Railtel Corporation Of India (RAILTEL) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 revenue from operations was ₹1,14,614 lakh, up 28% QoQ; H1 revenue was ₹2,03,941 lakh, up 20% YoY.

• H1 new orders totaled ₹2,458 crore; the clarified order book was ₹12,248 crore, including ₹2,873 crore from Railway.

• H1 PAT was ₹13,434 lakh, down YoY; H1 PBT included ₹3,921 lakh of exceptional items.

Financial highlights

• Q2 PBT before exceptional items was ₹124 crore versus ₹96 crore in Q1, up 29% QoQ; reported PBT was ₹9,230 lakh and PAT ₹6,856 lakh.

• Q2 revenue was ₹1,14,614 lakh versus ₹95,136 lakh YoY; Q2 PAT was ₹6,856 lakh versus ₹7,607 lakh.

• H1 PBT was ₹18,174 lakh versus ₹19,461 lakh YoY; PBT before exceptional items and tax was ₹22,095 lakh versus ₹20,732 lakh.

• A ₹32 crore expected credit loss provision reduced Q2 PAT growth; management expects the full-year picture to be better.

Outlook and guidance

• Management remained hopeful of meeting the ₹3,500 crore FY27 project-order execution outlook; ₹1,282 crore had been converted into revenue by Q2, with execution typically accelerating in H2.

• Data-center revenue guidance was ₹300 crore for FY27 and ₹500 crore for the following year; management affirmed the FY27 target.

• Kavach financial progress is expected at ₹50–100 crore, potentially ~₹80 crore; FY28–FY29 are expected to be major years for installations and commissioning.