Key Financial Results (Consolidated)

Income Statement Highlights (Quarter ended September 30, 2026):

  • Revenue from operations: ₹6,551.6 crore (Q2 FY26) vs. ₹5,276.9 crore (Q2 FY25), a 24.1% increase.
  • Other income: ₹280.6 crore (Q2 FY26) vs. ₹360.2 crore (Q2 FY25).
  • Total Income: ₹6,832.2 crore (Q2 FY26) vs. ₹5,637.1 crore (Q2 FY25).
  • Profit from continuing operations before tax (before exceptional items): ₹426.7 crore (Q2 FY26) vs. ₹191.2 crore (Q2 FY25).
  • Exceptional Items: Nil in Q2 FY26 vs. a loss of ₹1,674.0 crore in Q2 FY25 (related to reversal of goodwill and DTL on a scheme of arrangement).
  • Profit for the period from continuing operations: ₹320.6 crore (Q2 FY26) vs. ₹138.9 crore (Q2 FY25).
  • Profit from discontinued operations: Nil in Q2 FY26 vs. ₹53,075.3 crore in H1 FY25 (gain on demerger of realty business).
  • Total Comprehensive Income for the period: ₹145.1 crore (Q2 FY26) vs. ₹5,985.8 crore (Q2 FY25).

Earnings Per Share (Continuing Operations, Face Value ₹10):

  • Basic EPS: ₹3.36 (Q2 FY26) vs. ₹1.71 (Q2 FY25).
  • Diluted EPS: ₹3.13 (Q2 FY26) vs. ₹1.71 (Q2 FY25).

Half-Year Performance (April 01, 2026 to September 30, 2026):

  • Revenue from operations: ₹12,607.7 crore (H1 FY26) vs. ₹10,519.8 crore (H1 FY25).
  • Profit for the period from continuing operations: ₹629.1 crore (H1 FY26) vs. ₹345.1 crore (H1 FY25).
  • Total Comprehensive Income for the period: ₹2,494.3 crore (H1 FY26) vs. ₹59,925.0 crore (H1 FY25).

Segment Performance (Consolidated)

Revenue for Q2 FY26 was primarily driven by:

  • Precision technology and auto component: ₹4,706.1 crore
  • Aerospace and defence: ₹1,393.6 crore
  • Others: ₹455.9 crore

Capital Structure and Upcoming Corporate Actions

  • Paid-up equity share capital remained unchanged at ₹66.55 crore (Face Value ₹10 per share).
  • Subsequent to the period end, shareholders approved a preferential issue of 3,328,686 convertible warrants to Minerva Ventures Fund at an issue price of ₹645 per warrant, aggregating to ₹214.7 crore. These are convertible into equity shares within 18 months, pending stock exchange approvals.
  • During the quarter, the company allotted 6,657,373 convertible warrants to promoter group entity JK Investors (Bombay) Limited on a preferential basis at ₹497 per warrant, receiving an upfront subscription of ₹82.72 crore (25% of issue price).

Significant Event: Demerger of Real Estate Business

Pursuant to a Scheme of Arrangement sanctioned by the NCLT (order dated March 27, 2025), the real estate business was demerged into Raymond Realty Limited with effect from May 01, 2025. The results of this business are classified as 'Discontinued Operations'. This resulted in a massive gain on demerger of ₹53,559.2 crore, recognized in the comparative period (H1 FY25).

Auditors' Review

The financial results were reviewed by Price Waterhouse Chartered Accountants LLP, who issued an unmodified conclusion, stating nothing came to their attention to believe the statements were not prepared in accordance with the required standards.