Q2 profit jumps sharply; Rs 2 per share interim dividend declared

Emphasis of matterRevenue growth above 20%Profit growth above 25%EBITDA margin expansionResults View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

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prior close

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announcement price

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Nifty Midcap 150market · index membership as recorded later (tracked since Jun 2026)-0.5%-2.2% vs market

Other Electrical Equipment peers, median of 42sector-0.6%-2.2% vs sector

On the reaction day the stock moved 2.2 pts less than Nifty Midcap 150 and 2.2 pts less than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Midcap 150Sector · Other Electrical Equipment peers, median of 42Pending

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AI summary

Q2 standalone revenue rose 45% to Rs 4,581.84 crore and profit after tax jumped 224% to Rs 1,159.53 crore, including a Rs 523.20 crore gain on the Indosolar share sale. Consolidated revenue was Rs 6,065.64 crore, up 70%, and profit after tax Rs 871.21 crore, up 132%. The board declared Rs 2 per share interim dividend. The review was unmodified but noted US customs uncertainty.

Likely market impact

Profit growth is positive but partly sale-driven, and the dividend supports returns. The unresolved US customs investigation creates duty and sentiment risk.

By the numbersConsolidated · Q2 FY26 vs Q2 FY25

	Q2 FY26	Q2 FY25	Change
Revenue	₹6,066 Cr	₹3,574 Cr	+69.7%
Operating profit	₹1,071 Cr	₹409.8 Cr	+161.3%
Profit after tax	₹878.2 Cr	₹375.7 Cr	+133.8%
EBITDA margin	23.2%	14.7%	+8.5 pp

From the company's XBRL filing, not from the text above. Operating profit = profit before tax − exceptional items − other income. EBITDA = profit before tax + finance costs + depreciation − other income.