EEElecon Engineering Company505700Quarterly results

Q2 FY27 results: revenue up 10.5% to ₹639 crore, dividend Re. 0.50, ICRA long-term rating moved to AA (Positive)

Elecon Engineering Q2 FY27: revenue ₹639 crore, up 10.5% YoY; EBITDA ₹148 crore, up 17.7%; PAT ₹96 crore.

By ScoutQuest · Wed 14 Oct 2026, 1:55 PM IST · 2 min read

Q2 FY27 Revenue

₹639 crore, up 10.5% YoY

Q2 FY27 EBITDA

₹148 crore, up 17.7%

Q2 FY27 PAT

₹96 crore

Elecon Engineering's press release covers the quarter and half year ended 30 September 2026, along with the interim dividend, a credit rating update and the order book position.

Q2 FY27 consolidated performance

• Revenue ₹639 crores, up 10.5% year-on-year from ₹578 crores.
• EBITDA ₹148 crores, up 17.7%; EBITDA margin 23.1%, up 140 bps.
• Profit After Tax ₹96 crores; PAT margin 15.1%.

Half year (H1 FY27)

• Revenue ₹1,160 crores, up 11.1% over adjusted H1 FY26.
• Adjusted EBITDA ₹257 crores, up 11.4%; margin 22.2%.
• H1 FY26 revenue and EBITDA were adjusted to exclude Rs 25 crores of one-time arbitration settlement income in the MHE division.

Gear division

• Q2 revenue ₹488 crores, up 10.6%; EBIT ₹108 crores, up 27.2%; EBIT margin 22.1%, up 290 bps.
• Q2 order intake ₹493 crores; H1 order intake ₹1,063 crores, up 8.8%.
• Open order book ₹1,056 crores, up 37.0% year-on-year.

MHE division

• Q2 revenue ₹151 crores, up 10.4%; EBIT ₹31 crores, with EBIT margin at 20.2% against 25.7% in Q2 FY26.
• The company attributes the lower margin to an unfavourable product mix, increased input costs and operating deleverage from a lower scale of operations due to delayed clearances for projects.
• Q2 order intake ₹253 crores, up 32.5%, including overseas orders of ₹68 crores.
• Open order book ₹579 crores, up 27.3%.

Dividend, rating and other announcements

• Interim dividend of Re. 0.50/- (that is 50%) per equity share of face value Re. 1/- each.
• Long-term credit rating moved from [ICRA] AA (Stable) to [ICRA] AA (Positive); short-term rating reaffirmed at [ICRA] A1+.
• SBI Bank, the lead banker, has released collateral security for fund-based and non-fund-based working capital limits, and the hypothecation of movable and immovable fixed assets including plant and machinery has been removed.
• The MHE division has entered the global market with secured export orders of approximately $ 9 Mn.

Order book and overseas business

• Consolidated order intake ₹746 crores in Q2 FY27, up 8.4%, and ₹1,501 crores in H1 FY27, up 15.3%.
• Consolidated open order book ₹1,635 crores as of 30 September 2026, up approximately 33% year-on-year.
• Overseas business revenue ₹159 crores in Q2 FY27, up 30.6% year-on-year.

How to read this

Consolidated revenue and profit both grew in the quarter, with the EBITDA margin improving, helped by a higher contribution from the Gear division. The MHE division grew revenue but its margin came down, which the company links to product mix, input costs and the timing of project execution. Order intake is the value of new orders received, and the open order book is the value of orders still to be executed, which the company links to revenue visibility for the coming periods. The interim dividend is a cash payout to eligible shareholders, while the rating update and the release of collateral security relate to the company's borrowings and the security earlier given against them.

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