Date: 14th November 2026

Financial Performance Summary

Standalone Results for Q2 FY27

  • Total Income: ₹11,584.78 lakhs
  • Revenue from Operations: ₹9,846.41 lakhs
  • EBITDA: ₹3,222.02 lakhs (32.7% of revenue)
  • Profit Before Tax (PBT): ₹1,460.13 lakhs (14.8% of revenue)
  • Profit After Tax (PAT): ₹852.41 lakhs (8.7% of revenue)

Consolidated Results for Q2 FY27 (with YoY comparison)

| Particulars | Q2 FY27 | % of Revenue | Q2 FY26 | % of Revenue |

| Total Income | ₹14,370.72 lakhs | - | ₹14,737.30 lakhs | - |

| Revenue from Operations | ₹12,635.04 lakhs | - | ₹13,885.78 lakhs | - |

| EBITDA | ₹4,492.06 lakhs | 35.6% | ₹4,927.42 lakhs | 35.5% |

| Profit Before Tax (PBT) | ₹637.07 lakhs | 5.0% | ₹2,090.86 lakhs | 15.1% |

| Profit After Tax (PAT) | ₹196.19 lakhs | 1.6% | ₹1,583.52 lakhs | 11.4% |

Management Commentary and Strategic Updates

Order Book and Project Pipeline

  • Secured two large EPC orders of 200 MW each in Maharashtra and Rajasthan
  • Combined order value: approximately ₹1,400 crore
  • Land handover for both projects expected in current quarter (Q3 FY27)
  • Execution planned to be completed within 12 months of handover

Manufacturing and Capacity Utilization

  • Consolidated financial performance impacted by low utilization of module manufacturing lines in current FY
  • Built module order pipeline of 750 MW through EPC and IPP contracts
  • Expects utilization levels to improve from Q4 2027

IPP Project Development

  • Signed additional Power Purchase Agreements (PPAs) for 200 MW during current financial year
  • Nearly 217 MW of new IPP projects at various stages of construction

New Product Launches and BESS Projects

  • Launched SWEES brand of hybrid inverters with Battery Energy Storage Systems (BESS)
  • Completed 10 MWh behind-the-meter (BTM) BESS installation at manufacturing facility
  • Currently implementing 5 MWh BTM BESS project for commercial and industrial (C&I) customer

Company Background

  • Established in 1984, formerly known as NUMERIC Power Systems Ltd.
  • Transitioned from "Power to Energy" in 2012, evolving from UPS and power protection to solar power solutions
  • Three core businesses: IPP Business with Energy Sales, Ground Mounted and Rooftop EPC business, and Channel-driven product business
  • Strong manufacturing base includes Solar Photovoltaic (PV) Modules, Module Mounting Structures, String Combiner Boxes, ACDB, DCDB
  • Vertically integrated manufacturing structure supporting Government's Atmanirbhar Bharat mission
  • Over 40+ years of expertise in power electronics and battery energy systems