Trishakti Industries Q2 FY27 results: net profit ₹5.23 crore vs ₹1.59 crore, revenue up 134.1%

How did Trishakti Industries perform in Q2 FY27?

Trishakti Industries reported consolidated Q2 FY27 revenue of ₹15.57 crore, up 134.1% from ₹6.65 crore in Q2 FY26 and 8.3% from ₹14.38 crore in Q1 FY27. EBITDA was ₹9.50 crore, compared with ₹3.90 crore a year earlier and ₹8.44 crore in the previous quarter; the EBITDA margin was 61.0%, up 2.3 percentage points year on year and from Q1 FY27.

Consolidated net profit was ₹5.23 crore, up from ₹1.59 crore in Q2 FY26 and ₹4.29 crore in Q1 FY27. Profit before tax was ₹6.56 crore and basic EPS was ₹3.13. The net profit margin was 33.6%, compared with 23.9% a year earlier and 29.8% in the previous quarter. On a standalone basis, revenue was ₹15.51 crore and profit after tax was ₹5.19 crore.

What changed in Trishakti Industries' costs and profit?

Total expenses rose to ₹12.27 crore in Q2 FY27 from ₹4.55 crore in Q2 FY26, an increase of ₹7.72 crore. Employee cost increased by ₹2.77 crore to ₹4.02 crore, finance costs by ₹1.39 crore to ₹2.15 crore, depreciation by ₹3 crore to ₹4.04 crore and other expenses by ₹0.55 crore to ₹2.05 crore. Cost of materials consumed remained unchanged.

Other income increased by ₹3.22 crore, from ₹0.04 crore in Q2 FY26 to ₹3.26 crore in Q2 FY27. Tax expense increased by ₹0.78 crore to ₹1.33 crore. There was no exceptional item in Q2 FY27. Against Q1 FY27, other income rose by ₹0.84 crore, while tax expense rose by ₹0.25 crore.

How did the first half of FY27 go?

For H1 FY27, consolidated revenue was ₹29.95 crore, up 179.1% from ₹10.73 crore in H1 FY26, and total income was ₹35.63 crore, up 230.2% from ₹10.79 crore. Profit before tax rose to ₹11.93 crore from ₹3.32 crore, while net profit increased to ₹9.52 crore from ₹2.47 crore. Basic EPS was ₹5.70, compared with ₹1.52 a year earlier.

What do the balance sheet and cash flow show?

Total assets increased to ₹400.25 crore at 30 September 2026 from ₹289.15 crore at 31 March 2026. Total equity was ₹58.65 crore, compared with ₹44.72 crore, while borrowings declined to ₹77.62 crore from ₹85.21 crore. Cash rose to ₹3.06 crore from ₹1.13 crore, and trade receivables were ₹22.82 crore against ₹20.2 crore previously.

H1 FY27 operating cash flow was ₹74.83 crore, compared with ₹51.53 crore in H1 FY26. Investing cash flow was negative ₹101.04 crore against negative ₹63.57 crore, financing cash flow was ₹28.14 crore against ₹17.14 crore, and capital expenditure was ₹101.28 crore compared with ₹65.79 crore.

How has Trishakti Industries done over the last 8 quarters?

Revenue rose in each of the last five quarters year on year, and profit also rose year on year in each of the last five quarters. Revenue increased from ₹1.57 crore in Q3 FY25 to ₹15.57 crore in Q2 FY27, while net profit moved from ₹0.01 crore to ₹5.23 crore over the same period.

The EBITDA margin peaked at 69.6% in Q3 FY26 and fell to 34.9% in Q4 FY26 before recovering to 61.0% in Q2 FY27. In the latest quarter, revenue increased from ₹14.38 crore in Q1 FY27, and net profit rose from ₹4.29 crore.

What else did the company announce?

The board considered and approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, together with the statutory auditors’ limited review report. The board meeting on 22 October 2026 began at 1:30 p.m. and concluded at 2:40 p.m. The same-day investor presentation set out the FY30 gross block ambition of ₹1,000 crore; the excerpts filed with the results do not state any dividend, fund raise or appointment.

What did Trishakti Industries' management say?

Management said FY27 core-revenue guidance remained at INR 60-65 crore, while current ARR was about INR 78 crore and could reach about INR 120 crore by Q3 FY28 after equipment deployment. Management maintained that FY27 gross block would exceed INR 400 crore, with the outcome potentially reaching INR 500 crore depending on machine-delivery timing, and expected potential revenue of around INR 300 crore by FY29 or FY30 if demand remained strong.

Management said Mission 2030 targets cumulative gross block above INR 1,000 crore by FY30, supported by INR 600-700 crore of additional capital expenditure over the next three years. About INR 370 crore, including more than 90% of the FY25-FY27 programme, had been deployed, and another INR 125 crore of wind capital expenditure was planned. Management prioritised debt funding over equity and expected peak net debt of INR 400-500 crore through FY30, with no deleveraging over the next 2-3 quarters.

Management said fleet utilisation was currently 100% and needed to remain above 90% during expansion. It identified debt-trap risk if expansion and debt repayment were not kept in balance, potential pressure on margins as equipment aged or demand shifted, concentrated demand in Gujarat and Odisha, and elevated receivable days until legacy family-settlement amounts and billing normalised. Management expected debtor days to normalise to roughly 60-65 days by end-FY27 and said yields were not expected to improve immediately.

How did Trishakti Industries shares react?

The stock moved from ₹285.0 before the results to a reaction-day close 1.4% higher. It rose 3.5% within 5 minutes, 4.6% within 15 minutes and 3.2% within 30 minutes. By the next day’s close, it was down 4.0% from the pre-results close, while the industry median was down 3.5%; by the fifth session, it was up 3.5% from the pre-results close, against an industry median down 1.1%.

Earlier reaction-day moves were 5.4% on 22 July 2026, negative 6.7% on 27 April 2026 and 0.0% on 19 January 2026. Other recorded moves were 1.7% on 6 November 2025, negative 2.7% on 23 July 2025 and 2.5% on 28 April 2025.

How did other Diversified Commercial Services companies do?

Twenty-four other Diversified Commercial Services companies were compared. Their median revenue growth was 15.6%, while 23 peers grew slower than Trishakti Industries and one peer grew faster. Of the 30 peers for which profit was compared, 18 reported higher profit.