Date: 31st October, 2026

Financial Performance Summary

Quarterly Performance (Q2 FY27 vs Q2 FY26)

  • Revenue from Operations: ₹390.1 crore (vs ₹317.0 crore) - 23.1% YoY growth
  • EBITDA (excluding other income): ₹59.6 crore (vs ₹54.8 crore) - 8.8% YoY growth
  • EBITDA Margin: 15.3% (vs 17.3%) - 201 basis points contraction
  • PAT: ₹32.1 crore (vs ₹25.1 crore) - 28.0% YoY growth
  • PAT Margin: 8.2% (vs 7.9%) - 32 basis points expansion

Half-Yearly Performance (H1 FY27 vs H1 FY26)

  • Revenue from Operations: ₹856.4 crore (vs ₹632.1 crore) - 35.5% YoY growth
  • EBITDA (excluding other income): ₹136.7 crore (vs ₹103.6 crore) - 32.0% YoY growth
  • EBITDA Margin: 16.0% (vs 16.4%) - 42 basis points contraction
  • PAT: ₹79.0 crore (vs ₹56.2 crore) - 40.4% YoY growth
  • PAT Margin: 9.2% (vs 8.9%) - 32 basis points expansion

Performance Drivers and Challenges

Growth Drivers

  • Continued demand across transmission & distribution, renewable energy and industrial applications
  • Strong order execution despite temporary weather-related disruptions
  • Healthy business momentum reflected in H1 performance with 35.5% revenue growth

Margin Pressure Factors

  • Elevated commodity prices, particularly on certain firm-price contracts
  • Temporary production and dispatch disruptions due to unusually heavy rainfall
  • Weather-related disruptions resulted in deferred customer deliveries worth approximately ₹180 crore during Q2 FY27

Operational and Business Updates

Order Book and New Contracts

  • Order book stood at ₹3,196.97 crore as of 30th September 2026
  • Healthy enquiry pipeline of ₹19,464 crore
  • Secured ₹193.92 crore Letter of Intent from APTRANSCO for supply of 12 units of 160 MVA, 220/132 kV Auto Transformers
  • First order secured from United States, marking milestone in international expansion strategy

Capacity Expansion and Capability Development

  • Manufacturing of first 315 MVA, 400 kV-class transformer commenced in October 2026
  • Short-circuit testing targeted by end of Q3 FY27
  • Dedicated Inverter Duty Transformer facility adding approximately 5,000 MVA of capacity targeted for commissioning by Q3 FY27
  • Progress in tank and radiator backward integration initiative
  • Company manufactures power transformers from 5 MVA/11 kV up to 500 MVA/765 kV

Recovery from Disruptions

  • Approximately 70% of deferred ₹180 crore deliveries have been dispatched post-Q2
  • Remaining deliveries expected to be completed during Q3 FY27
  • Operations have normalized with customer dispatches resuming

Management Commentary

Mr. Niral Patel, Chairman and Managing Director, highlighted:

  • Resilient performance despite challenging operating environment
  • Temporary nature of margin pressure challenges from input costs and weather disruptions
  • Expectation of improved execution momentum in second half of financial year
  • Confidence in structural growth opportunities across India's power transmission and distribution sector
  • Investments in renewable energy integration, battery energy storage systems and grid infrastructure supporting growth
  • Immediate priorities include accelerating execution of deferred deliveries, improving operational efficiencies, advancing backward integration initiatives, and strengthening domestic and international market presence

Company Background

Atlanta Electricals Limited (formerly Atlanta Electricals Pvt. Ltd.) operates five facilities in Gujarat and Karnataka. With over 30 years of experience, as of 31st March 2026, the Company has supplied over 4,800 transformers totalling more than 1,16,000 MVA across India. The company manufactures power transformers, auto transformers, inverter duty transformers, furnace transformers, generator transformers and special duty transformers.