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Honeywell Automation India Q2 FY27 results: net profit up 11.9% to ₹133.70 crore, revenue up 6.5%
Honeywell Automation India Limited reported standalone Q2 FY27 revenue of ₹1,224 crore, up 6.5% from Q2 FY26, while EBITDA rose 17.8% and net profit increased 11.9%. Sequentially, revenue was higher but EBITDA and net profit declined, with the EBITDA margin falling to 12.7% from 14.3% in Q1 FY27.
Key points
- Revenue was ₹1,224 crore in Q2 FY27, up ₹74.50 crore or 6.5% from Q2 FY26.
- EBITDA was ₹155 crore, up ₹23.40 crore or 17.8% year on year, while the margin rose 1.3 percentage points to 12.7%.
- Net profit was ₹133.70 crore, up ₹14.20 crore or 11.9% from Q2 FY26; basic EPS was ₹151.17.
- Against Q1 FY27, revenue rose ₹19.50 crore or 1.6%, while net profit fell ₹17 crore or 11.3%.
- H1 FY27 revenue was ₹2,428.3 crore, up 4.1%, and net profit was ₹284.4 crore, up 16.5%, from H1 FY26.
How did Honeywell Automation India perform in Q2 FY27?
On a standalone basis, Honeywell Automation India reported Q2 FY27 revenue of ₹1,224 crore for July–September 2026, up ₹74.50 crore or 6.5% from ₹1,149 crore in Q2 FY26. Total income rose ₹72.30 crore or 6.1% to ₹1,265.9 crore. The figures were approved by the board as unaudited standalone results for the quarter and half year ended 30 September 2026.
EBITDA rose ₹23.40 crore or 17.8% to ₹155 crore from ₹131.60 crore, and the EBITDA margin increased 1.3 percentage points to 12.7% from 11.4%. Profit before tax rose ₹20.10 crore or 12.5% to ₹180.80 crore. Net profit increased ₹14.20 crore or 11.9% to ₹133.70 crore, while basic EPS was ₹151.17.
Compared with Q1 FY27, revenue was up ₹19.50 crore or 1.6% at ₹1,224 crore. EBITDA fell ₹17.50 crore or 10.1% to ₹155 crore, and its margin declined 1.6 percentage points from 14.3%. Net profit was down ₹17 crore or 11.3% at ₹133.70 crore, and basic EPS fell ₹19.28 to ₹151.17.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,224 | 1,204 | 1,149 | +6.5% | +1.6% |
| Other income | 42 | 46.40 | 44.20 | −5.0% | −9.5% |
| Total expenses | 1,085 | 1,048 | 1,033 | +5.1% | +3.6% |
| EBITDA | 155 | 172.50 | 131.60 | +17.8% | −10.1% |
| EBITDA margin | 12.7% | 14.3% | 11.4% | +1.3 pp | −1.6 pp |
| Profit before tax | 180.80 | 203.10 | 160.70 | +12.5% | −11.0% |
| Tax | 47.10 | 52.40 | 41.20 | +14.3% | −10.1% |
| Net profit | 133.70 | 150.70 | 119.50 | +11.9% | −11.3% |
| EPS (₹) | 151.17 | 170.45 | 135.13 | +11.9% | −11.3% |
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 Honeywell Automation India's costs and profit?
Total expenses increased ₹52.20 crore or 5.1% from Q2 FY26 to ₹1,085 crore. Cost of materials consumed and other direct costs rose ₹36.60 crore or 6.6% to ₹593.90 crore, while employee benefit expense increased ₹25.60 crore or 12.7% to ₹227.20 crore. Depreciation and amortisation was higher by ₹1.60 crore at ₹14.50 crore.
Other expenses increased ₹18.90 crore or 20.3% to ₹111.90 crore from ₹93 crore, while finance costs declined ₹0.50 crore or 22.7% to ₹1.70 crore. Other income fell ₹2.20 crore or 5.0% to ₹42 crore. The filing did not state reasons for these movements.
There was no exceptional item in Q2 FY27. Tax expense rose ₹5.90 crore or 14.3% to ₹47.10 crore from ₹41.20 crore. The filing did not state reasons for the changes in costs, other income or tax.
Against Q1 FY27, total expenses increased ₹37.40 crore or 3.6%, mainly reflecting higher other expenses of ₹23.50 crore and cost of materials of ₹9 crore. Employee cost fell ₹5.60 crore, finance costs fell ₹0.60 crore and depreciation rose ₹1 crore. Other income fell ₹4.40 crore and tax expense fell ₹5.30 crore; the filing did not state reasons for these changes.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 593.90 | 557.30 | +36.60 | +6.6% |
| Employee cost | 227.20 | 201.60 | +25.60 | +12.7% |
| Finance costs | 1.70 | 2.20 | −0.50 | −22.7% |
| Depreciation | 14.50 | 12.90 | +1.60 | +12.4% |
| Other expenses | 111.90 | 93 | +18.90 | +20.3% |
| Total expenses | 1,085 | 1,033 | +52.20 | +5.1% |
| Other income | 42 | 44.20 | −2.20 | −5.0% |
| Tax | 47.10 | 41.20 | +5.90 | +14.3% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, standalone revenue rose 4.1% to ₹2,428.3 crore from ₹2,332.5 crore in H1 FY26. Total income increased 4.1% to ₹2,516.7 crore from ₹2,418.5 crore.
Profit before tax rose 16.8% to ₹383.9 crore from ₹328.7 crore, while net profit increased 16.5% to ₹284.4 crore from ₹244.1 crore. Basic EPS was ₹321.67, up ₹45.59 or 16.5% from ₹276.08. There was no exceptional item in H1 FY27.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 2,428 | 2,332 | +4.1% |
| Profit before tax | 383.90 | 328.70 | +16.8% |
| Net profit | 284.40 | 244.10 | +16.5% |
| EPS (₹) | 321.67 | 276.08 | +16.5% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹6,323.5 crore against ₹6,229 crore at 31 March 2026, and total equity was ₹4,663.3 crore against ₹4,462.7 crore. The company had no borrowings at either balance-sheet date. Cash and cash equivalents were ₹420 crore against ₹564.7 crore.
Inventories increased to ₹264.7 crore from ₹216.8 crore, while trade receivables declined to ₹1,074.1 crore from ₹1,160.9 crore. Trade payables were ₹1,009.4 crore against ₹1,025.5 crore. H1 FY27 operating cash flow was ₹42.5 crore, compared with ₹241.8 crore in H1 FY26.
H1 FY27 investing cash flow was negative ₹77.7 crore against negative ₹215.7 crore, while financing cash flow was negative ₹111.8 crore against negative ₹104.3 crore. Capital expenditure was ₹16.6 crore in H1 FY27, compared with ₹9.3 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 6,324 | 6,229 |
| Total equity | 4,663 | 4,463 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 420 | 564.70 |
| Inventories | 264.70 | 216.80 |
| Trade receivables | 1,074 | 1,161 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 42.50 | 241.80 |
| Cash from investing | −77.70 | −215.70 |
| Cash from financing | −111.80 | −104.30 |
| Capital expenditure | 16.60 | 9.30 |
Source: Company's results filing (XBRL).
How has Honeywell Automation India done over the last 8 quarters?
Revenue rose year on year in each of the last eight quarters. In the latest sequence, revenue increased from ₹1,149.4 crore in Q2 FY26 to ₹1,223.9 crore in Q2 FY27, and the current quarter was the highest revenue quarter in the eight-quarter series.
Net profit bottomed at ₹119.5 crore in Q2 FY26 and reached a peak of ₹159.7 crore in Q4 FY26. It fell to ₹150.7 crore in Q1 FY27 and then ₹133.7 crore in Q2 FY27. EBITDA margin bottomed at 11.4% in Q2 FY26, peaked at 15.7% in Q4 FY26 and eased to 12.7% in Q2 FY27.
The latest trend therefore combined higher revenue with lower profit than the preceding two quarters. Honeywell Automation India’s profit rose year on year in each of the last three quarters, while revenue had risen year on year for eight consecutive quarters.
What else did the company announce?
The board approved the unaudited standalone financial results for Q2 FY27 and the half year ended 30 September 2026 on 27 October 2026. The statutory auditors issued a limited review report, stating that nothing had come to their attention indicating that the required information had not been disclosed or that the statement contained a material misstatement.
In a separate same-day filing, the board appointed Pamela Banerjee as Internal Auditor with effect from 27 October 2026, following recommendations from the Nomination and Remuneration Committee and the Audit Committee. The filing stated that she also became Senior Management Personnel and had joined Honeywell in September 2026.
How did Honeywell Automation India shares react?
After the filing appeared, the stock fell 2.7% within 5 minutes, 2.8% within 15 minutes and 2.3% within 30 minutes. From the previous close to the close of the first session able to trade on the news, it fell 2.7%.
By the next day's close, the stock was down 3.5% from its pre-results close. The Industrial Products sector median rose 0.2% on the reaction day and 0.5% by the next close, leaving Honeywell Automation India 2.9 percentage points behind on the reaction day and 4.0 percentage points behind by the next close.
Earlier reaction-day moves were mixed: the stock rose 7.1% on 29 July 2026 and 15.4% on 20 May 2026, fell 0.4% on 2 February 2026 and 1.4% on 5 November 2025, and fell 2.7% on 1 August 2025. No five-day reaction figure was given.
| After the filing | Stock | Industrial Products median |
|---|---|---|
| 5 minutes | −2.7% | |
| 15 minutes | −2.8% | |
| 30 minutes | −2.3% | |
| Reaction day | −2.7% | +0.2% |
| Next day | −3.5% | +0.5% |
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 |
|---|---|
| 29 July 2026 | +7.1% |
| 20 May 2026 | +15.4% |
| 2 February 2026 | −0.4% |
| 5 November 2025 | −1.4% |
| 1 August 2025 | −2.7% |
| 13 May 2025 | +0.9% |
| 7 February 2025 | −3.5% |
| 29 October 2024 | −7.9% |
Source: MarketPing price-reaction measurement.
How did other Industrial Products companies do?
Among 38 other Industrial Products companies that had filed for the quarter, the median revenue growth was 35.8%. Honeywell Automation India had 30 peers growing faster than the company and eight peers growing slower than the company.
Of the 32 peers for which profit was compared, 23 reported higher profit. The peer comparison was based on filings available as of 4 November 2026.
| Honeywell Automation India revenue growth (YoY) | +6.5% |
|---|---|
| Median of 38 other Industrial Products companies | +35.8% |
| Companies with slower revenue growth than Honeywell Automation India | 8 of 38 |
| Companies with faster revenue growth than Honeywell Automation India | 30 of 38 |
| Companies whose net profit rose | 23 of 32 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Honeywell Automation India's revenue in Q2 FY27?
Revenue from operations was ₹1,224 crore, up 6.5% from ₹1,149 crore in Q2 FY26 (standalone).
Did Honeywell Automation India make a profit in Q2 FY27?
Yes. Net profit was ₹133.70 crore, against a net profit of ₹119.50 crore in Q2 FY26.
What was Honeywell Automation India's EPS in Q2 FY27?
Basic earnings per share were ₹151.17, against ₹135.13 in Q2 FY26.
How did Honeywell Automation India shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.7% from the previous close; the median Industrial Products stock moved +0.2%.
When did Honeywell Automation India announce its Q2 FY27 results?
On 27 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 1 October 2026) · PDF
- Results For The Second Quarter And Half Year Ended Sept 30, 2026 (BSE, 27 October 2026) · PDF
- Board Meeting Outcome for Results For The Second Quarter And Half Year Ended Sept 30, 2026 (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.
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