacturing operations, including production for Oppo.
Production is expected to start from Q4FY27.
Consolidated Financial Performance Q2FY27
Revenue from Operations: ₹2,627 Cr (vs. ₹1,647 Cr in Q2FY26, +60% YoY)
Raw Material Consumption: ₹2,134 Cr (after PPA adjustment of ~₹13.5 Cr)
Gross Profit: ₹494 Cr (+46% YoY)
Gross Margins: 18.8% (vs. 20.5% in Q2FY26)
Operating EBITDA: ₹127 Cr (+30% YoY)
Operating EBITDA Margins: 4.8% (vs. 5.9% in Q2FY26)
Depreciation & Amortization: ₹113 Cr
ESOP expenses: ₹3 Cr
Other Income: ₹8 Cr
EBIT: ₹19 Cr (-49% YoY)
Finance Cost: ₹95 Cr
Profit before tax and share of profit/(loss) from JV and exceptional items: (₹77) Cr
Exceptional item: (₹10) Cr
Share of (loss) of JV: (₹1) Cr
PBT: (₹87) Cr
Tax: (₹21) Cr
PAT: (₹66) Cr
PAT Margins: (2.5%)
Adjusted PAT (before exceptional loss): (₹57) Cr
Consolidated Financial Performance H1FY27
Revenue from Operations: ₹6,515 Cr (vs. ₹5,096 Cr in H1FY26, +28% YoY)
Raw Material Consumption: ₹5,291 Cr (after PPA adjustment of ~₹28.8 Cr)
Gross Profit: ₹1,224 Cr (+39% YoY)
Gross Margins: 18.8% (vs. 17.3% in H1FY26)
Operating EBITDA: ₹464 Cr (+29% YoY)
Operating EBITDA Margins: 7.1% (vs. 7.1% in H1FY26)
Depreciation & Amortization: ₹221 Cr
ESOP expenses: ₹7 Cr
Other Income: ₹34 Cr
EBIT: ₹270 Cr (+3% YoY)
Finance Cost: ₹180 Cr
Profit before tax and share of profit/(loss) from JV and exceptional items: ₹90 Cr (-26% YoY)
Exceptional item: (₹132) Cr
Share of (loss) of JV: (₹2) Cr
PBT: (₹44) Cr
Tax: ₹20 Cr
PAT: (₹63) Cr
PAT Margins: (1.0%)
Adjusted PAT (before exceptional loss): ₹69 Cr
Division-wise Performance Q2FY27
Consumer Durables Division
Revenue growth of 41% over previous year same quarter
Margins impacted due to commodity inflation, foreign currency fluctuation, minimum wage revision and Sri City new plant cost under ramp-up phase
Added new customers in H1FY27 strengthening customer base in Light Commercial AC segment
Full year guidance: Revenue growth broadly in line with RAC industry growth; margins expected to be impacted by 50-100 bps
Electronics Division
Revenue growth of 94% over previous year same quarter
Operating EBITDA grew by 195% over previous year same quarter
Operating EBITDA after adjusting for PPA impact of ~₹13.5 Cr in Q2FY27
Railways Sub-systems & Defence Division
Revenue grew by 15% over previous year same quarter
Margins impacted due to fixed price contracts, commodity inflation, foreign currency fluctuation and minimum wage revision in Haryana
Outlook: FY27 revenue growth expected around 15-20%, impacted by project delays; margins expected to rebound to normalized levels in FY28
Expansion Projects
Ascent Circuits Facility Expansion - Hosur, T.N
Construction progressing well for new multi-layer PCB facility
Project received approval under ECMS for Multi-layer PCBs
Ascent-K Circuit Facility Expansion - Jewar, U.P
JV between ILJIN and Korea Circuit for HDI, Flex and Semiconductor Substrates PCBs
Groundbreaking ceremony held in June 2026 for HDI PCB manufacturing facility at YEIDA, near Jewar Airport (U.P)
Project received approval under ECMS for HDI PCB
PCB-Assembly Expansion - Pune
Construction progressing well for facility expansion in Pune
Railways & Defence Updates
Sidwal Greenfield Facility operational with production capacity under scale-up
Yujin JV facility ready; product development and design underway
Commercial production anticipated to commence in H2FY27 following RDSO approval
Consolidated Balance Sheet (as of Sep'26)
Total Assets: ₹14,602 Cr (vs. ₹13,767 Cr in Mar'26)
Non-Current Assets: ₹7,817 Cr
Current Assets: ₹6,785 Cr
Equity: ₹5,845 Cr
Non-Current Liabilities: ₹2,336 Cr
Current Liabilities: ₹6,422 Cr
Property, plant and equipment: ₹3,518 Cr
Capital work-in-progress: ₹667 Cr
Goodwill: ₹1,713 Cr
Other intangible assets: ₹853 Cr
Inventories: ₹2,621 Cr
Trade receivables: ₹1,926 Cr
Cash and cash equivalents: ₹171 Cr
Bank balances other than cash: ₹175 Cr
Borrowings (non-current): ₹1,126 Cr
Borrowings (current): ₹3,162 Cr
Trade payables: ₹2,045 Cr
Cash Flow Statement H1FY27
Operating profit before working capital changes: ₹434 Cr
Changes in working capital: (₹895) Cr
Cash generated from operations: (₹461) Cr
Direct taxes paid (net of refund): (₹72) Cr
Net Cash from Operating Activities: (₹533) Cr
Net Cash from Investing Activities: (₹1,316) Cr
Net Cash from Financing Activities: ₹1,790 Cr
Net Change in cash and cash equivalents: (₹59) Cr
Company Contacts
Konica Yaaddad, Company Secretary and Compliance officer (Membership No.: A30322)
Investor Relations Advisors: Mr. Sudhir Goyal, Mr. Rahul Agarwal, Mr. Karan Thakker
