CMR Green Technologies (CMRGREEN) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 revenue, EBITDA and PAT grew 59.2%, 30.5% and 25.4% YoY; H1 growth was 61.9%, 28.9% and 23.7%.

• Q2 sales volume rose 14.4% to 119,959 MT; H1 volume grew 18.7% to 232,295 MT, led by aluminium and expanding product lines.

• Expansion into billets, sheet ingots, UBC recycling and liquid-metal supply supports product-mix improvement and growth beyond automotive castings.

Financial highlights

• Consolidated Q2 revenue was ₹3,471.85 crore and PAT ₹72.65 crore; H1 revenue was ₹6,594.58 crore and PAT ₹140.83 crore.

• Q2 EBITDA was ₹150.7 crore and PBT ₹94.32 crore; H1 EBITDA was ₹290.2 crore and PBT ₹183.98 crore.

• Standalone Q2 revenue and PAT were ₹1,786.57 crore and ₹34.95 crore; H1 revenue and PAT were ₹3,399.97 crore and ₹70.20 crore.

Outlook and guidance

• FY27 volume guidance is 5 lakh tonnes; FY28 budgeted volume growth is 18%, with an 80% aluminium and 20% non-aluminium mix.

• FY27 capacity is expected to exceed 7.0 lakh MTPA, up from 6.2 lakh MTPA in FY26; two new plants are planned to begin production by FY27.

• Operating cash flow is expected to turn positive by March 2027, particularly in H2; borrowings are expected to remain near current levels as growth continues.

• Billet and UBC facilities are expected to reach 100% or near 100% utilization by March 2027; beverage-can utilization is projected to exceed 90%.

• Management targets 20% ROCE over 2–3 years; further capacity additions and CapEx will precede demand, with no FY29+ capacity figure set.