Bharat Bijlee LimitedQ2 FY27 Results & Financial Update
Bharat Bijlee Limited: Q2 FY27 standalone results and company financials – revenue ₹736.16 Cr, PAT ₹46.04 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Bharat Bijlee Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Bharat Bijlee posted strong sequential top-line and bottom-line expansion for the quarter ended September 30, 2026, with revenue from operations reaching ₹736.16 crore compared to ₹547.17 crore in the preceding quarter ended June 30, 2026.
Profitability expanded sharply on a sequential basis, driven by robust performance in the Power Systems division. Profit before tax (PBT) reached ₹61.00 crore, more than doubling from ₹26.09 crore in the previous quarter.
Net profit (PAT) for the quarter stood at ₹46.04 crore, reflecting a substantial increase from ₹19.63 crore recorded in Q1 FY27.
Basic and diluted earnings per share (EPS) for the quarter rose correspondingly to ₹40.73 compared to ₹17.37 in the preceding quarter.
The Power Systems segment emerged as the primary growth engine for the quarter, generating segment revenue of ₹440.11 crore compared to ₹274.16 crore in Q1 FY27, while Industrial Systems delivered steady revenue of ₹296.05 crore.
Total expenses for the quarter stood at ₹691.14 crore, which included raw material consumption of ₹607.30 crore, employee benefits expense of ₹64.69 crore, and other expenses of ₹50.06 crore, offset by a negative change in inventories of finished goods, stock-in-trade, and work-in-progress amounting to ₹53.31 crore.
01 · Business model
What does Bharat Bijlee do?
Bharat Bijlee Limited is an established electrical engineering company in India, operating out of its registered office and manufacturing facilities in Mumbai.
The company's primary business operations are structured into two key segments: Power Systems, which encompasses transformers, turnkey projects for electrical substations, and maintenance products; and Industrial Systems, which includes electric motors, drives and automation systems, and magnet technology machines.
Bharat Bijlee serves industrial customers, utilities, and infrastructure developers through its heavy electrical equipment manufacturing and specialized engineering execution.
The company has no subsidiaries, associates, or joint ventures as of September 30, 2026, meaning its reported standalone financial statements represent its entire business enterprise.
02 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹736.16 Cr | ₹547.17 Cr |
| Total income | ₹752.14 Cr | ₹558.06 Cr |
| Profit before tax | ₹61.00 Cr | ₹26.09 Cr |
| Profit after tax | ₹46.04 Cr | ₹19.63 Cr |
| EPS | ₹40.73 | ₹17.37 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 6.3% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 8.3% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹15.98 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Power Systems revenue jumped significantly to ₹440.11 crore in Q2 FY27 from ₹274.16 crore in Q1 FY27, serving as the dominant contributor to overall sequential top-line growth.
Industrial Systems revenue grew moderately to ₹296.05 crore compared to ₹273.01 crore in the preceding quarter.
What drove margins
Power Systems segment results (profit before finance costs, unallocable expenses, and tax) surged to ₹49.18 crore from ₹16.86 crore in Q1 FY27, whereas Industrial Systems segment results remained stable at ₹30.00 crore compared to ₹29.34 crore previously.
The company recorded a negative change in inventories of finished goods, stock-in-trade, and work-in-progress of ₹53.31 crore during Q2 FY27, reflecting inventory drawdowns or shifts in production staging during the period.
04 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Comprising transformers, turnkey substation projects, and maintenance products, this segment reported revenue of ₹440.11 crore and segment results of ₹49.18 crore for the quarter, with segment assets standing at ₹1,013.71 crore.
Comprising electric motors, drives and automation systems, and magnet technology machines, this segment reported revenue of ₹296.05 crore and segment results of ₹30.00 crore, with segment assets standing at ₹520.98 crore.
05 · Capacity, projects & execution
What is being built, commissioned or delivered
Projects, capex and execution
Capital work-in-progress stood at ₹140.84 crore as of September 30, 2026, increasing from ₹82.56 crore as of March 31, 2026, reflecting ongoing capital expenditure and infrastructure expansion.
06 · Reported developments
What changed operationally
Net profit for Q2 FY27 expanded by 134.54% sequentially to ₹46.04 crore, underpinned by strong execution and revenue expansion in the Power Systems division.
07 · Items worth noticing
The line items that can distort a quick read
Total tax expense for Q2 FY27 was ₹14.96 crore, comprising current tax of ₹14.32 crore and a deferred tax charge of ₹0.64 crore.
Current provisions stood at ₹22.71 crore as of September 30, 2026.
08 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
For the half-year ended September 30, 2026, net cash flows generated from operating activities stood at ₹10.02 crore, improving from a negative cash flow of ₹37.45 crore in the corresponding period of the previous year.
During the half-year ended September 30, 2026, the company experienced a cash outflow of ₹244.88 crore due to an increase in inventories, which was partially offset by increases in trade payables of ₹42.98 crore and other financial liabilities.
Capital allocation & funding
Current financial liabilities include short-term borrowings of ₹395.04 crore as of September 30, 2026, up from ₹301.00 crore as of March 31, 2026.
Finance costs for Q2 FY27 were reported at ₹7.87 crore, compared to ₹7.80 crore in Q1 FY27 and ₹3.72 crore in Q2 FY25.
09 · Beyond the numbers
What changed beyond the numbers
Reported update
Statutory Auditor Review
The financial results for the quarter and half-year ended September 30, 2026, were reviewed by statutory auditors Deloitte Haskins & Sells LLP, who issued an unmodified review report.
10 · Previous-quarter changes
What changed since the previous quarter
Revenue from operations increased by 34.54% from ₹547.17 crore in Q1 FY27 to ₹736.16 crore in Q2 FY27, while PBT grew by 133.81% to ₹61.00 crore.
11 · Key Q&A
The quarter, answered directly
What does Bharat Bijlee do?
Bharat Bijlee Limited is an established electrical engineering company in India, operating out of its registered office and manufacturing facilities in Mumbai.
What is the clearest takeaway from Q2 FY27?
Bharat Bijlee posted strong sequential top-line and bottom-line expansion for the quarter ended September 30, 2026, with revenue from operations reaching ₹736.16 crore compared to ₹547.17 crore in the preceding quarter ended June 30, 2026.
What drove revenue or demand?
Power Systems revenue jumped significantly to ₹440.11 crore in Q2 FY27 from ₹274.16 crore in Q1 FY27, serving as the dominant contributor to overall sequential top-line growth.
What mattered most for margins or profitability?
Power Systems segment results (profit before finance costs, unallocable expenses, and tax) surged to ₹49.18 crore from ₹16.86 crore in Q1 FY27, whereas Industrial Systems segment results remained stable at ₹30.00 crore compared to ₹29.34 crore previously.
What changed operationally beyond the headline numbers?
Capital work-in-progress stood at ₹140.84 crore as of September 30, 2026, increasing from ₹82.56 crore as of March 31, 2026, reflecting ongoing capital expenditure and infrastructure expansion.
What should the next disclosure help confirm?
Monitor the progression of capital work-in-progress, which stood at ₹140.84 crore as of September 30, 2026, toward commercial commissioning.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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Scenario profit after tax₹0 cr
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The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Execution of Capital Projects: Monitor the progression of capital work-in-progress, which stood at ₹140.84 crore as of September 30, 2026, toward commercial commissioning.
- 02
Power Systems Segment Momentum: Track revenue and margin stability in the Power Systems segment following its sharp performance acceleration in Q2 FY27.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.