Fabtech Technologies Q2 FY26 results: net profit ₹28.11 crore

How did Fabtech Technologies perform in Q2 FY26?

Fabtech Technologies reported consolidated revenue of ₹121.48 crore in Q2 FY26, compared with ₹68.01 crore in Q1 FY26, a rise of 78.6%. Total income was ₹124.28 crore, up 80.2% from ₹68.95 crore, while total expenses increased 21.4% to ₹93.40 crore. The results cover the July–September 2025 quarter.

EBITDA was ₹30.45 crore, compared with a loss of ₹6.21 crore in Q1 FY26, and EBITDA margin improved from -9.1% to 25.1%. Profit before tax was ₹30.88 crore, compared with a loss of ₹6.23 crore. Net profit was ₹28.11 crore and basic EPS was ₹8.68, versus a net loss of ₹6.13 crore and EPS of -₹1.89 in Q1 FY26. The quarter had no exceptional item.

The standalone basis reported revenue of ₹110.69 crore and net profit of ₹12.22 crore. For H1 FY26, consolidated revenue was ₹189.49 crore, total income was ₹193.23 crore, profit before tax was ₹24.65 crore and net profit was ₹21.98 crore; basic EPS for the half was ₹6.79.

What do the balance sheet and cash flow show?

At 30 September 2025, total assets were ₹417.51 crore, total equity was ₹194.83 crore, borrowings were ₹14.39 crore and cash was ₹22.17 crore. Inventories stood at ₹25.52 crore, trade receivables at ₹154.66 crore and trade payables at ₹49.7 crore. A previous balance-sheet date was not provided for comparison.

For H1 FY26, operating cash flow was ₹44.89 crore and investing cash flow was ₹12.33 crore, while financing cash flow was a net outflow of ₹44.11 crore. Capital expenditure was ₹2.35 crore. A year-earlier cash-flow comparison was not provided.

Which businesses drove the quarter?

On a geographic basis, UAE revenue was ₹47.18 crore, Saudi Arabia revenue was ₹31.57 crore, Rest of the World revenue was ₹49.99 crore and India revenue was ₹8.54 crore. Kenya reported ₹2.73 crore, Egypt ₹1.9 crore, Algeria ₹1.62 crore and Sri Lanka ₹0.12 crore.

The reported EBIT for each geographic business was ₹0 crore, with an EBIT margin of 0.0%. The filing did not provide year-ago segment revenue, EBIT or growth rates, so the direction of segment growth cannot be stated from the available figures.

What did Fabtech Technologies' management say?

Management said the business was project-based rather than capital-intensive, and that annual guidance was more relevant than quarterly guidance. It declined to provide specific EBITDA-margin guidance because project execution makes quarterly results non-comparable, while stating that the company operated in 22 countries and had executed projects in 62 countries cumulatively.

Management said the order book was INR90,441.87 lakhs on 31 July 2025 and had a further 7–9% QoQ build by September 2025. It also said 20 new projects worth INR137 crores had been secured, with average execution completion of about 65%. The company targets 20–25% sustained YoY revenue growth.

Management identified client readiness, regulatory cycles in target geographies and working-capital requirements as constraints, with working-capital days of 120–150. It said the capacity for a large revenue increase was limited by working capital rather than fixed assets, and that no capex expansion was planned. A KP Group MOU was signed to add sustainable-energy offerings to the turnkey pipeline.

CEO Ashwani Kumar Singh said the project model could support higher revenue without the same proportion of fixed-asset expansion. Chief Growth Officer Aman Anavkar said: “We operate in a yearly guidance business. We are not a quarter-to-quarter business.” No analyst questions were listed in the available earnings-call record.

How did Fabtech Technologies shares react?

The filing appeared after market hours on 27 October 2025. Fabtech Technologies was down 3.9% after five minutes, 3.0% after 15 minutes and 5.8% after 30 minutes from the price when the filing appeared. By the reaction-day close, the stock was up 9.7% from its pre-results close of ₹229.01.

By the next day's close, the stock was up 4.9% from its pre-results close, and by the fifth session it was up 3.4%. The Medical Equipment & Supplies industry median was up 2.8% by the next day's close and 1.7% by the fifth session, leaving Fabtech Technologies ahead by 2.1 percentage points and 1.7 percentage points, respectively.

How did other Medical Equipment & Supplies companies do?

The peer set covered 12 other Medical Equipment & Supplies companies that had filed for the quarter. Their median revenue growth was 22.6%. Six peers reported higher profit, based on eight peers for which profit was compared.

The available peer data does not specify how many other companies grew slower or faster than Fabtech Technologies, so the two requested peer-growth counts cannot be stated.