- Home
- Results news
- Bharat Bijlee
- Q2 FY27 results
Bharat Bijlee Q2 FY27 results: net profit up 63.1% to ₹46.04 crore, revenue up 55.5%
Bharat Bijlee Limited reported standalone revenue of ₹736.16 crore in Q2 FY27, up 55.5% from ₹473.44 crore in Q2 FY26. Net profit rose 63.1% to ₹46.04 crore and basic EPS increased to ₹40.73, while EBITDA margin expanded to 8.0%.
Key points
- Q2 FY27 revenue was ₹736.16 crore, up 55.5% from ₹473.44 crore in Q2 FY26.
- EBITDA rose to ₹58.74 crore from ₹34.81 crore, while margin increased to 8.0% from 7.4%.
- Profit before tax was ₹61 crore, up 62.8%, and net profit rose to ₹46.04 crore from ₹28.23 crore.
- Basic EPS increased to ₹40.73 from ₹24.98 in the year-ago quarter and ₹17.37 in Q1 FY27.
- For H1 FY27, revenue was ₹1,283.33 crore, up 36.8%, while net profit rose 17.0% to ₹65.67 crore.
How did Bharat Bijlee perform in Q2 FY27?
Bharat Bijlee reported standalone revenue of ₹736.16 crore in Q2 FY27, up 55.5% from ₹473.44 crore in Q2 FY26 and 34.5% from ₹547.17 crore in Q1 FY27. EBITDA was ₹58.74 crore, compared with ₹34.81 crore a year earlier and ₹28.82 crore in the previous quarter. EBITDA margin increased to 8.0% from 7.4% year on year and 5.3% sequentially.
Profit before tax rose to ₹61 crore from ₹37.47 crore in Q2 FY26 and ₹26.09 crore in Q1 FY27. Net profit was ₹46.04 crore, compared with ₹28.23 crore and ₹19.63 crore, respectively. Basic EPS was ₹40.73, up from ₹24.98 a year ago and ₹17.37 in the preceding quarter. The results are on a standalone basis.
Total income was ₹752.14 crore in Q2 FY27, compared with ₹485.16 crore in Q2 FY26 and ₹558.06 crore in Q1 FY27. The company’s board approved the unaudited financial results and limited review report for the quarter and half year ended 30 September 2026 on 27 October 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 736.16 | 547.17 | 473.44 | +55.5% | +34.5% |
| Other income | 15.98 | 10.89 | 11.72 | +36.3% | +46.7% |
| Total expenses | 691.14 | 531.97 | 447.69 | +54.4% | +29.9% |
| EBITDA | 58.74 | 28.82 | 34.81 | +68.7% | +103.8% |
| EBITDA margin | 8.0% | 5.3% | 7.4% | +0.6 pp | +2.7 pp |
| Profit before tax | 61 | 26.09 | 37.47 | +62.8% | +133.8% |
| Tax | 14.96 | 6.46 | 9.24 | +61.9% | +131.6% |
| Net profit | 46.04 | 19.63 | 28.23 | +63.1% | +134.5% |
| EPS (₹) | 40.73 | 17.37 | 24.98 | +63.1% | +134.5% |
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 Bharat Bijlee's costs and profit?
Total expenses increased by ₹243.45 crore year on year, from ₹447.69 crore to ₹691.14 crore. Cost of materials consumed rose ₹182.06 crore to ₹607.30 crore, employee benefit expense increased ₹8.74 crore to ₹64.69 crore, and other expenses rose ₹13.47 crore to ₹50.06 crore. Finance costs increased ₹3.69 crore to ₹7.55 crore and depreciation and amortisation rose ₹0.97 crore to ₹6.17 crore.
Other income rose ₹4.26 crore to ₹15.98 crore from ₹11.72 crore in Q2 FY26. There was no exceptional item in either quarter. Tax expense increased ₹5.72 crore to ₹14.96 crore, from ₹9.24 crore, while profit before tax rose ₹23.53 crore to ₹61 crore and net profit increased ₹17.81 crore to ₹46.04 crore.
Sequentially, total expenses rose ₹159.17 crore to ₹691.14 crore from ₹531.97 crore. Cost of materials consumed increased ₹62.15 crore, employee benefit expense rose ₹3.70 crore, and other expenses increased ₹7.68 crore. Other income rose ₹5.09 crore to ₹15.98 crore, while finance costs fell ₹0.25 crore to ₹7.55 crore. No exceptional item was reported.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 607.30 | 425.24 | +182.06 | +42.8% |
| Employee cost | 64.69 | 55.95 | +8.74 | +15.6% |
| Finance costs | 7.55 | 3.86 | +3.69 | +95.6% |
| Depreciation | 6.17 | 5.20 | +0.97 | +18.7% |
| Other expenses | 50.06 | 36.59 | +13.47 | +36.8% |
| Total expenses | 691.14 | 447.69 | +243.45 | +54.4% |
| Other income | 15.98 | 11.72 | +4.26 | +36.3% |
| Tax | 14.96 | 9.24 | +5.72 | +61.9% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Bharat Bijlee reported standalone revenue of ₹1,283.33 crore, up 36.8% from ₹938.34 crore in H1 FY26. Total income rose 36.4% to ₹1,310.20 crore from ₹960.34 crore. Profit before tax increased 16.9% to ₹87.09 crore from ₹74.50 crore.
Net profit for H1 FY27 was ₹65.67 crore, compared with ₹56.11 crore in H1 FY26. Basic EPS rose 17.0% to ₹58.10 from ₹49.64. The filing also reported total expenses of ₹1,223.11 crore and tax expense of ₹21.42 crore for H1 FY27.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,283 | 938.34 | +36.8% |
| Profit before tax | 87.09 | 74.50 | +16.9% |
| Net profit | 65.67 | 56.11 | +17.0% |
| EPS (₹) | 58.10 | 49.64 | +17.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets increased to ₹3,684.34 crore at 30 September 2026 from ₹3,111.82 crore at 31 March 2026. Total equity rose to ₹2,313.07 crore from ₹2,028.73 crore, while borrowings increased to ₹395.04 crore from ₹301.00 crore. Cash and cash equivalents fell to ₹3.14 crore from ₹8.14 crore.
Inventories increased to ₹719.17 crore from ₹474.29 crore, while trade receivables declined to ₹500.73 crore from ₹577.29 crore. Trade payables rose to ₹404.30 crore from ₹352.55 crore. The filing also reported bank balances other than cash and cash equivalents of ₹371.66 crore, compared with ₹222.29 crore.
For H1 FY27, operating cash flow was ₹10.02 crore, compared with an outflow of ₹37.45 crore in H1 FY26. Investing cash flow was an outflow of ₹54.17 crore against ₹14.87 crore, while financing cash flow was ₹39.15 crore against ₹59.23 crore. Capital expenditure was ₹56.47 crore, compared with ₹43.48 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 3,684 | 3,112 |
| Total equity | 2,313 | 2,029 |
| Borrowings | 395.04 | 301 |
| Cash and equivalents | 3.14 | 8.14 |
| Inventories | 719.17 | 474.29 |
| Trade receivables | 500.73 | 577.29 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 10.02 | −37.45 |
| Cash from investing | −54.17 | −14.87 |
| Cash from financing | 39.15 | 59.23 |
| Capital expenditure | 56.47 | 43.48 |
Source: Company's results filing (XBRL).
How has Bharat Bijlee done over the last 8 quarters?
Revenue rose year on year in each of the last eight quarters. Over the reported period, revenue peaked at ₹767.09 crore in Q4 FY26 and bottomed at ₹464.90 crore in Q1 FY26. In Q2 FY27, revenue was ₹736.16 crore, above Q1 FY27’s ₹547.17 crore but below the Q4 FY26 peak.
Net profit reached its highest level at ₹50.31 crore in Q4 FY25 and its lowest at ₹19.63 crore in Q1 FY27. Q2 FY27 net profit was ₹46.04 crore, above the preceding quarter but below the peak. EBITDA margin rose to 8.0% from 5.3% in Q1 FY27, after ranging from 6.0% to 10.3% across the earlier reported quarters.
Which businesses drove the quarter?
Power systems reported Q2 FY27 revenue of ₹440.11 crore, up 69.4% from ₹259.76 crore in Q2 FY26. Segment EBIT was ₹49.18 crore, compared with ₹38.03 crore, and the reported EBIT margin was 11.2%. The segment includes transformers, turnkey projects for electrical substations and maintenance products.
Industrial systems reported revenue of ₹296.05 crore, up 38.5% from ₹213.68 crore in the year-ago quarter. Segment EBIT increased to ₹30.00 crore from ₹13.90 crore, with a reported EBIT margin of 10.1%. The segment includes electric motors, drives, automation systems and Magnet Technology Machines.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Power systems | 440.11 | +69.4% | 49.18 | 11.2% |
| Industrial systems | 296.05 | +38.5% | 30 | 10.1% |
Source: Company's results filing (XBRL segment data).
How did Bharat Bijlee shares react?
Bharat Bijlee’s shares were up 16.2% after five minutes, 14.8% after 15 minutes and 15.7% after 30 minutes from the price when the filing appeared. On the reaction day, the stock closed 13.8% above its pre-results close. By the next day’s close, it was up 11.1% from that close, and by five sessions it was up 9.0%.
Earlier results-day moves were mixed. The stock fell 6.7% on 4 August 2026 and 6.7% on 12 May 2026, after declining 8.8% on 9 February 2026 and 4.1% on 16 October 2025. It also fell 7.1% on 23 July 2025 and 10.4% on 16 May 2025, before rising 19.9% on 4 February 2025 and falling 17.2% on 8 November 2024.
| After the filing | Stock | Heavy Electrical Equipment median |
|---|---|---|
| 5 minutes | +16.2% | |
| 15 minutes | +14.8% | |
| 30 minutes | +15.7% | |
| Reaction day | +13.8% | +2.7% |
| Next day | +11.1% | +2.8% |
| 5 days | +9.0% | +1.4% |
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 |
|---|---|
| 4 August 2026 | −6.7% |
| 12 May 2026 | −6.7% |
| 9 February 2026 | −8.8% |
| 16 October 2025 | −4.1% |
| 23 July 2025 | −7.1% |
| 16 May 2025 | −10.4% |
| 4 February 2025 | +19.9% |
| 8 November 2024 | −17.2% |
Source: MarketPing price-reaction measurement.
How did other Heavy Electrical Equipment companies do?
Thirteen other Heavy Electrical Equipment companies had filed results for the quarter by 4 November 2026. Their median revenue growth was 23.8%, compared with Bharat Bijlee’s revenue growth of 55.5%. Eleven peers grew slower than Bharat Bijlee, while two grew faster.
Eight of the 13 peers reported higher profit, based on the profit comparison available for 13 peers.
| Bharat Bijlee revenue growth (YoY) | +55.5% |
|---|---|
| Median of 13 other Heavy Electrical Equipment companies | +23.8% |
| Companies with slower revenue growth than Bharat Bijlee | 11 of 13 |
| Companies with faster revenue growth than Bharat Bijlee | 2 of 13 |
| Companies whose net profit rose | 8 of 13 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Bharat Bijlee's revenue in Q2 FY27?
Revenue from operations was ₹736.16 crore, up 55.5% from ₹473.44 crore in Q2 FY26 (standalone).
Did Bharat Bijlee make a profit in Q2 FY27?
Yes. Net profit was ₹46.04 crore, against a net profit of ₹28.23 crore in Q2 FY26.
What was Bharat Bijlee's EPS in Q2 FY27?
Basic earnings per share were ₹40.73, against ₹24.98 in Q2 FY26.
How did Bharat Bijlee shares react to the Q2 FY27 results?
On the reaction day the stock moved +13.8% from the previous close; the median Heavy Electrical Equipment stock moved +2.7%.
When did Bharat Bijlee announce its Q2 FY27 results?
On 27 October 2026, in a filing to the BSE.
Sources
- Board Meeting Outcome for Outcome Of The Board Meeting (BSE, 27 October 2026) · PDF
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.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.