Bharat Bijlee Q2 Results: Net Profit Surges 63% to ₹46 Crore as Power Systems Revenue Jumps

Key numbers

P/E Ratio	22.79Sector PE 41.33
Market Cap	₹2,549.19 CrMid-range Performer
Day RSI	48.4Neutral Zone
1-Year Return	-25.46%Price Performance

Key highlights

• Net profit for Q2 FY27 rose to ₹46.0 crore from ₹28.2 crore in the same period last year
• Revenue from operations grew 55.6% year-on-year to ₹736 crore from ₹473 crore
• Power Systems segment revenue jumped nearly 70% to reach ₹440.11 crore during the quarter
• Operating margin improved to 8.1% compared to 7.7% in the corresponding quarter of the previous year
• Total income stood at ₹752 crore for the quarter, reflecting growth over both YoY and QoQ periods

Power Systems Revenue Jumps 69 Percent

Bharat Bijlee witnessed a significant surge in its Power Systems segment, which reported revenues of ₹440.11 crore in Q2 FY27 compared to ₹259.76 crore in the year-ago period. This represents a 69.4% increase, highlighting the company's strong traction in the transformer and substation project space. The Industrial Systems segment also showed healthy growth, rising from ₹213.68 crore to ₹296.05 crore.

This segment includes electric motors and automation systems. The company's expansion plans, specifically the brownfield transformer capacity increase to 36,000 MVA expected by January 2027, align with this upward trajectory in segment performance and overall order book execution capabilities.

Raw Material Costs and Operating Efficiencies

• Cost of materials consumed for the quarter stood at ₹607.30 crore, up from ₹425.24 crore YoY
• Employee benefit expenses increased slightly to ₹64.69 crore from ₹55.95 crore
• Other expenses rose to ₹50.06 crore during the quarter, reflecting higher operational activity
• Finance costs increased to ₹7.55 crore from ₹3.86 crore in the corresponding quarter last year
• Operating margin reached 8.1% as the company benefited from scale and segment mix

Strong Half-Year Performance in FY27

For the first half of the 2026-27 fiscal year, Bharat Bijlee recorded a total income of ₹1,310.20 crore, compared to ₹960.34 crore in H1 FY26. Profit before tax for the half-year stood at ₹87.09 crore, marking a 16.9% increase from the previous year's ₹74.50 crore. The company generated ₹10.02 crore in net cash from operating activities during the six-month period, a turnaround from the negative cash flow of ₹37.45 crore recorded in the same period last year.

This improvement in cash flow is supported by higher operating profits before working capital changes, which stood at ₹90.64 crore for H1 FY27.

Board Approval and Statutory Review

The Board of Directors at its Meeting held today, i.e. Tuesday, October 27, 2026, has inter alia considered and approved / adopted the Unaudited Financial Results of the Company, for the quarter and half year ended September 30, 2026.

What to watch next

• Commissioning of brownfield transformer capacity expansion to 36,000 MVA by January 2027
• Progress on the unexecuted order book which stood at ₹2,133 crore as per earlier records
• Announcement of Q3 FY27 financial results, typically expected in early February 2027
• Monitoring of 15% to 20% revenue growth guidance provided for the FY27 fiscal year

“The above information will also be made available on the Company’s Website, https://www.bharatbijlee.com/.”

Bharat Bijlee · financial snapshot

Share price	₹2255.3
Market capitalisation	₹2,549.19 Cr
Revenue (annual)	₹2,273.80 Cr
Net profit (annual)	₹120.09 Cr
Revenue (latest quarter)	₹547.17 Cr-28.67% vs previous quarter
Net profit (latest quarter)	₹19.63 Cr-50.05% vs previous quarter
P/E (TTM)	22.79×Sector 41.33×
Promoter holding	33.65%0.00% QoQ
FII holding	4.04%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.