Consolidated PAT more than doubles YoY on margin gains; Q2 revenue up 28%, eases QoQ

Wendt India's consolidated Q2 FY27 PAT of ₹5.49 Cr rose 103.3% YoY (₹2.70 Cr) on revenue of ₹72.51 Cr, up 28.2% YoY (₹56.58 Cr), with operating margin expanding to ~14.6% from ~11.8% a year ago and net margin to 7.6% from 4.7%. Sequentially the print is softer — revenue grew just 1.7% over Q1 FY27's ₹71.28 Cr, PAT fell 11.2% from ₹6.18 Cr, and OPM eased from Q1's ~15.4%, so the headline strength is a YoY story, not a QoQ one. There is no analyst consensus or brokerage preview available for this small-cap print (web search found none), so vsStreet is unknown; management has also issued no formal guidance or outlook on record, so the quarter cannot be graded against a prior bar. The Super Abrasives segment, the core business, drove the beat: segment profit rose to ₹9.75 Cr, up ~50% YoY and ~22% QoQ, on segment revenue of ₹46.28 Cr. That offset a widening loss in Machines and Accessories, which posted a segment loss of ₹3.88 Cr versus ₹1.49 Cr in Q1 FY27, though narrower than the ₹3.71 Cr loss a year ago. The effective tax rate also eased to ~29.9% from ~38.8% in the year-ago quarter, adding to the reported PAT jump alongside the operating improvement. Standalone PAT of ₹6.29 Cr outpaced consolidated PAT by ₹0.80 Cr, consistent with the overseas subsidiaries' combined ₹0.84 Cr net loss for the quarter per the auditor's review note. Among the quarter's corporate developments, the company clarified unusual volume movement to the exchanges on September 11, 2026, and closed its trading window ahead of these results on September 25, 2026 — both procedural and not tied to the operating numbers.