Date: October 15, 2026

Financial Results (Consolidated)

Profit and Loss Statement (₹ Mn)

Quarter Ended September 30, 2026 (Q2 FY27):

  • Revenue from Operations: ₹98,989 Mn (100.0% of revenue)
  • Cost of Goods Sold: ₹75,623 Mn (76.4% of revenue)
  • Contribution: ₹23,366 Mn (23.6% of revenue)
  • Employee Cost: ₹2,657 Mn (2.7% of revenue)
  • Other Operating Expenses: ₹6,484 Mn (6.5% of revenue)
  • Total Operating Expenses: ₹9,141 Mn (9.2% of revenue)
  • EBITDA: ₹14,225 Mn (14.4% of revenue)
  • Other Income: ₹884 Mn (0.9% of revenue)
  • Depreciation: ₹1,110 Mn (1.1% of revenue)
  • Finance Cost: ₹936 Mn (0.9% of revenue)
  • PBT: ₹13,062 Mn (13.2% of revenue)
  • Income Tax: ₹3,162 Mn (3.2% of revenue)
  • PAT: ₹9,900 Mn (10.0% of revenue)

Comparatives:

  • Q2 FY26 Revenue: ₹64,772 Mn; PAT: ₹6,930 Mn (10.7% margin)
  • Q1 FY27 Revenue: ₹82,097 Mn; PAT: ₹7,967 Mn (9.7% margin)

Half Year Ended September 30, 2026 (H1 FY27):

  • Revenue from Operations: ₹181,086 Mn (100.0% of revenue)
  • PAT: ₹17,867 Mn (9.9% margin)
  • H1 FY26 PAT: ₹12,927 Mn (10.4% margin)

Balance Sheet (Consolidated, ₹ Mn as of September 30, 2026)

Assets:

  • Non-current Assets: ₹64,733 Mn
  • Fixed Assets: ₹53,801 Mn
  • Non-current Deposits: ₹452 Mn
  • Other Non-current Assets: ₹10,481 Mn
  • Current Assets: ₹173,218 Mn
  • Inventories: ₹69,634 Mn
  • Trade Receivables: ₹34,593 Mn
  • Investments: ₹40,131 Mn
  • Cash and Bank Balances: ₹5,733 Mn
  • Other Current Assets: ₹23,128 Mn
  • Total Assets: ₹237,951 Mn

Liabilities and Equity:

  • Shareholder's Funds: ₹130,941 Mn
  • Share Capital: ₹1,507 Mn
  • Reserves and Surplus: ₹129,434 Mn
  • Minority Interest: ₹1,431 Mn
  • Non-current Liabilities: ₹5,171 Mn
  • Borrowings: ₹260 Mn
  • Other Non-current Liabilities: ₹4,911 Mn
  • Current Liabilities: ₹100,408 Mn
  • Short-term Borrowings: ₹856 Mn
  • Acceptances: ₹65,560 Mn
  • Trade Payables: ₹19,667 Mn
  • Other Current Liabilities: ₹14,325 Mn
  • Total Liabilities and Equity: ₹237,951 Mn

Cash Flow Statement (Consolidated, ₹ Mn)

Q2 FY27:

  • Net Cash from Operating Activities: ₹8,522 Mn
  • Net Cash used in Investing Activities: ₹-6,688 Mn
  • Net Cash used in Financing Activities: ₹-801 Mn
  • Net Increase in Cash and Cash Equivalents: ₹1,033 Mn

H1 FY27:

  • Net Cash from Operating Activities: ₹16,708 Mn
  • Net Cash used in Investing Activities: ₹-9,509 Mn
  • Net Cash used in Financing Activities: ₹-8,964 Mn
  • Net Decrease in Cash and Cash Equivalents: ₹-1,765 Mn

Segment Performance

Wires & Cables Business

  • Delivered 47% YoY growth in Q2 FY27
  • Margins improved ~90 bps QoQ to 14.2%
  • Both cables and wires grew strongly, with wires leading growth momentum
  • Sales across channel and institutional markets remained healthy
  • International business grew 17% YoY, contributing 5.0% to consolidated revenue

FMEG Business

  • Achieved all-time high quarterly revenue of ₹9,931 Mn in Q2 FY27 (more than doubled YoY)
  • EBIT margins reached record 10.1%
  • Growth remained broad-based across all product categories
  • Solar products continued to outperform with multifold growth, remaining largest growth driver
  • All other categories recorded very strong growth

EPC Segment

  • Revenue increased 53% YoY for Q2 FY27 and 23% YoY for H1 FY27
  • EBITDA declined 39% YoY but improved 31% QoQ (YoY decline led by one-off gain in Q2 FY26)
  • Company maintains healthy order book supporting upcoming execution
  • Annual sustainable operating margin expected in high single digit over mid-to-long term

Other Key Data Points

Q2 FY27 Metrics:

  • Advertisement and Sales Promotion Expense: ₹405 Mn
  • Capex Spends: ₹2,924 Mn
  • Net Cash Position*: ₹45,199 Mn
  • Goods in Transit*: ₹6,579 Mn
  • Exports Revenue: ₹4,931 Mn (5.0% contribution)

Working Capital Days (Q2 FY27, Average):

  • Receivable Days: 33
  • Inventory Days: 86
  • Payable Days*: 108
  • Net Working Capital: 11

Other Income Breakdown (Q2 FY27, ₹ Mn):

  • Interest Income: ₹100
  • Gain on Redemption of Investments: ₹666
  • Miscellaneous Income: ₹118
  • Total: ₹884

Finance Cost Breakdown (Q2 FY27, ₹ Mn):

  • Interest on Bank Borrowings: ₹19
  • Interest on LC and VBD Leases: ₹783
  • Other Borrowing Costs: ₹134
  • Total: ₹936

Shareholding Pattern

As of September 30, 2026 (includes Domestic Institutional Investors under "Mutual Funds" and Foreign Institutional Investors under "Foreign Portfolio - Corp" and "Foreign Corporate Bodies")