Q2 FY27 sales rise strongly as margins remain under pressure

Management guided margin pressureOrder pipeline disclosedInvestor Communications View source PDF Explain this filing

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

-3.4%Reaction day

₹1808.00

prior close

₹1811.30

announcement price

In-mkt

timing

Nifty Midcap 150market+1.9%-5.4% vs market

Auto Components & Equipments peers, median of 122sector+1.2%-4.6% vs sector

On the reaction day the stock moved 5.4 pts less than Nifty Midcap 150 and 4.6 pts less than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

-2.0

10m

-1.3

15m

-2.2

30m

-2.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-3.4+1.9-5.4+1.2-4.6

Next day

-3.8pendingpending+0.1-3.9

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15d

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UpDownMarket · Nifty Midcap 150Sector · Auto Components & Equipments peers, median of 122Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Q2 standalone revenue and EBITDA rose 29.8% and 20.2% YoY; margin fell 30 bps QoQ to 25.9% on input costs. Consolidated revenue rose 20.8%. H1 new orders: Rs 2,107 crore; defence order book: Rs 10,960 crore. FY27 Indian revenue growth guidance is 20% to 25%, while overseas business is under strategic review. The Rs 2,000 crore-plus investment programme will come online over 12 to 18 months; ATAGS revenue starts in FY28, with growth from FY29.

Likely market impact

Strong orders and expansion support future sales, but higher input costs and weak overseas profits may limit near-term earnings and stock gains.