Board Meeting Details

The Board of Directors meeting was held on October 26, 2026, commencing at 2:00 p.m. (IST) and concluding at 4:05 p.m. (IST). The meeting approved the unaudited financial results (standalone and consolidated) for the quarter and half year ended September 30, 2026.

Financial Results - Standalone (Figures in Million ₹)

Quarterly Performance (Q2 FY27)

  • Revenue from operations: 13,770.38 (vs 10,569.85 in Q2 FY26)
  • Foreign exchange gain (net): 77.96
  • Other income: 287.03
  • Total income: 14,135.37
  • Profit before exceptional items and tax: 2,632.08
  • Exceptional items: 0 (vs 16.68 in Q2 FY26)
  • Profit before tax: 2,632.08
  • Total tax expense: 658.29
  • Profit for the period: 1,973.79 (vs 1,662.49 in Q2 FY26)
  • EPS (Basic): ₹3.17 (vs ₹2.67 in Q2 FY26)
  • EPS (Diluted): ₹3.16 (vs ₹2.67 in Q2 FY26)

Half-Yearly Performance (H1 FY27)

  • Revenue from operations: 25,342.76 (vs 18,242.99 in H1 FY26)
  • Total income: 26,608.61
  • Profit before exceptional items and tax: 5,388.28
  • Exceptional items: 0 (vs 108.42 in H1 FY26)
  • Profit before tax: 5,388.28
  • Total tax expense: 1,213.44
  • Profit for the period: 4,174.84 (vs 2,863.81 in H1 FY26)
  • EPS (Basic): ₹6.70 (vs ₹4.61 in H1 FY26)
  • EPS (Diluted): ₹6.70 (vs ₹4.61 in H1 FY26)

Balance Sheet Position (Standalone)

  • Total assets: 78,573.61 million (vs 69,764.41 million as of March 31, 2026)
  • Equity share capital: 6,241.28 million
  • Total reserves: 56,650.56 million
  • Total equity: 62,891.84 million

Cash Flow Statement (Standalone H1 FY27)

  • Net cash from operating activities: 5,481.81 million
  • Net cash used in investing activities: (7,077.76) million
  • Net cash from financing activities: 1,420.57 million
  • Net decrease in cash: (175.38) million

Joint Venture Announcement

On July 22, 2026, the company signed definitive agreements with DENSO Corporation Japan to form two Joint Ventures:

  • First JV: 51:49 equity ownership (DENSO:SONA) for high voltage liquid cooled EV traction motors and controllers for 4-wheelers and larger vehicles
  • Second JV: 51:49 equity ownership (SONA:DENSO) for air cooled EV traction motors and controllers for 2-wheelers and 3-wheelers

The company will slump sell its existing EV Motors and controllers business in its 100% subsidiary at fair market value. DENSO will buy 49% equity stake in this subsidiary at an Enterprise Value of ₹17,500 million.

Other Corporate Developments

  • Received dividend from wholly owned subsidiary: ₹594.63 million on June 19, 2026
  • Granted 100,000 Employee Stock Options on June 16, 2026 at fair market value of ₹596.35 per share
  • Allotted 170,747 equity shares to Managing Director and Group CEO on May 05, 2026 under Performance Share Plan
  • Completed acquisition of Railway Business of Escorts Kubota Limited on June 01, 2025 for ₹16,426.32 million

Business Segment

The company operates in a single reportable business segment: "Mobility components, systems and sub-systems"