| Market Cap | ₹7,846.62 CrHeavy Electricals |
|---|---|
| 1-Year Return | 56.79%Price performance |
| Promoter Holding | 74.65%Zero pledged shares |
| Day RSI | 51.8Neutral momentum |
| Metric | Q2-27 | Q1-27 | Q2-26 |
|---|---|---|---|
| Revenue from Operations | 209 | 137 | 98.2 |
| Other Income | 2.6 | 1.9 | 1.8 |
| Total Income | 211 | 139 | 100 |
| Profit Before Tax | 72.3 | 36.8 | 25.9 |
| Net Profit | 53.9 | 27.3 | 19.3 |
| Operating Margin | 34.2% | 26.5% | 25.9% |
| Net Profit QoQ | +97.4% | ||
| Net Profit YoY | +179.3% | ||
| Adj. Profit QoQ | +99.7% | ||
| Adj. Profit YoY | +189.2% | ||
Key highlights
- Net profit jumped 179.3% year-on-year to ₹53.9 crore from ₹19.3 crore in Q2 FY26
- Revenue from operations grew 112.8% to ₹209 crore compared to ₹98.2 crore in the same period last year
- Operating margins expanded significantly to 34.2% in Q2 FY27 from 25.9% in Q2 FY26
- Profit before tax for the quarter reached ₹72.3 crore, nearly doubling from the previous quarter
- The company maintains a strong capital position with ₹234 crore in remaining IPO proceeds held in fixed deposits
Sharp Growth in Top-line and Profitability
Kanohar Electricals achieved substantial operational scaling in the quarter ended September 30, 2026, with revenue from operations reaching ₹209 crore. This performance represents a 112.8% increase compared to the ₹98.2 crore reported in the same quarter last year. The bottom line grew at an even faster pace, with net profit rising to ₹53.9 crore, up from ₹19.3 crore a year ago.
The company’s efficiency was underscored by a significant expansion in operating margins, which climbed to 34.2% in Q2 FY27. Sequential growth also remained robust, with net profit nearly doubling from the ₹27.3 crore recorded in the June quarter.
Utilization of IPO Proceeds and Financial Standing
- The company listed on the Main Board of BSE and NSE on September 16, 2026, following a ₹300 crore fresh issue.
- Total IPO proceeds were ₹1,05,574.02 lakhs, which included an offer for sale component.
- As of September 30, 2026, ₹38.46 crore has been utilized for working capital requirements.
- A nominal amount of ₹0.10 crore was spent on capital expenditure for asset renovation and development.
- Approximately ₹234 crore in remaining fresh issue proceeds is currently held in fixed deposits and monitoring accounts.
- Total assets of the company expanded to ₹1,024.68 crore at the end of the September half-year.
Joint Operations and Segment Analysis
The company continues to account for its joint operation, Kanohar-BCPL JV, on a proportionate basis. For the half-year ended September 30, 2026, the financial results of this joint operation included total assets of ₹14.79 crore. On a consolidated basis, inventories rose to ₹196.82 crore from ₹114.15 crore at the start of the fiscal year, indicating a build-up in work-in-progress and raw materials.
Management had previously issued revenue guidance of ₹950 crore for FY27 on October 6, 2026. With half-yearly revenue from operations already at ₹345.66 crore, the company is following its projected growth path within the heavy electrical equipment sector.
Operational Segment Focus
The Company operates in a single reportable segment, i.e. power system, and accordingly, there are no separate reportable segments to be disclosed under Ind AS 108 - 'Operating Segments'.
| Date | Announcement | Amount |
|---|---|---|
| 06 Oct 2026 | FY27 Revenue GuidanceSource: youtube.com | ₹950.00 Cr |
| 06 Oct 2026 | Q1 FY27 Standalone Revenue from OperationsSource: youtube.com | ₹137.08 Cr |
| 06 Oct 2026 | Q1 FY27 Standalone Profit After TaxSource: sahi.com | ₹27.34 Cr |
| 06 Oct 2026 | Q1 FY27 Standalone EBITDASource: youtube.com | ₹38.75 Cr |
What to watch next
- Earnings conference call for Q2 and H1 FY27 scheduled for November 3, 2026, at 2:00 PM IST
- Execution of order book to meet the full-year FY27 revenue guidance of ₹950 crore
- Further deployment of the remaining ₹234 crore fresh issue proceeds for working capital and capex
“The Board considered and approved the Unaudited Standalone Financial Results of the Company for the quarter and half year ended September 30, 2026, prepared in accordance with the Indian Accounting Standards (Ind AS).”
| Share price | ₹990.9 |
|---|---|
| Market capitalisation | ₹7,846.62 Cr |
| Revenue (annual) | ₹653.84 Cr |
| Net profit (annual) | ₹129.73 Cr |
| Revenue (latest quarter) | ₹137.08 Cr-54.15% vs previous quarter |
| Net profit (latest quarter) | ₹27.34 Cr-56.34% vs previous quarter |
| Promoter holding | 74.65% |
| FII holding | 2.2%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Kanohar Electricals Limited announcing its unaudited financial results for the quarter and half-year ended September 30, 2026. Market figures from a third-party data provider.
