Expo Engineering And Projects Q2 FY27 results: net profit down 12.9% to ₹0.74 crore, revenue up 0.1%

How did Expo Engineering And Projects perform in Q2 FY27?

Expo Engineering and Projects reported standalone revenue from operations of ₹15.01 crore in Q2 FY27, against ₹15 crore in Q2 FY26 and ₹13.75 crore in Q1 FY27. The result was ₹0.01 crore or 0.1% higher year on year and ₹1.26 crore or 9.2% higher sequentially. The investor presentation also refers to the quarter’s financial highlights, while its results table is for the standalone accounts.

EBITDA was ₹1.66 crore in Q2 FY27, compared with ₹2.01 crore in Q2 FY26 and ₹1.64 crore in Q1 FY27. The margin was 11.1%, down 2.3 percentage points from Q2 FY26 and 0.9 percentage points from Q1 FY27. Profit before tax and net profit were each ₹0.74 crore, against ₹0.85 crore a year earlier and ₹0.61 crore in Q1 FY27; basic EPS was ₹0.28.

The company’s standalone results were filed with the BSE for the quarter and half year ended 30 September 2026. The board approved the unaudited results and the limited review report of the statutory auditors.

What changed in Expo Engineering And Projects' costs and profit?

Total expenses were ₹14.28 crore in Q2 FY27, up ₹0.13 crore or 0.9% from Q2 FY26. Cost of materials was ₹6.38 crore, up ₹0.04 crore or 0.6%, employee cost was ₹2.78 crore, up ₹0.22 crore or 8.6%, and finance costs were ₹0.86 crore, down ₹0.19 crore or 18.1%.

Other expenses were ₹5.41 crore, down ₹2.14 crore or 28.3% from Q2 FY26, while depreciation was ₹0.06 crore, down ₹0.04 crore or 40.0%. Other income was unchanged at ₹0 crore, there was no exceptional item, and tax was unchanged at ₹0 crore. The filing does not state the reasons for the movements in the cost lines.

Against Q1 FY27, total expenses were higher by ₹1.14 crore or 8.7%. Employee cost rose ₹0.66 crore or 31.1%, cost of materials rose ₹0.24 crore or 3.9%, and other expenses rose ₹0.26 crore or 5.0%; finance costs fell ₹0.11 crore or 11.3% and depreciation fell ₹0.01 crore or 14.3%.

How did the first half of FY27 go?

In the first half of FY27, standalone revenue was ₹28.76 crore, down ₹4.09 crore or 12.5% from ₹32.85 crore in H1 FY26. Total income was ₹28.77 crore, down ₹4.08 crore or 12.4% from ₹32.85 crore. The filing included no exceptional item for either half-year period.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹86.49 crore, compared with ₹86.99 crore at 31 March 2026. Total equity rose to ₹57.13 crore from ₹39.27 crore, while borrowings fell to ₹21.67 crore from ₹32.63 crore. Inventories were ₹52.51 crore against ₹49.99 crore, trade receivables were ₹10.19 crore against ₹13.69 crore, and trade payables were ₹3.15 crore against ₹7.25 crore.

H1 FY27 operating cash flow was negative ₹6.03 crore, compared with negative ₹3.37 crore in H1 FY26. Investing cash flow was negative ₹0.13 crore against negative ₹0.62 crore, financing cash flow was positive ₹5.56 crore against positive ₹6.47 crore, and capital expenditure was ₹0.03 crore against ₹0.62 crore. Cash and cash equivalents were ₹0.01 crore at both balance-sheet dates.

How has Expo Engineering And Projects done over the last 8 quarters?

Revenue reached its highest level in the reported period at ₹39.83 crore in Q4 FY25 and its lowest at ₹13.75 crore in Q1 FY27. It then rose to ₹15.01 crore in Q2 FY27 from ₹17.28 crore in Q4 FY26, indicating a recovery from the recent low after the prior-year peak.

Net profit reached ₹1.57 crore in Q4 FY25 and bottomed at a net loss of ₹0.66 crore in Q4 FY26. It returned to ₹0.61 crore in Q1 FY27 and rose to ₹0.74 crore in Q2 FY27, while the EBITDA margin was 11.1%, below its recent peak of 13.4% in Q2 FY26.

What else did the company announce?

The company filed its investor presentation for the quarter and half year ended 30 September 2026 with the BSE on 31 October 2026. The presentation reported a net order book of ₹141.41 crore and described fund utilisation following a preferential-allotment issue of 31,45,715 equity shares aggregating to ₹22.02 crore.

The presentation stated that the funds were used for ₹14 crore of bank-loan repayment, ₹5.02 crore of working capital and ₹3 crore for general corporate purposes. The board’s same-day result filing approved the standalone unaudited financial results and the limited review report; no dividend or appointment was reported in the cited filings.

What did Expo Engineering And Projects' management say?

Management said the company delivered a profitability-focused Q2 FY27 performance, with disciplined execution and continued emphasis on operational efficiency. The chairman said the focus remained on sustaining in the market, maintaining business efficiency, prudent capital deployment and timely execution across ongoing and upcoming projects.

Management said, “With this order book the Company is in the path of excellent performance in the current year.” It also said it expected incremental order accretion in the coming quarters and that these additions to the order book were expected to support revenue visibility and operational momentum.

The presentation’s priorities included upgrading manufacturing facilities for faster production cycles and timely deliveries, bidding for projects aligned with the company’s strengths and capacity, pursuing larger tenders, expanding the customer base beyond Public Sector Oil companies and enlisting overseas project management consultants to raise the export share. The presentation did not provide a quantified FY27 earnings target or detail analysts’ questions.

How did Expo Engineering And Projects shares react?

The stock rose 2.3% on the reaction day from its pre-results close and was up 5.3% by the next day’s close on the same basis. The Other Industrial Products industry median moved negative 1.3% on the reaction day and negative 0.1% by the next day’s close; Expo Engineering’s excess moves were 3.6 percentage points and 5.4 percentage points, respectively.

Earlier reaction-day moves were mixed: the stock rose 2.5% on 11 August 2026 and 1.8% on 13 February 2026, while it fell 1.2% on 11 May 2026 and 10.3% on 29 October 2025. The figures describe historical price moves and do not indicate a future direction.

How did other Other Industrial Products companies do?

Eleven other Other Industrial Products companies that had filed for the quarter were compared. Their median revenue growth was 16.3%, while nine grew faster than Expo Engineering and two grew more slowly; five reported higher profit among the seven companies for which profit was compared.