Tempsens Instruments (India) LimitedQ2 FY27 Results & Financial Update
Tempsens Instruments (India) Limited: Q2 FY27 consolidated results and company financials – revenue ₹255.02 Cr, PAT ₹35.70 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Tempsens Instruments (India) 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
According to the company's investor presentation for Q2 and H1 FY27, revenue from operations grew 34.0% year-on-year for the second quarter, while consolidated half-yearly revenue for H1 FY27 rose 33.7% year-on-year to ₹2,550.22 million. The growth was supported by both organic expansion and the consolidation of newly acquired overseas subsidiaries including Tempsens Germany, Tempsens Polska, and Tempsens Measurement and Control.
Segmentally, Temperature Sensing Solutions expanded strongly, driven by sustained industrial demand in thermal power and OEM applications alongside contributions from newly consolidated entities. Specialised Cables revenue recovered from a softer first quarter, registering sequential momentum, while Electrical Heating Solutions benefited from the ramp-up of the heater manufacturing facility.
Geographically, export revenue experienced robust expansion, supported by strong demand across key international markets and the contribution of European subsidiaries, elevating the export share of product revenue. Domestic revenue also registered steady year-on-year growth.
The quarter's profitability reflects active cost absorption, including higher employee benefit expenses associated with expanded headcount and ESOP charges. Finance costs moderated sequentially following debt repayments executed out of IPO proceeds, while deferred tax credits supported bottom-line performance during the period.
01 · Business model
What does Tempsens Instruments (India) do?
Tempsens Instruments (India) Limited is a specialized thermal engineering company manufacturing temperature sensors, electrical heating solutions, and specialized cables for industrial applications.
The company's primary product verticals encompass temperature sensing solutions (contact and non-contact sensors, thermocouples, resistance temperature detectors, thermal imagers, pyrometers), electrical heating solutions (industrial process heaters, immersion heaters, cartridge heaters, and custom-built furnaces), and specialized cables (LV control and power cables, instrumentation cables, mineral insulated metal sheath cables).
Tempsens serves an extensive base of industrial customers spanning petrochemicals, thermal and nuclear power, metals, glass, plastics, automotive, and life sciences sectors across India and over 80 export destinations globally.
02 · Historical context
What shaped the business before this quarter
The company completed its Initial Public Offering of 21,666,666 equity shares at ₹300 per share, with equity shares listing on NSE and BSE on August 28, 2026, raising fresh issue gross proceeds of ₹950.0 million.
The group expanded its operational footprint through the incorporation of subsidiaries and joint ventures, including Tempsens Germany and Tempsens Polska in January 2026, Tempsens Measurement and Control in March 2026, and the establishment of Victura Tempsens Technologies Private Limited on April 1, 2026.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q2 FY27 |
|---|---|
| Revenue from operations | ₹255.02 Cr |
| Total income | ₹259.41 Cr |
| Profit before tax | ₹42.75 Cr |
| Profit after tax | ₹35.70 Cr |
| EPS | ₹4.14 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Driven by 57.3% YoY growth in H1 FY27 (reaching ₹1,329 million), bolstered by the addition of Tempsens Germany, Tempsens Polska, and Tempsens Measurement and Control, alongside organic demand from thermal power and OEM customers such as CVD equipment manufacturers.
Supported by significant dispatches to oil and gas customers in India, South-East Asia, and the Middle East, along with the ramp-up of the heater manufacturing facility.
Recovered from a softer Q1, posting sequential growth of 26.0% in Q2 FY27 to reach ₹409.8 million, driven by dispatches to thermal power, oil and gas, and chemical sectors.
Export revenue more than doubled in H1 FY27 to ₹937 million, contributing approximately 37% of product revenue, propelled by European subsidiaries and sustained traction in key export markets.
What drove margins
Cost of materials consumed and changes in inventories reflect raw material requirements for thermal sensors and heating equipment, with H1 FY27 gross material margins remaining broadly in line with historical annual levels around 45.7% to 46.0%.
Employee benefit expenses rose due to expanded headcount across operational units and a shared-based payment (ESOP) charge of ₹11.39 million for the half year ended September 30, 2026.
Finance costs moderated following the pre-payment or repayment of ₹550 million of borrowings utilizing net proceeds from the IPO fresh issue.
Scaling of manufacturing facilities and higher export realizations contributed to operational efficiency, although margin levels were modulated by integration expenses and upfront capacity costs.
05 · Demand, customers & order book
Where demand is coming from
The order pipeline remained healthy across thermal and nuclear power, steel, glass, and oil and gas sectors, with new approvals secured in the Middle East expected to open new export markets.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The Chief Operating Decision Maker reviews business performance at an overall Group level as a single operating segment designated as Industrial Products under Ind AS 108.
Geography and market mix
Domestic revenue for H1 FY27 grew 11.9% YoY to ₹1,594 million, while export revenue surged past ₹937 million, reflecting an export contribution of approximately 37% of total product revenue.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Brownfield expansion within existing Unit 1 of approximately 50,000 sq. ft. is underway for contact temperature sensors for OEMs, expected to be commissioned by Q3 FY28 with a peak revenue potential of c. ₹1,200 million per annum.
Brownfield expansion at Unit 6 of approximately 50,000 sq. ft. for mid-voltage heaters and pressure vessels is expected to be commissioned by Q1 FY28, with an estimated peak revenue potential of c. ₹2,000 million per annum.
Unit 8 export-focused specialized cable plant is expected to be commissioned by Q2 FY28 with a peak revenue potential of c. ₹600 million per annum, complemented by a joint venture facility (VTTPL) utilizing an 80,000 sq. ft. shed expected to commence commissioning by Q4 FY27 with a peak revenue potential of c. ₹1,200 million per annum.
Projects, capex and execution
Total capital expenditure for H1 FY27 was ₹367.3 million, which included ₹259.9 million allocated for leasehold land acquisition to support specialized cables expansion. Capital work-in-progress increased to ₹54.31 million as of September 30, 2026.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Pursuant to a joint venture agreement dated March 12, 2026, the company incorporated Victura Tempsens Technologies Private Limited on April 1, 2026, with an equal stake to expand specialized cable manufacturing capabilities.
Launched the EDGE series of non-contact temperature sensors combining thermal and visual cameras (384x288 and 640x480 pixels) for industrial temperature monitoring and surveillance.
09 · Reported developments
What changed operationally
Successfully completed the initial public offering and listed equity shares on NSE and BSE on August 28, 2026, raising ₹872.6 million in net proceeds.
Consolidated revenue from operations grew 34.0% YoY in Q2 FY27 and 33.7% YoY in H1 FY27, supported by broad-based segment momentum and international acquisitions.
10 · Pressure points & risks
What is not going smoothly
Specialised cables revenue experienced a softer Q1 before recovering in Q2 FY27, reflecting the timing of export order execution.
11 · Items worth noticing
The line items that can distort a quick read
The quarter benefited from a deferred tax credit of ₹14.98 million, supporting reported profit after tax alongside current tax expenses of ₹51.88 million.
12 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net cash generated from operating activities for H1 FY27 stood at ₹490.90 million, significantly higher than ₹108.91 million in H1 FY25, supported by strong operating profit before working capital changes of ₹507.16 million and improvements in trade payables and other liabilities.
Net cash used in investing activities was ₹286.02 million, driven by leasehold land purchases and property, plant, and equipment outlays. Net cash generated from financing activities reached ₹475.74 million, propelled by ₹872.66 million in net proceeds from the IPO share capital issuance offset by the repayment of short-term borrowings.
Capital allocation & funding
Total borrowings reduced significantly by 49% YoY to ₹407.3 million as of September 30, 2026 (from ₹779.48 million as of March 31, 2026), following the utilization of ₹550 million from IPO proceeds toward debt repayment. Consequently, the debt-equity ratio improved to 0.06x compared to 0.15x as of March 31, 2026.
13 · Beyond the numbers
What changed beyond the numbers
Reported update
Board Changes and Leadership Appointments
Mr. Aryan Rathi was appointed as Executive Director cum Lead-Global Sales for a period of 5 consecutive years effective October 30, 2026. Mr. Ankit Talesra resigned as Non-Executive Director due to personal reasons on October 30, 2026.
Reported update
Statutory Auditor Appointment
M/s P C Modi & Co. was appointed as Joint Statutory Auditor of the company until the conclusion of the ensuing Annual General Meeting, subject to shareholder approval.
Reported update
Utilization of IPO Proceeds
Out of ₹872.6 million in net IPO proceeds, ₹550.0 million was fully utilized for debt repayment, ₹6.10 million was deployed toward capex out of ₹181.34 million allocated, and ₹316.56 million remained unutilized as of September 30, 2026 (including ₹141.32 million earmarked for general corporate purposes).
14 · Previous-quarter changes
What changed since the previous quarter
Consolidated revenue from operations grew 14.8% sequentially from ₹1,187.07 million in Q1 FY27 to ₹1,363.15 million in Q2 FY27.
15 · Key Q&A
The quarter, answered directly
What does Tempsens Instruments (India) do?
Tempsens Instruments (India) Limited is a specialized thermal engineering company manufacturing temperature sensors, electrical heating solutions, and specialized cables for industrial applications.
What is the clearest takeaway from Q2 FY27?
According to the company's investor presentation for Q2 and H1 FY27, revenue from operations grew 34.0% year-on-year for the second quarter, while consolidated half-yearly revenue for H1 FY27 rose 33.7% year-on-year to ₹2,550.22 million. The growth was supported by both organic expansion and the consolidation of newly acquired overseas subsidiaries including Tempsens Germany, Tempsens Polska, and Tempsens Measurement and Control.
What drove revenue or demand?
Driven by 57.3% YoY growth in H1 FY27 (reaching ₹1,329 million), bolstered by the addition of Tempsens Germany, Tempsens Polska, and Tempsens Measurement and Control, alongside organic demand from thermal power and OEM customers such as CVD equipment manufacturers.
What mattered most for margins or profitability?
Cost of materials consumed and changes in inventories reflect raw material requirements for thermal sensors and heating equipment, with H1 FY27 gross material margins remaining broadly in line with historical annual levels around 45.7% to 46.0%.
What changed operationally beyond the headline numbers?
Brownfield expansion within existing Unit 1 of approximately 50,000 sq. ft. is underway for contact temperature sensors for OEMs, expected to be commissioned by Q3 FY28 with a peak revenue potential of c. ₹1,200 million per annum.
What are the main pressure points disclosed for the quarter?
Specialised cables revenue experienced a softer Q1 before recovering in Q2 FY27, reflecting the timing of export order execution.
16 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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17 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Capex Execution and Commissioning: Monitor the commissioning milestones of Unit 1 (contact sensors), Unit 6 (mid-voltage heaters), Unit 8 (specialized cables), and the Victura JV facility scheduled across FY27 and FY28.
- 02
Utilization of Remaining IPO Proceeds: Track the deployment of the remaining ₹175.24 million earmarked for capital expenditure and ₹141.32 million for general corporate purposes.
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