Eimco Elecon Q2 FY27: standalone revenue +71% YoY to ₹56.8 Cr, PAT +46% to ₹7.8 Cr
PAT +46.4% YoY · revenue +70.9% · margins compressing
₹56.8 Cr
+70.9% YoY
₹7.83 Cr
+46.4% YoY
13.34%
-0.9pp YoY
₹13.58
Eimco Elecon's standalone revenue for Q2 FY27 came in at ₹56.80 Cr, up 70.9% year-on-year from ₹33.24 Cr, with PAT up 46.4% YoY to ₹7.83 Cr (EPS ₹13.58 vs ₹9.28) — a clear YoY growth quarter, though profit growth trailed revenue growth. Sequentially revenue and PAT fell 26.7% and 49.1% respectively from Q1 FY27's ₹77.52 Cr/₹15.38 Cr print; Q1 was an outsized base rather than this quarter being weak in isolation, and the QoQ read should be treated as moderation off an unusually strong prior quarter, not a trend break.
Q2 FY-2027 vs prior quarters
On margins, management's own EBITDA figure improved to ₹11 Cr (18.8% margin) from ₹5 Cr (15.4%) a year ago — a 340bps expansion the company attributes to operating leverage, better capacity utilisation and cost discipline, and which it says sits "in line with our targeted range of 18-20%" (Executive Director Kamlesh N. Shah, press release). That operating gain did not fully flow to the bottom line: PAT-to-total-income margin was 13.3% this quarter versus 14.3% a year ago and 18.0% in Q1, because the effective tax rate stepped up to 25.0% (from 22.4% YoY and 21.6% in Q1) and finance/manufacturing costs scaled with the lower volume base.
The stock went into the print at ₹2,222.5, down 3% over the past month of trading.
What the summary numbers don't show
H1 FY27: revenue ₹134 Cr (+33.3% YoY), PAT ₹23 Cr (+17.1% YoY), EBITDA margin 18.5% vs 17.2% H1 FY26
There is no prior formal guidance or concall commentary on record for this company, and no quarter-specific street/consensus estimate for Q2 FY27 could be found (only a full-year FY27 EPS consensus of ~₹95, not comparable at the quarter level), so vsGuidance and vsStreet are marked unknown rather than inferred. The standout forward signal is the order book, which nearly tripled to ₹133 Cr as of September 30, 2026 from ₹44 Cr a year earlier (+202%), management's clearest indicator of demand pipeline. Separately, CFO Vishal Begwani resigned effective October 30, 2026 to pursue another opportunity, with the company stating no material reason beyond his resignation letter — a KMP change disclosed alongside the results but not tied to the quarter's performance.
W1
Whether H2 FY27 revenue run-rate recovers toward Q1's ₹77.5 Cr level, given the ₹133 Cr order book now on hand
W2
Effective tax rate, which jumped to 25.0% this quarter from ~21-22% in the prior two periods — watch if it normalizes or keeps compressing net margin
W3
EBITDA margin versus management's stated 18-20% target band (18.8% this quarter) as revenue scales
Standalone only (company has no subsidiary/associate/JV per filing Note 3); source in ₹ Lakh converted to Cr; both internal checks tie exactly; effective tax rate rose to 25.0% this quarter vs 21.6% in Q1 FY27 and 22.4% in Q2 FY26, which is the main reason PAT margin didn't track the EBITDA margin gain.