SPR Auto Technologies Q2 FY27 results: net profit up 14.2% to ₹162.30 crore, revenue up 62.1%

How did SPR Auto Technologies perform in Q2 FY27?

SPR Auto Technologies reported consolidated revenue of ₹1,648 crore for Q2 FY27, up ₹631.70 crore or 62.1% from ₹1,016 crore in Q2 FY26. EBITDA rose ₹66.60 crore or 32.1% to ₹273.90 crore, but its margin declined 3.8 percentage points to 16.6%. Net profit increased ₹20.20 crore or 14.2% to ₹162.30 crore, and basic EPS rose to ₹35.13 from ₹31.76.

Against Q1 FY27, revenue increased ₹173.80 crore or 11.8% to ₹1,648 crore. EBITDA rose ₹15.90 crore or 6.2% to ₹273.90 crore, while the margin fell 0.9 percentage points to 16.6%. Profit before tax rose ₹17.70 crore or 9.1% to ₹212.90 crore, and net profit increased ₹14.60 crore or 9.9% to ₹162.30 crore.

On a standalone basis, Q2 FY27 revenue was ₹1,026.20 crore and profit was ₹118.90 crore. The Board had approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026.

What changed in SPR Auto Technologies' costs and profit?

Total expenses rose ₹611.40 crore or 71.9% to ₹1,461.70 crore from Q2 FY26, outpacing the increase in revenue. Cost of materials was ₹859.80 crore, up ₹439.30 crore or 104.5%; employee cost rose ₹36.70 crore or 26.2% to ₹176.80 crore; and other expenses increased ₹95.50 crore or 43.0% to ₹317.80 crore.

Finance costs increased ₹23.40 crore or 275.3% to ₹31.90 crore from ₹8.50 crore, while depreciation rose ₹22.90 crore or 70.2% to ₹55.50 crore. Other income was ₹26.40 crore, up ₹0.20 crore or 0.8% from ₹26.20 crore, and tax expense rose ₹0.30 crore or 0.6% to ₹50.60 crore.

There was no exceptional item. Management said commodity-price movements, direct-material costs, a change in sales mix and revised minimum wages affected margins. It also said finance costs were elevated because of the Antolin acquisitions and were expected to normalise as debt was repaid.

How did the first half of FY27 go?

For H1 FY27, consolidated revenue rose 57.7% to ₹3,122.60 crore from ₹1,979.80 crore in H1 FY26. Total income increased 56.0% to ₹3,173.80 crore, while profit before tax rose 8.7% to ₹408.10 crore.

H1 FY27 net profit rose 11.9% to ₹310.00 crore from ₹277.00 crore, and basic EPS increased 9.4% to ₹67.94 from ₹62.11. The company said the first-half result was affected by commodity-price pressures, supply disruptions, minimum-wage revisions, a change in sales mix and elevated acquisition-related finance costs.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets were ₹6,836.10 crore, up from ₹6,152.60 crore at 31 March 2026, while total equity rose to ₹4,302.90 crore from ₹3,018.20 crore. Borrowings fell to ₹1,242.40 crore from ₹1,866.70 crore, and cash increased to ₹168.20 crore from ₹104.70 crore.

Inventories rose to ₹757.60 crore from ₹623.70 crore, trade receivables increased to ₹945.90 crore from ₹833.00 crore, and trade payables were ₹683.40 crore against ₹682.60 crore. H1 FY27 operating cash flow was ₹198.10 crore, below ₹273.60 crore in H1 FY26.

Investing cash flow for H1 FY27 was an outflow of ₹409.10 crore, compared with an outflow of ₹256.60 crore in H1 FY26, while financing cash flow was ₹274.50 crore against an outflow of ₹19.30 crore. Capital expenditure was ₹144.20 crore, up from ₹85.40 crore.

How has SPR Auto Technologies done over the last 8 quarters?

Revenue increased in each of the last eight quarters on a year-on-year basis and reached ₹1,648 crore in Q2 FY27, the highest level in the period shown. Net profit also rose year on year in each of the last eight quarters and reached ₹162.30 crore, while revenue growth continued from ₹1,474.40 crore in Q1 FY27.

The EBITDA margin peaked at 21.3% in Q4 FY25 and fell to 16.6% in Q2 FY27, the lowest level in the period shown. Net profit declined from ₹159.10 crore in Q4 FY26 to ₹147.70 crore in Q1 FY27 before rising to ₹162.30 crore in the latest quarter. Revenue has continued to rise, but the margin trend has remained downward.

What else did the company announce?

On 30 October 2026, the Board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. The filing also included the statutory auditors’ limited review report, line-item disclosures, a statement under Regulations 52(7) and 52(7A), a security cover certificate and a statement on the use of proceeds of a Qualified Institutional Placement.

On 31 October 2026, the company filed its investor presentation for the quarter and half year ended 30 September 2026. The presentation said consolidated total income rose 61% year on year in Q2 FY27 and 56% in H1 FY27, with more than 35% of revenue coming from powertrain-agnostic products.

What did SPR Auto Technologies' management say?

Management maintained its view that the domestic automotive market will grow at approximately 7%-8% CAGR over the next two to three years. It expects growth over the next two years to moderate toward roughly 7%-8% CAGR rather than repeat the recent 17%-20% rate.

Management said precision-plastic ABS supplies for two-wheelers are expected to begin by April 2027 from expanded Neemrana capacity. It described planned FY27 spending across legacy, EV, plastics and interiors businesses as sizable, but did not provide a numerical capex plan.

Management said most acquisition-related debt has been closed and finance costs should improve from Q3 FY27. It said no additional debt or equity raise is planned at present, subject to future acquisition requirements. Powertrain-agnostic products account for more than 35% of consolidated revenue, and nearly 60% of the business is relatively insulated from shifts in powertrain technology.

Management identified commodity volatility, supply disruptions, the one-quarter lag in raw-material pass-through, higher employee costs, acquisition finance costs and rising EV penetration as risks. It said new programme wins and firm orders across the group were supporting future revenue visibility.

How did SPR Auto Technologies shares react?

The result was filed after market. The stock was up 0.2% after five minutes, then down 0.9% after 15 minutes and 1.5% after 30 minutes. It closed the reaction day down 2.8% from the pre-results close, against a 1.6% rise for the median other stock in Auto Components & Equipments.

By the next day's close, the stock was down 0.4% cumulatively from its pre-results close. The Nifty Smallcap 250 rose 1.4% on the reaction day and 1.8% by the next close, while the industry median rose 1.6% and 2.6%, respectively. SPR Auto Technologies therefore trailed the industry median by 4.4 percentage points on the reaction day and 3.0 percentage points by the next day's close.

Past reaction-day moves were mixed: the stock rose 0.1% on 4 August 2026 and fell 5.2% on 11 May 2026. Earlier reactions included gains of 7.3% on 2 February 2026 and 12.6% on 7 May 2025, and declines of 3.1% on 4 November 2025 and 0.2% on 3 February 2025.

How did other Auto Components & Equipments companies do?

Sixty Auto Components & Equipments companies had filed for the quarter, with a median revenue growth of 32.6%. Of the peers whose revenue growth could be compared, 56 grew more slowly than SPR Auto Technologies and four grew faster. Among the 61 peers for which profit was compared, 47 reported higher profit.

SPR Auto Technologies reported 62.1% consolidated revenue growth in Q2 FY27, compared with the peer median of 32.6%. The peer counts cover companies that had filed by 6 November 2026 and exclude SPR Auto Technologies.