Date: October 29, 2026

Quarterly Financial Performance (Q2 FY27)

Revenue and Profitability:

  • Consolidated Net Revenue from operations for Q2 FY27 stood at ₹1,852.89 crores, representing a growth of 38.2% over Q2 FY26 revenue of ₹1,340.92 crores.
  • Consolidated Profit After Tax for the quarter was ₹111.67 crores, showing a growth of 71% compared to ₹65.29 crores in the corresponding period of the previous year.
  • Gross margin for the quarter was 34.3%, compared to 37.6% in Q2 FY26.
  • EBITDA excluding other income was ₹167.93 crores, growing 53.7% YoY, with EBITDA margin at 9.1% (8.1% in Q2 FY26).
  • EBITDA after other income was ₹181.58 crores, growing 59.0% YoY, with margin at 9.8% (8.5% in Q2 FY26).
  • PBT was ₹149.74 crores, growing 76.0% YoY, with PBT margin at 8.1% (6.3% in Q2 FY26).
  • PAT margin was 6.0% compared to 4.9% in Q2 FY26.

Excluding Sunflame Business:

  • Net revenue excluding Sunflame was ₹1,779.63 crores, growing 39.3% YoY.
  • Gross margin excluding Sunflame was 34.2% compared to 37.4% in Q2 FY26.
  • People costs were ₹154.72 crores, up 18.9% YoY.
  • Other expenses were ₹289.66 crores, up 19.4% YoY.
  • PAT excluding Sunflame was ₹109.98 crores, growing 80.8% YoY.

Half-Yearly Financial Performance (H1 FY27)

Revenue and Profitability:

  • Consolidated Net Revenue from operations for H1 FY27 was ₹3,663.54 crores, representing a growth of 30.5% over H1 FY26 revenue of ₹2,807.00 crores.
  • Consolidated Profit After Tax for the six months was ₹241.92 crores, showing a growth of 73.9% compared to ₹139.14 crores in the corresponding period of the previous year.
  • Gross margin for H1 FY27 was 35.6% compared to 37.2% in H1 FY26.
  • EBITDA excluding other income was ₹358.89 crores, growing 54.1% YoY, with EBITDA margin at 9.8% (8.3% in H1 FY26).
  • EBITDA after other income was ₹384.22 crores, growing 58.1% YoY, with margin at 10.5% (8.7% in H1 FY26).
  • PBT was ₹321.61 crores, growing 75.4% YoY, with PBT margin at 8.8% (6.5% in H1 FY26).
  • PAT margin was 6.6% compared to 5.0% in H1 FY26.

Excluding Sunflame Business (H1 FY27):

  • Net revenue excluding Sunflame was ₹3,524.91 crores, growing 31.1% YoY.
  • Gross margin excluding Sunflame was 35.5% compared to 37.0% in H1 FY26.
  • People costs were ₹314.30 crores, up 18.9% YoY.
  • Other expenses were ₹585.75 crores, up 15.9% YoY.
  • PAT excluding Sunflame was ₹239.75 crores, growing 75.4% YoY.

Regional Performance

Q2 FY27 Regional Analysis:

  • South region revenue: ₹1,092.42 crores (59.0% contribution), growing 51.0% YoY
  • Non-South region revenue: ₹760.47 crores (41.0% contribution), growing 23.2% YoY

H1 FY27 Regional Analysis:

  • South region revenue: ₹2,066.53 crores (56.4% contribution), growing 39.0% YoY
  • Non-South region revenue: ₹1,597.01 crores (43.6% contribution), growing 20.9% YoY

Segment-wise Analysis

Q2 FY27 Segment Performance:

  • Electronics: Revenue ₹510.24 crores (27.5% contribution), growing 59.9% YoY; Segment result ₹81.43 crores; Margin 16.0% (17.2% in Q2 FY26)
  • Electricals: Revenue ₹794.25 crores (42.9% contribution), growing 41.2% YoY; Segment result ₹84.24 crores; Margin 10.6% (11.6% in Q2 FY26)
  • Consumer Durables: Revenue ₹475.22 crores (25.7% contribution), growing 20.0% YoY; Segment result ₹22.40 crores; Margin 4.7% (1.7% in Q2 FY26)
  • Sunflame: Revenue ₹76.08 crores (4.1% contribution), growing 20.5% YoY; Segment result ₹3.57 crores; Margin 4.7% (6.5% in Q2 FY26)

H1 FY27 Segment Performance:

  • Electronics: Revenue ₹1,168.70 crores (31.9% contribution), growing 36.6% YoY; Segment result ₹212.13 crores; Margin 18.2% (18.7% in H1 FY26)
  • Electricals: Revenue ₹1,464.37 crores (40.0% contribution), growing 34.7% YoY; Segment result ₹154.88 crores; Margin 10.6% (10.3% in H1 FY26)
  • Consumer Durables: Revenue ₹891.93 crores (24.3% contribution), growing 19.6% YoY; Segment result ₹37.32 crores; Margin 4.2% (0.0% in H1 FY26)
  • Sunflame: Revenue ₹141.77 crores (3.9% contribution), growing 19.5% YoY; Segment result ₹6.19 crores; Margin 4.4% (5.5% in H1 FY26)

Other Financial Metrics (Trailing Twelve Months)

  • Debtor days: 21 days (28 days in previous period)
  • Inventory days: 108 days (102 days in previous period)
  • Creditor days: 88 days (62 days in previous period)
  • Working capital days: 41 days (68 days in previous period)
  • Return on Equity (RoE): 16.0% (13.3% in previous period)
  • Return on Capital Employed (RoCE): 19.6% (16.4% in previous period)
  • Core RoCE (excluding cash): 23.4% (16.7% in previous period)

Management Commentary

Mr. Mithun K. Chittilappilly, Chairman & Managing Director, commented that the business delivered another quarter of robust and consistent performance with all segments delivering strong growth driven by both price increases and healthy volume growth for most categories. The growth was attributed to the inherent resilience of the business, right focus, and supportive market conditions.

He noted that the West Asia crisis continues to pose margin challenges which are being mitigated through various actions. The company continues to monitor the geo-political situation and will take appropriate actions necessary to protect supplies and margins. The management expressed hope to deliver healthy growth in the upcoming quarters.