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KSH International Q2 FY27 results: net profit up 62.0% to ₹47.95 crore, revenue up 85.3%
KSH International Limited reported standalone Q2 FY27 revenue of ₹1,320 crore, up 85.3% from Q2 FY26, while EBITDA rose 94.6% to ₹89.71 crore. Net profit increased 62.0% to ₹47.95 crore and basic EPS rose to ₹7.08 from ₹5.21, while the EBITDA margin edged up 0.3 percentage points to 6.8%.
Key points
- Q2 FY27 revenue rose 85.3% year on year to ₹1,320 crore and was 13.3% higher than Q1 FY27.
- EBITDA increased 94.6% to ₹89.71 crore, with the margin rising 0.3 percentage points to 6.8% from Q2 FY26.
- Net profit rose 62.0% to ₹47.95 crore from ₹29.59 crore, while basic EPS increased to ₹7.08 from ₹5.21.
- H1 FY27 revenue was ₹2,483.89 crore, up 95.4% from H1 FY26, and net profit was ₹90.17 crore, up 72.5%.
How did KSH International perform in Q2 FY27?
KSH International reported standalone revenue of ₹1,320 crore in Q2 FY27, an increase of 85.3% from ₹712.15 crore in Q2 FY26 and 13.3% from ₹1,164 crore in Q1 FY27. EBITDA rose 94.6% year on year to ₹89.71 crore and 20.6% from ₹74.37 crore in the previous quarter, with the margin increasing 0.3 percentage points to 6.8%.
Profit before tax was ₹63.86 crore, up 74.8% from ₹36.53 crore a year earlier and 12.2% from ₹56.90 crore in Q1 FY27. Net profit rose 62.0% to ₹47.95 crore from ₹29.59 crore and increased 13.6% from ₹42.22 crore in the previous quarter. Basic EPS was ₹7.08, against ₹5.21 in Q2 FY26 and ₹6.23 in Q1 FY27.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,320 | 1,164 | 712.15 | +85.3% | +13.3% |
| Other income | 5.54 | 8.19 | 3.56 | +55.6% | −32.4% |
| Total expenses | 1,261 | 1,116 | 679.17 | +85.7% | +13.1% |
| EBITDA | 89.71 | 74.37 | 46.11 | +94.6% | +20.6% |
| EBITDA margin | 6.8% | 6.4% | 6.5% | +0.3 pp | +0.4 pp |
| Profit before tax | 63.86 | 56.90 | 36.53 | +74.8% | +12.2% |
| Tax | 15.90 | 14.68 | 6.94 | +129.1% | +8.3% |
| Net profit | 47.95 | 42.22 | 29.59 | +62.0% | +13.6% |
| EPS (₹) | 7.08 | 6.23 | 5.21 | +35.9% | +13.6% |
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 KSH International's costs and profit?
Total expenses rose 85.7% year on year to ₹1,261 crore, with cost of materials up ₹491.41 crore to ₹1,172 crore. Employee cost increased by ₹2.64 crore to ₹14.92 crore, finance costs by ₹12.99 crore to ₹22.25 crore, depreciation by ₹5.28 crore to ₹9.15 crore and other expenses by ₹14.54 crore to ₹31.78 crore.
Other income increased by ₹1.98 crore to ₹5.54 crore, while there was no exceptional item. Tax expense rose by ₹8.96 crore to ₹15.90 crore. Against the year-ago quarter, profit before tax increased by ₹27.33 crore to ₹63.86 crore and net profit increased by ₹18.36 crore to ₹47.95 crore, with the PAT margin falling 0.6 percentage points to 3.6%.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 1,172 | 680.47 | +491.41 | +72.2% |
| Employee cost | 14.92 | 12.28 | +2.64 | +21.5% |
| Finance costs | 22.25 | 9.26 | +12.99 | +140.3% |
| Depreciation | 9.15 | 3.87 | +5.28 | +136.4% |
| Other expenses | 31.78 | 17.24 | +14.54 | +84.3% |
| Total expenses | 1,261 | 679.17 | +582.17 | +85.7% |
| Other income | 5.54 | 3.56 | +1.98 | +55.6% |
| Tax | 15.90 | 6.94 | +8.96 | +129.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, KSH International reported revenue of ₹2,483.89 crore, up 95.4% from ₹1,270.86 crore in H1 FY26. Total income rose 95.4% to ₹2,497.62 crore from ₹1,278.31 crore, while profit before tax increased 72.3% to ₹120.75 crore from ₹70.07 crore.
Net profit for H1 FY27 was ₹90.17 crore, up 72.5% from ₹52.27 crore in H1 FY26. Basic EPS increased 44.7% to ₹13.31 from ₹9.20. The filed results included an exceptional item of ₹16.38 crore in H1 FY26 and no exceptional item in H1 FY27.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 2,484 | 1,271 | +95.4% |
| Profit before tax | 120.75 | 70.07 | +72.3% |
| Net profit | 90.17 | 52.27 | +72.5% |
| EPS (₹) | 13.31 | 9.20 | +44.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹1,755.41 crore, up from ₹1,322.57 crore at 31 March 2026. Total equity rose to ₹898.86 crore from ₹808.10 crore, while borrowings increased to ₹341.26 crore from ₹316.21 crore and cash fell to ₹41.56 crore from ₹72.12 crore.
Inventories increased to ₹542.01 crore from ₹424.92 crore, trade receivables to ₹586.41 crore from ₹332.71 crore and trade payables to ₹418.29 crore from ₹123.53 crore. H1 FY27 operating cash flow was ₹42.57 crore, compared with an outflow of ₹45.69 crore in H1 FY26, while investing cash flow was an outflow of ₹57.66 crore against ₹62.46 crore and financing cash flow was an outflow of ₹15.47 crore against an inflow of ₹106.36 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,755 | 1,323 |
| Total equity | 898.86 | 808.10 |
| Borrowings | 341.26 | 316.21 |
| Cash and equivalents | 41.56 | 72.12 |
| Inventories | 542.01 | 424.92 |
| Trade receivables | 586.41 | 332.71 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 42.57 | −45.69 |
| Cash from investing | −57.66 | −62.46 |
| Cash from financing | −15.47 | 106.36 |
| Capital expenditure | 42.34 | 61.20 |
Source: Company's results filing (XBRL).
How has KSH International done over the last 5 quarters?
Revenue rose across each of the last five reported quarters, reaching ₹1,319.65 crore in Q2 FY27 from ₹712.15 crore in Q2 FY26. Net profit also moved upward in the latest two quarters, reaching ₹47.95 crore after ₹42.22 crore in Q1 FY27.
The EBITDA margin bottomed at 5.5% in Q4 FY26 and then rose to 6.4% in Q1 FY27 and 6.8% in Q2 FY27. Over the five-quarter period, the highest revenue and net profit were both recorded in Q2 FY27, at ₹1,319.65 crore and ₹47.95 crore respectively.
What else did the company announce?
The company said the expansion would be financed through internal accruals, debt or a combination of both. The Board also approved the unaudited financial results for the quarter and six months ended 30 September 2026; the statutory auditors issued a limited review report with an unmodified opinion.
What did KSH International's management say?
Management said exports contributed about 30% of revenue across 26 countries, with Q2 FY27 export revenue up 108% year on year. It also said the company is the only Indian supplier approved for HVDC transformers, has received a domestic award and European test orders, and is seeking a higher wallet share with existing clients and new OEMs.
Quick answers
What was KSH International's revenue in Q2 FY27?
Revenue from operations was ₹1,320 crore, up 85.3% from ₹712.15 crore in Q2 FY26 (standalone).
Did KSH International make a profit in Q2 FY27?
Yes. Net profit was ₹47.95 crore, against a net profit of ₹29.59 crore in Q2 FY26.
What was KSH International's EPS in Q2 FY27?
Basic earnings per share were ₹7.08, against ₹5.21 in Q2 FY26.
When did KSH International announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of The Unaudited Financial Results For The Quarter And Six-Months Period Ended On September 30, 2026 (BSE, 12 October 2026) · PDF
- Board Meeting Outcome for Outcome Of The Board Meeting (BSE, 4 November 2026) · PDF
- Unaudited Financial Results (BSE, 4 November 2026) · PDF
- The investor presentation (4 November 2026)
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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