Key Financial Figures (Consolidated, ₹ Crore)
Q2 FY27 Performance:
- Revenue from Operations: ₹346.7 crore, up 15.3% quarter-on-quarter (QoQ)
- EBITDA (including other income): ₹39.0 crore, with margin of 11.2% (up 370 bps QoQ)
- Profit Before Tax: ₹20.7 crore, up 8.1% year-on-year (YoY)
- Profit After Tax: ₹16.0 crore, up 14.8% YoY and 680.0% QoQ
- PAT Margin: 4.6%, improved by 60 bps YoY and 390 bps QoQ
Half Year FY27 Performance:
- Revenue: ₹647.4 crore, up 2.0% YoY
- EBITDA: ₹61.6 crore, down 23.0% YoY
- Profit Before Tax: ₹25.1 crore, down 40.4% YoY
- Profit After Tax: ₹18.1 crore, down 43.2% YoY
- PAT Margin: 2.8%, down 220 bps YoY
Segment Wise Performance (₹ Crore)
Revenue Segments Q2 FY27:
- Filtration, Drying and Other Equipment: ₹102.0 crore (down 25.6% YoY, up 5.4% QoQ)
- Glass Lined Products: ₹195.4 crore (up 24.2% YoY, up 1.2% QoQ)
- Heat Transfer Equipment: ₹48.8 crore (down 12.3% YoY, up 362.3% QoQ)
EBIT Segments Q2 FY27:
- Filtration, Drying and Other Equipment: ₹11.7 crore (down 38.8% YoY, up 0.8% QoQ)
- Glass Lined Products: ₹11.6 crore (up 181.7% YoY, up 86.7% QoQ)
- Heat Transfer Equipment: ₹6.8 crore (down 18.9% YoY, from loss of ₹4.1 crore in Q1)
Operational Highlights
- Record consolidated order book: ₹1,087.3 crore as of 30 September 2026, up 64.2% from ₹662.0 crore as of 30 June 2026
- Step-down subsidiary HLE Surface Technologies GmbH secured international order of approximately €20.56 million for vitreous enamel cladding panels for the Fehmarnbelt tunnel between Germany and Denmark
- Order flow from pharmaceutical industry improved across all product segments in India
- Company plans capital expenditure of ₹42-45 crores to manufacture heavy engineering and other allied products at Adas (near Anand), Gujarat
Management Commentary
Mr. Himanshu K. Patel, Managing Director, stated that Q2 FY27 was a milestone quarter with the order book crossing ₹1,000 crore for the first time. He noted improved customer enquiries in pharmaceuticals and specialty chemicals, with deferred projects being revived. The Fehmarnbelt tunnel order provides visibility through to 2030. Priorities for H2 FY27 include converting order book into timely deliveries, restoring margins through better product mix and cost discipline, and building product basket and customer relationships.
Corporate Structure Notes
All financial numbers include the financials of HLE Surface Technologies GmbH since 28th July, 2025 and OmeraStore GmbH since 13th August, 2025.