Board Meeting Details

The Board of Directors meeting was held on October 30, 2026, commencing at 3:01 PM and concluding at 3:47 PM. The Board reviewed and approved the unaudited standalone financial results.

Financial Results Overview

Quarterly Performance (Q2 FY27 vs Q2 FY26)

  • Revenue from operations: Rs 20,269.8 million (vs Rs 15,384.6 million in Q2 FY26) - 31.7% increase
  • Other income: Rs 503.3 million (vs Rs 186.3 million in Q2 FY26)
  • Total income: Rs 20,773.1 million (vs Rs 15,570.9 million in Q2 FY26)
  • Total expenses: Rs 14,973.1 million (vs Rs 11,558.2 million in Q2 FY26)
  • Profit before tax: Rs 5,800.0 million (vs Rs 4,012.7 million in Q2 FY26) - 44.5% increase
  • Income tax expense: Rs 1,486.1 million (vs Rs 1,017.9 million in Q2 FY26)
  • Net profit: Rs 4,313.9 million (vs Rs 2,994.8 million in Q2 FY26) - 44.1% increase
  • Basic and diluted EPS: Rs 16.84 (vs Rs 11.70 in Q2 FY26)

Half-Yearly Performance (H1 FY27 vs H1 FY26)

  • Revenue from operations: Rs 38,631.2 million (vs Rs 28,685.9 million in H1 FY26) - 34.7% increase
  • Other income: Rs 921.7 million (vs Rs 349.3 million in H1 FY26)
  • Total income: Rs 39,552.9 million (vs Rs 29,035.2 million in H1 FY26)
  • Total expenses: Rs 28,881.6 million (vs Rs 21,122.4 million in H1 FY26)
  • Profit before tax: Rs 10,671.3 million (vs Rs 7,912.8 million in H1 FY26) - 34.9% increase
  • Income tax expense: Rs 2,727.5 million (vs Rs 2,006.0 million in H1 FY26)
  • Net profit: Rs 7,943.8 million (vs Rs 5,906.8 million in H1 FY26) - 34.5% increase
  • Basic and diluted EPS: Rs 31.02 (vs Rs 23.07 in H1 FY26)

Comparative Annual Performance (FY26 Audited)

  • Revenue from operations: Rs 62,063.1 million
  • Other income: Rs 908.4 million
  • Total income: Rs 62,971.5 million
  • Total expenses: Rs 45,838.6 million
  • Profit before exceptional items and tax: Rs 17,132.9 million
  • Exceptional item: Rs 635.7 million charge
  • Profit before tax: Rs 16,497.2 million
  • Income tax expense: Rs 4,164.7 million
  • Net profit: Rs 12,332.5 million
  • Basic and diluted EPS: Rs 48.16

Expense Breakdown (Q2 FY27)

  • Cost of raw material and components: Rs 11,797.7 million
  • Changes in inventories: (Rs 552.9) million credit
  • Employee benefits expense: Rs 1,379.8 million
  • Finance costs: Rs 78.3 million
  • Depreciation and amortization: Rs 122.4 million
  • Other expenses: Rs 2,147.8 million

Balance Sheet Position (as at September 30, 2026)

Assets

  • Total assets: Rs 86,887.5 million
  • Non-current assets: Rs 13,852.1 million
  • Property, plant and equipment: Rs 3,768.9 million
  • Right of use assets: Rs 150.3 million
  • Capital work-in-progress: Rs 1,154.5 million
  • Deferred tax assets (net): Rs 2,211.2 million
  • Non-current tax assets (net): Rs 1,910.4 million
  • Current assets: Rs 73,035.4 million
  • Inventories: Rs 13,602.4 million
  • Trade receivables: Rs 20,477.9 million
  • Cash and cash equivalents: Rs 23,855.7 million
  • Bank balances other than cash: Rs 283.3 million
  • Loans: Rs 8,497.9 million
  • Other financial assets: Rs 495.0 million
  • Other current assets: Rs 5,823.2 million

Equity and Liabilities

  • Total equity: Rs 32,947.1 million
  • Equity share capital: Rs 512.1 million (face value Rs. 2 per share)
  • Other equity: Rs 32,435.0 million
  • Non-current liabilities: Rs 1,634.9 million
  • Lease liabilities: Rs 44.8 million
  • Provisions: Rs 1,590.1 million
  • Current liabilities: Rs 52,305.5 million
  • Borrowings: Rs 106.4 million
  • Trade payables: Rs 17,897.2 million (including micro/small enterprises: Rs 1,251.8 million)
  • Lease liabilities: Rs 123.9 million
  • Other financial liabilities: Rs 3,148.9 million
  • Other current liabilities: Rs 26,059.6 million
  • Provisions: Rs 4,173.1 million
  • Current tax liabilities (net): Rs 796.4 million

Cash Flow Statement (H1 FY27)

  • Cash flows from operating activities: Rs 11,390.0 million
  • Cash flows from investing activities: Rs (312.5) million
  • Cash flows from financing activities: Rs (2,535.9) million
  • Net increase in cash and cash equivalents: Rs 8,541.6 million
  • Cash and cash equivalents at beginning: Rs 15,252.6 million
  • Impact of foreign exchange: Rs 61.5 million
  • Cash and cash equivalents at end: Rs 23,855.7 million

Key Notes to Financial Results

1. The Company operates in a single business segment relating to products, projects and systems for electricity transmission and related activities.

2. Financial results prepared in accordance with Indian Accounting Standards (Ind AS).

3. Financial results reviewed by Audit Committee and approved by Board of Directors on October 30, 2026.

4. No exceptional items during current quarter. For FY26, exceptional item of Rs 635.7 million related to estimated impact of new Labour codes notified by Government of India on November 21, 2025.

5. Company adopted hedge accounting as per Ind AS 109 effective April 1, 2023. Recognized gain of Rs 161.3 million in current quarter on fair value changes of derivatives.

6. No subsidiary/associate/joint venture companies as on September 30, 2026.

7. Previous period figures have been re-grouped/reclassified to conform to current period classification.

Auditor Review

Deloitte Haskins & Sells, Chartered Accountants (Firm Registration No. 015125N) issued limited review report confirming nothing has come to their attention suggesting the Statement contains material misstatement or does not comply with disclosure requirements of Regulation 33 of SEBI LODR Regulations.