Key Financial Results - Q2FY27 (Consolidated)

  • Revenue from Operations: ₹2,541.79 crore, up 143.62% YoY from ₹1,043.34 crore in Q2FY26
  • EBITDA: ₹658.00 crore, up 223.55% YoY from ₹203.37 crore in Q2FY26
  • EBITDA Margin: 25.89%, improved by 640 basis points from 19.49% in Q2FY26
  • Profit Before Tax (PBT): ₹538.60 crore, up 406.49% YoY from ₹106.34 crore in Q2FY26
  • PBT Margin: 21.19%, improved by 1100 basis points from 10.19% in Q2FY26
  • Profit After Tax (PAT): ₹394.22 crore, up 448.14% YoY from ₹71.92 crore in Q2FY26
  • PAT Margin: 15.51%, improved by 862 basis points from 6.89% in Q2FY26
  • Diluted EPS: ₹2.36

Key Financial Results - H1FY27 (Consolidated)

  • Revenue from Operations: ₹4,456.77 crore, up 132.81% YoY from ₹1,914.36 crore in H1FY26
  • EBITDA: ₹1,103.27 crore, up 347.94% YoY from ₹246.30 crore in H1FY26
  • EBITDA Margin: 24.75%, improved by 1188 basis points from 12.87% in H1FY26
  • Profit Before Tax (PBT): ₹870.12 crore, up 1311.62% YoY from ₹61.64 crore in H1FY26
  • PBT Margin: 19.52%, improved by 1630 basis points from 3.22% in H1FY26
  • Profit After Tax (PAT): ₹639.86 crore, up 1401.31% YoY from ₹42.62 crore in H1FY26
  • PAT Margin: 14.36%, improved by 1213 basis points from 2.23% in H1FY26
  • Diluted EPS: ₹3.85

Balance Sheet Position - H1FY27 (Consolidated)

  • Total Shareholder Funds: ₹5,755.44 crore (vs ₹4,948.59 crore in FY26)
  • Non-Current Borrowings: ₹651.63 crore (vs ₹389.88 crore in FY26)
  • Current Borrowings: ₹1,188.50 crore (vs ₹1,323.49 crore in FY26)
  • Cash & Bank Balances: ₹594.76 crore (vs ₹468.42 crore in FY26)
  • Trade Receivables: ₹2,630.03 crore (current) + ₹259.55 crore (non-current) = ₹2,889.58 crore total
  • Inventories: ₹1,543.98 crore (vs ₹1,415.99 crore in FY26)
  • Total Assets: ₹10,174.92 crore (vs ₹8,867.58 crore in FY26)

Business Performance and Guidance

  • Confirmed Order Book: ₹28,911 crore providing strong visibility
  • FY27 Revenue Growth Guidance: Upgraded to ≥80% growth over FY26 revenue
  • Revenue Ambition: ₹10,000 crore target expected much earlier than originally envisaged FY29 horizon
  • Defence Revenue Aspiration: Approximately ₹500 crore for FY27
  • Export Contribution: 63% of revenues with target to reach 65%+ from FY27 onwards
  • Private Sector Contribution: 92% of revenues
  • Product Segment Contribution: ~91% of revenues

Strategic Initiatives and Capex

  • Optical Fiber Capacity Expansion: From 28 million fkm/annum to 43.1 million fkm/annum by July 2028
  • Optical Fiber Cable Capacity Expansion: From 39 million fkm/annum to 62 million fkm/annum by July 2028
  • Preform Manufacturing Capacity: Creating 600 MT/annum capacity by October 2028 with capex of ₹1,250 crore
  • Defence Facility: Investing ₹230 crore as Phase 1 for creating facility for Multi-Mode Hand Grenades (MMHG) in upcoming 1000 Acre Andhra Ammunition Complex
  • Total Planned Investment: Approximately ₹1,800 crore in optical fibre, cable and preform manufacturing

Business Segments and Diversification

  • Product Portfolio: 253 total products (127 Telecom & Networking products + Defence products)
  • Geographic Presence: Across 60+ countries supporting 80+ marquee customers
  • Defence Business: Unexecuted export order book of approximately ₹1,600 crore
  • R&D Capabilities: Strengthened R&D centers in Bengaluru, Hyderabad and Gurugram

Strategic Review

Company is evaluating various strategic options to sharpen business focus, improve capital allocation and enable each business vertical (with distinct operating, profitability and working capital profiles) to pursue growth opportunities more effectively.

Additional Information

  • Market Capitalization: ₹34,691.10 crore
  • Free Float: 71.69% (₹24,871.37 crore)
  • Shares Outstanding: 1,53,06,02,463
  • Climate Commitment: SBTi validated near-term climate targets for FY2030 including 25% reduction in absolute GHG emissions from operations and purchased energy, and 25% reduction in absolute GHG emissions across specified Scope 3 categories