ALFA Finder
| Market Cap | ₹1,115.84 CrSmall Cap |
|---|---|
| P/E Ratio | 13.03xSector: 21.01x |
| PEG Ratio | 0.09 |
| Promoter Holding | 65.84%Quarter Change: 0% |
| Metric | Q2-27 | Q1-27 | Q2-26 |
|---|---|---|---|
| Revenue from Operations | 104 | 68.9 | 53.5 |
| Other Income | 9.6 | 10.8 | 7.7 |
| Total Income | 113 | 79.7 | 61.2 |
| Profit Before Tax | 16.0 | 10.6 | 15.6 |
| Net Profit | 16.0 | 10.8 | 14.4 |
| Operating Margin | 14.1% | 13.3% | 25.5% |
| Net Profit QoQ | +48.1% | ||
| Net Profit YoY | +11.1% | ||
Key highlights
- Net profit climbed 11.1% year-on-year to ₹16.0 crore from ₹14.4 crore in the same period last year
- Revenue from operations grew to ₹104 crore in Q2-27 compared to ₹53.5 crore in Q2-26
- Operating margin improved sequentially to 14.1% from 13.3% in the June quarter
- The Board approved a direct listing of 20.14 crore equity shares on the NSE Main Board
- Company PEG ratio stands at 0.09, significantly below the sector average of 1.87
Sequential Growth Driven by Subsidiary Consolidation
Fedders Holding reported a consolidated revenue of ₹104 crore for Q2-27, marking a sharp increase from the ₹68.9 crore recorded in Q1-27. This growth was largely supported by its wholly-owned subsidiary, Fedders Electric and Engineering Limited (FEEL). Despite the revenue surge, operating margins of 14.1% remain lower than the 25.5% reported in the previous year's corresponding quarter.
Net profit for the period stood at ₹16.0 crore, mirroring the Profit Before Tax, indicating a neutral tax position for the quarter. The company continues to transition its portfolio following the June 2026 disposal of IM+ Investments & Capital Private Limited.
Strategic Pivot Toward NSE Main Board Listing
A critical milestone for the company is the approved proposal for the direct listing of its equity shares on the Main Board of the National Stock Exchange of India (NSE). This move, approved on July 27, 2026, aims to improve liquidity and visibility for its 20.14 crore equity shares. Unlike a traditional IPO, this listing will not involve new capital raising but will cover the existing paid-up capital of ₹20.14 crore.
This strategic alignment follows the regulatory delisting of its material subsidiary, FEEL, from the BSE and NSE in February 2026, centralizing the group's market presence.
Audit Observations and Compliance Matters
- Auditors issued a qualified conclusion for the subsidiary FEEL regarding ₹47.65 lakhs not transferred to the Investor Education and Protection Fund.
- The subsidiary lacks a proper fixed assets register, with depreciation currently charged on management estimates.
- Measurement of non-convertible redeemable cumulative preference shares has not been updated to present value as per Ind AS 109.
- Land at Kala-Aam remains classified as 'Asset Held for Sale' for over two years without a substantiating Sale Agreement.
- Consolidated total assets were reported at ₹898.75 crore as of September 30, 2026.
- Total equity attributable to shareholders stands at ₹747.26 crore.
Management Rationale on Direct Listing
This strategic initiative is aimed at enhancing visibility, improving liquidity, strengthening corporate governance alignment, and positioning the Company for long-term growth.
| Date | Announcement | Amount |
|---|---|---|
| 14 Aug 2026 | Q1 FY27 consolidated net profitSource: screener.in | ₹10.82 Cr |
| 29 May 2026 | Q4 FY26 consolidated net profitSource: cholasecurities.com | ₹23.74 Cr |
| 13 Feb 2026 | Q3 FY26 consolidated net profitSource: jmfinancialservices.in | ₹36.70 Cr |
| 13 Nov 2025 | Q2 FY26 consolidated net profitSource: tickertape.in | ₹14.41 Cr |
| 14 Aug 2025 | Q1 FY26 consolidated net profitSource: sahi.com | ₹16.50 Cr |
| 30 May 2025 | Q4 FY25 consolidated net profitSource: scanx.trade | ₹66.20 Cr |
What to watch next
- Final approval and timeline for direct listing on the NSE Main Board
- Resolution of auditor qualifications regarding IEPF transfers and fixed asset records at FEEL
- Next quarterly results for Q3 FY27 expected by February 14, 2027
| Share price | ₹55.4 |
|---|---|
| Market capitalisation | ₹1,115.84 Cr |
| Revenue (annual) | ₹344.75 Cr |
| Net profit (annual) | ₹91.31 Cr |
| Revenue (latest quarter) | ₹68.88 Cr-48.65% vs previous quarter |
| Net profit (latest quarter) | ₹10.82 Cr-54.42% vs previous quarter |
| P/E (TTM) | 13.03×Sector 21.01× |
| Promoter holding | 65.84%0.00% QoQ |
| FII holding | 0.17%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Fedders Holding Ltd announcing Unaudited Financial Results for the quarter and half year ended September 30, 2026. Market figures from a third-party data provider.
