Q2 FY27: revenue up 60.01% YoY, PAT down 20.22%; order book at ₹67,782 million
Q2 FY27: revenue ₹3,638 million, up 60.01% YoY.
By ScoutQuest · · 2 min read
- Q2 FY27 Revenue
- ₹3,638 million, up 60.01% YoY
- Q2 FY27 PAT
- ₹395 million, down 20.22% YoY
- Order Book
- ₹67,782 million across water and renewable energy
Quarter and half-year numbers
- Q2 FY27 revenue from operations: ₹3,638 million, up 60.01% from ₹2,273 million in Q2 FY26
- Q2 FY27 EBITDA (excluding other income): ₹749 million, up 15.27%
- Q2 FY27 PAT: ₹395 million, down 20.22% from ₹495 million
- H1 FY27 revenue: ₹7,230 Mn, up 54.39%; EBITDA ₹1,505 Mn, up 16.56%; PAT ₹847 million, down 7.91%
Margin picture
- Q2 EBITDA margin 20.58% against 28.56% a year earlier, a fall of 798 bps
- Q2 PAT margin 10.62% against 20.51%
- H1 EBITDA margin 20.82% against 27.58% (down 676 bps), PAT margin 11.49% against 18.75%
Business mix
- Core water and wastewater, including O&M and annuity revenue, was about 71% of H1 FY27 consolidated revenue
- Renewable energy was about 29% of H1 FY27 revenue, against 11% in FY26
Order book as of September 30, 2026
- Total ₹67,782 million (₹6,778.2 crore)
- Water & Wastewater ₹34,387 million: EPC orders ₹21,056 million, HAM projects ₹3,463 million, long-term O&M ₹9,867 million
- Renewable Energy ₹33,395 million across Solar EPC, Wind EPC, BESS EPC, IPP and O&M projects
New orders in the period
- Two HAM projects in Varanasi under the Namami Gange Programme, combined value about ₹257 crore (excluding GST), including 15 years of O&M
- Step-down subsidiary Suyog Urja received an LOA worth ₹224.19 crore (including GST) for EPC works on the 180 MW NTPC Wind Power Project in Maharashtra
- In October 2026, Suyog Urja received an LOA worth ₹228 crore (excluding GST) for the 100 MW Ajani Wind Power Project in Maharashtra
What management said
Profitability was impacted by changes in project mix and elevated costs, and the company said it remains focused on disciplined execution, operational efficiencies and maintaining sustainable margins as the businesses scale. Three STP projects are stated to be in advanced stages of completion.
What a retail reader can take away
Revenue is growing much faster than profit, so the market conversation is likely to centre on the margin trend even as the order book and new order wins support execution visibility.
Also from Enviro Infra Engineers
Step-down subsidiary incorporates Windaxis Renewables as a wholly owned subsidiary
5 Nov 2026
Board approves unaudited Q2 and H1 results; auditors issue unmodified review conclusion
5 Nov 2026
Statutory auditor of material subsidiary resigns; parent's group auditor proposed
5 Nov 2026
More numbers
- Revenue from operations, Q2 FY27₹3,638 million
- Revenue from operations, H1 FY27₹7,230 Mn
- PAT, Q2 FY27₹395 million
- PAT, H1 FY27₹847 million
- Consolidated order book as of Sep 30, 2026₹67,782 million
- PAT YoY change, Q2 FY27(20.22) %
- Wind EPC LOA from Tata Power Renewable (Suyog Urja)₹224.19 crore
- Two Varanasi HAM projects, combined value₹257 crore
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