Concall Intelligence

The available source has not produced sufficient structured evidence.

DLF Limited reported a mixed financial performance for Q2FY27 with revenue contracting YoY while PAT and operating cash flows remained robust, supported by strong collections and high occupancies across its annuity portfolio.

Jindal Saw delivered higher year-on-year revenues for Q2 FY27 but faced severe operational margin compression due to geopolitical tensions in West Asia delaying shipments, higher international/domestic logistics costs, soaring coking coal prices, and softness in the domestic water infrastructure segment.

IRFC reported a robust performance for Q2 FY26-27, driven by successful business diversification and double-digit PAT growth across five of the last six quarters. Management remains confident in achieving its near-term and long-term AUM and profitability milestones while maintaining a low weighted average cost of capital.

Aye Finance Limited delivered a strong operational and financial performance in Q2 FY27, driven by robust AUM growth, improving asset quality, and record quarterly profitability supported by enhanced operational efficiency and lower credit costs.

SRF Limited reported a consolidated revenue of 4,904.2 Cr and a PAT of 509.1 Cr for Q2 FY27, backed by robust growth in the Chemicals and Performance Films businesses, while navigating elevated input, freight, and fuel costs.

Jio Financial Services reported strong operational scale-up across its core verticals during Q2 FY27, backed by 154% YoY growth in Jio Credit AUM and significant digital user engagement, though consolidated reported PAT declined due to shifting dividend timing effects compared to the previous year.

LTM Limited reported steady Q2 FY2027 performance with 1.1% QoQ constant currency revenue growth and stable EBIT margins of 15.6%, while pivoting strongly toward AI-centric offerings and advancing strategic M&A execution.

Kross Limited delivered strong Q2 FY '27 financial results driven by robust M&HCV and trailer segment demand, capacity expansion, and improving wallet share, though margins faced pressure from rising commodity and consumable costs.

The investment thesis of low-cost, integrated rebar production in Uttar Pradesh faces near-term margin pressure. While revenue grew 13% YoY, sequential compression in EBITDA per tonne and net profit highlights vulnerability to commodity spreads and cost inflation, despite captive power and distribution strengths.

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

The Indian Hotels Company Limited reported strong financial results for Q2 FY27 with 21.7% YoY revenue growth and 19.4% YoY PAT growth, driven by robust domestic hospitality demand, scaling selective service brands, and asset management initiatives.

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.

The core mutual fund QAAUM grew 4% YoY and equity QAAUM expanded 9% YoY, supported by steady SIP additions. However, PAT declined YoY due to lower other income and higher employee expenses, while alternate assets scaled via mandates.

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.

The investment thesis remains intact as operating performance is strong with stable EBITDA margins near 35%, significant operating cash flow growth, and low net debt to equity of 0.12x. The 6 GW expansion remains on track for commissioning by December 2026 for modules and March 2027 for cells.

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.

Bajaj Consumer Care delivered a resilient performance in Q2 FY27 amid raw material volatility, reporting double-digit unit volume growth in its core Almond Drops franchise and maintaining strong EBITDA and PAT margins through fixed cost efficiencies.

Piramal Finance Limited reported strong financial results for Q1 FY27, driven by robust growth in retail lending and a granular Wholesale 2.0 portfolio, while successfully continuing the rundown of legacy wholesale assets. The company maintains solid capitalization, high liquidity coverage, and a steadily improving operating leverage.

Bajaj Finance Limited reported a strong performance for Q2 FY27 with a 26% YoY growth in AUM to ₹584,624 crore, supported by healthy profitability, improved asset quality metrics, and aggressive FINAI transformation initiatives, alongside a board-approved capital raising plan.

Le Travenues Technology Limited (IXIGO) reported resilient Q2 FY27 performance with GTV up 22% YoY and revenue from operations up 13% YoY to Rs 321 Crores, supported by strong growth in Flight and Bus segments and the new Hotel line. PAT reached an all-time high aided by a partial stake sale in Freshbus, while management continues to invest in hotels and AI capabilities.

Union Bank of India delivered solid financial performance for Q2 FY2027 with strong growth in Net Interest Income, improved asset quality metrics including lower GNPA and NNPA ratios, and robust capital adequacy, alongside ongoing investments in digital initiatives and centralized surveillance systems.

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.

Punjab & Sind Bank reported steady financial growth for the quarter ended June 30, 2026, supported by an expanding RAM portfolio, improved asset quality metrics, and higher profitability ratios, although the source document is an investor presentation with earnings transcripts pending.

Yes Bank reported a Q2FY27 net profit of INR 1,080 crores, up 65% year-on-year, driven by healthy core operating income and steady asset quality, though the Supreme Court judgment on AT-1 bonds remains unrecognised pending assessment.

Central Bank of India delivered strong financial performance in Q2 FY2026-27, highlighted by a 21.10% YoY increase in net profit to Rs 1469 Cr and robust advances growth of 29.83%. Asset quality metrics improved further with Gross NPA declining to 2.39% and Net NPA dropping to 0.31%, supported by a high Provision Coverage Ratio of 97.16%. However, CASA ratio contracted to 44.65% and the cost-to-income ratio remained elevated at 58.95% against the full-year target of under 56%

ICICI Lombard General Insurance Company Limited reported robust H1 FY2027 performance, outpacing industry growth in segments like Retail Health and Commercial lines while maintaining strict underwriting discipline, though overall PBT and PAT dipped slightly and industry-wide Motor combined ratios remained heavily stressed.

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.

IOL Chemicals and Pharmaceuticals Limited reported its business update call focusing on three strategic growth initiatives totalling approximately INR500 crores, including Ibuprofen capacity expansion, entry into the CDMO formulations segment, and a specialty chemical tolling arrangement. Management highlighted disciplined internal accrual funding and long-term customer relationships, while noting that input prices have stabilized and some product prices have softened from pe

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.

Euro Pratik Sales Limited announced the acquisition of a 56% stake in Fabwood Solutions LLP for up to INR42.7 crore to expand into timber and value-added wood products, while management guided for a 35% to 40% top-line growth rate for FY27.

Novartis India Limited is undergoing a complete commercial reset following its acquisition by ChrysCapital. The management aims to transition the company from a flattish revenue trajectory to a high-growth platform by building an internal field force of ~900 representatives, expanding distribution to 25 C&Fs and 4,000-5,000 distributors, executing strategic M&As (such as Minipress XL and ophthalmology in-licensing), and focusing on six core therapy areas.

Indigo Paints delivered a strong Q1 FY27 with 18.7% standalone revenue growth and a 42% jump in EBITDA, outperforming the broader paint sector despite initial raw material supply disruptions triggered by the Iran conflict.

Apeejay Surrendra Park Hotels Limited reported solid Q1 FY2027 performance with consolidated revenue up 10% YoY to Rs. 172 crores and EBITDA up 8% YoY to Rs. 52 crores, despite macroeconomic headwinds, West Asia disruptions, and subdued air traffic. Leadership in occupancy (92%) and upper upscale RevPAR was retained, while Flurys expanded to 111 outlets. Profit after tax declined 14% YoY to Rs. 12 crores due to higher finance costs for expansion and a deferred tax provision a

Horizon Industrial Parks Limited reported a strong Q1 FY27 operating performance with 23% YoY revenue growth to INR200 crores and an EBITDA margin of 80%, supported by successful IPO primary capital raising of INR4,250 crores used for deleveraging.

Gaja Alternative Asset Management Limited reported a steady performance for Q1 FY27 with total income growing 26% YoY to INR51.8 crores and PAT growing 35% YoY to INR27.2 crores, supported by strong institutional interest following its successful IPO.

Skyways Air Services Limited reported a strong first earnings call for Q1 FY27, showcasing stellar revenue and operating EBITDA growth driven by robust air and ocean cargo volumes, alongside successful navigation of geopolitical crises like the West Asia conflict. However, yield improvements are largely tied to dynamic fuel index increases which act as a complete pass-through, and certain legal overhangs remain sub judice.

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.

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.

Prasol Chemicals reported an exceptional Q1 FY27 driven by strong underlying demand, higher realizations from lower-cost inventory in a rising price environment due to geopolitical supply-chain disruptions, and improved plant utilization, particularly at the Mahad facility which has turned EBITDA and PBT positive.

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.