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Atlanta Electricals Q2 FY27 results: net profit up 28.0% to ₹32.12 crore, revenue up 23.1%
Atlanta Electricals Limited reported consolidated Q2 FY27 revenue of ₹390.08 crore, up 23.1% year on year, while EBITDA rose to ₹59.59 crore and profit after tax to ₹32.12 crore. Lower EBITDA margin, higher costs and a weaker sequential quarter weighed on the result, even as the company maintained its FY27-FY28 margin guidance.
Key points
- Consolidated Q2 FY27 revenue was ₹390.08 crore, up 23.1% from ₹316.96 crore in Q2 FY26 but down 16.4% from ₹466.33 crore in Q1 FY27.
- EBITDA was ₹59.59 crore at a 15.3% margin, up 8.7% year on year but down 22.7% from Q1 FY27.
- Profit after tax was ₹32.12 crore, up 28.0% year on year but down 31.4% from the previous quarter.
- H1 FY27 revenue was ₹856.41 crore and profit after tax was ₹78.96 crore, up 35.5% and 40.4%, respectively, from H1 FY26.
- Management maintained EBITDA margin guidance of 16-18% for FY27 and FY28 and reaffirmed an approximately 40% three-year revenue CAGR aspiration.
How did Atlanta Electricals perform in Q2 FY27?
Atlanta Electricals reported consolidated Q2 FY27 revenue of ₹390.08 crore, up 23.1% from ₹316.96 crore in Q2 FY26 but down 16.4% from ₹466.33 crore in Q1 FY27. EBITDA was ₹59.59 crore at a 15.3% margin, up 8.7% year on year and down 22.7% sequentially; the margin fell 2.0 percentage points year on year and 1.2 percentage points from the previous quarter.
Profit before tax was ₹44.53 crore, up 18.2% from ₹37.67 crore a year earlier but down 30.0% from ₹63.58 crore in Q1 FY27. Profit after tax was ₹32.12 crore, up 28.0% year on year and down 31.4% sequentially, while basic EPS was ₹4.18. On a standalone basis, revenue was ₹390.08 crore and profit after tax was ₹39.52 crore, against ₹61.35 crore in Q2 FY26.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 390.08 | 466.33 | 316.96 | +23.1% | −16.4% |
| Other income | 3.41 | 2.32 | 1.57 | +117.2% | +47.0% |
| Total expenses | 348.96 | 405.07 | 280.87 | +24.2% | −13.9% |
| EBITDA | 59.59 | 77.10 | 54.80 | +8.7% | −22.7% |
| EBITDA margin | 15.3% | 16.5% | 17.3% | −2.0 pp | −1.2 pp |
| Profit before tax | 44.53 | 63.58 | 37.67 | +18.2% | −30.0% |
| Tax | 12.41 | 16.74 | 12.57 | −1.3% | −25.9% |
| Net profit | 32.12 | 46.84 | 25.10 | +28.0% | −31.4% |
| EPS (₹) | 4.18 | 6.09 | 13.99 | −70.1% | −31.4% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Atlanta Electricals' costs and profit?
Cost of materials was the largest year-on-year increase, rising ₹100.98 crore, or 34.2%, to ₹396.37 crore from ₹295.39 crore. Employee cost rose ₹1.97 crore, or 20.2%, to ₹11.73 crore, while depreciation rose ₹4.51 crore, or 81.9%, to ₹10.02 crore. Other expenses fell ₹0.85 crore, or 2.6%, to ₹32.32 crore, and finance costs fell ₹4.75 crore, or 36.0%, to ₹8.45 crore.
Total expenses rose ₹68.09 crore, or 24.2%, to ₹348.96 crore from ₹280.87 crore in Q2 FY26, against revenue growth of 23.1%. Other income increased ₹1.84 crore, or 117.2%, to ₹3.41 crore, and there was no exceptional item. Tax was ₹12.41 crore, down ₹0.16 crore, or 1.3%, from ₹12.57 crore, so profit after tax rose ₹7.02 crore, or 28.0%.
Management said elevated commodity prices and unusually heavy rainfall disrupted manufacturing operations and delayed customer deliveries during the quarter. It also said higher input costs affected margins, particularly on certain firm-price contracts, while firm-price contracts were beginning to roll off.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 396.37 | 295.39 | +100.98 | +34.2% |
| Employee cost | 11.73 | 9.76 | +1.97 | +20.2% |
| Finance costs | 8.45 | 13.20 | −4.75 | −36.0% |
| Depreciation | 10.02 | 5.51 | +4.51 | +81.9% |
| Other expenses | 32.32 | 33.17 | −0.85 | −2.6% |
| Total expenses | 348.96 | 280.87 | +68.09 | +24.2% |
| Other income | 3.41 | 1.57 | +1.84 | +117.2% |
| Tax | 12.41 | 12.57 | −0.16 | −1.3% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹856.41 crore, up 35.5% from ₹632.07 crore in H1 FY26, while total income was ₹862.14 crore, up 35.5% from ₹636.06 crore. Profit before tax rose 35.7% to ₹108.11 crore from ₹79.64 crore.
H1 FY27 profit after tax was ₹78.96 crore, up 40.4% from ₹56.24 crore in H1 FY26. The reported EPS was ₹10.27, compared with ₹31.36 in the prior-year half.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 856.41 | 632.07 | +35.5% |
| Profit before tax | 108.11 | 79.64 | +35.7% |
| Net profit | 78.96 | 56.24 | +40.4% |
| EPS (₹) | 10.27 | 31.36 | −67.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹1818.15 crore at 30 September 2026, compared with ₹1508.61 crore at 31 March 2026. Total equity rose to ₹1007.77 crore from ₹929.19 crore, while borrowings increased to ₹69.14 crore from ₹46.62 crore and cash fell to ₹4.45 crore from ₹6.69 crore.
Inventories were ₹632.93 crore at 30 September 2026, compared with ₹364.13 crore at 31 March 2026. Trade receivables fell to ₹371.98 crore from ₹424.03 crore, while trade payables rose to ₹513.16 crore from ₹397.78 crore.
H1 FY27 operating cash flow was ₹58.94 crore, compared with ₹37.78 crore in H1 FY26. Investing cash flow was negative ₹69.34 crore against negative ₹247.7 crore, financing cash flow was positive ₹8.16 crore against positive ₹569.86 crore, and capital expenditure was ₹80.12 crore against ₹60.64 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,818 | 1,509 |
| Total equity | 1,008 | 929.19 |
| Borrowings | 69.14 | 46.62 |
| Cash and equivalents | 4.45 | 6.69 |
| Inventories | 632.93 | 364.13 |
| Trade receivables | 371.98 | 424.03 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 58.94 | 37.78 |
| Cash from investing | −69.34 | −247.70 |
| Cash from financing | 8.16 | 569.86 |
| Capital expenditure | 80.12 | 60.64 |
Source: Company's results filing (XBRL).
How has Atlanta Electricals done over the last 6 quarters?
Revenue rose across the last two quarters on a year-on-year basis, but the sequential path was uneven. It bottomed at ₹315.11 crore in Q1 FY26, peaked at ₹747.62 crore in Q4 FY26, and fell to ₹466.33 crore in Q1 FY27 and ₹390.08 crore in Q2 FY27. The available figures do not provide a five-quarter revenue streak.
Profit after tax followed the same broad shape, bottoming at ₹25.1 crore in Q2 FY26, peaking at ₹102.19 crore in Q4 FY26, and then falling to ₹46.84 crore in Q1 FY27 and ₹32.12 crore in Q2 FY27. EBITDA margin bottomed at 15.3% in Q2 FY27 after peaking at 20.0% in Q4 FY26.
What else did the company announce?
Atlanta Electricals filed its Q2 and H1 FY27 results with the BSE on 31 October 2026, and the board approved the unaudited standalone and consolidated financial results for the quarter and half-year ended 30 September 2026. The same filing also placed the independent auditor’s certificate for use of IPO proceeds before the board.
AE Components Private Limited, a wholly owned subsidiary, approved capital expenditure of approximately ₹193.58 crore for a new manufacturing facility producing transformer tanks, frames and radiators. The filing said the project forms part of the company’s backward-integration initiative and is targeted for completion within one year, subject to regulatory approvals and other formalities.
What did Atlanta Electricals' management say?
Management targets completion and short-circuit testing of a 315 MVA 400 kV unit in Q3 FY27, with commercial contribution in Q4 FY27. It also targets 765 kV production in Q4 FY27 and completion and testing between Q4 FY27 and Q1 FY28. The company identified Gujarat flooding, higher transformer oil, copper and steel prices, residual firm-price contracts, sanctions-related constraints and component or logistics disruptions as risks.
How did Atlanta Electricals shares react?
By the next day’s close, the stock was down 11.8% from its pre-results close. There is no five-day reaction or industry-median comparison for this result. Earlier reaction-day moves were down 4.8% on 21 July 2026, up 2.9% on 9 May 2026, up 1.0% on 19 January 2026 and down 2.9% on 17 October 2025.
| After the filing | Stock |
|---|---|
| 5 minutes | −3.4% |
| 15 minutes | −3.4% |
| 30 minutes | −3.4% |
| Reaction day | −10.3% |
| Next day | −11.8% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 21 July 2026 | −4.8% |
| 9 May 2026 | +2.9% |
| 19 January 2026 | +1.0% |
| 17 October 2025 | −2.9% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Atlanta Electricals' revenue in Q2 FY27?
Revenue from operations was ₹390.08 crore, up 23.1% from ₹316.96 crore in Q2 FY26 (consolidated).
Did Atlanta Electricals make a profit in Q2 FY27?
Yes. Net profit was ₹32.12 crore, against a net profit of ₹25.10 crore in Q2 FY26.
What was Atlanta Electricals' EPS in Q2 FY27?
Basic earnings per share were ₹4.18, against ₹13.99 in Q2 FY26.
How did Atlanta Electricals shares react to the Q2 FY27 results?
On the reaction day the stock moved −10.3% from the previous close.
When did Atlanta Electricals announce its Q2 FY27 results?
On 31 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for To Consider And Approve The Financial Results For The Quarter And Half Year Ended On 30Th September, 2026 (BSE, 27 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting - Financial Results For The Quarter And Half Year Ended On 30Th September, 2026 (BSE, 31 October 2026) · PDF
- Results - Financial Results For Quarter And Half Year Ended On 30Th September, 2026 (BSE, 31 October 2026) · PDF
- The earnings call (2 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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