Sugs Lloyd Limited announced its financial results for the half year ended 30 September 2026 through a press release disclosed under Regulation 30 of SEBI Listing Regulations.

Financial Performance Highlights (H1 FY27 vs H1 FY26)

  • Revenue from Operations: ₹213.31 crore (up 73% from ₹123.03 crore)
  • EBITDA: ₹31.00 crore (up 64% from ₹18.88 crore)
  • EBITDA Margin: 14.54% (down 81 bps from 15.34%)
  • Profit After Tax: ₹20.01 crore (up 69% from ₹11.82 crore)
  • PAT Margin: 9.38% (down 23 bps from 9.61%)
  • EPS – Basic and Diluted: ₹8.62 (up 26% from ₹6.86)

Quarterly Performance (Q2 FY27)

  • Revenue from Operations: ₹134.91 crore (up 112% YoY from ₹63.62 crore; up 72% QoQ from ₹78.40 crore)
  • EBITDA: ₹19.01 crore (up 91% YoY from ₹9.97 crore; up 59% QoQ from ₹11.99 crore)
  • EBITDA Margin: 14.09% (down 159 bps YoY; down 121 bps QoQ)
  • Profit After Tax: ₹12.51 crore (up 107% YoY from ₹6.03 crore; up 67% QoQ from ₹7.50 crore)
  • PAT Margin: 9.27% (down 21 bps YoY; down 30 bps QoQ)

Balance Sheet Position (as of 30 September 2026 vs 31 March 2026)

  • Net Worth: ₹157.22 crore (from ₹137.21 crore)
  • Total Borrowings: ₹163.07 crore (from ₹68.94 crore)
  • Debt to Equity: 1.04x (from 0.50x)
  • Trade Receivables: ₹150 crore (from ₹139 crore)
  • Inventories: ₹12 crore (from ₹11 crore)
  • Trade Payables: ₹75 crore (from ₹61 crore)
  • Capital Work-in-Progress: ₹37.05 crore (from ₹0 crore)
  • Cash Flow from Operations (H1 FY27): ₹(12.31) crore (compared to ₹(37.39) crore for full year FY26)

Operational Highlights

  • Order Book: ₹1,068 crore as on 30 September 2026 (₹929 crore in Power T&D, ₹139 crore in Solar)
  • Order Inflow (Q2 FY27): Seven orders worth ₹466.43 crore including GST (₹395.28 crore excluding GST)
  • Revenue Mix: Power T&D and Smart Grid contributed 80% of H1 revenue; Solar EPC contributed 20%
  • Acquisition: On 21 August 2026, the company acquired full shareholding of Sugs Renewables Private Limited, making it a wholly owned subsidiary
  • Geographic Presence: Operations span 11 states (Delhi, Bihar, Odisha, Madhya Pradesh, Gujarat, Punjab, Himachal Pradesh, Maharashtra, Uttar Pradesh, Meghalaya, Chhattisgarh)
  • Qualified Bid Pipeline: ₹2,500 crore under evaluation (₹1,207 crore as of 30 September 2026)
  • Award: Recognized as Best Integrated T&D and Solar EPC Company of the Year at EPS Energy Awards 2026

Outlook and Guidance

  • Management cited strong policy-led demand from Revamped Distribution Sector Scheme (₹3.04 lakh crore commitment) and Union Budget 2026-27 allocations (₹18,000 crore to RDSS, ₹22,000 crore to PM Surya Ghar)
  • Targeting India's 500 GW non-fossil capacity goal by 2030
  • Exploring opportunities in transmission, SCADA, and Battery Energy Storage Systems (BESS)
  • Revenue Guidance: ₹1,000 crore for FY27-28
  • Bid Strike Rate Guidance: 15-20% on qualified bids

Management Commentary

Mr. Santosh Shah, Managing Director and Promoter, attributed strong performance to execution of the RDSS smart-grid project and noted that Q2 revenue included June billing that slipped from Q1. He emphasized focus on execution discipline, collections, and converting qualified pipeline, with business weighted toward the March quarter.

Additional Information

  • The company was listed on BSE SME in September 2025
  • H1 FY27 revenue represents 71% of full-year FY26 revenue of ₹300.73 crore
  • Finance costs increased 51% to ₹5.89 crore due to higher working-capital borrowings
  • Capital work-in-progress of ₹37.05 crore relates to NBPDCL rooftop solar project under CAPEX-plus-RESCO model
  • Product development includes compact FPIs (expected supplies in Q3 FY27), VCBs, and Ring Main Units (RMUs)