R R Kabel (RRKABEL) Q2 26/27 earnings summary

Executive summary

• Record H1 FY27 revenue, Operating EBITDA and PAT grew 53%, 79% and 87% YoY, respectively.

• Wires & Cables drove growth; FMEG revenue increased while its H1 loss margin narrowed to 2.2%.

Financial highlights

• Q2 FY27 revenue was ₹32,840m, up 52% YoY; H1 FY27 revenue was ₹64,522m, up 53%.

• Q2 FY27 EBITDA was ₹2,862m, up 63% YoY; H1 FY27 EBITDA was ₹5,714m, up 79%.

• Q2 FY27 PAT was ₹1,806m, up 55% YoY; H1 FY27 PAT was ₹3,858m, up 87%.

• Q2 FY27 EBIT was ₹2,748m, up 61% YoY; H1 FY27 EBIT was ₹5,633m, up 84%.

• Consolidated PBT was ₹2,422m in Q2 and ₹5,182m in H1, including ₹26m and ₹47m share of JV profit, respectively.

Outlook and guidance

• FY27 Wires & Cables volume growth guidance was refined to ~14%-15% from 16%-18%; management remained confident in H2 growth despite a higher base.

• Wires & Cables EBIT margin guidance remained 9.5% for FY27 and ~10.5% for FY28; H1 segment margin was 9.6%.

• FMEG targets FY27 operating breakeven, supported by revenue growth and cost efficiencies; H2 revenue and profitability are expected to improve seasonally.

• Export share is expected to be 30%-35% in H2, with domestic and export markets both remaining growth priorities.

• Roorkee operations will shift gradually to a new location to improve efficiency and increase capacity.