Q2 FY27 growth strong; management expects H2 margin expansion

Management guided margin improvementOrder pipeline disclosedMulti-year targets disclosedInvestor Communications View source PDF Explain this filing

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

-2.7%Reaction day

₹1099.70

prior close

₹1097.00

announcement price

After-mkt

timing

Nifty Microcap 250marketpendingvs market: pending

Auto Components & Equipments peers, median of 123sector-1.1%-1.6% vs sector

On the reaction day the stock moved 1.6 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

-2.4

10m

-3.6

15m

-3.2

30m

-3.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-2.7pendingpending-1.1-1.6

Next day

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15d

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UpDownMarket · Nifty Microcap 250Sector · Auto Components & Equipments peers, median of 123Pending

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

AI summary

Q2 FY27 revenue grew about 30%, with exports up 57%. H1 revenue rose 25% to INR3,254 crore, and quarterly profit before tax was INR160 crore versus INR140 crore. H1 EBITDA margin was 15.9%. Raw material inflation cut gross margin by about 2.5%, but management expects H2 margins to expand as exports gain share. Class 8 orders totaled 353,000 over 12 months, and aerospace revenue is targeted at INR200 crore in coming years.

Likely market impact

Strong exports support profit and margin recovery, but steel inflation, price pass-through delays and softer tractor and car demand may limit gains.