Annu Projects H1 income rises 5.7-fold, returns to profit

Annu Projects Limited reported total income of ₹36.91 crore for H1 FY27 ended September 30, 2026, 5.7 times the ₹6.51 crore recorded a year earlier, and reported ₹3.36 crore profit after a ₹10.33 crore loss. Revenue from operations was ₹35.65 crore, while EBITDA was ₹7 crore at a 19.64% margin.

How did Annu Projects perform in H1 FY27?

Annu Projects reported total income of ₹36.91 crore for H1 FY27, compared with ₹6.51 crore in H1 FY26. Profit or loss moved to a ₹3.36 crore profit from a ₹10.33 crore loss in the previous-year half, based on the company’s unaudited results released on November 13, 2026.

Revenue from operations was ₹35.65 crore in H1 FY27. Earnings before interest, tax, depreciation and amortisation, or EBITDA, were ₹7 crore, with a 19.64% margin; the company calculates EBITDA excluding other income. Its financial highlights separately showed profit after tax, or PAT, of ₹2.29 crore and a PAT margin of 6.42%.

Total expenses increased by ₹16.71 crore to ₹33.55 crore in H1 FY27, while total income rose by ₹30.40 crore. The larger increase in reported income coincided with the shift from a loss in H1 FY26 to a profit in H1 FY27.

What changed between Q1 and Q2 FY27?

Annu Projects reported lower total income and profit in Q2 FY27 than in Q1 FY27, although both quarters were profitable. Total income was ₹16.54 crore in Q2 FY27 against ₹20.37 crore in Q1 FY27, while profit was ₹1.11 crore against ₹2.24 crore.

Q2 FY27 revenue from operations was ₹15.74 crore, EBITDA was ₹2.94 crore and the EBITDA margin was 18.68%. PAT was ₹1.01 crore, with a 6.41% PAT margin, compared with the H1 FY27 EBITDA margin of 19.64% and PAT margin of 6.42%.

Against Q2 FY26, Q2 FY27 total income rose from ₹3.70 crore to ₹16.54 crore and profit replaced a ₹3.48 crore loss. Total expenses rose from ₹7.18 crore to ₹15.43 crore over the same comparison, while income increased by ₹12.84 crore.

What is in Annu Projects' order book?

Annu Projects had an order book of ₹1,018.39 crore across 30 ongoing projects as of September 30, 2026. The company put the aggregate contract value of these projects at ₹1,987.90 crore, a separate measure from the order-book amount.

Telecom infrastructure represented ₹827.19 crore, or 81.23%, of the order book. Sewerage infrastructure accounted for ₹149.22 crore, or 14.65%, followed by railway signalling at ₹25.38 crore and gas pipelines at ₹16.59 crore.

The number of ongoing projects rose to 30 on September 30 from 23 on June 30, 2026. During the quarter, gas-pipeline projects increased from four to seven, railway-signalling projects from one to four, and telecom projects from four to five.

Which operating developments could affect H2 FY27?

Annu Projects disclosed a memorandum of understanding with GEIE for material supply under JVVNL’s rooftop solar project, valued at ₹44.30 crore. The arrangement covers 8,000 rooftop solar systems in Dausa, Rajasthan, and is the company’s disclosed adjacent renewable-energy opportunity.

The company also secured a ₹12.81 crore Northeast Frontier Railway contract to deploy a four-by-48 fibre-optic cable backbone spanning 143 kilometres. Separately, it listed on BSE and NSE on September 2, 2026, through a fresh issue of up to 1.77 crore equity shares; proceeds were earmarked for machinery capital expenditure and working-capital requirements.

Chairman and Managing Director Sanjay Kumar Sarraf said Annu Projects has historically been weighted towards the second half, when more project execution and revenue realisation typically occur. Management expects momentum to strengthen in Q3 and be particularly strong in Q4 FY27, with projects progressing towards execution; this is a forward-looking management statement subject to the risks identified in the release.

Conclusion

Annu Projects’ H1 FY27 figures show a reported turnaround, with total income rising to ₹36.91 crore from ₹6.51 crore and profit of ₹3.36 crore following a ₹10.33 crore loss. The company also reported ₹35.65 crore of revenue from operations, ₹7 crore of EBITDA and a ₹1,018.39 crore order book concentrated in telecom infrastructure.

The next disclosed measure is execution in H2 FY27. Management expects Q3 momentum to strengthen and Q4 to be particularly active, while the 30 ongoing projects, deployment of listing proceeds for machinery and working capital, and progress on the ₹44.30 crore GEIE solar memorandum remain matters to watch.