Board Meeting Details

The Board of Directors meeting was held on November 12, 2026, commencing at 11:00 AM IST and concluding at 1:08 PM IST. The board approved the unaudited financial results for the quarter and half year ended September 30, 2026.

Financial Results Overview (Standalone)

Quarterly Performance (Q2 FY27 vs Q2 FY26)

  • Revenue from operations: ₹23,848 lakhs (vs ₹18,286 lakhs in Q2 FY25) - 30.4% increase
  • Other income: ₹683 lakhs (vs ₹418 lakhs in Q2 FY25)
  • Total income: ₹24,531 lakhs (vs ₹18,704 lakhs in Q2 FY25)
  • Profit before tax: ₹3,521 lakhs (vs ₹3,332 lakhs in Q2 FY25) - 5.7% increase
  • Total tax expense: ₹908 lakhs (vs ₹854 lakhs in Q2 FY25)
  • Profit after tax: ₹2,613 lakhs (vs ₹2,478 lakhs in Q2 FY25) - 5.4% increase
  • Earnings per share (EPS): ₹24.60 (vs ₹23.33 in Q2 FY25)

Half-Yearly Performance (H1 FY27 vs H1 FY26)

  • Revenue from operations: ₹46,637 lakhs (vs ₹34,679 lakhs in H1 FY25)
  • Other income: ₹1,163 lakhs (vs ₹682 lakhs in H1 FY25)
  • Total income: ₹47,800 lakhs (vs ₹35,361 lakhs in H1 FY25)
  • Profit before tax: ₹6,956 lakhs (vs ₹5,833 lakhs in H1 FY25)
  • Total tax expense: ₹1,773 lakhs (vs ₹1,438 lakhs in H1 FY25)
  • Profit after tax: ₹5,183 lakhs (vs ₹4,395 lakhs in H1 FY25)
  • Earnings per share (EPS): ₹48.80 (vs ₹41.38 in H1 FY25)

Expense Breakdown (Q2 FY27)

  • Cost of materials consumed: ₹17,290 lakhs
  • Changes in inventories: ₹170 lakhs
  • Employee benefits expense: ₹1,032 lakhs
  • Finance costs: ₹46 lakhs
  • Depreciation and amortization: ₹182 lakhs
  • Other expenses: ₹2,290 lakhs
  • Total expenses: ₹21,010 lakhs

Tax Details (Q2 FY27)

  • Current tax: ₹939 lakhs
  • Current tax pertaining to earlier years: (₹31) lakhs
  • Deferred tax: ₹95 lakhs

Balance Sheet Position (as of September 30, 2026)

Assets

  • Total assets: ₹66,931 lakhs
  • Non-current assets: ₹12,995 lakhs
  • Property, plant and equipment: ₹7,858 lakhs
  • Capital work-in-progress: ₹3,070 lakhs
  • Intangible assets: ₹128 lakhs
  • Intangible assets under development: ₹7 lakhs
  • Financial assets: ₹723 lakhs
  • Deferred tax assets: ₹234 lakhs
  • Other non-current assets: ₹975 lakhs
  • Current assets: ₹53,936 lakhs
  • Inventories: ₹20,035 lakhs
  • Trade receivables: ₹18,674 lakhs
  • Cash and cash equivalents: ₹7,526 lakhs
  • Bank balances other than above: ₹6,221 lakhs
  • Other financial assets: ₹138 lakhs
  • Other current assets: ₹1,342 lakhs

Equity and Liabilities

  • Total equity: ₹41,456 lakhs
  • Equity share capital: ₹1,062 lakhs (par value ₹10 per share)
  • Other equity: ₹40,394 lakhs
  • Non-current liabilities: ₹785 lakhs
  • Borrowings: ₹81 lakhs
  • Provisions: ₹704 lakhs
  • Current liabilities: ₹24,690 lakhs
  • Borrowings: ₹2,741 lakhs
  • Trade payables: ₹7,398 lakhs
  • Micro enterprises and small enterprises: ₹1,040 lakhs
  • Other creditors: ₹6,358 lakhs
  • Other financial liabilities: ₹3,816 lakhs
  • Other current liabilities: ₹8,865 lakhs
  • Provisions: ₹1,594 lakhs
  • Current tax liabilities: ₹276 lakhs

Cash Flow Statement (H1 FY27)

  • Cash generated from operating activities: ₹3,741 lakhs
  • Net cash from operating activities: ₹2,122 lakhs
  • Net cash used in investing activities: ₹2,014 lakhs
  • Net cash from financing activities: ₹2,217 lakhs
  • Net increase in cash and cash equivalents: ₹2,325 lakhs
  • Cash and cash equivalents at period end: ₹8,588 lakhs

Key Notes and Disclosures

1. The results were reviewed by the Audit Committee and approved by the Board of Directors on November 12, 2026.

2. Statutory auditors ASA & Associates LLP conducted a limited review and issued an unqualified report.

3. Results prepared in accordance with Ind AS 34 and SEBI LODR Regulations.

4. The company operates in a single business segment - manufacture and sale of transformers.

5. The company does not have any subsidiary, associate, or joint venture entities.

6. Previous year figures have been re-grouped/re-classified where necessary.