Elin Electronics (ELIN) Q2 26/27 earnings summary

Executive summary

• Consolidated Q2 revenue from operations was ₹4,033.11 million vs ₹3,663.96 million YoY, up ~10%; EBITDA fell to ₹141 million from ₹204 million amid input-cost pressure.

• FY27 revenue guidance is ₹1,400 crore ±3%, with profitability prioritized; EBITDA guidance remains uncertain amid volatile costs.

• H1 recorded a consolidated net loss of ₹214.14 million, including a ₹246.55 million fire-related loss recognized in Q1; no insurance recovery was recorded pending assessment.

Financial highlights

• Consolidated Q2 revenue from operations was ₹4,033.11 million vs ₹3,663.96 million YoY; H1 revenue was ₹7,581.13 million vs ₹6,551.58 million.

• Q2 EBITDA was ₹141 million vs ₹204 million YoY; H1 EBITDA was ₹181 million vs ₹379 million.

• Consolidated Q2 net profit was ₹28.50 million vs ₹102.99 million YoY; Q2 EPS was ₹0.58 vs ₹2.11.

• H1 consolidated net loss was ₹214.14 million vs net profit of ₹196.91 million in H1 FY26; H1 EPS was negative ₹3.81 vs ₹4.04.

• Q2 profit before exceptional items and tax was ₹38.10 million; H1 was ₹0.49 million vs ₹265.33 million in H1 FY26.

Outlook and guidance

• FY27 revenue guidance is ₹1,400 crore ±3%; a 10–15% growth target over FY26 was also stated, primarily led by Home Appliances and Fans.

• FY27 EBITDA margin was expected at 3%–3.5%; Q3 margin was indicated above 2.5%, likely near Q2 with a 0.5% variation either side.

• Management did not commit to an EBITDA forecast, citing raw-material and geopolitical volatility.

• Diwali-related sales were expected to spill into Q3; Bhiwadi FY28 revenue visibility was ₹150 crore, based on non-binding customer plans, with 6%–6.5% EBITDA margin guidance.

• Bhiwadi revenue was estimated at ₹45–50 crore in the balance of FY27; longer-term potential of ₹500–550 crore in ~4 years was targeted without current revenue assurance.