Arisinfra Solutions Limited Q2 PAT rises 50% as margin reaches 11.6%

Arisinfra Solutions Limited reported Q2 FY27 consolidated profit after tax of Rs 22.8 crore, up 50% from Q2 FY26, while earnings before interest, tax, depreciation and amortisation margin increased 220 basis points to 11.6% on revenue of Rs 307.7 crore. The company described the quarter as its highest quarterly PAT and EBITDA-margin period.

How did Arisinfra perform in Q2 FY27?

Arisinfra delivered revenue of Rs 307.7 crore, EBITDA of Rs 35.6 crore and profit after tax, or PAT, of Rs 22.8 crore in Q2 FY27. Revenue grew 28% from Rs 241.2 crore in Q2 FY26, EBITDA rose 58% year on year, and PAT increased from Rs 15.3 crore in the comparable quarter.

EBITDA margin was 11.6% in Q2 FY27, compared with 9.3% in Q2 FY26. The 220-basis-point increase equals 2.2 percentage points, while PAT attributable to shareholders was Rs 20.8 crore and earnings per share were Rs 2.51 in the quarter.

Arisinfra reported that contract manufacturing and Developer as a Service, or DaaS, accounted for 66% of Q2 FY27 revenue, against 53% a year earlier. The presentation reports the 13-percentage-point change alongside the higher EBITDA margin but does not quantify the individual contribution of either activity to margin expansion.

What changed in Arisinfra's capacity, order book and debt?

Arisinfra increased reserved capacity to 11.7 million tonnes at September 30, 2026, from more than 9 million tonnes at June 30. The company said the capacity was provided through 23 partner plants without plant capital expenditure.

DaaS gross development value, which Arisinfra identifies as its live order book, exceeded Rs 2,750 crore in the October 27 release, compared with Rs 1,839 crore at June 30. The presentation also listed 15 DaaS projects, each described as a captive buyer of Arisinfra materials.

Arisinfra reported net debt of Rs 74 crore at September 30, 2026, or 0.10 times equity. This was within the Rs 75 crore to Rs 80 crore range outlined in its Q1 FY27 outlook, while net working capital stood at 54 days, down 36% from September 30, 2025.

How did Arisinfra's H1 FY27 results compare with last year?

Arisinfra reported H1 FY27 revenue of Rs 598.5 crore, up 32% from Rs 453.3 crore in H1 FY26, and PAT of Rs 42.9 crore, up 110% from Rs 20.4 crore. H1 FY27 refers to the six months ended September 30, 2026, and the financial figures are consolidated and unaudited.

H1 FY27 EBITDA margin was 11.1%, compared with 9.0% in H1 FY26, an expansion of 210 basis points. Contract manufacturing and DaaS represented 64% of first-half revenue, up 13 percentage points from 51% in the previous first half.

Arisinfra generated operating cash flow of Rs 60.1 crore in H1 FY27, equal to 1.4 times first-half PAT of Rs 42.9 crore. EBITDA excludes other income, while PAT includes non-controlling interests, according to the presentation.

What did Arisinfra disclose about segment performance?

Arisinfra reported that contract manufacturing generated Rs 329.2 crore of H1 FY27 revenue, or 55.0% of the Rs 598.5 crore total, and Rs 34.6 crore of segment EBITDA. The segment's revenue increased 72% in H1 FY27, according to the presentation.

DaaS contributed Rs 55.2 crore of revenue, or 9.2% of the total, and Rs 32.9 crore of segment EBITDA in H1 FY27. Materials business-to-business supply generated Rs 214.2 crore of revenue, representing 35.8% of revenue, with Rs 7.2 crore of segment EBITDA.

The company reported total segment EBITDA of Rs 74.7 crore before Rs 8.5 crore of non-cash Indian Accounting Standards adjustments, compared with reported EBITDA of Rs 66.2 crore and a reported margin of 11.1%. Arisinfra reports a single segment under Indian Accounting Standard 108, while the segmental breakdown is provided by management.

What is Arisinfra's FY27 PAT guidance?

Arisinfra management guided for consolidated FY27 PAT of about Rs 100 crore, compared with Rs 60 crore in FY26, implying growth of 66%. The guidance comprises Rs 42.9 crore delivered in H1 FY27 and about Rs 57 crore expected in H2 FY27.

Management said 43% of the full-year PAT target had been delivered in the lighter first half, compared with 34% of FY26 PAT recorded in H1 FY26. H2 FY26 PAT was Rs 39.9 crore, derived from FY26 PAT of Rs 60 crore less H1 FY26 PAT of Rs 20.4 crore.

Arisinfra had stated a Q1 FY27 revenue-growth outlook of 35% to 40% for the first half, while H1 FY27 revenue ultimately rose 32%. The presentation does not disclose H2 FY27 revenue, EBITDA-margin or operating-cash-flow guidance.

Conclusion

Arisinfra's first-half figures show PAT rising faster than revenue, alongside a 210-basis-point increase in EBITDA margin and a 13-percentage-point increase in the combined revenue share of contract manufacturing and DaaS. Operating cash flow of Rs 60.1 crore also exceeded H1 PAT of Rs 42.9 crore.

The principal disclosed measure to watch is management's guidance for about Rs 57 crore of PAT in H2 FY27, which would take FY27 PAT to about Rs 100 crore. Capacity stood at 11.7 million tonnes at September 30 and the DaaS order book exceeded Rs 2,750 crore in the October 27 release, but the presentation does not provide a second-half revenue or margin target.