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RIR Power Electronics Q2 FY27 results: net profit up 41.3% to ₹4.45 crore, revenue up 32.5%
RIR Power Electronics Ltd reported standalone revenue of ₹33.98 crore in Q2 FY27, up 32.5% from Q2 FY26 and 25.1% from Q1 FY27. Net profit rose to ₹4.45 crore from ₹3.15 crore a year earlier, while basic EPS was ₹0.56; EBITDA was ₹4.63 crore and the EBITDA margin fell to 13.6% from 17.0%.
Key points
- Q2 FY27 standalone revenue was ₹33.98 crore, up 32.5% from Q2 FY26 and 25.1% from Q1 FY27.
- EBITDA was ₹4.63 crore, compared with ₹4.36 crore in Q2 FY26 and ₹3.98 crore in Q1 FY27; the margin was 13.6% against 17.0% and 14.7%, respectively.
- Net profit was ₹4.45 crore, up from ₹3.15 crore in Q2 FY26 and ₹3.14 crore in Q1 FY27, while basic EPS was ₹0.56.
- H1 FY27 revenue was ₹61.14 crore, up 31.0% from ₹46.66 crore in H1 FY26; net profit was ₹7.59 crore against ₹4.89 crore.
- Total assets were ₹234.5 crore at 30 September 2026, compared with ₹217.88 crore at 31 March 2026; borrowings fell to ₹7.22 crore from ₹11.09 crore.
How did RIR Power Electronics perform in Q2 FY27?
RIR Power Electronics reported standalone revenue of ₹33.98 crore in Q2 FY27, up 32.5% from ₹25.64 crore in Q2 FY26 and 25.1% from ₹27.16 crore in Q1 FY27. Total income was ₹35.59 crore, up 35.3% year on year and 27.4% sequentially.
EBITDA was ₹4.63 crore, compared with ₹4.36 crore a year earlier and ₹3.98 crore in the previous quarter. The EBITDA margin was 13.6%, down 3.4 percentage points from 17.0% in Q2 FY26 and 1.1 percentage points from 14.7% in Q1 FY27.
Profit before tax was ₹5.54 crore, against ₹4.35 crore in Q2 FY26 and ₹4.15 crore in Q1 FY27. Net profit was ₹4.45 crore, compared with ₹3.15 crore and ₹3.14 crore, respectively, while basic EPS was ₹0.56 against ₹0.47 and ₹0.39.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 33.98 | 27.16 | 25.64 | +32.5% | +25.1% |
| Other income | 1.61 | 0.77 | 0.66 | +143.9% | +109.1% |
| Total expenses | 30.05 | 23.78 | 21.95 | +36.9% | +26.4% |
| EBITDA | 4.63 | 3.98 | 4.36 | +6.2% | +16.3% |
| EBITDA margin | 13.6% | 14.7% | 17.0% | −3.4 pp | −1.1 pp |
| Profit before tax | 5.54 | 4.15 | 4.35 | +27.4% | +33.5% |
| Tax | 1.09 | 1.01 | 1.20 | −9.2% | +7.9% |
| Net profit | 4.45 | 3.14 | 3.15 | +41.3% | +41.7% |
| EPS (₹) | 0.56 | 0.39 | 0.47 | +19.1% | +43.6% |
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 RIR Power Electronics' costs and profit?
Total expenses increased to ₹30.05 crore in Q2 FY27 from ₹21.95 crore in Q2 FY26. Cost of materials rose by ₹4.55 crore to ₹19.68 crore, employee cost increased by ₹2.21 crore to ₹5.05 crore, and depreciation rose by ₹0.08 crore to ₹0.39 crore.
Other income increased by ₹0.95 crore to ₹1.61 crore, while finance costs fell by ₹0.05 crore to ₹0.31 crore and other expenses declined by ₹0.13 crore to ₹2.82 crore. There was no exceptional item. Tax expense was ₹1.09 crore, down ₹0.11 crore from ₹1.20 crore in Q2 FY26.
The earnings call attributed the lower adjusted operational EBITDA margin to a 2.8% rise in raw-material costs because of geopolitical issues, as well as spending on events including SEMICON India and Transrail. The company’s adjusted operational EBITDA and margin differed from the standalone reported figures in the financial results.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 19.68 | 15.13 | +4.55 | +30.1% |
| Employee cost | 5.05 | 2.84 | +2.21 | +77.8% |
| Finance costs | 0.31 | 0.36 | −0.05 | −13.9% |
| Depreciation | 0.39 | 0.31 | +0.08 | +25.8% |
| Other expenses | 2.82 | 2.95 | −0.13 | −4.4% |
| Total expenses | 30.05 | 21.95 | +8.10 | +36.9% |
| Other income | 1.61 | 0.66 | +0.95 | +143.9% |
| Tax | 1.09 | 1.20 | −0.11 | −9.2% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, standalone revenue was ₹61.14 crore, up 31.0% from ₹46.66 crore in H1 FY26. Total income was ₹63.53 crore against ₹47.65 crore, while profit before tax was ₹9.69 crore compared with ₹6.92 crore.
H1 FY27 net profit was ₹7.59 crore, up from ₹4.89 crore in H1 FY26, and basic EPS was ₹0.95 against ₹0.70. The first-half results were approved by the board and covered by a limited review report from the statutory auditors.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 61.14 | 46.66 | +31.0% |
| Profit before tax | 9.69 | 6.92 | +40.0% |
| Net profit | 7.59 | 4.89 | +55.2% |
| EPS (₹) | 0.95 | 0.70 | +35.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹234.5 crore, compared with ₹217.88 crore at 31 March 2026. Total equity rose to ₹149.33 crore from ₹140.57 crore, while inventories fell to ₹20.83 crore from ₹25.76 crore and trade receivables rose to ₹26.69 crore from ₹21.28 crore.
Borrowings declined to ₹7.22 crore from ₹11.09 crore, and cash and cash equivalents increased to ₹2.60 crore from ₹0.64 crore. Trade payables rose to ₹9.40 crore from ₹7.83 crore at the previous balance-sheet date.
H1 FY27 operating cash flow was ₹32.25 crore, compared with ₹0.76 crore in H1 FY26. Investing cash flow was negative ₹35.08 crore against negative ₹8.59 crore, financing cash flow was ₹4.79 crore against ₹49.40 crore, and capital expenditure was ₹35.54 crore compared with no reported capital expenditure.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 234.50 | 217.88 |
| Total equity | 149.33 | 140.57 |
| Borrowings | 7.22 | 11.09 |
| Cash and equivalents | 2.60 | 0.64 |
| Inventories | 20.83 | 25.76 |
| Trade receivables | 26.69 | 21.28 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 32.25 | 0.76 |
| Cash from investing | −35.08 | −8.59 |
| Cash from financing | 4.79 | 49.40 |
| Capital expenditure | 35.54 | 0 |
Source: Company's results filing (XBRL).
How has RIR Power Electronics done over the last 8 quarters?
Revenue rose to ₹33.98 crore in Q2 FY27 from ₹27.16 crore in Q1 FY27 and was the highest in the eight-quarter series. The previous revenue low was ₹19.87 crore in Q3 FY25, while net profit bottomed at ₹0.44 crore in Q3 FY26.
Net profit increased to ₹4.45 crore in Q2 FY27 from ₹3.14 crore in Q1 FY27. It had reached ₹3.15 crore in Q2 FY26 before falling to ₹0.44 crore in Q3 FY26 and then recovering in the following quarters.
The EBITDA margin was 13.6% in Q2 FY27, below 14.7% in Q1 FY27. It had peaked at 17.0% in Q2 FY26 and bottomed at 4.3% in Q3 FY26. Revenue and profit each rose year on year in each of the last two quarters.
What did RIR Power Electronics' management say?
Management said the order backlog at the end of Q2 was almost ₹39 crores, supporting the current quarterly revenue base. It expects ₹12 crores to ₹15 crores of SiC epitaxy revenue over the next four to six months and targets commercial production for November–December 2026, subject to statutory clearances.
The company said the Odisha project would proceed in two phases, with epitaxy and packaging in phase 1 and fabrication in phase 2. Management said packaging work was expected to begin after bank approval and complete in approximately nine to twelve months, while certain bottleneck operations were running at about 90%.
Management indicated that Q2 revenue should form the FY27 base, with scope for further improvement, and expected at least 70%–80% growth in railway quantity and value over last year. It said letters of intent covered about 90% of initial epitaxy capacity, with two reactors installed initially.
Management identified pending Odisha building and fire clearances, bank approval for packaging, field reliability proof and customer acceptance, and possible conversion of letters of intent as risks. It declined company-wide revenue, EBITDA and FY27-28 guidance despite repeated analyst requests, stating: “No, we don't give the forward-looking statements.”
How did RIR Power Electronics shares react?
After the filing, the stock moved by -0.1% after five minutes, 3.3% after 15 minutes and 4.0% after 30 minutes. It closed 3.3% lower on the reaction day from the previous close of ₹149.0 and remained 3.3% lower by the next day's close.
By the fifth session, the stock was down 10.4% from the pre-results close. The Other Electrical Equipment industry median rose 2.4% on the reaction day, 1.8% by the next day and 2.4% by the fifth day, leaving RIR Power Electronics 5.7 percentage points behind the industry on the reaction day and 12.8 percentage points behind by the fifth session.
Earlier results-day reactions were positive, with the stock up 10.5% on 10 August 2026 and down 1.8% on 28 May 2026.
| After the filing | Stock | Other Electrical Equipment median |
|---|---|---|
| 5 minutes | −0.1% | |
| 15 minutes | +3.3% | |
| 30 minutes | +4.0% | |
| Reaction day | −3.3% | +2.4% |
| Next day | −3.3% | +1.8% |
| 5 days | −10.4% | +2.4% |
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 |
|---|---|
| 10 August 2026 | +10.5% |
| 28 May 2026 | −1.8% |
Source: MarketPing price-reaction measurement.
How did other Other Electrical Equipment companies do?
Nineteen other Other Electrical Equipment companies had filed for the quarter, and their median revenue growth was 43.3%. Six peers grew more slowly than RIR Power Electronics, while 13 grew faster than the company.
Of the 17 peers for which profit was compared, 11 reported higher profit.
| RIR Power Electronics revenue growth (YoY) | +32.5% |
|---|---|
| Median of 19 other Other Electrical Equipment companies | +43.3% |
| Companies with slower revenue growth than RIR Power Electronics | 6 of 19 |
| Companies with faster revenue growth than RIR Power Electronics | 13 of 19 |
| Companies whose net profit rose | 11 of 17 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was RIR Power Electronics' revenue in Q2 FY27?
Revenue from operations was ₹33.98 crore, up 32.5% from ₹25.64 crore in Q2 FY26 (standalone).
Did RIR Power Electronics make a profit in Q2 FY27?
Yes. Net profit was ₹4.45 crore, against a net profit of ₹3.15 crore in Q2 FY26.
What was RIR Power Electronics' EPS in Q2 FY27?
Basic earnings per share were ₹0.56, against ₹0.47 in Q2 FY26.
How did RIR Power Electronics shares react to the Q2 FY27 results?
On the reaction day the stock moved −3.3% from the previous close; the median Other Electrical Equipment stock moved +2.4%.
When did RIR Power Electronics announce its Q2 FY27 results?
On 26 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Declaration Of Un-Audited Standalone Financial Results For The Second Quarter And Half Year Ended 30Th September, 2026 (Q2). (BSE, 21 October 2026) · PDF
- Board Meeting Outcome for Standalone Un-Audited Financial Results For The Second Quarter And Half Year Ended 30Th September, 2026 (BSE, 26 October 2026) · PDF
- The earnings call (3 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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