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Hawa Engineers Q2 FY27 results: net profit up 7.5% to ₹0.57 crore, revenue down 33.6%
Hawa Engineers Ltd reported standalone revenue of ₹20.93 crore in Q2 FY27, down 33.6% from a year earlier. EBITDA was ₹1.48 crore, while the EBITDA margin rose to 7.1% from 5.1%; net profit increased to ₹0.57 crore, although basic EPS fell to ₹1.62.
Key points
- Q2 FY27 revenue was ₹20.93 crore, down 33.6% from ₹31.53 crore in Q2 FY26.
- EBITDA was ₹1.48 crore, down 8.6%, while the EBITDA margin rose 2.0 percentage points to 7.1%.
- Net profit was ₹0.57 crore, up 7.5%, and basic EPS was ₹1.62 against 10.0 in the year-ago quarter.
- In H1 FY27, revenue was ₹44.69 crore, down 20.9%, while PBT rose 12.5% to ₹1.53 crore.
- Total assets were ₹66.15 crore on 30 September 2026, against ₹71.82 crore on 31 March 2026.
How did Hawa Engineers perform in Q2 FY27?
Hawa Engineers reported standalone revenue of ₹20.93 crore in Q2 FY27, down 33.6% from ₹31.53 crore in Q2 FY26. Total expenses fell to ₹20.29 crore from ₹30.85 crore, while EBITDA declined to ₹1.48 crore from ₹1.62 crore. The EBITDA margin rose 2.0 percentage points to 7.1% from 5.1%.
Against Q1 FY27, revenue fell 11.8% to ₹20.93 crore from ₹23.74 crore. EBITDA declined 16.4% to ₹1.48 crore from ₹1.77 crore, and the margin fell 0.4 percentage points to 7.1% from 7.5%.
Profit before tax was ₹0.82 crore in Q2 FY27, up 22.4% from ₹0.67 crore a year earlier but down 8.9% from ₹0.90 crore in the previous quarter. Net profit was ₹0.57 crore, up 7.5% year on year but down 12.3% sequentially, while basic EPS was ₹1.62 against 10.0 and ₹1.84, respectively. These are standalone figures; no consolidated figures were provided.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 20.93 | 23.74 | 31.53 | −33.6% | −11.8% |
| Other income | 0.19 | 0.15 | −0.01 | +26.7% | |
| Total expenses | 20.29 | 22.99 | 30.85 | −34.2% | −11.7% |
| EBITDA | 1.48 | 1.77 | 1.62 | −8.6% | −16.4% |
| EBITDA margin | 7.1% | 7.5% | 5.1% | +2.0 pp | −0.4 pp |
| Profit before tax | 0.82 | 0.90 | 0.67 | +22.4% | −8.9% |
| Tax | 0.25 | 0.25 | 0.14 | +78.6% | +0.0% |
| Net profit | 0.57 | 0.65 | 0.53 | +7.5% | −12.3% |
| EPS (₹) | 1.62 | 1.84 | 10.00 | −83.8% | −12.0% |
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 Hawa Engineers' costs and profit?
Cost of materials fell to ₹14.68 crore in Q2 FY27 from ₹22.17 crore in Q2 FY26, a reduction of ₹7.49 crore, while total expenses declined by ₹10.56 crore. Other expenses fell by ₹1.97 crore to ₹3.24 crore, and depreciation declined by ₹0.09 crore to ₹0.14 crore. Finance costs were unchanged at ₹0.71 crore, while employee cost rose by ₹0.11 crore to ₹1.17 crore.
Other income increased by ₹0.20 crore to ₹0.19 crore from ₹0.01 crore in the year-ago quarter. PBT rose by ₹0.15 crore to ₹0.82 crore, while tax increased by ₹0.11 crore to ₹0.25 crore. Net profit consequently rose by ₹0.04 crore to ₹0.57 crore. There was no exceptional item in either quarter. The filing did not state why the cost and income changes occurred.
Sequentially, total expenses fell by ₹2.70 crore to ₹20.29 crore from ₹22.99 crore in Q1 FY27. The reduction came from lower cost of materials and finance costs, while employee cost and other expenses increased. Other income rose by ₹0.04 crore to ₹0.19 crore, tax was unchanged at ₹0.25 crore, and there was no exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 14.68 | 22.17 | −7.49 | −33.8% |
| Employee cost | 1.17 | 1.06 | +0.11 | +10.4% |
| Finance costs | 0.71 | 0.71 | 0 | +0.0% |
| Depreciation | 0.14 | 0.23 | −0.09 | −39.1% |
| Other expenses | 3.24 | 5.21 | −1.97 | −37.8% |
| Total expenses | 20.29 | 30.85 | −10.56 | −34.2% |
| Other income | 0.19 | −0.01 | +0.20 | |
| Tax | 0.25 | 0.14 | +0.11 | +78.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Hawa Engineers reported standalone revenue of ₹44.69 crore, down 20.9% from ₹56.52 crore in H1 FY26. Total income fell 20.4% to ₹45.06 crore from ₹56.63 crore. PBT increased 12.5% to ₹1.53 crore from ₹1.36 crore, while net profit declined 2.8% to ₹1.03 crore from ₹1.06 crore.
Basic EPS for H1 FY27 was ₹2.92, down 70.8% from 10.0 in H1 FY26. The results covered the six months ended 30 September 2026 and remained unaudited and standalone.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 44.69 | 56.52 | −20.9% |
| Profit before tax | 1.53 | 1.36 | +12.5% |
| Net profit | 1.03 | 1.06 | −2.8% |
| EPS (₹) | 2.92 | 10.00 | −70.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹66.15 crore on 30 September 2026, down from ₹71.82 crore on 31 March 2026. Total equity was ₹23.43 crore against ₹22.4 crore, while borrowings declined to ₹21.58 crore from ₹21.79 crore. Cash and cash equivalents fell to ₹14.6 crore from ₹16.78 crore.
Inventories decreased to ₹17.75 crore from ₹18.93 crore, trade receivables fell to ₹20.13 crore from ₹25.26 crore, and trade payables declined to ₹12.99 crore from ₹16.43 crore. The balance-sheet figures were unaudited at 30 September 2026, compared with audited figures at 31 March 2026.
In H1 FY27, operating cash flow was negative ₹0.78 crore, compared with negative ₹1.72 crore in H1 FY26. Investing cash flow was positive ₹0.35 crore against negative ₹0.09 crore, while financing cash flow was negative ₹1.75 crore against positive ₹4.17 crore. Capital expenditure was ₹0.03 crore compared with ₹0.11 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 66.15 | 71.82 |
| Total equity | 23.43 | 22.40 |
| Borrowings | 21.58 | 21.79 |
| Cash and equivalents | 14.60 | 16.78 |
| Inventories | 17.75 | 18.93 |
| Trade receivables | 20.13 | 25.26 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −0.78 | −1.72 |
| Cash from investing | 0.35 | −0.09 |
| Cash from financing | −1.75 | 4.17 |
| Capital expenditure | 0.03 | 0.11 |
Source: Company's results filing (XBRL).
How has Hawa Engineers done over the last 8 quarters?
Revenue reached its highest level in the reported series at ₹32.02 crore in Q4 FY25 and its lowest at ₹20.93 crore in Q2 FY27. It has fallen in each of the last two quarters, from ₹26.13 crore in Q4 FY26 to ₹23.74 crore in Q1 FY27 and then ₹20.93 crore in Q2 FY27.
Net profit reached a high of ₹0.69 crore in Q3 FY26 and a low of ₹0.18 crore in Q3 FY25. It was ₹0.57 crore in Q2 FY27 after ₹0.65 crore in Q1 FY27. The EBITDA margin peaked at 8.9% in Q3 FY26 and bottomed at 4.5% in Q4 FY25; it eased to 7.1% in Q2 FY27. Profit rose year on year in each of the last four quarters.
How did Hawa Engineers shares react?
The results appeared after market hours. From the price when the filing appeared, Hawa Engineers rose 8.6% after 5 minutes, 15 minutes and 30 minutes. On the reaction day, the stock fell 5.6% from its previous close, compared with a 0.5% fall for the Industrial Products industry median.
Earlier reaction-day moves were mixed: the stock fell 2.4% on 20 July 2026 and 1.1% on 21 May, rose 9.1% on 10 January and fell 7.5% on 10 November 2025. Other recorded moves were a 4.5% fall on 22 July 2025, a 0.8% fall on 20 May, a 19.2% rise on 8 October 2024 and a 1.3% rise on 19 July.
| After the filing | Stock | Industrial Products median |
|---|---|---|
| 5 minutes | +8.6% | |
| 15 minutes | +8.6% | |
| 30 minutes | +8.6% | |
| Reaction day | −5.6% | −0.5% |
| Next day | −2.0% | +0.6% |
| 5 days | −2.5% | −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 |
|---|---|
| 20 July 2026 | −2.4% |
| 21 May 2026 | −1.1% |
| 10 January 2026 | +9.1% |
| 10 November 2025 | −7.5% |
| 22 July 2025 | −4.5% |
| 20 May 2025 | −0.8% |
| 8 October 2024 | +19.2% |
| 19 July 2024 | +1.3% |
Source: MarketPing price-reaction measurement.
How did other Industrial Products companies do?
Among 38 Industrial Products companies compared for Q2 FY27 as of 4 November 2026, the median revenue growth was 35.8%. One peer grew revenue more slowly than Hawa Engineers, while 37 grew faster than the company. Of 32 peers with comparable profit data, 23 reported higher profit.
| Hawa Engineers revenue growth (YoY) | −33.6% |
|---|---|
| Median of 38 other Industrial Products companies | +35.8% |
| Companies with slower revenue growth than Hawa Engineers | 1 of 38 |
| Companies with faster revenue growth than Hawa Engineers | 37 of 38 |
| Companies whose net profit rose | 23 of 32 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Hawa Engineers' revenue in Q2 FY27?
Revenue from operations was ₹20.93 crore, down 33.6% from ₹31.53 crore in Q2 FY26 (standalone).
Did Hawa Engineers make a profit in Q2 FY27?
Yes. Net profit was ₹0.57 crore, against a net profit of ₹0.53 crore in Q2 FY26.
What was Hawa Engineers' EPS in Q2 FY27?
Basic earnings per share were ₹1.62, against ₹10.00 in Q2 FY26.
How did Hawa Engineers shares react to the Q2 FY27 results?
On the reaction day the stock moved −5.6% from the previous close; the median Industrial Products stock moved −0.5%.
When did Hawa Engineers announce its Q2 FY27 results?
On 3 October 2026, in a filing to the BSE.
Sources
- Board Meeting Outcome for Outcome Of Board Meeting (BSE, 3 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.
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