• Event Type: Earnings conference call for Q2 and half year ended September 30, 2026 (FY27).
  • Date and Time: The call was held on October 29, 2026. Specific time and time zone were not mentioned in the transcript.
  • Purpose: To discuss quarterly and half-year performance, highlight significant achievements, and share the company's vision for the future.
  • Management Participants: Mr. Ketan Patel (Chairman and Managing Director), Mr. Ajit Thakur (Chief Financial Officer), Mr. Vijay Advani (Whole Time Director), and SAAA Consultants (Investor Relations team).
  • Presentation Availability: No specific mention of a presentation deck, transcript, or recording being made available was found in the provided text.
  • UPSI Statement: The call included a standard forward-looking statement disclaimer, noting that statements are based on beliefs and assumptions and are subject to risks and uncertainties. There was no explicit statement that no Unpublished Price Sensitive Information (UPSI) would be shared.

Financial Highlights & Strategic Updates

Financial Period Discussed: Q2 FY27 (Quarter ended September 30, 2026) and H1 FY27 (Half Year ended September 30, 2026).

Q2 FY27 Consolidated Results (IndAS):

  • Revenue from Operations: INR 752.14 crores
  • Total Income: INR 754.8 crores (YoY growth of 14.43%)
  • EBITDA: INR 40.11 crores (YoY growth of 50.70%)
  • EBITDA Margin: 5.31% (vs. 4.04% in Q2 FY26)
  • Profit Before Tax (PBT): INR 30.12 crores
  • Profit After Tax (PAT): INR 25.94 crores (YoY growth of 36.88%)
  • PAT Margin: 3.44% (vs. 2.87% in Q2 FY26)

H1 FY27 Consolidated Results (IndAS):

  • Revenue from Operations: INR 1,228.21 crores
  • Total Income: INR 1,231.65 crores (YoY growth of 16.55%)
  • EBITDA: INR 65.01 crores (YoY growth of 55.78%)
  • EBITDA Margin: 5.28% (vs. 3.95% in H1 FY26)
  • Profit Before Tax (PBT): INR 46.82 crores
  • Profit After Tax (PAT): INR 39.47 crores (YoY growth of 35.49%)
  • PAT Margin: 3.20% (vs. 2.76% in H1 FY26)
  • Cash Flow from Operating Activities: INR 351.24 crores
  • Net Working Capital Days: 45 days (a significant improvement from 75 days in FY26)

Strategic and Operational Highlights:

  • BSNL BharatNet Project: Received an advance work order for the BharatNet Middle Mile Network Project in the Odisha Telecom Circle, with an approximate total value of INR 3,194.83 crores (INR 1,700 crores capex, INR 1,200+ crores opex). Revenue recognition is expected to begin in Q4 FY27 (~INR 150-200 crores), with ~INR 500 crores projected for FY28.
  • Infinova India Acquisition: The proposed acquisition of Infinova India Private Limited is expected to be completed by November 15, 2026, pending share transfer and regulatory approvals (SEMA). The acquisition aims to enhance capabilities in high-end surveillance for smart cities, border security, and airports. STQC certification is targeted for January-February 2027.
  • WOZOYO Brand Launch: Launched the global consumer technology brand WOZOYO under wholly-owned subsidiary Secure Connection Limited. Initial sales in the US market were ~$2.2 million (INR ~20 crores) in the first three months. Air purifiers were launched in India for Diwali. A full-year target of INR 45-50 crores is set for WOZOYO.
  • Other Partnerships: Partnerships with Ravel Electronics (fire and life safety), Drona Aviation (drone-based STEM education), and Jupiter Electric Mobility (drone technology) were highlighted.
  • Brand Business Growth: The share of brand business in total revenue increased to 19% in Q2 FY27 (from 14% in FY26). A long-term target of INR 2,400 crores in brand revenue by FY29 was reiterated, expected to contribute ~40% of total revenue with a PAT margin of 10-11%.

Forward-Looking Statements & Guidance:

  • Management expressed confidence in achieving ~20% revenue growth for FY27.
  • The strategy focuses on building brands (Honeywell, WOZOYO, CyberPowerPC, Infinova) and expanding into technology infrastructure projects.
  • Financial priorities include maintaining operational efficiency, prudent capital management, and disciplined execution.

Additional Notes Section

  • The document is a transcript of an earnings conference call. No attachments (e.g., invite, investor deck) were mentioned in the provided text.
  • The announcement contained extensive financial data for Q2 and H1 FY27, as well as strategic and operational updates.