Q2 profit up 31%; FY28 target retained; Birla Tyres transfer proposed
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Consolidated Q2 FY27 revenue was INR 1,691 crore, up 58% from INR 1,071 crore. Earnings before interest, tax, depreciation and amortisation rose 27% to INR 303 crore, while profit after tax rose 31% to INR 231 crore. H1 profit was INR 460 crore. Management retained its FY28 profit target of over INR 1,100 crore and expects operating earnings per tonne of INR 20,000-24,000. New battery capacities are planned; the Birla Tyres transfer needs approvals.
Strong profit growth and retained FY28 guidance support sentiment, while INR 800-900 crore FY27 capex, execution and merger approvals remain risks.