HFHFCL500183Earnings call transcript

Q2 FY27 call: best-ever quarter, ₹28,900 crore order book, FY27 revenue growth seen at least 80%

Transcript of the Q2 FY27 earnings call held on October 19, 2026 is now shared.

By ScoutQuest · Mon 26 Oct 2026, 8:04 PM IST · 2 min read

Revenue

₹2,541.79 crore

Order Book

₹28,900 crore

FY27 Revenue Growth Guidance

at least 80%

Results snapshot

Management described Q2 FY27 as the best ever quarterly performance in the company's history.

• Consolidated revenue: ₹2,541.79 crore, up approximately 143.62% year-on-year and 32.73% quarter-on-quarter.
• EBITDA: ₹658.00 crore, up 223.55% year-on-year and 47.78% quarter-on-quarter.
• EBITDA margin: 25.89%, up 640 basis points year-on-year and 264 basis points quarter-on-quarter.
• Consolidated profit before tax: ₹538.60 crore against ₹106.34 crore in Q2 FY26, up 406.49% year-on-year and 62.46% quarter-on-quarter.
• Consolidated profit after tax: ₹394.22 crore against ₹71.92 crore in Q2 FY26, up 448.14% year-on-year and 60.49% quarter-on-quarter.
• PAT margin: 15.51%, up 862 basis points year-on-year.

For the half year, profit before tax rose from ₹61.64 crore to ₹870.12 crore (up 1311.62%) and profit after tax from ₹42.62 crore to ₹639.86 crore (up 1401.31%). Exports grew approximately 493% year-on-year.

Order book

The order book stands at ₹28,900 crore, which management said provides multi-year revenue visibility. Beyond this, management said there is a pipeline of orders at advanced stages that could convert into firm contracts. It added that it does not see this quarter as a peak but as a sustained phase of growth.

Guidance given on the call

• FY27 revenue growth: management now expects at least 80%, having started FY27 with an aspiration of approximately 20% and revised it to 40% after the first quarter.
• Revenue milestone: the earlier aspiration of ₹10,000 crore revenue by FY29 could, in management's view, be reached much before that.
• Defence revenue: aspiration of approximately ₹500 crore in FY27.
• Capacity: planned investment of approximately ₹1,800 crore across optical fiber, cable and preform manufacturing to expand capacities and deepen integration.

These are management expectations and forward-looking statements, not reported results.

Defence and aerospace

• In September, the company delivered the second batch of Thermal Weapon Sights for AK-203 to the Indian Defence Forces.
• The aerospace business being acquired has an unexecuted order book of approximately ₹1600 crore; management expects to complete the acquisition during the current quarter.
• The portfolio spans thermal weapon sights, electronic fuzes, surveillance radars and Multi-Mode Hand Grenades.
• The Government of Andhra Pradesh has allotted 1000 acres for an ammunition manufacturing complex, where construction is to start soon.

What to keep in mind

The growth targets, margin trends and order conversion described here are what management said on the call and depend on demand, execution and conversion of the pipeline into firm contracts. The call carried a standard disclaimer that such statements are forward-looking and that actual results can differ.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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