Macpower CNC Machines Q2 FY27 results: net profit up 43.6% to ₹13.47 crore, revenue up 40.4%

How did Macpower CNC Machines perform in Q2 FY27?

Macpower CNC Machines reported standalone revenue of ₹120.33 crore for Q2 FY27, up 40.4% from ₹85.71 crore in Q2 FY26 and 26.3% from ₹95.24 crore in Q1 FY27. Total income was ₹120.79 crore, against ₹85.89 crore a year earlier and ₹95.40 crore in the previous quarter. The company has no subsidiary, associate or joint venture, so no consolidated result is presented.

EBITDA rose 40.8% to ₹19.94 crore from ₹14.16 crore in Q2 FY26 and increased 29.2% from ₹15.43 crore in Q1 FY27. The EBITDA margin was 16.6%, compared with 16.5% a year earlier and 16.2% in the previous quarter. Profit before tax was ₹17.79 crore, up 42.1% from ₹12.52 crore and 37.4% from ₹12.95 crore.

Macpower reported a net profit of ₹13.47 crore, up 43.6% from ₹9.38 crore in Q2 FY26 and 40.6% from ₹9.58 crore in Q1 FY27. Basic EPS rose 43.8% to ₹13.47 from ₹9.37 in the year-ago quarter and increased 40.6% from ₹9.58 in the previous quarter. The net profit margin was 11.2%, against 10.9% a year earlier and 10.1% in Q1 FY27.

What changed in Macpower CNC Machines' costs and profit?

Total expenses rose 40.4% to ₹103 crore from ₹73.38 crore in Q2 FY26. Cost of materials increased by ₹24.41 crore to ₹70.63 crore, employee cost rose by ₹2.32 crore to ₹11.58 crore, and other expenses increased by ₹5.37 crore to ₹14.62 crore. Depreciation rose by ₹0.59 crore to ₹2.36 crore, while finance costs increased by ₹0.19 crore to ₹0.25 crore.

Other income rose by ₹0.29 crore to ₹0.47 crore from ₹0.18 crore in Q2 FY26. There was no exceptional item in either quarter. Tax expense increased by ₹1.18 crore to ₹4.32 crore from ₹3.14 crore, while profit before tax increased by ₹5.27 crore to ₹17.79 crore and net profit rose by ₹4.09 crore to ₹13.47 crore. The filing did not provide a specific reason for the cost movements.

How did the first half of FY27 go?

Profit before tax for H1 FY27 was ₹30.74 crore, up 65.0% from ₹18.63 crore, while net profit rose 65.5% to ₹23.06 crore from ₹13.93 crore. Basic EPS increased 65.5% to ₹23.05 from ₹13.93. The net profit margin was 10.7%, compared with 9.5% in H1 FY26, and the EBITDA margin was 16.4%, against 15.0%.

What do the balance sheet and cash flow show?

As of 30 September 2026, total assets were ₹301.06 crore, compared with ₹265.46 crore as of 31 March 2026. Total equity rose to ₹196.85 crore from ₹175.25 crore, while borrowings increased to ₹1.58 crore from ₹0.39 crore. Cash and cash equivalents were ₹27.20 crore, higher than ₹5.95 crore at the previous balance sheet date.

Inventories increased to ₹170.02 crore from ₹145.55 crore as of 31 March 2026, while trade receivables fell to ₹22.89 crore from ₹46.27 crore. Trade payables were ₹71.79 crore, compared with ₹71.75 crore. For H1 FY27, net cash from operating activities was ₹29.97 crore, compared with ₹0.83 crore in H1 FY26.

Investing cash flow was negative ₹12.90 crore in H1 FY27, against negative ₹3.23 crore a year earlier, and capital expenditure was ₹8.26 crore against ₹3.22 crore. Financing cash flow was ₹3.69 crore, compared with negative ₹3.45 crore in H1 FY26.

How has Macpower CNC Machines done over the last 8 quarters?

Revenue increased year-on-year in each of the last seven quarters, while profit rose year-on-year in each of the last six quarters. In the latest sequence, revenue reached its highest level at ₹120.33 crore in Q2 FY27, after ₹95.24 crore in Q1 FY27. Revenue bottomed at ₹60.11 crore in Q3 FY25 before moving higher in each subsequent quarter.

Net profit also reached its highest level in the series at ₹13.47 crore in Q2 FY27, compared with ₹9.58 crore in Q1 FY27. The earlier low was ₹4.47 crore in Q3 FY25. The EBITDA margin rose to 16.6% in Q2 FY27 from 16.2% in Q1 FY27; its earlier low was 12.5% in Q3 FY25, while the later peak was 18.1% in Q3 FY26.

What else did the company announce?

The board approved the unaudited standalone financial results and the limited review report for the quarter and half year ended 30 September 2026 on 26 October 2026. It also filed the cash flow statement and statement of assets and liabilities for that date. The company subsequently submitted an updated investor presentation on 27 October 2026.

The presentation stated that construction had begun on the company’s 13-acre leased land, with an estimated investment of about ₹50 crore for infrastructure, plant and machinery. The facility was targeted for completion within 12 months, while the earnings call presentation said it was expected to become operational by the end of Q2 FY28. The same filings did not announce a dividend, fund raise or appointment.

What did Macpower CNC Machines' management say?

On the earnings call, management raised FY27 revenue growth guidance to nearly 35% from about 30% at the prior call. Chairman and Managing Director Rupesh Mehta said the company expected 25%-30% year-on-year growth over the next three years and expected 2,300-2,400 machine deliveries in FY27. One question-and-answer response still described the full-year target as nearly 30%.

Management said the pending order book was ₹476 crore, up 36% year-on-year, with ₹939 crore of bids in the pipeline. The NEXA series accounted for about 40% of the pending order book by value, and management targeted 50% in FY29. It expected the 13-acre facility to become operational by the end of Q2 FY28, while exact post-expansion capacity and associated capital expenditure were deferred to the Q3 FY27 call.

Management identified capacity constraints, refunds of 10-20 machines per month where deliveries could not be met, and the pending transfer of 60 acres of land under the Gujarat defence policy as risks. It also cited licensing, sanctions and country-specific clearance constraints for five-axis defence and export sales, alongside long lead times for specialist imported components. The expansion ramp could increase debtors and fixed costs, although management expected supplier credit and advances to offset them.

How did Macpower CNC Machines shares react?

After the filing appeared, the stock was up 3.0% after five minutes, 3.7% after 15 minutes and 3.7% after 30 minutes. It closed the reaction day up 8.2% from the previous close of ₹1,768.60. By the next day’s close, the cumulative gain was 8.4%, and by the fifth session’s close it was 19.3%. The Industrial Products sector median fell 0.3% on the reaction day and rose 1.5% and 1.8% over the corresponding one-day and five-day periods.

Macpower outperformed the sector median by 8.5 percentage points on the reaction day, 6.9 percentage points by the next day and 17.5 percentage points by the fifth session. Its earlier result-day reactions included gains of 8.0% on 29 July 2026 and 7.1% on 10 February 2026, as well as declines of 8.9% on 27 May 2026 and 5.0% on 6 August 2025.

How did other Industrial Products companies do?

Thirty-eight other Industrial Products companies had filed for the quarter by 4 November 2026. Their median revenue growth was 31.6%, compared with Macpower CNC Machines’ 40.4% growth in Q2 FY27. Of the peers with comparable revenue growth data, 21 grew more slowly than Macpower and 17 grew faster.

Among the 32 peers for which profit was compared, 23 reported higher profit.