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Quality Power Electrical Equipments Q2 FY27 results: net profit up 80.1% to ₹63.33 crore, revenue up 32.5%
Quality Power Electrical Equipments Limited reported consolidated Q2 FY27 revenue of ₹272.53 crore, up 32.5% from Q2 FY26, while net profit rose 80.1% to ₹63.33 crore and EBITDA margin expanded 5.5 percentage points to 23.1%. For H1 FY27, revenue increased 32.1% to ₹505.19 crore and net profit rose 52.4% to ₹110.05 crore.
Key points
- Consolidated Q2 FY27 revenue was ₹272.53 crore, up ₹66.77 crore or 32.5% from Q2 FY26.
- Q2 FY27 EBITDA was ₹62.96 crore, up ₹26.73 crore or 73.8%, while the margin increased 5.5 percentage points to 23.1%.
- Net profit for Q2 FY27 was ₹63.33 crore, up ₹28.16 crore or 80.1% from ₹35.17 crore in Q2 FY26.
- Basic EPS for Q2 FY27 was ₹5.48, compared with ₹3.14 in Q2 FY26 and ₹4.66 in Q1 FY27.
- H1 FY27 revenue was ₹505.19 crore and net profit was ₹110.05 crore, with basic EPS of ₹10.14.
How did Quality Power Electrical Equipments perform in Q2 FY27?
Quality Power Electrical Equipments reported consolidated Q2 FY27 revenue of ₹272.53 crore, up ₹66.77 crore or 32.5% from ₹205.76 crore in Q2 FY26. EBITDA rose ₹26.73 crore or 73.8% to ₹62.96 crore, and the margin increased 5.5 percentage points to 23.1%. Net profit was ₹63.33 crore, up ₹28.16 crore or 80.1%, while basic EPS was ₹5.48 compared with ₹3.14.
Against Q1 FY27, revenue increased ₹39.87 crore or 17.1% to ₹272.53 crore. EBITDA rose ₹21.98 crore or 53.6% to ₹62.96 crore and margin increased 5.5 percentage points to 23.1%. Net profit rose ₹16.61 crore or 35.6% to ₹63.33 crore, and basic EPS increased ₹0.82 to ₹5.48.
On a standalone basis, Q2 FY27 revenue was ₹74.05 crore and net profit was ₹22.35 crore. Profit before tax was ₹12.93 crore. The reported quarter and half-year results were unaudited and were approved by the board on 31 October 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 272.53 | 232.66 | 205.76 | +32.5% | +17.1% |
| Other income | 21.07 | 23.71 | 13.12 | +60.6% | −11.1% |
| Total expenses | 216.41 | 196.96 | 174.54 | +24.0% | +9.9% |
| EBITDA | 62.96 | 40.98 | 36.23 | +73.8% | +53.6% |
| EBITDA margin | 23.1% | 17.6% | 17.6% | +5.5 pp | +5.5 pp |
| Profit before tax | 77.19 | 59.42 | 44.33 | +74.1% | +29.9% |
| Tax | 13.46 | 13.79 | 9.13 | +47.4% | −2.4% |
| Net profit | 63.33 | 46.72 | 35.17 | +80.1% | +35.6% |
| EPS (₹) | 5.48 | 4.66 | 3.14 | +74.5% | +17.6% |
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 Quality Power Electrical Equipments' costs and profit?
Total expenses for Q2 FY27 were ₹216.41 crore, up ₹41.87 crore or 24.0% from ₹174.54 crore in Q2 FY26. Cost of materials fell ₹10.39 crore or 8.2% to ₹116.76 crore, while employee cost rose ₹5.97 crore or 24.7% to ₹30.14 crore.
Other expenses increased ₹5.54 crore or 38.8% to ₹19.82 crore from ₹14.28 crore. Finance costs rose ₹0.73 crore or 33.2% to ₹2.93 crore, and depreciation increased ₹1.10 crore or 39.0% to ₹3.92 crore. There was no exceptional item in either Q2 FY27 or Q2 FY26.
Other income rose ₹7.95 crore or 60.6% to ₹21.07 crore from ₹13.12 crore. Profit before tax increased ₹32.86 crore or 74.1% to ₹77.19 crore, and tax rose ₹4.33 crore or 47.4% to ₹13.46 crore, taking net profit to ₹63.33 crore. The filing noted continued volatility in raw material prices but did not provide a further explanation for the year-on-year profit movement.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 116.76 | 127.15 | −10.39 | −8.2% |
| Employee cost | 30.14 | 24.17 | +5.97 | +24.7% |
| Finance costs | 2.93 | 2.20 | +0.73 | +33.2% |
| Depreciation | 3.92 | 2.82 | +1.10 | +39.0% |
| Other expenses | 19.82 | 14.28 | +5.54 | +38.8% |
| Total expenses | 216.41 | 174.54 | +41.87 | +24.0% |
| Other income | 21.07 | 13.12 | +7.95 | +60.6% |
| Tax | 13.46 | 9.13 | +4.33 | +47.4% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹505.19 crore, up ₹122.71 crore or 32.1% from ₹382.48 crore in H1 FY26. Total income rose ₹137.03 crore or 33.2% to ₹549.98 crore, while profit before tax increased ₹48.0 crore or 54.2% to ₹136.62 crore.
Net profit for H1 FY27 was ₹110.05 crore, up ₹37.82 crore or 52.4% from ₹72.23 crore in H1 FY26. Basic EPS increased ₹3.88 or 62.0% to ₹10.14 from ₹6.26. Management’s presentation separately cited a 27.0% H1 FY27 EBITDA margin and approximately ₹2,010 crore consolidated order book.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 505.19 | 382.48 | +32.1% |
| Profit before tax | 136.62 | 88.62 | +54.2% |
| Net profit | 110.05 | 72.23 | +52.4% |
| EPS (₹) | 10.14 | 6.26 | +62.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹1,262.81 crore, compared with ₹1,111.96 crore at 31 March 2026, while total equity was ₹862.21 crore against ₹773.27 crore. Borrowings rose to ₹39.8 crore from ₹35.48 crore, and cash declined to ₹99.48 crore from ₹183.78 crore.
Inventories increased to ₹219.32 crore from ₹116.13 crore, while trade receivables fell to ₹231.11 crore from ₹241.81 crore. Trade payables rose to ₹193.0 crore from ₹163.92 crore. H1 FY27 operating cash flow was ₹7.08 crore, compared with an outflow of ₹11.96 crore in H1 FY26.
Investing cash flow was an outflow of ₹87.97 crore in H1 FY27, against an outflow of ₹79.58 crore in H1 FY26. Financing cash flow was an outflow of ₹3.42 crore, compared with an inflow of ₹23.99 crore. Capital expenditure was ₹51.27 crore, up from ₹21.12 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,263 | 1,112 |
| Total equity | 862.21 | 773.27 |
| Borrowings | 39.80 | 35.48 |
| Cash and equivalents | 99.48 | 183.78 |
| Inventories | 219.32 | 116.13 |
| Trade receivables | 231.11 | 241.81 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 7.08 | −11.96 |
| Cash from investing | −87.97 | −79.58 |
| Cash from financing | −3.42 | 23.99 |
| Capital expenditure | 51.27 | 21.12 |
Source: Company's results filing (XBRL).
How has Quality Power Electrical Equipments done over the last 8 quarters?
Revenue reached a quarterly high of ₹283.99 crore in Q3 FY26 and was ₹272.53 crore in Q2 FY27, above Q1 FY27’s ₹232.66 crore. Revenue and profit each rose year on year in each of the last four quarters, according to the supplied trend data.
Net profit peaked at ₹63.33 crore in Q2 FY27, compared with its low of ₹19.57 crore in Q3 FY25. EBITDA margin was 23.1% in Q2 FY27, above Q1 FY27’s 17.6%, but below Q3 FY26’s 27.8%. Revenue had reached a low of ₹72.58 crore in Q3 FY25.
What did Quality Power Electrical Equipments' management say?
Management said its immediate focus at the new Sangli Global Coil Factory was on stabilising production, improving throughput, strengthening the supply chain and completing ongoing customer audits and qualifications. For the second half of FY27, it said priorities included increasing manufacturing throughput, addressing supply-chain constraints, completing customer qualifications and progressively bringing new facilities to their intended operating capacities.
Management said Mehru was evaluating alternatives to at least double manufacturing capacity over the near to medium term, while its existing capacity was substantially committed. The company also said it was launching 765kV capability in Q4 2026. Manufacturing operations commenced at the Sangli Global Coil Factory on 20 October 2026 and at the Turkey PCS facility on 16 October 2026.
Management identified the ramp-up of new facilities, supply-chain constraints and customer qualifications as execution risks for H2 FY27. It said sustainable growth depended on disciplined execution, consistent product quality and reliable deliveries. The presentation did not provide an analyst-question section or formal financial guidance beyond the stated capacity and product priorities.
The proposed WinWin Speciality acquisition remained subject to confirmatory due diligence, definitive documentation, regulatory and shareholder approvals, and the company said there was no assurance it would complete. The board had obtained shareholder approval through a special resolution on 19 October 2026, while the filing said conditions precedent and applicable regulatory approvals remained outstanding.
How did Quality Power Electrical Equipments shares react?
After the results appeared after market hours, the stock was up 0.3% after five minutes, down 0.6% after 15 minutes and down 0.4% after 30 minutes. From the previous close of ₹1,410.00, it closed the reaction session up 1.4%; by the next day’s close, it was up 0.9% from that pre-results close.
The Nifty Microcap 250 was up 1.4% on the reaction day. No industry median or excess-return comparison was available, and no five-day reaction figure was provided. Earlier reaction-day moves were 5.9% on 9 August 2026, -7.5% on 13 May 2026, -7.4% on 12 November 2025, -3.5% on 7 August 2025, -4.1% on 27 May 2025 and -5.8% on 15 March 2025.
| After the filing | Stock |
|---|---|
| 5 minutes | +0.3% |
| 15 minutes | −0.6% |
| 30 minutes | −0.4% |
| Reaction day | +1.4% |
| Next day | +0.9% |
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 |
|---|---|
| 9 August 2026 | +5.9% |
| 13 May 2026 | −7.5% |
| 12 November 2025 | −7.4% |
| 7 August 2025 | −3.5% |
| 27 May 2025 | −4.1% |
| 15 March 2025 | −5.8% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Quality Power Electrical Equipments' revenue in Q2 FY27?
Revenue from operations was ₹272.53 crore, up 32.5% from ₹205.76 crore in Q2 FY26 (consolidated).
Did Quality Power Electrical Equipments make a profit in Q2 FY27?
Yes. Net profit was ₹63.33 crore, against a net profit of ₹35.17 crore in Q2 FY26.
What was Quality Power Electrical Equipments' EPS in Q2 FY27?
Basic earnings per share were ₹5.48, against ₹3.14 in Q2 FY26.
How did Quality Power Electrical Equipments shares react to the Q2 FY27 results?
On the reaction day the stock moved +1.4% from the previous close.
When did Quality Power Electrical Equipments announce its Q2 FY27 results?
On 31 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Meeting Of The Board Of Directors Of The Company To Be Held On Saturday, 31St October, 2026. (BSE, 28 October 2026) · PDF
- Unaudited Financial Results For 30Th September 2026 (BSE, 31 October 2026) · PDF
- The investor presentation (1 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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