- Home
- Results news
- GK Energy
- Q2 FY27 results
GK Energy Q2 FY27 results: net profit up 5.2% to ₹49.37 crore, revenue up 1.1%
GK Energy Limited reported consolidated Q2 FY27 revenue of ₹408.65 crore, up 1.1% from Q2 FY26, with profit after tax of ₹49.37 crore and basic EPS of ₹2.43. EBITDA was ₹72.43 crore at a 17.7% margin, while the first half saw revenue rise 25.4% to ₹913.85 crore and PAT rise 29.4% to ₹109.02 crore.
Key points
- Consolidated Q2 FY27 revenue was ₹408.65 crore, up 1.1% year on year but down 19.1% from Q1 FY27.
- EBITDA was ₹72.43 crore in Q2 FY27, with a 17.7% margin against 18.0% in Q2 FY26 and 16.4% in Q1 FY27.
- PAT was ₹49.37 crore and basic EPS was ₹2.43 in Q2 FY27, up 5.2% year on year but lower sequentially.
- H1 FY27 revenue was ₹913.85 crore, total income was ₹919.34 crore, and PAT was ₹109.02 crore.
- The stock fell 5.0% on the reaction day and was down 7.8% from the pre-results close by the next day's close.
How did GK Energy perform in Q2 FY27?
GK Energy reported consolidated revenue of ₹408.65 crore in Q2 FY27, up ₹4.60 crore, or 1.1%, from ₹404.05 crore in Q2 FY26. Against Q1 FY27, revenue fell ₹96.54 crore, or 19.1%, from ₹505.19 crore. Total income was ₹410.70 crore, compared with ₹405.92 crore a year earlier and ₹508.64 crore in the previous quarter.
EBITDA was ₹72.43 crore in Q2 FY27, down ₹0.37 crore from ₹72.80 crore in Q2 FY26, while the margin declined 0.3 percentage points to 17.7%. EBITDA fell ₹10.23 crore from ₹82.66 crore in Q1 FY27, but its margin increased 1.3 percentage points from 16.4%. PAT was ₹49.37 crore, up ₹2.46 crore from ₹46.91 crore a year earlier, and basic EPS was ₹2.43. On a standalone basis, revenue was ₹402.65 crore and PAT was ₹49.36 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 408.65 | 505.19 | 404.05 | +1.1% | −19.1% |
| Other income | 2.05 | 3.44 | 1.87 | +9.6% | −40.4% |
| Total expenses | 344.89 | 428.38 | 343.21 | +0.5% | −19.5% |
| EBITDA | 72.43 | 82.66 | 72.80 | −0.5% | −12.4% |
| EBITDA margin | 17.7% | 16.4% | 18.0% | −0.3 pp | +1.3 pp |
| Profit before tax | 65.81 | 80.26 | 62.71 | +4.9% | −18.0% |
| Tax | 16.44 | 20.61 | 15.80 | +4.1% | −20.2% |
| Net profit | 49.37 | 59.65 | 46.91 | +5.2% | −17.2% |
| EPS (₹) | 2.43 | 2.94 | 2.31 | +5.2% | −17.3% |
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 GK Energy's costs and profit?
Total expenses were ₹344.89 crore in Q2 FY27, up ₹1.68 crore from ₹343.21 crore in Q2 FY26. Cost of materials rose ₹26.74 crore to ₹273.24 crore, employee cost increased ₹1.11 crore to ₹8.15 crore, depreciation rose ₹0.55 crore to ₹1.36 crore, and other expenses increased ₹6.27 crore to ₹39.47 crore. Finance costs declined ₹3.83 crore to ₹7.32 crore.
Other income increased ₹0.18 crore to ₹2.05 crore, and there was no exceptional item. Profit before tax rose ₹3.10 crore to ₹65.81 crore, while tax was ₹16.44 crore, up ₹0.64 crore from ₹15.80 crore. PAT therefore rose ₹2.46 crore to ₹49.37 crore, and the PAT margin increased 0.5 percentage points to 12.1%.
The earnings call attributed the seasonal weakness in the quarter to the monsoon slowing field installation, especially for agriculture pumps. Management also said that its operating model directs capital towards execution, technology, brand and customer reach rather than fixed assets.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 273.24 | 246.50 | +26.74 | +10.8% |
| Employee cost | 8.15 | 7.04 | +1.11 | +15.8% |
| Finance costs | 7.32 | 11.15 | −3.83 | −34.3% |
| Depreciation | 1.36 | 0.81 | +0.55 | +67.9% |
| Other expenses | 39.47 | 33.20 | +6.27 | +18.9% |
| Total expenses | 344.89 | 343.21 | +1.68 | +0.5% |
| Other income | 2.05 | 1.87 | +0.18 | +9.6% |
| Tax | 16.44 | 15.80 | +0.64 | +4.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, GK Energy reported consolidated revenue of ₹913.85 crore, up ₹185.02 crore, or 25.4%, from ₹728.83 crore in H1 FY26. Total income was ₹919.34 crore, an increase of ₹187.02 crore, or 25.5%, from ₹732.32 crore.
Profit before tax rose ₹32.84 crore, or 29.0%, to ₹146.07 crore. PAT increased ₹24.79 crore, or 29.4%, to ₹109.02 crore, while EPS rose from ₹4.15 to ₹5.37. The consolidated figures show higher revenue, profit and EPS in the first half than a year earlier.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 913.85 | 728.83 | +25.4% |
| Profit before tax | 146.07 | 113.23 | +29.0% |
| Net profit | 109.02 | 84.23 | +29.4% |
| EPS (₹) | 5.37 | 4.15 | +29.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹1,543.52 crore at 30 September 2026, compared with ₹1,305.27 crore at 31 March 2026. Total equity increased to ₹984.27 crore from ₹887.64 crore, while borrowings rose to ₹344.07 crore from ₹205.50 crore. Cash fell to ₹11.57 crore from ₹335.48 crore.
Trade receivables increased to ₹1,012.38 crore from ₹588.77 crore, and inventories rose to ₹82.35 crore from ₹58.18 crore. Trade payables were ₹132.85 crore, compared with ₹134.89 crore at the previous balance-sheet date. Management said ₹377.5 crore was collected after 30 September 2026, reducing receivable days to about 128.
H1 FY27 operating cash flow was negative ₹361.91 crore, compared with negative ₹245.74 crore in H1 FY26. Investing cash flow was negative ₹76.28 crore against negative ₹400.70 crore, while financing cash flow was ₹114.29 crore against ₹674.75 crore. Capital expenditure was ₹1.51 crore, compared with ₹76.73 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,544 | 1,305 |
| Total equity | 984.27 | 887.64 |
| Borrowings | 344.07 | 205.50 |
| Cash and equivalents | 11.57 | 335.48 |
| Inventories | 82.35 | 58.18 |
| Trade receivables | 1,012 | 588.77 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −361.91 | −245.74 |
| Cash from investing | −76.28 | −400.70 |
| Cash from financing | 114.29 | 674.75 |
| Capital expenditure | 1.51 | 76.73 |
Source: Company's results filing (XBRL).
How has GK Energy done over the last 6 quarters?
Revenue peaked at ₹509.69 crore in Q3 FY26 and bottomed at ₹324.79 crore in Q1 FY26. It then declined to ₹476.76 crore in Q4 FY26, recovered to ₹505.19 crore in Q1 FY27, and fell to ₹408.65 crore in Q2 FY27. Revenue rose year on year in each of the last two quarters.
PAT followed a similar pattern, bottoming at ₹37.31 crore in Q1 FY26 and peaking at ₹60.82 crore in Q3 FY26. It eased to ₹59.25 crore in Q4 FY26, rose to ₹59.65 crore in Q1 FY27, and declined to ₹49.37 crore in Q2 FY27. Profit rose year on year in each of the last two quarters, while the EBITDA margin ended at 17.7%.
Which businesses drove the quarter?
The EPC Business and Supply of Systems segment reported revenue of ₹392.74 crore in Q2 FY27, up 9.5% from ₹358.50 crore in Q2 FY26. Segment EBIT was ₹74.91 crore, compared with ₹80.88 crore a year earlier, and the reported EBIT margin was 19.1%.
Trading of Solar Cells (DCR) and Others reported revenue of ₹15.91 crore, down 65.1% from ₹45.54 crore in Q2 FY26. Segment EBIT was ₹0.32 crore, compared with ₹0.92 crore, while the reported EBIT margin was 2.0%. A corrigendum filed on 29 October 2026 corrected an arithmetical rounding-off error in segment revenue for the quarter and half year.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| EPC Business and Supply of Systems | 392.74 | +9.5% | 74.91 | 19.1% |
| Trading of Solar Cells (DCR) and Others | 15.91 | −65.1% | 0.32 | 2.0% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
On 29 October 2026, the board approved the un-audited standalone and consolidated results for the quarter and half year ended 30 September 2026, following review by the audit committee. It also approved reallocating unutilised IPO proceeds of Rs. 19.10 million from issue-related expenses to general corporate purposes, subject to shareholder approval and applicable requirements.
The board approved the proposed incorporation of five wholly owned subsidiaries in the energy sector: GK Energy BESS Private Limited, GK Energy BESS One Private Limited, GK Energy BESS Two Private Limited, GK Energy BESS Three Private Limited and GK Energy BESS Four Private Limited. Their incorporation is subject to approval by the Registrar of Companies, and the board said it would update investors after completion.
What did GK Energy's management say?
Management maintained FY27 guidance for close to 40% revenue growth even without PM KUSUM, along with an EBITDA margin of 17-18% and a double-digit PAT margin. It said ₹3,000 crore of FY27 revenue was achievable if PM KUSUM launched on time, while the ambition without the scheme was ₹2,200 crore, with about ₹900 crore executed and ₹1,300 crore required in the second half. Management expected PM KUSUM in Q3 FY27, with business contribution from Q4 FY27 onward.
Management said the order book was ₹788 crore and included an institutional order for 100,000 rooftop solar systems and a 150 MW/300 MWh utility-scale BESS project. It said ₹377.5 crore had been collected after 30 September 2026, reducing receivable days from 204 to about 128, and maintained expectations of 120-150 receivable days at year-end. Management also said BESS was moving beyond EPC towards owned plants with 15-year DISCOM revenue arrangements.
Management identified PM KUSUM timing, receivable days, capital-intensive BESS expansion, the repeatability of large rooftop orders and eventual promoter dilution as risks. It said it was not intending to dilute equity, although the Chairman, Managing Director and CEO said promoter ownership must eventually come down to 75% from the current 79-point-some percentage. No analyst questions were included in the supplied call material.
How did GK Energy shares react?
The filing appeared during market hours. From the price when it appeared, GK Energy shares fell 1.8% after 5 minutes, 3.8% after 15 minutes and 5.6% after 30 minutes. The reaction-day close was down 5.0% from the previous close of ₹103.00. By the next day's close, the stock was down 7.8% from that pre-results close.
Earlier result-day reactions were mixed. The stock rose 6.4% on 7 August 2026, 2.5% on 13 May 2026 and 4.7% on 13 February 2026, before falling 3.6% on 10 October 2025. These moves describe the recorded reactions and do not indicate a future price direction.
| After the filing | Stock | Civil Construction median |
|---|---|---|
| 5 minutes | −1.8% | |
| 15 minutes | −3.8% | |
| 30 minutes | −5.6% | |
| Reaction day | −5.0% | +0.7% |
| Next day | −7.8% | −1.1% |
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 |
|---|---|
| 7 August 2026 | +6.4% |
| 13 May 2026 | +2.5% |
| 13 February 2026 | +4.7% |
| 10 October 2025 | −3.6% |
Source: MarketPing price-reaction measurement.
How did other Civil Construction companies do?
Eighteen other Civil Construction companies were compared for revenue growth, with a median revenue growth of 12.6%. Four peers grew more slowly than GK Energy and 14 grew faster than the company. For profit, 14 of 19 peers reported higher profit.
| GK Energy revenue growth (YoY) | +1.1% |
|---|---|
| Median of 18 other Civil Construction companies | +12.6% |
| Companies with slower revenue growth than GK Energy | 4 of 18 |
| Companies with faster revenue growth than GK Energy | 14 of 18 |
| Companies whose net profit rose | 14 of 19 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was GK Energy's revenue in Q2 FY27?
Revenue from operations was ₹408.65 crore, up 1.1% from ₹404.05 crore in Q2 FY26 (consolidated).
Did GK Energy make a profit in Q2 FY27?
Yes. Net profit was ₹49.37 crore, against a net profit of ₹46.91 crore in Q2 FY26.
What was GK Energy's EPS in Q2 FY27?
Basic earnings per share were ₹2.43, against ₹2.31 in Q2 FY26.
How did GK Energy shares react to the Q2 FY27 results?
On the reaction day the stock moved −5.0% from the previous close; the median Civil Construction stock moved +0.7%.
When did GK Energy announce its Q2 FY27 results?
On 29 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consideration Of The Un-Audited Standalone And Consolidated Financial Results For The Quarter And Half Year Ended September, 2026 And Other Business Matters. (BSE, 26 October 2026) · PDF
- Outcome of Board Meeting (NSE, 29 October 2026) · PDF
- General Updates (NSE, 29 October 2026) · PDF
- The earnings call (3 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.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.