TGV Sraac Q2 FY27: standalone PAT up 50% YoY to ₹55.7 Cr as power-cost savings lift margins

TGV Sraac's standalone PAT for Q2 FY27 rose 50.4% YoY to ₹55.72 Cr (₹37.05 Cr) on revenue from operations of ₹590.47 Cr, up 18.1% YoY (₹499.94 Cr); sequentially PAT grew 22.7% QoQ and revenue 8.7% QoQ (₹543.08 Cr, ₹45.42 Cr in Q1 FY27). Profit growing nearly 3x faster than revenue YoY reflects genuine margin expansion rather than a one-off — there were no exceptional items in either the current or year-ago quarter, so the 50.4% PAT growth is also the adjusted/underlying figure. Net profit margin expanded to 9.34% of total income from 7.36% a year ago, and operating margin to 18.78% from 18.59%, driven mainly by power and fuel cost falling to 19.9% of revenue from 22.6% YoY — consistent with the company's solar capacity expansion during the quarter (added 2.5 MWp and then 5 MWp, taking installed solar capacity to 70.40 MWp per its September 2026 disclosures). This offset a rise in raw-material cost intensity, with cost of materials consumed climbing to 37.8% of revenue from 31.4% YoY. The core Chemicals segment (97% of revenue) grew revenue 16.6% YoY to ₹573.72 Cr with segment PBIT margin expanding to 13.7% from 11.4%, while the much smaller Oils & Fats segment narrowed its loss to ₹1.35 Cr from ₹1.84 Cr on revenue up 71.6% YoY off a small base. Basic EPS for the quarter was ₹5.20 against ₹4.25 in Q1 FY27 and ₹3.47 a year ago. There is no analyst consensus or brokerage preview available for this small-cap name (no estimates found in a web search), so vs-Street cannot be assessed; similarly, the company has given no formal prior guidance or concall commentary in our records, so the quarter cannot be graded against a management-set bar — this print should be read purely on its own YoY/QoQ trajectory. No management press release accompanied the filing beyond the standard board-outcome letter. The Q2 developments on record — the solar capacity additions and a shareholder-approved MOA object-clause alteration (broadening permitted business activities) — are consistent with the power-cost efficiency visible in the numbers; the MOA change itself carries no quarter-specific financial impact yet.