Concall Intelligence

CreditAccess Grameen Limited reported strong financial and operating performance for Q2 FY27, driven by robust AUM growth, improving asset quality back to pre-crisis levels, and higher profitability resulting in the highest-ever quarterly PAT crossing INR 500 Cr. Management revised FY27 performance guidance upwards across key return and margin metrics, supported by disciplined operating costs and strong capital positions.

Himadri Speciality Chemical Limited delivered robust consolidated revenue growth of 57.93% YoY to Rs. 1691.43 Cr and PAT growth of 31.33% YoY to Rs. 231.32 Cr for Q2 FY27, driven by scaling operations and value-added product expansion. However, significant working capital pressures resulted in negative net operating cash flows for H1 FY27.

Aurum PropTech reported Q2 FY27 revenue of 130.2Cr (up 64% YoY) and PAT of 4.3Cr, marking its fourth consecutive profitable quarter. The acquisition of Housing.com on September 29, 2026, roughly doubled its balance sheet and added 1,020Cr in carryforward losses. Management emphasized unit economic discipline, deep cost cuts at Housing, and a clear integration roadmap targeting profitability for Housing within 12 to 18 months.

Mahindra Lifespace Developers Limited reported mixed financial performance for Q2 FY27 with consolidated revenue of Rs 32.4 Cr and PAT of Rs 16.3 Cr, alongside strong operational pre-sales of Rs 1,063 Cr and healthy business development momentum with Rs 7,100 Cr in H1 GDV additions.

DLF Limited reported strong operating momentum in Q2 FY27 driven by robust new sales bookings of INR 3,800 crores, complete sellout of the Aureva luxury retirement housing launch, and a net cash position of INR 15,100 crores despite a large dividend payout. However, reported accounting revenue dropped 23.3% YoY due to the completed contract method of accounting, and construction outflows face temporary seasonal and GRAP-related risks.

Tejas Networks reported Q2 FY27 revenue of INR405.7 crores with a net loss of INR206.9 crores, reflecting continued scale-up and execution on the BSNL 4G expansion order while grappling with elevated debt and working capital requirements.

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.

Transformers and Rectifiers (India) Limited delivered robust performance in Q2 FY27 with revenue up 60.8% YoY and PAT jumping 120.0% YoY, supported by improved capacity utilization and operating leverage. Unexecuted order book remains strong at INR7,237 crore, providing solid multi-year visibility despite lingering working capital pressures and elevated inventory levels.

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.

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.

International Gemmological Institute (India) Limited reported robust financial performance for Q2 FY27, with consolidated revenue up 31% YoY to INR 3,980 Mn and PAT up 43% YoY to INR 1,858 Mn, driven by strong growth in certification volumes and increased mix of lab-grown diamonds (LGD).

Vishal Mega Mart Limited reported Q2FY27 revenue of Rs 3,398.5 crore, up 14.0% YoY, while PAT stood at Rs 157.9 crore, up 3.7% YoY. Results were adversely affected by an 18-day festive calendar shift from Q2 into Q3, creating operating deleverage that compressed margins temporarily.

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.

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.

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.

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.

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.

Sobha Limited reported a robust performance in real estate sales for H1 FY27, reaching a new high of Rs. 58.62 Bn, supported by strong luxury demand and positive net debt position, though profitability contracted slightly due to higher operational, sales and marketing, and land investments.

Sejal Glass reported strong year-on-year revenue and profit growth for Q2 FY27, driven by higher capacity utilisation, integration of acquired Glasstech plants, and robust performance from its UAE subsidiary. Management remains optimistic about achieving 25% to 40% revenue growth in FY27, supported by scaling operations and new specialty product launches.

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%

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.

Shankesh Jewellers Limited reported its maiden Q1 FY27 earnings post listing, highlighting strong top-line and margin expansion driven by product mix and festive demand, though the steep margin trajectory and heavy reliance on short-term working capital require close monitoring.

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.

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.

Vodafone Idea delivered a positive Q1 FY27 with revenue up 6.0% YoY to Rs. 11,689 Crore and Cash EBITDA up 13.5% YoY to Rs. 2,475 Crore, alongside the company's first quarter of positive net subscriber additions since its merger. Management maintains its 3-year Rs. 45,000 Crore capex plan and 3x cash EBITDA ambitions, backed by Rs. 6,400 Crore of initial funding mobilization, though supply chain headwinds slightly dented quarterly capex deployment.

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

Axis Bank delivered robust Q2FY27 performance with advances up 23% YoY and deposits up 21% YoY, while net profit grew 38% YoY to ₹7,003 crores supported by healthy net interest income growth and improving asset quality metrics.

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.

Urban Company reported strong growth across its core businesses, with consolidated NTV up 39.1% YoY and revenue up 41.4% YoY. The core businesses (India Consumer Services, International, Native) are showing significant operating leverage and margin expansion, leading to a positive adjusted EBITDA of ₹30 crores excluding InstaHelp. However, consolidated results reflect a substantial ₹174 crore investment in InstaHelp, which remains a strategic focus for long-term market leader

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.

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%.

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.

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

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.

Canara HSBC Life Insurance Company Limited reported financial results for the quarter ended September 30, 2026, with revenue of 2553.2Cr representing an 8.7% YoY increase and a 41.3% QoQ decline, while PAT stood at 43.0Cr representing a 5.0% YoY increase and 53.8% QoQ increase. The available transcript provides procedural disclosure of the analyst meet held on 9th October 2026 without specific business commentary or numeric breakdowns.

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.

Ganesh Benzoplast Limited has agreed to divest its liquid tank farm (LST) businesses at JNPA, Goa, and Cochin along with the JNPA-linked rail business for an aggregate valuation of INR 1,154 crores to KKR. The management plans to pivot into a chemical and EPC-focused pure play, returning approximately INR 200 crores from the first tranche to public shareholders via a special dividend and buyback while reinvesting the balance into expanding the chemical segment and scaling the

Centum Electronics delivered a steady Q1 FY27 performance with stand-alone revenue growing 11% YoY to INR205 crores and stand-alone order book expanding 31% YoY to INR1,800 crores. The quarter was marked by the successful completion and deconsolidation of overseas subsidiaries, eliminating future liabilities and sharpening focus on the core India ESDM platform, despite some near-term margin mutedness due to project phasing in the BTS segment.

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.