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Jyoti Structures Q2 FY27 results: net profit up 58.5% to ₹15.41 crore, revenue up 61.9%
Jyoti Structures Limited reported consolidated revenue of ₹243.84 crore in Q2 FY27, up 61.9% from ₹150.60 crore in Q2 FY26, while net profit rose 58.5% to ₹15.41 crore. EBITDA increased 98.3% to ₹17.43 crore and the margin expanded to 7.1% from 5.8%, although both revenue and profit were lower than in Q1 FY27.
Key points
- Consolidated revenue was ₹243.84 crore in Q2 FY27, up 61.9% year on year but down 3.0% from Q1 FY27.
- EBITDA rose to ₹17.43 crore from ₹8.79 crore, while the margin increased to 7.1% from 5.8%.
- Net profit was ₹15.41 crore, up 58.5% from ₹9.72 crore but down 20.8% from ₹19.46 crore.
- Basic EPS was ₹0.13, against ₹0.08 in Q2 FY26 and ₹0.16 in Q1 FY27.
- For H1 FY27, revenue was ₹495.3 crore and net profit was ₹34.87 crore.
How did Jyoti Structures perform in Q2 FY27?
On the consolidated basis, Jyoti Structures reported revenue of ₹243.84 crore for Q2 FY27, compared with ₹150.60 crore in Q2 FY26 and ₹251.46 crore in Q1 FY27. Total income was ₹248.57 crore, up 60.2% from the year-ago quarter but down 2.6% sequentially. EBITDA was ₹17.43 crore, compared with ₹8.79 crore a year earlier and ₹21.25 crore in the previous quarter.
The consolidated EBITDA margin was 7.1%, compared with 5.8% in Q2 FY26 and 8.5% in Q1 FY27. Profit before tax was ₹15.57 crore, against ₹10.17 crore and ₹19.27 crore, respectively, while net profit was ₹15.41 crore, compared with ₹9.72 crore and ₹19.46 crore.
Basic EPS was ₹0.13 in Q2 FY27, compared with ₹0.08 in Q2 FY26 and ₹0.16 in Q1 FY27. On the standalone basis, revenue was ₹243.84 crore and net profit was ₹15.37 crore, while profit before tax was ₹9.72 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 243.84 | 251.46 | 150.60 | +61.9% | −3.0% |
| Other income | 4.73 | 3.72 | 4.61 | +2.6% | +27.2% |
| Total expenses | 233 | 235.91 | 145.04 | +60.6% | −1.2% |
| EBITDA | 17.43 | 21.25 | 8.79 | +98.3% | −18.0% |
| EBITDA margin | 7.1% | 8.5% | 5.8% | +1.3 pp | −1.4 pp |
| Profit before tax | 15.57 | 19.27 | 10.17 | +53.1% | −19.2% |
| Tax | 0.16 | −0.19 | 0.45 | −64.4% | |
| Net profit | 15.41 | 19.46 | 9.72 | +58.5% | −20.8% |
| EPS (₹) | 0.13 | 0.16 | 0.08 | +62.5% | −18.8% |
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 Structures' costs and profit?
Total expenses rose to ₹233 crore in Q2 FY27 from ₹145.04 crore in Q2 FY26, an increase of ₹87.96 crore. Cost of materials was ₹120.41 crore, up ₹29.40 crore, while employee cost was ₹23.23 crore, up ₹4.89 crore.
Other expenses increased by ₹26.44 crore to ₹80.32 crore, finance costs rose by ₹2.84 crore to ₹2.91 crore, and depreciation increased by ₹0.52 crore to ₹3.68 crore. Other income was ₹4.73 crore, up ₹0.12 crore from ₹4.61 crore. There was no exceptional item in either quarter.
Tax was ₹0.16 crore, down ₹0.29 crore from ₹0.45 crore in Q2 FY26. Profit before tax increased by ₹5.40 crore to ₹15.57 crore, and net profit rose by ₹5.69 crore to ₹15.41 crore. The filing attributed the standalone margin improvement to operating efficiencies and better cost control.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 120.41 | 91.01 | +29.40 | +32.3% |
| Employee cost | 23.23 | 18.34 | +4.89 | +26.7% |
| Finance costs | 2.91 | 0.07 | +2.84 | +4057.1% |
| Depreciation | 3.68 | 3.16 | +0.52 | +16.5% |
| Other expenses | 80.32 | 53.88 | +26.44 | +49.1% |
| Total expenses | 233 | 145.04 | +87.96 | +60.6% |
| Other income | 4.73 | 4.61 | +0.12 | +2.6% |
| Tax | 0.16 | 0.45 | −0.29 | −64.4% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Jyoti Structures reported consolidated revenue of ₹495.3 crore, up ₹188.54 crore or 61.5% from ₹306.76 crore in H1 FY26. Total income was ₹503.75 crore, up 58.6% from ₹317.61 crore.
Profit before tax rose 70.7% to ₹34.84 crore from ₹20.41 crore, while net profit increased 67.0% to ₹34.87 crore from ₹20.88 crore. Basic EPS for the first half was ₹0.29, compared with ₹0.18 in H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 495.30 | 306.76 | +61.5% |
| Profit before tax | 34.84 | 20.41 | +70.7% |
| Net profit | 34.87 | 20.88 | +67.0% |
| EPS (₹) | 0.29 | 0.18 | +61.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹3,089.04 crore, against ₹2,925.52 crore on 31 March 2026. Total equity declined to ₹433.25 crore from ₹474.61 crore, while borrowings rose to ₹2,174.86 crore from ₹2,083.75 crore. Cash was ₹128.2 crore, compared with ₹97.34 crore.
Trade receivables increased to ₹2,326.98 crore from ₹2,233.01 crore, inventories to ₹176.42 crore from ₹146.01 crore, and trade payables to ₹224.86 crore from ₹146.5 crore. Operating cash flow in H1 FY27 was ₹32.85 crore, compared with an outflow of ₹138.44 crore in H1 FY26.
Investing cash flow was an outflow of ₹8.78 crore, compared with ₹7.8 crore in the year-ago period, while financing cash flow was ₹6.78 crore against an outflow of ₹125.21 crore. Capital expenditure was ₹13.95 crore, compared with ₹17.99 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 3,089 | 2,926 |
| Total equity | 433.25 | 474.61 |
| Borrowings | 2,175 | 2,084 |
| Cash and equivalents | 128.20 | 97.34 |
| Inventories | 176.42 | 146.01 |
| Trade receivables | 2,327 | 2,233 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 32.85 | −138.44 |
| Cash from investing | −8.78 | −7.80 |
| Cash from financing | 6.78 | −125.21 |
| Capital expenditure | 13.95 | 17.99 |
Source: Company's results filing (XBRL).
How has Jyoti Structures done over the last 8 quarters?
Revenue increased year on year in each of the last eight quarters. It reached its highest level in the supplied series at ₹251.46 crore in Q1 FY27 before easing to ₹243.84 crore in Q2 FY27; the lowest was ₹137.35 crore in Q3 FY25.
Net profit also rose year on year in each of the last six quarters. It peaked at ₹19.46 crore in Q1 FY27 and fell to ₹15.41 crore in Q2 FY27, while the lowest quarterly profit was ₹9.72 crore in Q2 FY26. The EBITDA margin reached 8.5% in Q1 FY27, compared with 7.1% in Q2 FY27 and 4.4% in Q1 FY26.
What else did the company announce?
The board approved the standalone and consolidated unaudited financial results for the quarter and half year ended 30 September 2026. It also reconstituted the Nomination and Remuneration Committee, chaired by Dr. Govind Prasad Saha, and the Risk Management Committee, chaired by Mr. Raajeev B Batra.
In its same-day press release, the company reported an order book of ₹4,219 crore as of 30 September 2026 and new orders of ₹2,322 crore secured in FY 2026-27 to date. Management said growth was driven by a strong order book, improved execution capabilities and continued operational efficiencies. No dividend or fund-raising announcement was included in the supplied filings.
How did Jyoti Structures shares react?
The filing appeared after market hours. From the price when it was published, Jyoti Structures fell 1.5% after 5 minutes, 1.4% after 15 minutes and 2.1% after 30 minutes. On the reaction day, the stock closed 1.0% above its pre-results close, compared with a 2.9% median rise for the other Heavy Electrical Equipment stocks.
By the next day's close, the stock was up 4.4% from its pre-results close. The Heavy Electrical Equipment median was up 2.5% over the same closes, leaving Jyoti Structures 1.9 percentage points ahead of the industry median. Earlier reaction-day moves included declines of 3.6% on 22 July 2026 and 2.8% on 30 April 2026, following a 1.8% rise on 23 January 2026.
| After the filing | Stock | Heavy Electrical Equipment median |
|---|---|---|
| 5 minutes | −1.5% | |
| 15 minutes | −1.4% | |
| 30 minutes | −2.1% | |
| Reaction day | +1.0% | +2.9% |
| Next day | +4.4% | +2.5% |
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 |
|---|---|
| 22 July 2026 | −3.6% |
| 30 April 2026 | −2.8% |
| 23 January 2026 | +1.8% |
| 12 November 2025 | −4.0% |
| 14 August 2025 | −1.6% |
| 28 May 2025 | −6.4% |
| 3 February 2025 | +9.6% |
| 6 November 2024 | −4.8% |
Source: MarketPing price-reaction measurement.
How did other Heavy Electrical Equipment companies do?
Sixteen other Heavy Electrical Equipment companies had filed for the quarter by 6 November 2026. Their median revenue growth was 16.1%, while all 16 grew more slowly than Jyoti Structures and none grew faster, based on the company's 61.9% consolidated revenue growth.
Eight of the 16 peers reported higher profit, with profit compared for all 16 companies.
| Jyoti Structures revenue growth (YoY) | +61.9% |
|---|---|
| Median of 16 other Heavy Electrical Equipment companies | +16.1% |
| Companies with slower revenue growth than Jyoti Structures | 16 of 16 |
| Companies with faster revenue growth than Jyoti Structures | 0 of 16 |
| Companies whose net profit rose | 8 of 16 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Jyoti Structures' revenue in Q2 FY27?
Revenue from operations was ₹243.84 crore, up 61.9% from ₹150.60 crore in Q2 FY26 (consolidated).
Did Jyoti Structures make a profit in Q2 FY27?
Yes. Net profit was ₹15.41 crore, against a net profit of ₹9.72 crore in Q2 FY26.
What was Jyoti Structures' EPS in Q2 FY27?
Basic earnings per share were ₹0.13, against ₹0.08 in Q2 FY26.
How did Jyoti Structures shares react to the Q2 FY27 results?
On the reaction day the stock moved +1.0% from the previous close; the median Heavy Electrical Equipment stock moved +2.9%.
When did Jyoti Structures announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation For Board Meeting Dated November 03, 2026 (BSE, 29 October 2026) · PDF
- Results- Financial Results For September 30, 2026 (BSE, 3 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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