Financial Performance Summary

Consolidated Results for Q2 FY27 (Quarter Ended September 30, 2026):

  • Total Income: ₹2,746 crores (vs. ₹2,412 crores in Q2 FY26)
  • Profit Before Tax: ₹83 crores (vs. ₹54 crores in Q2 FY26)
  • Profit After Tax: ₹48 crores (vs. ₹32 crores in Q2 FY26)
  • Basic and Diluted EPS: ₹1.59* (not annualized)

Consolidated Results for H1 FY27 (Six Months Ended September 30, 2026):

  • Total Income: ₹7,511 crores (vs. ₹6,433 crores in H1 FY26)
  • Profit Before Tax: ₹368 crores (vs. ₹257 crores in H1 FY26)
  • Profit After Tax: ₹260 crores (vs. ₹172 crores in H1 FY26)
  • Basic and Diluted EPS: ₹8.05* (not annualized)

Segment-wise Performance (Q2 FY27)

A. Unitary Cooling Products (UCP):

  • Revenue: ₹1,567 crores (29% growth YoY)
  • Segment Results: ₹20 crores
  • Room Air Conditioner business recorded 32% volume growth during quarter
  • Maintained market leadership with 17.4% market share (4.2% lead over nearest competitor)
  • Distribution network: Over 30,000 touch points

B. Electro-Mechanical Projects and Services:

  • Revenue: ₹816 crores
  • Segment Results: ₹75 crores
  • Order book: Over ₹6,800 crore as of September 30, 2026
  • Domestic projects won across industrial infrastructure, electronics manufacturing, metro and tunnel projects, data centers

C. Engineering Products and Services:

  • Revenue: ₹185 crores (30+% growth)
  • Segment Results: ₹53 crores
  • Supported by Mining and Construction Equipment and Textile Machinery divisions

Key Operational Highlights

  • Voltbek (home appliances) achieved record Q2 sales with market shares of 8.8% in Washing Machines and 7.0% in Refrigerators
  • Favorable resolution of Sidra Bank Guarantee matter in Qatar eliminated contingent liabilities
  • Production Linked Incentive (PLI) Scheme approval received, recognizing ₹25 crores incentive income (₹15 crores for FY26, ₹5 crores for Q1 FY27)

Exceptional Items

  • Qatar project resolution: Write-back of ₹63.04 crores in other operating income due to favorable court judgment
  • Bank guarantees of ₹437.99 crores (QAR 166.6 million) cancelled after Court of Cassation upheld favorable ruling

Corporate Actions and Board Decisions

Leadership Changes:

1. Mr. Noel N. Tata (DIN: 00024713) retired as Chairman and Director effective close of business on November 11, 2026

  • Appointed as Chairman Emeritus from November 12, 2026

2. Mr. Sunil Alaric D'Souza (DIN: 07194259) appointed as Chairman effective November 12, 2026

3. Mr. Mukundan Menon C.P. (DIN: 09177076) to complete tenure as Managing Director on May 24, 2027

4. Mr. Jayant Balan (DIN: 03480708) appointed as Additional Director and Managing Director designate, to assume MD role from May 25, 2027 for 5-year term (subject to shareholder approval)

5. Mr. Venkatesalu Palaniswamy (DIN: 02190892) appointed as Additional Director (Non-Independent Non-Executive) effective November 12, 2026

Auditor Appointment:

  • Deloitte Haskins & Sells Chartered Accountants LLP (Firm Registration No. 117364W/W100739) appointed as Statutory Auditors for 5 years from conclusion of 73rd AGM (2027) to conclusion of 78th AGM (2032)
  • S R B C & Co. LLP's second and final term concludes at 73rd AGM in 2027

Financial Position (Consolidated as of September 30, 2026)

  • Total Assets: ₹13,767.55 crores
  • Total Equity: ₹6,399.05 crores
  • Paid-up equity share capital: ₹33.08 crores (Face value ₹1 each)
  • Cash and cash equivalents: ₹511.27 crores

Subsidiaries and Associates Included in Consolidation

Key entities: Universal MEP Projects & Engineering Services Limited, Voltbek Home Appliances Private Limited, Universal Voltas L.L.C., Olayan Voltas Contracting Company Limited, and multiple international subsidiaries

Board Meeting Details

  • Meeting held on November 6, 2026
  • Commenced at 11:00 a.m., concluded at 4:15 p.m.