Quality Power Electrical Equipments Limited announced its unaudited consolidated financial results for the quarter and half year ended September 30, 2026, following approval by the Board of Directors.

Financial Performance Highlights

Q2 FY2027 Consolidated Results (All figures in ₹ crore):

  • Total Revenue: ₹294 Cr, up 34.1% YoY (Q2 FY26: ₹219 Cr) and up 14.5% QoQ (Q1 FY27: ₹256 Cr)
  • Gross Profit: ₹134 Cr, up 52.6% YoY, with Gross Margin of 45.6% (40.1% in Q2 FY26)
  • Total EBITDA: ₹84 Cr, up 70.3% YoY, with EBITDA Margin of 28.6% (22.5% in Q2 FY26)
  • PBT: ₹77 Cr, up 74.1% YoY, with PBT Margin of 26.3% (20.3% in Q2 FY26)
  • PAT: ₹63 Cr, up 80.1% YoY, with PAT Margin of 21.6% (16.1% in Q2 FY26)

H1 FY2027 Consolidated Results (All figures in ₹ crore):

  • Total Revenue: ₹550 Cr, up 33.2% YoY (H1 FY26: ₹413 Cr)
  • Gross Profit: ₹255 Cr, up 48.3% YoY, with Gross Margin of 46.4% (41.7% in H1 FY26)
  • Total EBITDA: ₹149 Cr, up 52.2% YoY, with EBITDA Margin of 27.0% (23.7% in H1 FY26)
  • PBT: ₹137 Cr, up 54.2% YoY, with PBT Margin of 24.8% (21.5% in H1 FY26)
  • PAT: ₹110 Cr, up 52.4% YoY, with PAT Margin of 20.0% (17.5% in H1 FY26)

Business Highlights and Operational Updates

  • The company maintains a consolidated order book of approximately ₹2,010 Cr as on date
  • Order book breakdown as of September 30, 2026: Endoks (₹800 Cr), Mehru (₹610 Cr), Quality Power (₹602 Cr), Others (₹5 Cr)
  • Completed confirmatory due diligence on Winwin Speciality Insulators Limited with no adverse findings
  • Executed Share Purchase Agreement on September 23, 2026 for proposed acquisition of up to 100% stake in Winwin Speciality Insulators Limited
  • Winwin has completed type testing for porcelain insulators up to 400 kV and secured qualifications and orders for 800 kV HVDC, 765 kV and 400 kV applications
  • Global Coil Factory at Sangli commenced manufacturing operations on October 20, 2026, focusing on high voltage air core dry type reactors and specialized coil products for HVAC, HVDC, FACTS and renewable energy applications
  • Power Conversion Systems (PCS) manufacturing facility in Türkiye commenced operations on October 16, 2026, focusing on power electronic converters and inverters for utility scale Battery Energy Storage Systems (BESS) and grid connected applications

Order Pipeline and Market Developments

  • The order book is diversified across geographies and technology segments
  • Notable wins in HVDC, FACTS and high voltage equipment
  • Progress in both line commutated converter and voltage source converter technologies
  • New FACTS project wins across Americas, Europe, Middle East and Asia Pacific
  • Initial orders for high voltage interconnect equipment for hyperscale and AI data center campuses in the United States
  • Progress in grid scale battery energy storage opportunities in Europe

Outlook and Management Commentary

Mr. P. T. Pandyan, Chairman and Managing Director, commented on the results:

  • The Group delivered strong performance with consolidated revenue increase of 38.7% to ₹285.45 crore in Q2 (note: discrepancy with table figure of ₹294 Cr)
  • PAT grew by 80.1% to ₹63.33 crore in Q2
  • H1 FY27 revenue was ₹518.11 crore (note: discrepancy with table figure of ₹550 Cr), registering growth of 35.5%
  • H1 FY27 PAT increased by 52.4% to ₹110.05 crore
  • Significant orders include international FACTS equipment order through Endoks Enerji in Japan and multiple orders for 400 kV instrument transformers through Mehru from Hitachi Energy India
  • The outlook remains encouraging supported by investments in grid modernization, high-voltage transmission, renewable energy integration and energy storage
  • Rising electricity demand from data centers, industrial expansion and electrification creating additional requirements
  • Key priorities include timely execution, capacity ramp up, managing raw material availability and pricing (particularly electrical grade steel, copper and specialized insulation systems)
  • Focus on improving throughput, completing customer qualifications, and maintaining quality standards

Forward Looking Statements

The release contains forward-looking statements regarding the Company's future business prospects, order book, pipeline and operating environment. Actual results may differ materially due to macroeconomic conditions, geopolitical developments, raw material availability and pricing, customer capital expenditure cycles and project execution timelines.

Non-Ind AS Financial Measures

Adjusted EBITDA, adjusted profit after tax, adjusted margins and adjusted earnings per share are non-Ind AS financial measures presented to assist shareholders in assessing underlying operating performance. They exclude the net monetary loss recognized under Ind AS 29 in respect of the Company's Turkish operations.