Dhoot Transmission (DHOOTTRANS) Q2 26/27 earnings summary

Executive summary

• H1 FY27 revenue rose 56% YoY to ₹32,736.20m; adjusted PAT increased 33% to ₹2,964m.

• Q2 EV revenue was ₹5,701m, or 31% of revenue; growth reflects core harness demand, electrification, electronics expansion and Multilink consolidation.

• Q2 consolidated revenue was ₹18,272.05m and profit for the period was ₹1,178.24m; results include Multilink from June 10, 2026.

Financial highlights

• Q2 revenue was ₹18,272.05m (+61% YoY); reported EBITDA was ₹2,618m at a 14.3% margin, and adjusted PAT was ₹1,615m (+30%).

• H1 revenue was ₹32,736.20m (+56%); EBITDA was ₹4,802m at a 14.7% margin, and adjusted PAT was ₹2,964m (+33%).

• Consolidated profit before exceptional items and tax was ₹2,116.19m in Q2; after ₹547.61m exceptional items, Q2 profit for the period was ₹1,178.24m.

• Excluding Multilink, Q2 revenue rose 47% to ₹16,656m and EBITDA rose 22% to ₹2,450m; margin was 14.7% versus 17.5% a year earlier.

• Excluding Multilink, H1 revenue rose 47% to ₹30,851m and EBITDA rose 25% to ₹4,606m; margin was 14.9% versus 17.5% in H1 FY26.

Outlook and guidance

• FY27 capex is expected to exceed the initially revised budget; the FY27 budget shown is ₹7,500m, with new wiring harness capacity planned across FY27–FY29.

• Planned commissioning: Chennai and leased Pune wiring harness sites in Q3 FY27; Jhajjar in Q4 FY27 and Q2 FY28; Hosur in Q1 FY28.

• Priorities include capacity ahead of demand, higher EV and battery content, scaling CV/off-highway/farming, wider global reach and in-house and partner product development.