RIRamky Infrastructure533262Quarterly results

Ramky Infrastructure Q2 FY27: revenue up 28% to ₹605 Cr, PAT up 36% to ₹103 Cr

Q2 FY27 consolidated revenue up 28% to ₹605 Cr, EBITDA up 28% to ₹179 Cr and profit after tax up 36% to ₹103 Cr.

By ScoutQuest · Sat 7 Nov 2026, 6:12 PM IST · 1 min read

Q2 FY27 consolidated revenue

₹605 Cr, up 28% year on year

Q2 FY27 consolidated PAT

₹103 Cr (up 36%, 17% margin)

Unexecuted order book

₹12,000 Cr at 30 September 2026

Period

Q2 FY27 (quarter ended 30 Sep 2026)

Positioning

Ramky presents itself as an investor-operator infrastructure company with core PPP and HAM expertise across industrial solutions, water & wastewater and urban infrastructure, backed by a ₹12,000 Cr order book and a BBB credit rating.

📈 Consolidated Q2 FY27 revenue from operations was ₹605 Cr, up 28% year on year, with EBITDA of ₹179 Cr (up 28%, 30% margin) and profit after tax of ₹103 Cr (up 36%, 17% margin). The presentation calls it the highest quarterly performance in the last five years and notes the first billing milestone on its water transmission project.

📉 The half year was less even: consolidated H1 FY27 revenue rose to ₹1,076 Cr from ₹851 Cr, but EBITDA was near flat at ₹280 Cr against ₹277 Cr and profit after tax fell to ₹142 Cr from ₹153 Cr, with EBITDA margin down to 26% from 33%. Finance cost for the half rose to ₹82 Cr from ₹40 Cr, and project debt climbed to ₹923 Cr from ₹163 Cr, lifting net debt/equity to 0.57x from 0.27x.

📈 On a standalone basis the company prints Q2 FY27 revenue of ₹539 Cr (up 21% YoY), EBITDA of ₹123 Cr (up 5%, with margin down to 23% from 26%) and profit after tax of ₹76 Cr (up 13%). It says standalone PAT normalised after a couple of quarters without exceptional gains.

📋 The unexecuted order book is ₹12,000 Cr at 30 September 2026, which the company says equals 4.6x FY26 revenue excluding O&M; industrial solutions are ₹7,500 Cr (62%), water & wastewater ₹2,500 Cr (21%) and urban infrastructure ₹2,000 Cr (17%), split 65% investor-operator and 35% EPC. Management says it will bid selectively for investor-operator projects with sustainable cash flows and niche jobs in its focus areas.

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