Q2 FY27 call flags margin pressure and multiyear growth targets

Management guided margin improvementManagement 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

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₹12572.00

prior close

₹12510.00

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Consumer Electronics peers, median of 12sector+0.0%+0.4% vs sector

On the reaction day the stock moved 0.4 pts more than its Consumer Electronics 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

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AI summary

Q2 FY27 revenue was Rs 21,806 crore, EBITDA excluding the Aditya Infotech fair value gain was Rs 609 crore, and PAT excluding fair value gains was Rs 293 crore. Mobile PLI expiry and higher memory prices hurt margins. Management expects cost recovery and efficiencies to ease pressure, while exports, new customers and IT hardware support growth. It targets Rs 15,000-20,000 crore of IT hardware revenue in two years and 55-60 million mobile units in FY28.

Likely market impact

Near-term margins may stay pressured, but exports, new customers and IT hardware growth support the outlook. Input costs and execution are key risks.