Kanohar Electricals Q2 FY27 results: net profit ₹53.87 crore

How did Kanohar Electricals perform in Q2 FY27?

Kanohar Electricals reported standalone revenue of ₹208.59 crore for Q2 FY27, compared with ₹137.08 crore in Q1 FY27, an increase of ₹71.51 crore or 52.2%. Total income was ₹211.20 crore, up 51.9% from ₹139.00 crore in the previous quarter. EBITDA was ₹73.06 crore, up 88.5% from ₹38.75 crore, and the EBITDA margin increased 6.7 percentage points to 35.0% from 28.3%.

Profit before tax was ₹72.27 crore, up 96.2% from ₹36.84 crore in Q1 FY27, while profit after tax was ₹53.87 crore, up 97.0% from ₹27.34 crore. Basic EPS was ₹7.14, compared with ₹3.67 in the previous quarter. No exceptional item was reported. The filing presents standalone results, while the company’s earlier investor presentation used consolidated figures for Q1 FY27; a year-ago quarterly comparison was not provided in the supplied results facts.

The company’s 2 November 2026 filing said that the board approved the unaudited standalone financial results for the quarter and half year ended 30 September 2026. The statutory auditors’ limited review report stated that nothing had come to their attention causing them to believe that the statement did not disclose the information required under the listing regulations or contained a material misstatement.

What do the balance sheet and cash flow show?

As on 30 September 2026, Kanohar Electricals reported total assets of ₹1,024.69 crore and total equity of ₹738.84 crore. Borrowings were ₹28.08 crore and cash and cash equivalents were ₹26.51 crore. Inventories stood at ₹196.82 crore, trade receivables at ₹141.56 crore and trade payables at ₹130.29 crore. The supplied results facts did not include a comparable balance sheet for the previous date, so the direction of the changes cannot be stated.

What else did the company announce?

The company filed the outcome of its board meeting on 2 November 2026, stating that the board approved the unaudited standalone financial results for the quarter and half year ended 30 September 2026 and took the statutory auditors’ limited review report on record. The same-day filings also included the Q1 FY27 investor presentation and press release, which reported revenue of ₹137 crore, PAT of ₹27 crore and an order book of ₹2,026 crore as on 30 June 2026.

The Q1 FY27 investor presentation stated that Kanohar had added incremental orders worth ₹867.3 crore as on 30 September 2026, including a large order of ₹250 crore and above from a central public sector undertaking. It also stated that the order book was expected to be executed over the next 18–24 months. No dividend decision or new fund-raising announcement was included in the supplied same-day filings. The earlier board filing on 6 October 2026 noted approval of a revised policy for determining material events or information.

What did Kanohar Electricals' management say?

Management targeted FY27 revenue of approximately ₹950 crore with an EBITDA margin profile similar to FY26. It said capacity was sufficient through FY28 and that an 18,000 MVA brownfield expansion was targeted to come online by FY29. Management also said the net working capital cycle was expected to remain at 110–120 days and that the order book was to be executed over 18–24 months.

Management identified supply-chain and raw-material sourcing as the key risk, which it said it was managing through advance procurement planning. It also referred to a structural 110–120 day net working capital cycle arising from large transformer lead times. The call was the company’s first analyst engagement after listing, according to the management notes, and the supplied material did not record any analyst questions or answers.

Whole-time Director Abhishek Singhal said the company had completed more than 200 successful short-circuit tests at a government laboratory and was among the few manufacturers in India certified for 500 MVA 400 kV transformers. He also said Kanohar was the first Indian company to receive RDSO approval for a 100 MVA 220 kV Scott-connected transformer and one of two companies certified at that rating.

How did Kanohar Electricals shares react?

Kanohar Electricals’ shares moved after the results filing. The stock was down 0.7% after five minutes, up 5.0% after 15 minutes and up 4.0% after 30 minutes. On the reaction day, the stock was up 13.0% from its pre-results close. By the next day’s close, it was up 22.1% from that same pre-results close, and by the fifth session it was up 9.6%.

The nearest market benchmark was the Nifty Microcap 250. The benchmark was down 0.2% on the reaction day, down 3.0% by the next day’s close and down 1.0% by the fifth session. An industry median move was not provided, so a comparison with other stocks in the sector cannot be stated. The supplied past-results history contained no earlier reaction-day moves for Kanohar Electricals.