Strong all-round performance with record profitability and robust execution.
๐น Financial Highlights
โขRevenue: โน60.9 bn (+18% YoY)
โขEBITDA: โน9.6 bn (+62% YoY); Margin: 15.8% (+430 bps YoY)
โขPAT: โน7.0 bn (+56% YoY); Margin: 10.7% (+260 bps YoY)
โขNet Cash: โน29.4 bn | WC Cycle: 33 days (to normalize to 50โ55)
๐น Segmental Snapshot
Wires & Cables: +21% YoY; strong domestic & export growth; premium mix, pricing power intact.
FMEG: Third straight profitable quarter; solar & lighting strong; fans soft; FY30 margin target 8โ10%.
EPC: โน4.0 bn revenue (โ19% YoY); one-off lifted margin to 18.1%; normalized ~10%; strong H2 visibility with RDSS & BharatNet.
๐น Strategic Highlights
โขProject Spring: Ahead of FY30 targets โ faster W&C and export growth.
โขCapex: โน7.5 bn in H1; FY guidance โน12โ16 bn.
โขDividend payout: 26.3% (target >30% by FY30).
โขUtilization: Mid-70s; EHV project on track (revenue from FY28).
๐น Outlook & Other Updates
โขMacro tailwinds from govt & private capex; festive demand strong.
โขUS tariffs a short-term risk (20% of exports).
โขCIT(A) cleared all tax demands (AY14โ24).
โขCFO transition: Niyant Maru appointed interim CFO.
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