Dynamatic Q2 PAT Surges 120% YoY to ₹225M

Date: November 6, 2026

Financial Results (Standalone & Consolidated)

Q2FY2027 Performance (Consolidated)

Revenue: ₹4,527.3 million, up 15.4% from ₹3,923.8 million in Q2FY2026
EBITDA: ₹556.3 million, up 20.3% from ₹462.4 million in Q2FY2026
EBITDA Margin: 12.3% (up 51 bps from 11.8% in Q2FY2026)
EBIT: ₹358.8 million, up 32.3% from ₹271.1 million in Q2FY2026
EBIT Margin: 7.9% (up 102 bps from 6.9% in Q2FY2026)
Normalized PBT: ₹251.4 million, up 35.7% from ₹185.2 million in Q2FY2026
Normalized PAT: ₹224.6 million, up 120.4% from ₹101.9 million in Q2FY2026
Normalized PAT Margin: 5.0% (up from 2.6% in Q2FY2026)
Normalized EPS: ₹33.08
Note: PAT excludes exceptional item of ₹68.8 million in Q2FY2026

H1FY2027 Performance (Consolidated)

Revenue: ₹8,775.4 million, up 15.0% from ₹7,633.1 million in H1FY2026
EBITDA: ₹1,107.4 million, up 31.8% from ₹840.2 million in H1FY2026
EBITDA Margin: 12.6% (up 161 bps from 11.0% in H1FY2026)
EBIT: ₹713.1 million, up 53.7% from ₹464.0 million in H1FY2026
EBIT Margin: 8.1% (up 205 bps from 6.1% in H1FY2026)
Normalized PBT: ₹515.3 million, up 52.2% from ₹338.5 million in H1FY2026
Normalized PAT: ₹432.5 million, up 106.3% from ₹209.6 million in H1FY2026
Normalized PAT Margin: 4.9% (up from 2.7% in H1FY2026)
Normalized EPS: ₹63.70
Note: PAT excludes exceptional item of ₹68.8 million in H1FY2026

Segment Performance Q2FY2027 vs Q2FY2026

Aerospace Segment

Revenue: ₹2,107.7 million, up 18.1% from ₹1,785.2 million
EBITDA: ₹455.7 million, down 4.9% from ₹479.2 million
EBITDA Margin: 21.6% (down from 26.8%)
EBIT: ₹331.1 million, down 9.7% from ₹366.5 million
EBIT Margin: 15.7% (down from 20.5%)

Hydraulics Segment

Revenue: ₹1,404.0 million, up 11.2% from ₹1,262.9 million
EBITDA: ₹161.2 million, up 123.3% from ₹72.2 million
EBITDA Margin: 11.5% (up from 5.7%)
EBIT: ₹124.1 million, up 215.0% from ₹39.4 million
EBIT Margin: 8.8% (up from 3.1%)

Metallurgy Segment

Revenue: ₹1,013.6 million, up 15.8% from ₹875.3 million
EBITDA: ₹34.9 million (improved from loss of ₹15.3 million)
EBITDA Margin: 3.4% (improved from -1.7%)
EBIT: ₹3.8 million (improved from loss of ₹49.8 million)
EBIT Margin: 0.4% (improved from -5.7%)

Segment Performance H1FY2027 vs H1FY2026

Aerospace Segment

Revenue: ₹4,130.2 million, up 17.5% from ₹3,514.4 million
EBITDA: ₹937.6 million, up 6.6% from ₹879.2 million
EBITDA Margin: 22.7% (down from 25.0%)
EBIT: ₹691.0 million, up 5.0% from ₹657.8 million
EBIT Margin: 16.7% (down from 18.7%)

Hydraulics Segment

Revenue: ₹2,564.4 million, up 10.3% from ₹2,324.1 million
EBITDA: ₹305.8 million, up 182.9% from ₹108.1 million
EBITDA Margin: 11.9% (up from 4.7%)
EBIT: ₹230.8 million, up 436.7% from ₹43.0 million
EBIT Margin: 9.0% (up from 1.9%)

Metallurgy Segment

Revenue: ₹2,076.7 million, up 15.8% from ₹1,794.1 million
EBITDA: ₹74.7 million (improved from ₹1.8 million)
EBITDA Margin: 3.6% (improved from 0.1%)
EBIT: ₹10.4 million (improved from loss of ₹65.1 million)
EBIT Margin: 0.5% (improved from -3.6%)

Foreign Exchange Fluctuation

Exchange Rates

EURO vs. INR: 108.54 (Q2FY2027) vs 98.54 (Q2FY2026) vs 109.98 (Q1FY2027)
GBP vs. INR: 125.33 (Q2FY2027) vs 114.72 (Q2FY2026) vs 126.95 (Q1FY2027)
USD vs. INR: 93.49 (Q2FY2027) vs 86.32 (Q2FY2026) vs 94.63 (Q1FY2027)

Impact Analysis

Y-o-Y Impact (Q2FY2027 vs Q2FY2026)

Revenue Impact: ₹284.36 million total (Erla: ₹94.67 million, DL UK: ₹82.72 million, DTL: ₹106.98 million)
EBITDA Impact: ₹36.98 million total (Erla: ₹3.40 million, DL UK: ₹12.18 million, DTL: ₹21.40 million)

Q-o-Q Impact (Q2FY2027 vs Q1FY2027)

Revenue Impact: -₹42.87 million total (Erla: -₹13.61 million, DL UK: -₹12.61 million, DTL: -₹16.65 million)
EBITDA Impact: -₹5.68 million total (Erla: -₹0.49 million, DL UK: -₹1.86 million, DTL: -₹3.33 million)

Constant Currency Analysis

On constant currency basis, Q2FY2027 revenue would be ₹4,242.94 million (8.13% growth vs 15.4% reported)
On constant currency basis, Q2FY2027 EBITDA would be ₹519.32 million

Management Commentary

Mr. Udayant Malhoutra, CEO and Managing Director commented:

Aerospace Segment: Remained the leading contributor to revenue with 18.1% YoY growth despite sequential moderation. Growth supported by steady revenue from component manufacturing and Airbus programs. Airbus A220 doors program advanced, strengthening capabilities in complex aerostructure manufacturing. Focus on scaling high-value aerospace programs, deepening relationships with global OEMs, and expanding capabilities in defense and unmanned technologies.

Hydraulics Segment: Delivered improved performance with sustained demand from domestic OEMs, industrial customers, and aftermarket channels. Achieved highest-ever monthly sales of hydraulic pumps. Significant YoY improvement in operating profitability reflecting effective operational performance. Transfer of manufacturing from Swindon to Bangalore expected to be completed in near term. Streamlining operations and improving production efficiency remain key priorities.

Metallurgy Segment: Recorded healthy growth supported by modest recovery in demand at Erla facility in Germany. European automotive market remains challenging. Focus on operational efficiency, cost discipline, and diversification toward aerospace, defense, and specialized engineering applications.

Balance Sheet Highlights

Consolidated Balance Sheet - Assets (H1FY2027)

Property, plant and equipment: ₹6,425.6 million
Capital work in progress: ₹78.7 million
Goodwill: ₹1,069.3 million
Intangible assets: ₹231.8 million
Right of use assets: ₹730.4 million
Intangible assets under Development: ₹517.2 million
Inventories: ₹4,917.8 million
Trade receivables: ₹3,180.0 million
Cash and cash equivalents: ₹646.2 million
Total Assets: ₹19,914.2 million

Consolidated Balance Sheet - Liabilities (H1FY2027)

Total shareholders fund: ₹8,414.2 million
Equity share capital: ₹67.9 million
Other equity: ₹8,346.3 million
Borrowings: ₹2,755.0 million (non-current) + ₹3,153.2 million (current) = ₹5,908.2 million total
Lease liabilities: ₹781.8 million (non-current) + ₹238.3 million (current) = ₹1,020.1 million total
Trade payables: ₹2,878.1 million
Total Liabilities: ₹11,500.0 million

Debt Position (September 2026)

Long Term Debt: ₹3,567.4 million
Short Term Debt: ₹2,340.8 million
Total Debt: ₹5,908.2 million
Cash & Cash Equivalents: ₹783.6 million
Net Debt: ₹5,124.6 million
Lease Liabilities: ₹1,020.1 million
Overall Debt: ₹6,144.7 million
Net Worth: ₹8,414.2 million
LTM EBITDA: ₹2,094.0 million

Cash Flow Statement (H1FY2027)

Net cash generated from operating activities: ₹304.6 million
Net cash used in investing activities: ₹309.3 million
Net cash generated from financing activities: ₹117.9 million
Net increase in cash and cash equivalents: ₹113.2 million
Cash and cash equivalents at beginning: ₹525.2 million
Cash and cash equivalents at end: ₹646.2 million

Company Overview

Business Segments

Aerospace: 47% of H1FY2027 Revenue
Hydraulics: 29% of H1FY2027 Revenue
Metallurgy: 24% of H1FY2027 Revenue

Key Capabilities

8 Facilities worldwide (Bangalore, India; Swindon and Bristol, UK; Schwarzenberg, Germany)
Vertically integrated facilities including advanced ferrous foundry in Germany
In-house design validation, analysis and prototypes
R&D units recognized by Department of Scientific and Industrial Research, Government of India
Several patents for products and designs in India and internationally

Blue Chip Customers

Metallurgy: BMW, MAN, Daimler, AGCO, Audi, BorgWarner
Hydraulics: Cummins, Escorts, John Deere, Mahindra & Mahindra, Same Deutz-Fahr, CNH
Aerospace: Airbus, Bell Helicopter, Boeing, HAL, Dassault Aviation, Deutsche Aircraft

Shareholding Pattern (September 2026)

Promoters: 41.5%
FIIs: 9.6%
DIIs: 9.1%
Alternative Investment Fund: 7.8%
Bodies Corporate: 5.6%
Others: 26.4%

Contact Details

Mr. Chalapathi P - Executive Director and Chief Financial Officer

Mr. Shivaram V - Chief Legal Officer and Company Secretary

Tel: +91 80 2111 1223 / +91 80 2204 0535