Concall Intelligence

SRG Housing Finance held an emergency business update call to refute a damaging newspaper report regarding alleged promoter siphoning and fictitious accounts, confirming that an ongoing annual NHB supervisory audit triggered a Red Flag Account (RFA) classification which management expects to be removed shortly.

RACL Geartech reported robust Q1 FY27 financial performance with consolidated revenue growing 22% YoY to Rs. 132.6 crores and EBITDA expanding 18% YoY to Rs. 32.2 crores, backed by strong execution in domestic markets and resilience in European exports, particularly KTM.

UCO Bank posted robust growth in advances and deposits, improved asset quality and stayed within most guidance, but faces margin pressure from hardened yields and a slight dip in CASA ratio.

TCS sustained growth momentum in Q2FY27, reporting 1.3% sequential revenue growth (0.5% in constant currency) and 11.2% YoY revenue growth (2.8% in constant currency). Operating margins remained stable at 24%. The company's order book was healthy at US$9.6 billion, and annualized AI revenue crossed US$3.1 billion, representing over 10% of total revenue. While management expressed confidence in medium-term growth driven by a strong pipeline and increasing AI adoption, they ack

Canara Bank delivered a strong Q2 FY27, significantly surpassing most of its annual guidance targets across business growth, advances, deposits, asset quality, and profitability. While treasury operations faced headwinds, robust Net Interest Income growth compensated for the losses. Management remains optimistic about sustaining performance and managing the anticipated one-time ECL provisioning impact over the next few years.

Monolithisch India Limited reported strategic progress centered on backward integration through the Nawada quartzite mine acquisition, which is expected to reduce raw material procurement costs by INR1,200 to INR1,400 per metric ton and lower inventory levels. Additionally, the company announced two new greenfield facilities in Western India (Udaipur) and Southern India (Hospet) with a combined capacity of 300,000 metric tons per annum and a total capex of INR45 crores, targe

ICICI Prudential AMC reported a mixed quarter with strong AUM growth and operating profit, but PAT saw a QoQ degrowth primarily due to mark-to-market adjustments in other income. While the company maintained its market position and saw good traction in alternates and SIFs, systematic transaction flows moderated, and redemptions were slightly higher, particularly in hybrid schemes. Management remains focused on long-term growth, product diversification, and scaling existing al

The Federal Bank Limited reported strong financial performance for Q1 FY27, driven by a 36.6% YoY growth in net profit to INR 1,177 Cr, improving NIM at 3.33%, and decadal-best asset quality metrics including a Net NPA of 0.18%. Management continues to execute Project Breakthrough 4.0 with robust granular deposit mobilisation (85% granular funding share) and strong institutional backing from IFC and Blackstone.

ICICI Bank delivered robust performance in Q2-2027 with a 20.1% y-o-y increase in profit after tax to ₹ 148.43 bn, supported by strong loan growth across business banking and domestic corporate portfolios, further improvements in asset quality ratios, and healthy capital adequacy.

Punjab National Bank reported solid performance for Q2 FY27 with global business expanding 11.9% YoY to 31,18,434 Crore and net profit reaching 5,532 Crore, up 12.8% YoY. Asset quality metrics improved further with Gross NPA dropping to 2.55% and provision coverage ratio rising to 97.32%. While credit growth exceeded the upper bound of annual guidance, CASA share and operating profit growth lagged initial targets.

Aurum PropTech reported strong consolidated revenue growth of 57% YoY to Rs 137 Cr in Q2 FY27 along with an improvement in profitability margins, backed by aggressive AI transformation across platforms and upcoming integration of Housing.com.

Bajaj Housing Finance Limited reported strong financial and operational performance for Q2 FY27, marked by a 25% YoY increase in Assets Under Management to ₹ 1,58,205 crore, a 18% YoY growth in Profit After Tax to ₹ 757 crore, and stable asset quality with GNPA at 0.29%.

RBL Bank reported a strong transformation following the completion of Emirates NBD's majority acquisition, resulting in massive capital expansion, superior credit ratings, and improving asset quality metrics in Q1 FY2027.

L&T Finance Limited (LTF) delivered strong financial performance for Q2FY27, characterized by 28% YoY book growth to Rs. 1,36,635 Cr, a 33% YoY increase in PAT to Rs. 975 Cr, and an expanding RoE of 13.56%. The company continues to advance its Lakshya 2031 strategy, anchored heavily by proprietary AI and deep tech platforms like Cyclops and Nostradamus, while maintaining robust asset quality and stable liability costs.

Billionbrains Garage Ventures Limited (Groww) reported Q2 FY27 earnings with flat operational performance, impacted by higher cost-to-serve from one-time expiry file delays, AI infrastructure spending, and active trading days, alongside a seasonal drop in cost-to-grow due to the absence of IPL branding expenses.

Wipro delivered flat‑sequential revenue with modest margin expansion, highlighted growing AI‑related wins and sector‑specific momentum, but flagged a soft demand backdrop, US healthcare policy headwinds and seasonal furloughs that constrain Q3 outlook.

Anand Rathi Wealth delivered a strong Q2 and H1 FY27, reporting consistent year-on-year growth in PAT and revenue, despite a challenging market environment. The company achieved record net flows and client acquisitions, maintaining low attrition rates. Management expressed optimism about future growth, reaffirming full-year guidance for revenue and PAT, and outlined strategic initiatives including the upcoming mutual fund license application and operationalization of GIFT Cit

Cyient DLM reported strong financial performance for Q2 FY27 with revenue of Rs. 3,931 Mn (up 26.5% YoY) and an all-time high order book of Rs. 28,137 Mn, while normalization reveals steady underlying profit growth backed by scaling box build capabilities.

HCLTech delivered solid top‑line growth and margin expansion, driven by strong Advanced AI services and record bookings, while software revenue declined and margin guidance remains cautious.

HDFC Life delivered a resilient performance for H1 FY27, reporting steady growth in APE, Value of New Business (VNB), and Profit After Tax, supported by strong retail protection growth and a well-diversified distribution and product mix.

Poonawalla Fincorp reported a strong quarter, marking an 'inflection point' with significant improvements across key financial metrics. The company achieved disciplined AUM expansion, enhanced NIM and fee income, and reduced credit costs, leading to a structural lift in ROA. New product launches are scaling well, contributing significantly to disbursements, and the cross-sell engine is beginning to fire. Asset quality metrics showed broad-based improvement, supported by robus

Kanohar Electricals reported a strong operational and financial performance for Q1 FY27, driven by robust volume growth in 400 kV power transformers and specialized railway transformers, backed by healthy order inflows and stable margin profiles supported by price variation clauses.

Asset Reconstruction Company (India) Limited (Arcil) reported strong performance for Q1 FY27, driven by a 151% YoY surge in total recoveries and a 107% YoY increase in standalone PAT to INR143 crores, despite light seasonal acquisitions. Management highlighted that performance should be evaluated over longer periods due to the chunky nature of corporate recoveries and seasonal acquisitions.

Sudarshan Chemical delivered a robust Q1 FY2027 performance following the Clariant-Heubach integration, achieving consolidated revenue of over Rs.2,600 Crores and solid EBITDA expansion. Despite geopolitical headwinds and supply chain friction, management remains focused on value capture, cost reduction, and completing IT integration while maintaining a cautious wait-and-watch approach on guidance.

Knowledge Marine & Engineering Works Limited reported robust financial growth for Q1 FY27, driven by strong execution in core dredging and specialized asset deployment. Management remains confident in scaling operations across dredging, chartering, and shipbuilding, targeting a INR1,000 crores top-line by FY29.

India Glycols delivered a strong Q1 FY27 with double-digit growth in gross revenue, EBITDA, and PAT, alongside steady progress on its NCLT-approved business restructuring into separate entities.

Bansal Wire Industries Limited reported a strong financial year for FY2025-26 with consolidated revenue growing 19% to Rs 4,160 crore, EBITDA up 17% to Rs 324 crore, and PAT rising 10% to Rs 161 crore, backed by record volumes of 4,58,000 tonnes. Management remains optimistic about sustainable growth driven by capacity expansion at Dadri, scaling of high-margin specialty and B2C segments, and improved cash generation.

Vikran Engineering Limited reported strong financial and operational performance for FY 2025-26, characterized by robust revenue growth, public market listing, and substantial expansion in its order book supported by diversification into solar EPC and renewable energy assets. Execution remains healthy, with several key transmission projects commissioned ahead of schedule.

Man Industries reported robust performance in Q1 FY27 with consolidated EBITDA reaching a record INR155 crores (up 92.6% YoY) and stand-alone PAT more than doubling YoY, driven by optimized product and geographic mix. Management maintains an optimistic outlook underpinned by a structural multiyear demand cycle across MENA, GCC, and Southeast Asia, along with strategic capacity additions in Saudi Arabia (NPC acquisition, Dammam coating facility) and Jammu (stainless steel proj

Karamtara Engineering Limited delivered a strong first quarterly performance as a listed company for Q1 FY27, reporting 72% YoY revenue growth to INR1,581 crores and 45% YoY PAT growth to INR87 crores, driven by robust renewable demand and international expansion.

Solex Energy reported a landmark FY26 with strong top-line and bottom-line growth, backed by a robust order book and ambitious expansion plans across the solar value chain and BESS, while acknowledging the execution risks of large capital projects.

Zenith Drugs Limited reported robust top-line growth and improved working capital metrics for FY 2025-26, although PAT declined due to higher depreciation from new asset capitalization. Management remains optimistic about future scaling through new chronic therapy product launches and export expansion.

VA Tech Wabag reported record FY 2025-26 performance with revenue of INR 3,944 Crores, EBITDA of INR 524 Crores, and PAT of INR 371 Crores, supported by a robust order book exceeding INR 17,200 Crores and a net cash positive position for the sixth consecutive year.

Granules India Limited reported returning to growth in FY26 after three years of flat performance, backed by a strong net cash position following preferential warrants in September 2026. The company is executing a strategic transformation focusing on four growth engines (controlled substances, complex generics/early market opportunities, oncology, and peptide CDMO) while funding a 2,000 crore organic capex plan over the next 3 to 4 years.

Steamhouse India Limited delivered robust operational performance for Q1 FY27, driven by strong growth in steam volumes and operating leverage, while completing its strategic exit from low-margin coal trading effective April 1, 2026.

RateGain reported a transformative FY26 driven by the acquisition of Sojern, significantly scaling operating revenue by 69.4% to INR1,823.6 crores. While reported PAT declined due to amortization, other income absence, and acquisition debt interest, adjusted PAT rose 19.6% to INR249.9 crores. Management successfully integrated Sojern ahead of plan, capturing $15 million in annualized cost synergies within 100 days, and has aggressively used robust free cash flow to repay 38%

Schaeffler India Limited's management highlighted robust domestic demand supported by GST 2.0 and government infrastructure spend, while maintaining a cautious approach to pure export strategies and emerging EV profitability due to low initial adoption rates.

Allcargo Logistics reported a purposeful transformation year in FY2025-26, integrating express distribution and contract logistics under Vision 2030, resulting in revenue of INR 2,058 crores and a 16% growth in EBITDA to INR 233 crores.

Pakka Limited held its 46th AGM reflecting on a demanding FY 2025-26 marked by operational shutdowns, equipment breakdowns, project delays, and lower earnings, while pointing to an improving June quarter and ongoing progress on Project Jagriti for long-term growth.

Symbiotec Pharmalab reported Q1 FY27 consolidated revenue of INR 218 crores (up 7% YoY), driven mainly by the stable steroid API business. However, consolidated net profit stood lower at INR 14 crores due to a significant operational expense drag of INR 23 crores and depreciation of INR 11 crores from recently invested new businesses (biotech CDMO and complex injectables) where commercial revenues are yet to commence. Management maintains a confident revenue and EBITDA growth

LIC Housing Finance Limited reported record performance in FY 2025-26 with a loan book of Rs 320,707 crore and PAT of Rs 5,595 crore, driven by synergy across operations, cost management, and declining cost of funds. Management guided towards sustainable double-digit growth and margin protection via product diversification into LAP and LRD, while acknowledging legacy asset quality challenges and intense competition from banks.