Concall Intelligence

The available source has not produced sufficient structured evidence.

Tech Mahindra delivered strong revenue and profit growth, highlighted AI and vertical wins, and expressed confidence in sustaining momentum into the December quarter.

Indian Bank reported a strong set of results for Q2 FY27 with net profit growing 14.71% YoY to Rs.3,462 crore (aided by NSE listing gains), healthy advances growth of 16.39%, and improving asset quality metrics with GNPA at 1.61%. Management has revised its deposit and advances growth guidance upwards for the full year while acknowledging potential headwinds from regulatory changes, potential HTM valuation shocks, and credit cost normalisation under ECL models.

Quarterly results showed modest revenue growth and a decline in profit, while management highlighted strong AUM growth, improved ARR retention, and long‑term profitability targets, but flagged margin pressure from higher costs and reliance on UBS flow execution.

Waaree Renewable Technologies Limited reported strong top-line growth with Q2 FY27 revenue up 36.5% YoY to Rs 1,057.84 Cr, alongside a healthy unexecuted order book exceeding Rs 5,500 Cr. However, PAT contracted by 29.98% YoY to Rs 81.48 Cr due to higher input costs, employee expenses, and financing costs, leading to margin compression.

CCL delivered strong Q2 results with double‑digit volume growth and profit expansion, and management reaffirmed its FY27 guidance of ~15% volume and EBITDA growth, while noting coffee price volatility and capacity considerations.

Emmvee delivered strong Q2 FY27 results with double‑digit revenue and profit growth, maintained high margins, and indicated that its expansion projects are on schedule, but future finance costs will rise post‑commissioning.

Anand Rathi Share and Stock Brokers Limited delivered a robust financial performance in Q2 FY27, reporting strong year-on-year growth in revenue and PAT supported by expansion in the Margin Trading Facility (MTF) and distribution businesses, despite a turbulent secondary market.

Shoppers Stop delivered modest top‑line growth and a turnaround to profitability, driven by strong festive demand, premiumisation initiatives and new store openings, while highlighting ongoing work on inventory and working‑capital optimisation.

D.B. Corp reported a decline in Q2 FY27 revenue and PAT due to the festive season (Navaratra) shifting into Q3 and temporary headwinds such as panchayat election codes of conduct, though underlying advertising and EBITDA registered positive single-digit growth on a like-to-like basis.

E2E Networks delivered robust financial performance in Q2 FY27 with triple-digit YoY revenue growth and margin expansion, supported by Blackwell GPU deployment and improved utilization. Management maintains a disciplined approach to capex and avoids speculative guidance.

ICICI Life delivered solid revenue and profit growth despite macro volatility, with strong VNB expansion and margin stability, while emphasizing continued investment in agency distribution and upcoming regulatory reforms.

SG Finserve delivered strong Q2 FY27 results with record PAT and loan book growth, but management plans to increase leverage to 4x and targets 30‑35% AUM growth YoY, introducing execution and capital‑raising considerations.

Angel One delivered resilient Q2 FY27 results with consolidated revenue of 14.3 billion rupees and PAT of 3.35 billion rupees despite subdued capital market volumes. Operating margins expanded significantly year-over-year, supported by operating leverage and a diversified revenue mix.

HDFC Asset Management delivered solid revenue growth and maintained high profitability, while highlighting continued expansion of SIP inflows, alternative platform launches, and disciplined cost management; however, guidance on future revenue mix and margins remains limited.

Tips Music delivered strong top‑line and profit growth in Q2 FY27, driven by new releases and catalog performance across digital and non‑digital platforms. Management upgraded FY27 growth guidance but highlighted a front‑loaded content spend, ongoing YouTube Shorts negotiations and a smaller‑film focus for H2.

HDB Financial Services delivered strong top‑line and profit growth in Q2 FY27, driven by robust disbursements across enterprise and consumer segments, improved asset quality and margins, and continued capital strength. Management is optimistic about H2, citing festive demand and capacity to scale, but flags monsoon‑related inflation, seasonal asset‑quality pressures and regulatory fee uncertainties as risks.

Sri Lotus delivered strong revenue and profit growth in Q2 FY27, with robust pre‑sales and expanding margins, while management signals confidence in H2 launches and FY27 targets, albeit with execution and pricing risks.

GTPL delivered strong top‑line growth driven by subscriber additions and the ACT acquisition, but profitability remained weak with a negative PAT and a decline in operating EBITDA margin, highlighting the need for integration synergies and margin recovery.

Polycab delivered record revenue and profit growth in Q2 FY27, driven by strong demand across wires & cables and FMEG segments, while management reiterated an unchanged outlook despite macro‑headwinds and noted exposure to commodity and logistics risks.

Tata Elxsi reported Q2 FY27 operating revenue of INR 1055.7 crores (up 2.3% QoQ in constant currency) and an EBITDA margin of 21.9%, absorbing annual wage hikes through operational leverage and realization of one-offs. While US and India markets performed well, Europe remains soft and sluggish, particularly in automotive. Management expects an upward margin trajectory and better second-half performance compared to the first half.

The available source has not produced sufficient structured evidence.

Tata Technologies delivered solid revenue growth and maintained operating margin despite salary headwinds, but sequential PAT declined and technology solutions revenue fell due to accounting changes.

Karur Vysya Bank delivered strong revenue and profit growth in Q2 FY26-27, with business expansion and robust CASA inflows, while maintaining NIM above guidance; management signals cautious but optimistic outlook for FY26-27 growth of 18-20% and highlights competitive pressure on margins.

The available source has not produced sufficient structured evidence.

The available source has not produced sufficient structured evidence.

Metropolis Healthcare reported robust strategic positioning during its Investor and Analyst Meet, highlighting strong volume-led growth across B2C and B2B channels, expansion in tier-2/tier-3 towns, and margin expansion levers driven by specialty testing, genomics, and network productivity.

The proposed regulatory updates pose a material threat to PB Fintech's general insurance revenue and current operating model, necessitating substantial cost rationalization and strategic pivots. The long-term impact hinges on the final regulatory framework and the company's ability to monetize new services or business models like MGA.

The available source has not produced sufficient structured evidence.

The available source has not produced sufficient structured evidence.

The available source has not produced sufficient structured evidence.

The available source has not produced sufficient structured evidence.

The available source has not produced sufficient structured evidence.

The Delhi High Court's order for a forensic audit into past transactions, including IHH's primary share issuance, creates a significant legal overhang. While management asserts no operational impact and full compliance, the 6-month audit timeline and potential for further litigation prolong uncertainty, diverting management focus and potentially impacting brand perception.

The available source has not produced sufficient structured evidence.

The available source has not produced sufficient structured evidence.

The available source has not produced sufficient structured evidence.

The successful merger and strong proforma FY2026 results, coupled with clear strategic priorities for integration and network expansion, suggest the company is on track to leverage scale and clinical depth. Management's focus on capital efficiency and margin improvement supports the long-term value creation thesis.

Happiest Minds Technologies announced a proposed combination with ITC Infotech involving a promoter stake sale by Mr. Soota and a subsequent scheme of amalgamation of Happiest Minds into ITC Infotech, aiming to accelerate the $1 billion revenue target to FY28.

The available source has not produced sufficient structured evidence.

Ujjivan Small Finance Bank announced the early retirement of its MD & CEO due to health reasons and appointed Ms. Carol Furtado as Interim MD & CEO. Management reassured stakeholders of continuity in strategy, strong governance, and commitment to FY27 guidance, emphasizing that growth plans and capital adequacy remain unaffected by the leadership transition or potential delays in capital raising. The search for a permanent MD & CEO has been expedited.

The available source has not produced sufficient structured evidence.

The available source has not produced sufficient structured evidence.

Can Fin Homes experienced a significant impact on Q2 FY27 disbursements due to its IT transformation project, Project Tejas, which is now fully live. Despite this, management maintains its full-year disbursement and AUM growth guidance, confident in a strong H2 recovery driven by increased sales team strength, new branches, and robust underlying demand. The company also aims to protect its NIM and spread by strategically passing on interest rate hikes.

The available source has not produced sufficient structured evidence.

The available source has not produced sufficient structured evidence.

The available source has not produced sufficient structured evidence.

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.

Sterling and Wilson Renewable Energy Limited reported a decline in overall revenue and profitability for Q2 FY27 due to lower execution in the International EPC segment, although O&M revenue saw strong growth and gross margins showed slight improvement.

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.