Bharat Gears LimitedQ2 FY27 Results & Financial Update
Bharat Gears Limited: Q2 FY27 standalone results and company financials – revenue ₹238.17 Cr, PAT ₹4.10 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 Gears 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 Gears Limited reported standalone revenue from operations of INR 238.17 crore for the quarter ended September 30, 2026, marking an increase compared to INR 215.65 crore in the preceding quarter ended June 30, 2026.
Total income for Q2 FY27 reached INR 239.11 crore, supported by other income of INR 0.93 crore.
Profit before tax (PBT) for the quarter stood at INR 5.44 crore, expanding significantly from INR 0.20 crore in Q1 FY27.
Net profit after tax (PAT) for the quarter was reported at INR 4.10 crore, compared to INR 0.15 crore in the previous quarter.
Basic and diluted earnings per share (EPS) for Q2 FY27 rose to INR 2.67 from INR 0.10 in the preceding quarter.
Total expenses for the quarter amounted to INR 233.67 crore, driven by cost of materials consumed and changes in inventories.
Tax expense for the period was recorded at INR 1.34 crore, comprising current tax of INR 1.73 crore offset by deferred tax credit.
01 · Business model
What does Bharat Gears do?
Bharat Gears Limited is primarily engaged in the manufacturing of automotive gears and related components, serving domestic and international vehicle manufacturers.
The company operates through its registered office and manufacturing facilities, supplying specialized gear solutions for various automotive applications.
The operating model relies on heavy manufacturing infrastructure, raw material consumption, and continuous inventory management to support automotive supply chains.
02 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹238.17 Cr | ₹215.65 Cr |
| Total income | ₹239.11 Cr | ₹216.06 Cr |
| Profit before tax | ₹5.44 Cr | ₹0.20 Cr |
| Profit after tax | ₹4.10 Cr | ₹0.15 Cr |
| EPS | ₹2.67 | ₹0.10 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 1.7% 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 2.3% 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 ₹0.93 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
Revenue from operations increased to INR 238.17 crore in Q2 FY27 from INR 215.65 crore in Q1 FY27, reflecting higher sequential business activity.
Other income contributed INR 0.93 crore to the total income of INR 239.11 crore for the quarter.
What drove margins
Cost of materials and components consumed stood at INR 130.33 crore, offset by a positive change in inventories of finished goods and work-in-progress amounting to INR 8.04 crore.
Employee benefits expense was recorded at INR 38.12 crore, while other expenses totalled INR 64.96 crore for the quarter.
Finance costs stood at INR 3.49 crore and depreciation and amortisation expenses were recorded at INR 4.82 crore for Q2 FY27.
04 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company is primarily engaged in the Automotive Gears business and all other activities revolve around the same, with no separate reportable segments under Ind AS 108.
05 · Reported developments
What changed operationally
Net profit improved to INR 4.10 crore in Q2 FY27 compared to INR 0.15 crore in the preceding quarter.
06 · Pressure points & risks
What is not going smoothly
Statutory auditors drew attention to concerns raised regarding certain practices of the Chairman and Managing Director, noting that an independent external agency submitted a draft preliminary observations report which is under assessment by management and the Audit Committee.
07 · Items worth noticing
The line items that can distort a quick read
The financial results reflect provisions amounting to INR 5.30 crore for the quarter.
08 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
For the six-month period ended September 30, 2026, net cash flows from operating activities stood at INR 23.17 crore.
Capital allocation & funding
As at September 30, 2026, non-current borrowings stood at INR 14.53 crore, while current borrowings were recorded at INR 44.39 crore.
09 · Beyond the numbers
What changed beyond the numbers
Reported update
Statutory Review and Governance Matters
The standalone financial results for Q2 FY27 were reviewed by the Audit Committee and approved by the Board of Directors on October 30, 2026, alongside limited review by the statutory auditors carrying an emphasis of matter regarding ongoing internal assessments.
10 · Previous-quarter changes
What changed since the previous quarter
Q2 FY27 earnings showed expansion across revenue, PBT, and PAT compared to the quarter ended June 30, 2026.
11 · Key Q&A
The quarter, answered directly
What does Bharat Gears do?
Bharat Gears Limited is primarily engaged in the manufacturing of automotive gears and related components, serving domestic and international vehicle manufacturers.
What is the clearest takeaway from Q2 FY27?
Bharat Gears Limited reported standalone revenue from operations of INR 238.17 crore for the quarter ended September 30, 2026, marking an increase compared to INR 215.65 crore in the preceding quarter ended June 30, 2026.
What drove revenue or demand?
Revenue from operations increased to INR 238.17 crore in Q2 FY27 from INR 215.65 crore in Q1 FY27, reflecting higher sequential business activity.
What mattered most for margins or profitability?
Cost of materials and components consumed stood at INR 130.33 crore, offset by a positive change in inventories of finished goods and work-in-progress amounting to INR 8.04 crore.
What changed operationally beyond the headline numbers?
The standalone financial results for Q2 FY27 were reviewed by the Audit Committee and approved by the Board of Directors on October 30, 2026, alongside limited review by the statutory auditors carrying an emphasis of matter regarding ongoing internal assessments.
What are the main pressure points disclosed for the quarter?
Statutory auditors drew attention to concerns raised regarding certain practices of the Chairman and Managing Director, noting that an independent external agency submitted a draft preliminary observations report which is under assessment by management and the Audit Committee.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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