Q2FY26 Results: Revenue Up YoY, PAT Halves on Higher Costs
TIRUPATIFL · price
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Tirupati Forge posted Q2FY26 revenue from operations of Rs 39.67 crores, up 23 percent QoQ and 23 percent YoY. H1FY26 revenue rose 17 percent YoY to Rs 71.97 crores. However, H1FY26 PAT nearly halved to Rs 2.75 crores from Rs 5.25 crores YoY, hit by higher depreciation and finance costs from new defence and solar assets and a 50 percent US tariff. EBITDA margins compressed. Operating cash flow turned sharply negative at minus Rs 286 lakhs versus positive Rs 585 lakhs full year FY25. Defence unit commercial production expected Q1FY27.
Mixed quarter: revenue growth intact but profit halved and operating cash flow turned negative; near-term pressures may persist until defence unit launches.