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Jyoti Q2 FY27 results: net profit down 32.7% to ₹4.35 crore, revenue down 6.4%
Jyoti Ltd reported consolidated revenue of ₹66.40 crore in Q2 FY27, down 6.4% from Q2 FY26 and 11.3% from Q1 FY27. EBITDA rose to ₹7.69 crore, but a net profit of ₹4.35 crore was down 32.7% year on year, with basic EPS of ₹1.88.
Key points
- Consolidated Q2 FY27 revenue was ₹66.40 crore, down 6.4% from ₹70.97 crore in Q2 FY26 and 11.3% from ₹74.90 crore in Q1 FY27.
- EBITDA was ₹7.69 crore, up 8.8% year on year and 16.0% from the previous quarter; EBITDA margin rose to 11.6%.
- Net profit was ₹4.35 crore, down ₹2.11 crore, or 32.7%, from Q2 FY26; basic EPS fell to ₹1.88 from ₹2.80.
- The quarter included an exceptional charge of ₹0.93 crore, against no exceptional item in Q2 FY26; tax expense was ₹1.60 crore.
- For H1 FY27, revenue rose 0.9% to ₹141.31 crore, while net profit fell 23.2% to ₹9.58 crore.
How did Jyoti perform in Q2 FY27?
On the consolidated basis, Jyoti reported revenue of ₹66.40 crore for Q2 FY27, down 6.4% from ₹70.97 crore in Q2 FY26 and down 11.3% from ₹74.90 crore in Q1 FY27. Total income was ₹67.13 crore, compared with ₹71.53 crore a year earlier and ₹75.64 crore in the previous quarter.
EBITDA rose to ₹7.69 crore from ₹7.07 crore in Q2 FY26 and ₹6.63 crore in Q1 FY27. The EBITDA margin increased to 11.6% from 10.0% and 8.8%, respectively. Net profit was ₹4.35 crore, down from ₹6.46 crore and ₹5.23 crore, while basic EPS fell to ₹1.88 from ₹2.80 and ₹2.26.
On the standalone basis, Q2 FY27 revenue was ₹66.40 crore, down 6.4% year on year, while profit before exceptional items and tax was ₹6.62 crore. The board approved the standalone and consolidated unaudited results for the quarter and half-year ended 30 September 2026 on 4 November 2026, along with the statutory auditors’ limited review reports.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 66.40 | 74.90 | 70.97 | −6.4% | −11.3% |
| Other income | 0.73 | 0.73 | 0.56 | +30.4% | +0.0% |
| Total expenses | 59.81 | 69.45 | 64.91 | −7.9% | −13.9% |
| EBITDA | 7.69 | 6.63 | 7.07 | +8.8% | +16.0% |
| EBITDA margin | 11.6% | 8.8% | 10.0% | +1.6 pp | +2.8 pp |
| Profit before tax | 6.39 | 6.81 | 6.62 | −3.5% | −6.2% |
| Tax | 1.60 | 1.70 | 0 | −5.9% | |
| Net profit | 4.35 | 5.23 | 6.46 | −32.7% | −16.8% |
| EPS (₹) | 1.88 | 2.26 | 2.80 | −32.9% | −16.8% |
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 Jyoti's costs and profit?
Total expenses fell to ₹59.81 crore from ₹64.91 crore in Q2 FY26, down ₹5.10 crore. Cost of materials consumed declined by ₹6.32 crore to ₹43.09 crore and other expenses fell by ₹2.21 crore to ₹4.22 crore. Employee cost rose by ₹0.49 crore to ₹9.43 crore, while finance costs increased by ₹0.10 crore to ₹0.22 crore; depreciation was unchanged at ₹0.88 crore.
Other income rose by ₹0.17 crore to ₹0.73 crore from ₹0.56 crore, and EBITDA increased by ₹0.62 crore to ₹7.69 crore. The EBITDA margin expanded by 1.6 percentage points to 11.6%. The filing does not state a business reason for the changes in revenue or costs.
Profit before tax was ₹6.39 crore, down ₹0.23 crore from ₹6.62 crore in Q2 FY26. The quarter included an exceptional charge of ₹0.93 crore, against no exceptional item in the year-ago quarter, and tax expense of ₹1.60 crore was recorded. Net profit consequently fell by ₹2.11 crore to ₹4.35 crore, while basic EPS declined by ₹0.92 to ₹1.88.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 43.09 | 49.41 | −6.32 | −12.8% |
| Employee cost | 9.43 | 8.94 | +0.49 | +5.5% |
| Finance costs | 0.22 | 0.12 | +0.10 | +83.3% |
| Depreciation | 0.88 | 0.88 | 0 | +0.0% |
| Other expenses | 4.22 | 6.43 | −2.21 | −34.4% |
| Total expenses | 59.81 | 64.91 | −5.10 | −7.9% |
| Other income | 0.73 | 0.56 | +0.17 | +30.4% |
| Tax | 1.60 | 0 | +1.60 | |
| Exceptional items | −0.93 (charge) | none |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, Jyoti reported consolidated revenue of ₹141.31 crore, up ₹1.22 crore, or 0.9%, from ₹140.09 crore in H1 FY26. Total income declined by ₹0.56 crore to ₹142.77 crore, while profit before tax rose by ₹0.76 crore to ₹13.21 crore.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 141.31 | 140.09 | +0.9% |
| Profit before tax | 13.21 | 12.45 | +6.1% |
| Net profit | 9.58 | 12.48 | −23.2% |
| EPS (₹) | 4.15 | 5.40 | −23.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹315.09 crore, down from ₹325.39 crore at 31 March 2026. Total equity remained negative but improved to negative ₹11.39 crore from negative ₹21.04 crore. Borrowings were unchanged at ₹209.25 crore, while cash and cash equivalents rose to ₹18.26 crore from ₹10.17 crore.
Inventories declined to ₹35.18 crore from ₹49.65 crore, trade receivables fell to ₹147.85 crore from ₹166.65 crore, and trade payables declined to ₹84.91 crore from ₹107.98 crore. For H1 FY27, operating cash flow was ₹8.36 crore, compared with ₹8.17 crore in H1 FY26.
Investing cash flow was ₹0.25 crore in H1 FY27, down from ₹1.87 crore in H1 FY26, while financing cash flow improved to negative ₹0.53 crore from negative ₹6.47 crore. Capital expenditure was ₹1.02 crore, compared with ₹1.19 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 315.09 | 325.39 |
| Total equity | −11.39 | −21.04 |
| Borrowings | 209.25 | 209.25 |
| Cash and equivalents | 18.26 | 10.17 |
| Inventories | 35.18 | 49.65 |
| Trade receivables | 147.85 | 166.65 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 8.36 | 8.17 |
| Cash from investing | 0.25 | 1.87 |
| Cash from financing | −0.53 | −6.47 |
| Capital expenditure | 1.02 | 1.19 |
Source: Company's results filing (XBRL).
How has Jyoti done over the last 8 quarters?
Revenue over the last eight quarters peaked at ₹108.10 crore in Q4 FY25 and bottomed at ₹51.91 crore in Q3 FY25. It fell from ₹83.31 crore in Q4 FY26 to ₹74.90 crore in Q1 FY27 and ₹66.40 crore in Q2 FY27.
Net profit peaked at ₹8.18 crore in Q4 FY25 and bottomed at ₹2.52 crore in Q3 FY26. It rose to ₹5.23 crore in Q1 FY27 before declining to ₹4.35 crore in Q2 FY27. The EBITDA margin reached 11.6% in Q2 FY27, the highest in the period shown, compared with 5.2% in Q3 FY26.
How did other Heavy Electrical Equipment companies do?
Among 14 other Heavy Electrical Equipment companies that had filed for the quarter, the median revenue growth was 24.9%. Jyoti’s revenue fell 6.4%, with 3 peers growing more slowly and 11 growing faster than the company.
Nine of the 14 peer companies reported higher profit. The peer comparison was recorded as of 5 November 2026.
| Jyoti revenue growth (YoY) | −6.4% |
|---|---|
| Median of 14 other Heavy Electrical Equipment companies | +24.9% |
| Companies with slower revenue growth than Jyoti | 3 of 14 |
| Companies with faster revenue growth than Jyoti | 11 of 14 |
| Companies whose net profit rose | 9 of 14 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Jyoti's revenue in Q2 FY27?
Revenue from operations was ₹66.40 crore, down 6.4% from ₹70.97 crore in Q2 FY26 (consolidated).
Did Jyoti make a profit in Q2 FY27?
Yes. Net profit was ₹4.35 crore, against a net profit of ₹6.46 crore in Q2 FY26.
What was Jyoti's EPS in Q2 FY27?
Basic earnings per share were ₹1.88, against ₹2.80 in Q2 FY26.
When did Jyoti announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Board Meeting Intimation For Consideration And Approval Of Unaudited Financial Results For The Quarter And Half Year Ended 30Th September, 2026. (BSE, 28 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Dated 4Th November, 2026 (BSE, 4 November 2026) · PDF
- Unaudited Financial Results (BSE, 4 November 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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