Om Power Q2 FY27: standalone PAT +117% YoY to ₹13.85 Cr as margins beat guidance

Om Power Transmission's standalone Q2 FY27 (quarter ended Sept 30, 2026) print is a strong beat-and-expand result: revenue rose 56.4% YoY to ₹128.29 Cr (₹82.01 Cr a year ago) and 5.5% QoQ (₹121.63 Cr in Q1 FY27), ahead of the >50% FY27 revenue growth management guided on the Q4 FY26 concall. PAT more than doubled YoY to ₹13.85 Cr (+116.7% from ₹6.39 Cr) and rose 31.6% QoQ from ₹10.52 Cr, with no exceptional items on either side of the comparison — the P&L shows a straightforward operating improvement, not a one-off. Margins expanded on both counts: OPM (EBITDA margin) widened to ~15.3% from ~11.3% YoY and ~12.2% QoQ, and NPM rose to 10.70% from 7.73% YoY and 8.59% QoQ — both above the 12-13% EBITDA and 8-9% PAT margin bands management guided for FY27, helped by Cost of Materials and Project Related expenses growing slower than revenue even as Finance costs rose (₹2.38 Cr vs ₹1.70 Cr YoY) on a larger working-capital base post-IPO. No formal Street consensus could be found for this quarter — Om Power listed on NSE/BSE only in April 2026 and carries limited brokerage coverage — so vsStreet is unknown; the only available benchmark is management's own Q4 FY26 outlook, which this quarter beat on both growth and margins. On a half-year basis, H1 FY27 revenue of ₹249.93 Cr is up 45.2% YoY and PAT of ₹24.37 Cr is up 65.4% YoY — tracking a touch under the full-year >50% revenue guide, though Q2 alone (56.4% YoY) suggests the growth rate is accelerating rather than slipping. The quarter's order intake was heavy but mostly booked just after the September 30 cut-off: a ₹101.56 Cr UGVCL contract (Oct 14), a ₹78.84 Cr transmission line LOI (Oct 7), a ₹69.18 Cr GETCO order and a ₹60.48 Cr AIS substation win (both Oct 6) — none of which feed this quarter's revenue but set up the order book management will likely cite for H2. The company also incorporated a wholly-owned subsidiary, OPTL Green Energy Private Limited, on October 5, 2026, flagging a renewables-adjacent push not yet reflected in these standalone numbers. No separate management press release accompanied this filing beyond the standard board-outcome intimation.