Overview
- Company filings released Oct. 13–14 show standalone Q2 PAT rose to ₹75.06 crore, a 338% year‑on‑year increase driven by higher revenues and the exceptional gain.
- Standalone EBITDA for the quarter improved sharply to about ₹114 crore with a 16.1% margin, reflecting better capacity use and operating leverage.
- Order inflows were strong at ₹1,169 crore in Q2 and ₹3,283 crore in H1, lifting the unexecuted order book to ₹7,237 crore which the company says is executable over the next 18–24 months.
- The Changodar manufacturing expansion has completed dynamic testing and is expected to enter commercial production around Diwali, supporting near‑term capacity additions while management has kept FY27 guidance unchanged.
- Analysts kept buy ratings and raised modest price targets but note the ₹131.5 crore one‑time gain and the company’s historical 10–15% tender win rate mean investors should watch order conversion and execution for sustained earnings growth.