ADANIENSOL: Q2 CONS NET PROFIT 13.2B RUPEES VS 5.34B (YOY); EST 10.8B

ADANIENSOL: Q2 EBITDA 31B RUPEES VS 22.89B (YOY); Q2 EBITDA MARGIN 30.77% VS 34.70% (YOY)


ADANIENSOL: Q2 REVENUE 101B RUPEES VS 65.96B (YOY)

NDTV Profit – Dealing Room Check

🟢 MANKIND PHARMA

• Buy flows on HNI desk.
• Dealers expect positive news flow.

🟢 SBI CARDS
• Buy flows on HNI desk.
• Dealers expect credit costs to be on the lower side.
• Note: Stock has underperformed since its 2020 listing.

🔴 INFOSYS
• Buzz of potential guidance cut with earnings.

🟢 ABB
• Dealers expect strong sequential margin improvement.

☀️ ADANI GREEN ENERGY Q2 FY27 CONCALL HIGHLIGHTS

📊 FINANCIAL PERFORMANCE

• Q2 Revenue from Power Supply: UP 45% YoY to ₹4,019 Cr.

• Q2 EBITDA: UP 51% YoY to ₹3,835 Cr.

• H1 Revenue from Power Supply: UP 36% YoY to ₹8,299 Cr.

• H1 EBITDA: UP 41% YoY to ₹7,957 Cr, with a 93% margin.

• Management stated H1 EBITDA could have approached ₹9,000 Cr without grid curtailment.

• Average cost of debt remained stable at 8.9%, with 72% of loans at fixed rates.

☀️ ADANI GREEN ENERGY Q2 FY27 CONCALL HIGHLIGHTS

⚡️ OPERATIONAL HIGHLIGHTS

• Operational portfolio crossed 20 GW, reaching 20.8 GW.

• H1 energy sales increased 32% YoY to 25.7 billion units.

• Kavda project: 10.8 GW of solar, wind and hybrid capacity commissioned.

• Solar CUF declined to 23% from 24.8% due to grid curtailment.

🔋 BATTERY ENERGY STORAGE (BESS)

• Commissioned 3 GWh of BESS, taking total installed storage capacity to 6.6 GWh.

• Management expects to exceed its FY27 target of 10 GWh battery storage installation.

• BESS is being deployed as virtual transmission to store excess renewable power and reduce curtailment risks.

• Strategy is to secure long-term storage contracts with AA+ rated counterparties.

☀️ ADANI GREEN ENERGY Q2 FY27 CONCALL HIGHLIGHTS

🚧 TRANSMISSION & CURTAILMENT

• Key 7 GW transmission evacuation line at Kavda delayed from Q3 to Q4 FY27.

• Management is aligning project commissioning with transmission corridor availability.

• PPAs are on a take-or-pay basis, providing contractual protection for scheduled power curtailed by the grid.

• First 500 MW pumped storage project at Chitrabati is on track for completion by year-end.

☀️ ADANI GREEN ENERGY Q2 FY27 CONCALL HIGHLIGHTS

🎯 GUIDANCE & FUTURE OUTLOOK

• FY27 new capacity commissioning target: 4.5–5 GW, subject to timely transmission infrastructure completion.

• CapEx programme: ₹2.4 lakh Cr through FY30.

• New projects targeted to deliver 13–14% ROE.

• Focus on 25-year fixed-tariff PPAs to ensure predictable cash flows and reduce merchant power exposure.

• Leverage expected to remain in the current range until FY28–29, then decline towards 4.5x and below as more assets become operational.

📈 CREDIT RATING UPDATE

• An SPV contributing 15% of company EBITDA received a AAA rating upgrade, expected to reduce borrowing costs for that asset.

📊 KEI INDUSTRIES Q2 FY27 CONCALL HIGHLIGHTS

📈 FINANCIAL PERFORMANCE

• Q2 Revenue: UP 38.52% YoY to ₹3,776 Cr.

• Wire & Cable Sales: Grew 39.5% YoY.

• EBITDA: UP 28.69% to ₹401 Cr; EBITDA Margin at 10.62%.

• Net Profit: UP 28.96% YoY to ₹262.45 Cr.

• H1 Revenue: UP 31% to ₹6,961 Cr.

• H1 EBITDA: Grew 34%; PAT increased 34.4% to ₹536.59 Cr.

🔌 BUSINESS HIGHLIGHTS

• Domestic wire and cable sales grew 46% YoY in Q2.

• B2C distribution contributed 59% of total sales.

• EHV cable sales stood at ₹217 Cr during the quarter.

• Active dealer network reached 2,146 as of September 2026.

• EPC business is being wound down, with revenue of ₹46 Cr and a minor EBIT loss.

📊 KEI INDUSTRIES Q2 FY27 CONCALL HIGHLIGHTS

🌍 EXPORTS & ORDER BOOK

• Wire and cable order book stood at ₹4,927 Cr.

• Export order book stood at ₹991 Cr, with 50% from the US.

• Q2 exports stood at ₹493 Cr; H1 exports reached ₹834 Cr.

• Management expects export growth to accelerate in upcoming quarters.

🏭 CAPEX & SANAND PLANT

• H1 CapEx stood at ₹402 Cr, including ₹333 Cr for the Sanand facility.

• Annual CapEx of around ₹600 Cr planned for the next 3–4 years.

• Phase 2 EHV and HT cable production at Sanand expected by March 2027.

• H1 capacity utilisation: Cable division 77%; housewire division 64%.

📊 KEI INDUSTRIES Q2 FY27 CONCALL HIGHLIGHTS

🎯 GUIDANCE & OUTLOOK

• FY27 revenue growth guidance raised to above 25%.

• Long-term revenue CAGR target: 20% over the next 3–4 years.

• EBITDA margin guidance: Around 11% for FY27; medium-term target of 11–12%.

• PAT growth expected to exceed revenue growth by 3–4 percentage points.

• ROCE expected at 23–24% and ROE at 19–20% from next year.

📌 OTHER KEY COMMENTS

• Management said quarterly 🌍 EXPORTS & ORDER BOOK

• Wire and cable order book stood at ₹4,927 Cr.

• Export order book stood at ₹991 Cr, with 50% from the US.

• Q2 exports stood at ₹493 Cr; H1 exports reached ₹834 Cr.

• Management expects export growth to accelerate in upcoming quarters.

SWIGGY Q2 FY27 RESULTS

Net Loss: ₹922 Cr loss vs ₹1,092 Cr loss YoY | Loss ↑17% QoQ

Revenue: ₹7,571 Cr ↑36% YoY | ↑11% QoQ

EBITDA: ₹770 Cr loss vs ₹798 Cr loss YoY | Loss ↑18% QoQ

EBITDA Margin: -10.2% vs -14.3% YoY | -9.5% QoQ

JINDAL STAINLESS Q2 FY27 (CONS.)

Net Profit: ₹897.75 Cr ↑11.12% YoY | ↑16.79% QoQ

Revenue: ₹12,873.86 Cr ↑18.19% YoY | ↑14.14% QoQ

EBITDA: ₹1,432.90 Cr ↑3.25% YoY | ↑7.81% QoQ

EBITDA Margin: 11.13% vs 12.74% YoY | 11.78% QoQ

ADANI TOTAL GAS Q2 FY27

Net Profit: ₹173 Cr ↑6% YoY | ↑22% QoQ

Revenue: ₹2,110 Cr ↑34% YoY | ↑11% QoQ

Other Income: ₹14 Cr vs ₹9 Cr YoY | ↑8% QoQ

US INITIAL JOBLESS CLAIMS ACTUAL: 194K VS 199K PREVIOUS; EST 200K

US CONTINUING JOBLESS CLAIMS ACTUAL: 1728K VS 1710K PREVIOUS; EST 1710K

HATSUN Q2

SL NET PROFIT 1.16B RUPEES VS 1.1B (YOY)

Q2 EBITDA 3.32B RUPEES VS 3.31B (YOY)

Q2 EBITDA MARGIN 11.44% VS 13.64% (YOY)

REVENUE 28.98B RUPEES VS 24.27B (YOY)

HPCL Q2 FY27

Net Profit: ₹3,625 Cr ↓6% YoY | ↑130% QoQ

Revenue: ₹1,39,114 Cr ↑26% YoY | ↓4% QoQ

Other Income: ₹462 Cr vs ₹522 Cr YoY | ↓25% QoQ

HPCL Q2 FY27

EBITDA: ₹8,934 Cr vs ₹1,626 Cr loss QoQ | ↑30% YoY

EBITDA Margin: 6.64% vs -11.58% QoQ | 6.8% YoY

PAISALO:

CO DOUBLING AUM FROM ₹7,265.9 CR TO ~₹13,415 CR BY FY30 REQUIRES A COMPOUND ANNUAL GROWTH RATE OF ~23-25%, BELOW THE CURRENT 33% AUM GROWTH TRAJECTORY.

HOWEVER, SUSTAINING 6% NIM WHILE FINANCE COSTS GREW 33% YOY DUE TO LATE FUND DEPLOYMENT REQUIRES RAPID SECOND-HALF ASSET CONVERSION WITHOUT DILUTING CREDIT STANDARDS.

CYIENT Q2 FY27 (CONS.)

Net Profit: ₹132.50 Cr ↓7.28% YoY | ↑21.90% QoQ

Revenue: ₹2,235 Cr ↑25.49% YoY | ↑7.67% QoQ

EBIT: ₹228.40 Cr ↑55.80% YoY | ↑22.07% QoQ

EBIT Margin: 10.22% vs 8.23% YoY | 9.01% QoQ

COLGATE-PALMOLIVE Q2 FY27 (STANDALONE)

Net Profit: ₹342 Cr ↑4% YoY | Flat QoQ

Revenue: ₹1,706 Cr ↑12% YoY | ↑6% QoQ

Operating Profit: ₹473 Cr ↑2% YoY | ↓2% QoQ

Operating Profit Margin: 27.8% vs 30.6% YoY | 30.1% QoQ

COLGATE Q2 FY27 : RESULTS VS ESTIMATES

🔴 Net Profit: ₹341.5 Cr vs ₹367 Cr estimated — Miss by 6.95%

🔴 Revenue: ₹1,705.7 Cr vs ₹1,734 Cr estimated — Miss by 1.63%

🔴 EBITDA: ₹474 Cr vs ₹518 Cr estimated — Miss by 8.49%

🔴 EBITDA Margin: 28% vs 30% estimated — Miss by 200 bps

Rallis India Ltd – Q2 FY27 FINANCIAL RESULTS HIGHLIGHTS

Financial results for the second quarter and half year ended September 30, 2026:

- Q2 Revenue: INR 858 Cr (vs INR 861 Cr in Q2FY26)

- Q2 EBITDA: INR 126 Cr (vs INR 154 Cr in Q2FY26)

- Q2 PAT: INR 85 Cr (vs INR 102 Cr in Q2FY26)

- H1 PAT: INR 210 Cr (vs INR 197 Cr in H1FY26)

- Soil & Plant Health revenue: Increased 22% YoY in Q2

- Seeds revenue: Decreased 31% YoY in Q2