Triveni Power Transmission Q2 FY27 results: net profit ₹26.06 crore

How did Triveni Power Transmission perform in Q2 FY27?

Triveni Power Transmission reported consolidated revenue of ₹116.16 crore for Q2 FY27, up 60.0% from ₹72.62 crore in Q1 FY27. Total income rose 61.2% to ₹119.28 crore from ₹74.00 crore, while other income increased to ₹3.12 crore from ₹1.38 crore. No year-ago quarter figures were provided in the facts, so the filed comparison is with the previous quarter.

Consolidated EBITDA was ₹38.79 crore in Q2 FY27, up 60.4% from ₹24.18 crore in Q1 FY27, and the EBITDA margin increased 0.1 percentage point to 33.4%. Profit before tax rose 82.8% to ₹35.66 crore from ₹19.51 crore, while tax expense was ₹9.60 crore. There was no exceptional item in the quarter.

Profit after tax increased 79.0% to ₹26.06 crore from ₹14.56 crore in Q1 FY27, and basic EPS rose 79.1% to ₹2.49 from ₹1.39. Profit attributable to owners was reported at ₹0 crore. On the standalone basis, revenue was ₹116.16 crore and profit after tax was ₹28.38 crore.

What do the balance sheet and cash flow show?

At 30 September 2026, the consolidated balance sheet showed total assets of ₹637.06 crore, total equity of ₹491.61 crore, borrowings of ₹1.41 crore and cash of ₹49.77 crore. Inventories were ₹66.62 crore, trade receivables ₹146.20 crore and trade payables ₹30.08 crore. The facts did not provide a previous balance-sheet date for comparison.

For H1 FY27, operating cash flow was ₹43.97 crore and investing cash flow was negative ₹19.31 crore, while financing cash flow was negative ₹0.61 crore. Capital expenditure during the half-year was ₹31.33 crore. The facts did not provide cash-flow comparisons with the year-earlier period.

What else did the company announce?

The board approved the unaudited standalone and consolidated financial results for Q2 FY27 and H1 FY27 on 23 October 2026, together with the statutory auditors’ limited review reports and the newspaper publication. The results filing contained no dividend or fund-raising announcement.

The board also appointed Sanjay Grover & Associates as secretarial auditor for five consecutive financial years, from FY 2026-27 to FY 2030-31, subject to shareholder approval. The company’s equity shares were admitted for trading on the National Stock Exchange of India and BSE on 12 October 2026.

What did the auditors point out?

The limited review report on the standalone results stated that nothing had come to the auditors’ attention causing them to believe that the statement did not disclose the required information or contained a material misstatement. The auditors noted that this was a review under SRE 2410, providing moderate rather than audit assurance, and they did not express an audit opinion.

The auditors included an Emphasis of Matter concerning the Composite Scheme of Arrangement. They drew attention to the demerger and vesting of the Power Transmission Business undertaking of Triveni Engineering & Industries Limited with effect from 1 April 2026, the Pooling of Interest method under Appendix C of Ind AS 103, and the restatement of comparative periods as if the demerger had occurred from 1 April 2025. Their conclusion was not modified in respect of this matter.

The audit report also set out management’s responsibility for assessing the Group’s ability to continue as a going concern and the auditors’ responsibility to conclude on the appropriateness of that basis. The excerpts did not report a qualified opinion or identify a material uncertainty related to going concern.

What did Triveni Power Transmission's management say?

Management said the closing order book rose 57% year on year to ₹626 crores, while H1 bookings increased 95% to ₹330 crores. Export product bookings tripled from ₹12 crores in Q1 FY27 to ₹36 crores in Q2 FY27. Management also said the aftermarket and defence businesses were growing, and that these segments were reducing dependence on product-cycle timing.

Management set an ambition of over 25% annual growth over the next five to seven years and said it wanted to maintain EBITDA margins of 35% or more over the medium to long term. It explicitly said the growth ambition was not an FY27 forecast, and provided no FY27 revenue, margin or utilisation forecast.

Management described Q3 and Q4 FY27 as encouraging across product, aftermarket and defence. It said FY27 order-book revenue included ₹156 crores from gears and ₹81 crores from defence, without a quarterly allocation. Management also said the ₹340 crores capability programme was largely complete and that near- and medium-term capital expenditure would cover balancing, routine needs and small capacity enhancements rather than substantial expansion.

Management identified quarterly revenue variability, lumpy defence revenue, Middle East geopolitical and energy-price risks, product mix and cost pressures, and working-capital swings as risks. It said a new capacity-expansion cycle would be considered when utilisation reaches approximately 80–85%. Mr Tarun Sawhney said, “we do not want to mechanically translate this into quarterly revenues, because our business is engineered to order”.

How did Triveni Power Transmission shares react?

The filing appeared after market hours, with the price unchanged in the first 30 minutes. On the reaction day, the stock fell 5.0% from its pre-results close of ₹649.80; the prior close was ₹684.00.