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RattanIndia Power Q2 FY27 results: net profit ₹38.37 crore vs ₹31.55 crore loss, revenue up 7.5%
RattanIndia Power Limited reported consolidated revenue of ₹702.85 crore for Q2 FY27, up 7.5% from Q2 FY26, while net profit turned to ₹38.37 crore from a net loss of ₹31.55 crore. EBITDA rose to ₹98.11 crore and margin expanded to 14.0% from 7.9%.
Key points
- Consolidated Q2 FY27 revenue was ₹702.85 crore, up 7.5% from ₹653.72 crore in Q2 FY26.
- EBITDA was ₹98.11 crore, up 89.8%, while EBITDA margin expanded 6.1 percentage points to 14.0%.
- Net profit was ₹38.37 crore versus a net loss of ₹31.55 crore, and basic EPS was ₹0.07.
- H1 FY27 revenue was ₹1,501.40 crore, up 1.7%, while PAT was ₹84.22 crore versus a net loss of ₹44.66 crore.
- The stock was down 0.5% on the reaction day and down 1.1% from the pre-results close by the next day's close.
How did RattanIndia Power perform in Q2 FY27?
RattanIndia Power reported consolidated revenue of ₹702.85 crore in Q2 FY27, up 7.5% from ₹653.72 crore in Q2 FY26 but down 12.0% from ₹798.55 crore in Q1 FY27. EBITDA was ₹98.11 crore, compared with ₹51.70 crore a year earlier and ₹124.97 crore in the previous quarter. EBITDA margin was 14.0%, up 6.1 percentage points year on year but down 1.6 percentage points sequentially.
The company reported profit before tax and net profit of ₹38.37 crore in Q2 FY27, versus a net loss of ₹31.55 crore in Q2 FY26 and net profit of ₹45.85 crore in Q1 FY27. Basic EPS was ₹0.07, against negative EPS of ₹0.06 a year earlier and ₹0.09 in the previous quarter. On the standalone basis, revenue was ₹702.85 crore, up 7.5%, while profit before tax and net profit were ₹36.90 crore, versus a net loss of ₹33.02 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 702.85 | 798.55 | 653.72 | +7.5% | −12.0% |
| Other income | 84.88 | 67.88 | 89.69 | −5.4% | +25.0% |
| Total expenses | 749.36 | 820.58 | 774.96 | −3.3% | −8.7% |
| EBITDA | 98.11 | 124.97 | 51.70 | +89.8% | −21.5% |
| EBITDA margin | 14.0% | 15.6% | 7.9% | +6.1 pp | −1.6 pp |
| Profit before tax | 38.37 | 45.85 | −31.55 | turned to profit | −16.3% |
| Tax | 0 | 0 | 0 | ||
| Net profit | 38.37 | 45.85 | −31.55 | turned to profit | −16.3% |
| EPS (₹) | 0.07 | 0.09 | −0.06 | turned to profit | −22.2% |
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 RattanIndia Power's costs and profit?
Total expenses fell to ₹749.36 crore from ₹774.96 crore in Q2 FY26, a decline of ₹25.60 crore or 3.3%. Finance costs declined by ₹29.20 crore or 26.1% to ₹82.88 crore, and other expenses decreased by ₹4.24 crore or 9.2% to ₹41.75 crore. Cost of materials rose by ₹5.51 crore or 1.0%, employee cost increased by ₹1.45 crore or 8.5%, and depreciation rose by ₹0.88 crore or 1.4%.
Other income was ₹84.88 crore, down ₹4.81 crore or 5.4% from ₹89.69 crore in Q2 FY26. There was no exceptional item, and tax remained unchanged at ₹0 crore. Sequentially, total expenses fell by ₹71.22 crore or 8.7%, while other income rose by ₹17 crore or 25.0% to ₹84.88 crore; finance costs declined by ₹3.05 crore or 3.5%.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 544.51 | 539 | +5.51 | +1.0% |
| Employee cost | 18.48 | 17.03 | +1.45 | +8.5% |
| Finance costs | 82.88 | 112.08 | −29.20 | −26.1% |
| Depreciation | 61.74 | 60.86 | +0.88 | +1.4% |
| Other expenses | 41.75 | 45.99 | −4.24 | −9.2% |
| Total expenses | 749.36 | 774.96 | −25.60 | −3.3% |
| Other income | 84.88 | 89.69 | −4.81 | −5.4% |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue was ₹1,501.40 crore, up ₹25.72 crore or 1.7% from ₹1,475.68 crore in H1 FY26. Total income was ₹1,654.16 crore, down ₹10.14 crore or 0.6% from ₹1,664.30 crore, as the increase in revenue was accompanied by lower other income.
Profit before tax and PAT were ₹84.22 crore in H1 FY27, compared with a net loss of ₹44.66 crore in H1 FY26, an improvement of ₹128.88 crore. Basic EPS was ₹0.16, compared with negative EPS of ₹0.08 a year earlier.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,501 | 1,476 | +1.7% |
| Profit before tax | 84.22 | −44.66 | turned to profit |
| Net profit | 84.22 | −44.66 | turned to profit |
| EPS (₹) | 0.16 | −0.08 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹9,654.14 crore, compared with ₹9,612.93 crore at 31 March 2026, while total equity was ₹4,721.73 crore versus ₹4,637.71 crore. Borrowings were ₹3,663.01 crore against ₹3,637.42 crore, and cash and cash equivalents were ₹129.29 crore against ₹10.25 crore. Inventories fell to ₹146.65 crore from ₹202.14 crore, while trade receivables rose to ₹2,818.64 crore from ₹2,757.39 crore.
For H1 FY27, net cash generated from operating activities was ₹272.06 crore, compared with ₹373.78 crore in H1 FY26. Net cash used in investing activities was ₹1.46 crore against ₹6.05 crore generated, while financing activities used ₹151.56 crore compared with ₹13.66 crore generated. Capital expenditure on property, plant, equipment, capital advances, capital work in progress and intangible assets was ₹7.70 crore, against ₹73.07 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 9,654 | 9,613 |
| Total equity | 4,722 | 4,638 |
| Borrowings | 3,663 | 3,637 |
| Cash and equivalents | 129.29 | 10.25 |
| Inventories | 146.65 | 202.14 |
| Trade receivables | 2,819 | 2,757 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 272.06 | 373.78 |
| Cash from investing | −1.46 | 6.05 |
| Cash from financing | −151.56 | 13.66 |
| Capital expenditure | 7.70 | 73.07 |
Source: Company's results filing (XBRL).
How has RattanIndia Power done over the last 8 quarters?
Revenue peaked at ₹936.25 crore in Q4 FY25 and fell to ₹653.72 crore in Q2 FY26 before recovering in subsequent quarters. It reached ₹798.55 crore in Q1 FY27 and eased to ₹702.85 crore in Q2 FY27, showing a lower direction from the immediately preceding quarter.
Net profit was highest at ₹125.94 crore in Q4 FY25 and bottomed at a net loss of ₹31.55 crore in Q2 FY26. It then moved to ₹54.26 crore in Q3 FY26, before easing to ₹38.37 crore in Q2 FY27. EBITDA margin also declined from 15.6% in Q1 FY27 to 14.0% in Q2 FY27, following a peak of 22.6% in Q4 FY25.
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026 at its meeting on 30 October 2026. The company also filed an earnings update and the statutory auditors’ limited review report on the same day. The earnings update said the Amravati plant achieved a plant load factor of 85.01% and plant availability factor of 90.86% in H1 FY27.
What did the auditors point out?
The statutory auditors reported an emphasis of matter in the limited review report on the consolidated results. The matter concerned redeemable preference shares aggregating to Rs. 250 crores issued to the Holding Company’s lenders, which became due for redemption on 27 December 2021 but remained unredeemed because of limitations under section 55(2) of the Act. One RPS holder had filed appeals under Section 7 of the Insolvency and Bankruptcy Code, 2016 against the Holding Company and Poena Power Development Limited, seeking redemption of principal and interest.
The auditors also stated that, based on legal experts’ inputs and a relevant favourable judicial pronouncement, the Section 7 application against PPDL was not maintainable under applicable laws. They said it was not expected to have any material impact on the consolidated financial results or on RattanIndia Power’s and the subsidiary’s operations and functioning.
How did RattanIndia Power shares react?
After the filing appeared, the stock rose 1.6% in 5 minutes, 2.9% in 15 minutes and 2.9% in 30 minutes. It closed 0.5% lower on the reaction day from the previous close of ₹6.14. By the next day’s close, it was down 1.1% from that pre-results close, while the Power Generation industry median was up 0.1% and the Nifty Microcap 250 was down 1.1%.
Earlier results-day reactions were mixed: the stock rose 2.0% on 24 July 2026, 0.8% on 7 May 2026 and 2.7% on 30 January 2026. It fell 4.0% on 31 October 2025 and 6.0% on 23 July 2025.
| After the filing | Stock | Power Generation median |
|---|---|---|
| 5 minutes | +1.6% | |
| 15 minutes | +2.9% | |
| 30 minutes | +2.9% | |
| Reaction day | −0.5% | −1.9% |
| Next day | −1.1% | +0.1% |
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 |
|---|---|
| 24 July 2026 | +2.0% |
| 7 May 2026 | +0.8% |
| 30 January 2026 | +2.7% |
| 31 October 2025 | −4.0% |
| 23 July 2025 | −6.0% |
| 7 May 2025 | +2.9% |
| 22 January 2025 | +2.6% |
| 23 October 2024 | −0.1% |
Source: MarketPing price-reaction measurement.
How did other Power Generation companies do?
Among 13 other Power Generation companies that had filed for the quarter, the median revenue growth was 21.2%. Five peers grew slower than RattanIndia Power, while eight grew faster than the company. RattanIndia Power’s revenue growth was 7.5%.
Ten of the 14 peers whose profit was compared reported higher profit. The peer comparison was as of 4 November 2026.
| RattanIndia Power revenue growth (YoY) | +7.5% |
|---|---|
| Median of 13 other Power Generation companies | +21.2% |
| Companies with slower revenue growth than RattanIndia Power | 5 of 13 |
| Companies with faster revenue growth than RattanIndia Power | 8 of 13 |
| Companies whose net profit rose | 10 of 14 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was RattanIndia Power's revenue in Q2 FY27?
Revenue from operations was ₹702.85 crore, up 7.5% from ₹653.72 crore in Q2 FY26 (consolidated).
Did RattanIndia Power make a profit in Q2 FY27?
Yes. Net profit was ₹38.37 crore, against a net loss of ₹31.55 crore in Q2 FY26.
What was RattanIndia Power's EPS in Q2 FY27?
Basic earnings per share were ₹0.07, against a loss of ₹0.06 in Q2 FY26.
How did RattanIndia Power shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.5% from the previous close; the median Power Generation stock moved −1.9%.
When did RattanIndia Power announce its Q2 FY27 results?
On 30 October 2026, in a filing to the NSE.
Sources
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.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.