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Sathlokhar Synergys E&C Global Q2 FY27 results: net profit ₹29.25 crore, revenue up 19.2%
Sathlokhar Synergys E&C Global Limited reported standalone Q2 FY27 revenue of ₹296.71 crore, up 19.2% from Q2 FY26, while EBITDA rose to ₹44.24 crore and profit after tax was ₹29.25 crore. Against Q1 FY27, revenue rose 44.9%, EBITDA increased 47.7% and profit after tax rose 36.6%; the company maintained FY27 revenue growth guidance of approximately 70%.
Key points
- Q2 FY27 standalone revenue was ₹296.71 crore, up 19.2% from Q2 FY26 and 44.9% from Q1 FY27.
- EBITDA was ₹44.24 crore in Q2 FY27, with a 14.9% margin, compared with ₹36.95 crore and 14.8% in Q2 FY26.
- Profit after tax was ₹29.25 crore in Q2 FY27, compared with ₹21.41 crore in Q1 FY27; basic EPS was ₹11.26.
- Total expenses increased to ₹258.99 crore from ₹213.32 crore in Q2 FY26, while finance costs rose to ₹6.20 crore from ₹1.28 crore.
- The order book was ₹1,139 crore as of 30 September 2026, while management said FY27 revenue growth guidance remained approximately 70%.
How did Sathlokhar Synergys E&C Global perform in Q2 FY27?
Sathlokhar Synergys E&C Global reported standalone revenue of ₹296.71 crore for Q2 FY27, up ₹47.72 crore or 19.2% from Q2 FY26’s ₹248.99 crore. Against Q1 FY27, revenue rose ₹91.90 crore or 44.9% from ₹204.81 crore. The investor presentation stated revenue from operations of ₹297 crore and reported an order book of ₹1,139 crore as of 30 September 2026.
EBITDA was ₹44.24 crore, compared with ₹36.95 crore in Q2 FY26 and ₹29.96 crore in Q1 FY27. The EBITDA margin was 14.9%, compared with 14.8% in Q2 FY26 and 14.6% in Q1 FY27. The company reported a net profit of ₹29.25 crore for Q2 FY27, compared with ₹21.41 crore in Q1 FY27, and basic EPS of ₹11.26 versus ₹8.24 in Q1 FY27.
Profit before tax was ₹39.04 crore in Q2 FY27, up from ₹36.90 crore in Q2 FY26 and ₹28.63 crore in Q1 FY27. The investor presentation also showed H1 FY27 revenue from operations of ₹502 crore, EBITDA of ₹74 crore and PAT of ₹51 crore, against H1 FY26 figures of ₹271 crore, ₹32 crore and ₹14 crore respectively.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 296.71 | 204.81 | 248.99 | +19.2% | +44.9% |
| Other income | 1.47 | 1.39 | 1.22 | +20.5% | +5.8% |
| Total expenses | 258.99 | 177.56 | 213.32 | +21.4% | +45.9% |
| EBITDA | 44.24 | 29.96 | 36.95 | +19.7% | +47.7% |
| EBITDA margin | 14.9% | 14.6% | 14.8% | +0.1 pp | +0.3 pp |
| Profit before tax | 39.04 | 28.63 | 36.90 | +5.8% | +36.4% |
| Tax | 9.79 | 7.22 | 8.92 | +9.8% | +35.6% |
| Net profit | 29.25 | 21.41 | +36.6% | ||
| EPS (₹) | 11.26 | 8.24 | 11.59 | −2.8% | +36.7% |
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 Sathlokhar Synergys E&C Global's costs and profit?
Total expenses rose ₹45.67 crore or 21.4% year on year to ₹258.99 crore. Employee cost fell ₹0.70 crore or 4.6% to ₹14.39 crore, while other expenses declined ₹2.24 crore or 36.7% to ₹3.87 crore. Other income increased ₹0.25 crore or 20.5% to ₹1.47 crore. The supplied cost-of-materials comparison shows a fall of ₹190.02 crore to ₹0 crore in the reported data.
Finance costs increased ₹4.92 crore or 384.4% year on year to ₹6.20 crore, compared with ₹2.48 crore in Q1 FY27. The company recorded a ₹0.15 crore exceptional-item charge, against no exceptional item in the previous quarter, and tax increased ₹0.87 crore or 9.8% to ₹9.79 crore from ₹8.92 crore in Q2 FY26.
The investor presentation reported Q2 FY27 raw material of ₹234 crore, employee cost of ₹14 crore, other expenses of ₹4 crore, other income of ₹1 crore and depreciation of ₹0 crore. The filing also reported gross profit of ₹62 crore and gross profit margin of 21.1% for Q2 FY27, against gross profit of ₹29 crore and gross profit margin of 19.7% in Q2 FY26.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 190.02 | −190.02 | |
| Employee cost | 14.39 | 15.09 | −0.70 | −4.6% |
| Finance costs | 6.20 | 1.28 | +4.92 | +384.4% |
| Other expenses | 3.87 | 6.11 | −2.24 | −36.7% |
| Total expenses | 258.99 | 213.32 | +45.67 | +21.4% |
| Other income | 1.47 | 1.22 | +0.25 | +20.5% |
| Tax | 9.79 | 8.92 | +0.87 | +9.8% |
| Exceptional items | −0.15 (charge) | none |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets increased to ₹839.47 crore as of 30 September 2026 from ₹671.58 crore as of 31 March 2026. Total equity rose to ₹409.39 crore from ₹358.92 crore, while borrowings increased to ₹234.21 crore from ₹89.75 crore. Cash and cash equivalents fell to ₹0.32 crore from ₹3.46 crore. Inventories declined to ₹125.19 crore from ₹138.39 crore, while trade receivables increased to ₹97.10 crore from ₹76.84 crore and trade payables rose to ₹152.77 crore from ₹135.30 crore.
In the first half of FY27, operating cash flow was negative ₹102.15 crore, compared with negative ₹26.56 crore in H1 FY26. Investing cash flow was negative ₹36.66 crore against positive ₹0.50 crore, while financing cash flow was positive ₹135.67 crore against positive ₹26.35 crore. Capital expenditure was ₹39.52 crore in H1 FY27, compared with ₹0.22 crore in H1 FY26. H1 FY27 revenue was ₹501.51 crore, total income was ₹504.37 crore, PBT was ₹67.67 crore and PAT was ₹50.65 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 839.47 | 671.58 |
| Total equity | 409.39 | 358.92 |
| Borrowings | 234.21 | 89.75 |
| Cash and equivalents | 0.32 | 3.46 |
| Inventories | 125.19 | 138.39 |
| Trade receivables | 97.10 | 76.84 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −102.15 | −26.56 |
| Cash from investing | −36.66 | 0.50 |
| Cash from financing | 135.67 | 26.35 |
| Capital expenditure | 39.52 | 0.22 |
Source: Company's results filing (XBRL).
How has Sathlokhar Synergys E&C Global done over the last 6 quarters?
Revenue reached a high of ₹296.71 crore in Q2 FY27, above ₹277.37 crore in Q4 FY26 and ₹204.81 crore in Q1 FY27. The lowest revenue in the reported series was ₹189.33 crore in Q3 FY26. The current direction was higher, with revenue rising from Q1 FY27 to Q2 FY27.
The EBITDA margin was 14.9% in Q2 FY27, compared with 15.4% at its peak in Q4 FY26 and 14.4% at its low in Q3 FY26. PAT was ₹29.25 crore in Q2 FY27, up from ₹21.41 crore in Q1 FY27 and below ₹30.26 crore in Q4 FY26. The latest reported quarter therefore showed higher revenue and profit than the preceding quarter, with margin slightly above Q1 FY27.
What else did the company announce?
The board approved the unaudited standalone financial results for the quarter and half year ended 30 September 2026, along with the statutory auditors’ limited review report. It also considered a statement of deviations in respect of the proceeds of the preferential issue for the quarter ended 30 September 2026. The filing did not include a dividend announcement.
The board approved re-appointment of Gopalakrishnan Thiyagu as Chairman and Managing Director, Thiyagu Sangeethaa as Whole Time Director cum Chief Operating Officer and Balasubramaniam Sivasubramanian as Whole Time Director cum Chief Technical Officer for a further 3 years from 15 February 2027 to 14 February 2030, subject to shareholder approval through postal ballot. It also approved an increase in the borrowing limit and creation of mortgage or charge on the company’s assets, properties or undertakings.
What did Sathlokhar Synergys E&C Global's management say?
Management said the existing order book was expected to convert progressively into revenue over the coming quarters, supported by typical 5-6 month civil and PEB cycles and 7-9 month MEP cycles. The company also stated a long-term ambition of at least 50% year-on-year annual growth from FY28, plans one new PEB manufacturing facility annually over the next five years, and expects FY28 funding to require additional bank debt and/or an NCD.
Management identified execution, procurement, manpower, subcontractor, site-readiness, cost, quality and working-capital requirements as risks. It also said PEB commercialisation depends on statutory approvals, utilisation and market demand, while order conversion depends on customer decisions, project approvals and commercial viability. The Chairman and Managing Director said: “We recognize that winning orders is only one part of the journey. Delivering them efficiently and building lasting customer relationships is what will ultimately determine the quality and sustainability of our business growth.”
How did Sathlokhar Synergys E&C Global shares react?
The stock moved higher after the filing appeared, rising 2.4% after 5 minutes, 2.9% after 15 minutes and 4.0% after 30 minutes from the price at filing. On the reaction day, it fell 0.3% from the previous close of ₹361.00. By the next day's close, the stock was down 3.0% from its pre-results close.
The Nifty Microcap 250 fell 2.5% on the reaction day and 1.1% by the next day's close. The company therefore underperformed the nearest market benchmark on both measures. No industry median reaction or five-session move was provided, and there were no earlier results-day reactions in the supplied data.
| After the filing | Stock |
|---|---|
| 5 minutes | +2.4% |
| 15 minutes | +2.9% |
| 30 minutes | +4.0% |
| Reaction day | −0.3% |
| Next day | −3.0% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
Quick answers
What was Sathlokhar Synergys E&C Global's revenue in Q2 FY27?
Revenue from operations was ₹296.71 crore, up 19.2% from ₹248.99 crore in Q2 FY26 (standalone).
Did Sathlokhar Synergys E&C Global make a profit in Q2 FY27?
Yes. Net profit was ₹29.25 crore.
What was Sathlokhar Synergys E&C Global's EPS in Q2 FY27?
Basic earnings per share were ₹11.26, against ₹11.59 in Q2 FY26.
How did Sathlokhar Synergys E&C Global shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.3% from the previous close.
When did Sathlokhar Synergys E&C Global announce its Q2 FY27 results?
On 30 October 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 30 October 2026) · PDF
- General Updates (NSE, 2 November 2026) · PDF
- The earnings call (2 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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