Bonfiglioli Transmissions Limited Q2 profit rises 38% to ₹87 crore

Bonfiglioli Transmissions Limited reported Q2 FY27 net profit of ₹87.1 crore, up 38.1% year on year, while revenue rose 30.2% to ₹660 crore for the quarter ended September 30, 2026. Profit also increased 16.0% sequentially from ₹75.1 crore in the June quarter, alongside a modest quarter-on-quarter margin decline.

How did Bonfiglioli Transmissions perform in Q2 FY27?

Bonfiglioli Transmissions delivered higher revenue, operating profit and net profit in the September 2026 quarter compared with the preceding quarter. Sales increased 17.5% quarter on quarter to ₹660 crore from ₹562 crore. Operating profit rose 16.2% to ₹129 crore from ₹111 crore, while net profit increased to ₹87.1 crore from ₹75.1 crore.

The year-on-year figures cited in market updates also show a stronger quarter. Revenue was reported up 30.2% from ₹507 crore, net profit was up 38.1% from ₹63 crore, and EBITDA was reported at ₹128.3 crore, up 37.7% from ₹93.2 crore. The company approved the unaudited results for the quarter and nine months ended September 30, 2026, at its board meeting on November 12, 2026.

Why did Bonfiglioli Transmissions' margins fall sequentially?

Bonfiglioli Transmissions' operating profit margin fell by 22 basis points sequentially to 19.5% in Q2 FY27, despite the 17.5% rise in sales. Net profit margin similarly declined by 17 basis points to 13.2% from 13.4% in Q1 FY27.

The available results summary does not specify the individual cost items behind these margin movements. It does show that operating profit grew slightly slower than sales on a sequential basis, which is consistent with the narrow operating-margin change. On a year-on-year basis, market updates put EBITDA margin at 19.4%, compared with 18.4% a year earlier, indicating an improvement over the comparable prior-year quarter.

How much of Bonfiglioli Transmissions' profit came from core operations?

Bonfiglioli Transmissions' reported pre-tax profit of ₹117 crore was largely linked to its core business, which accounted for ₹113 crore, or 97% of the total. Other income contributed ₹3.8 crore, or about 3%, according to the results summary.

Other income declined 39.8% quarter on quarter from ₹6.4 crore in Q1 FY27 to ₹3.8 crore in Q2 FY27. This means the increase in quarterly profit occurred even as the contribution from other income reduced. The disclosed mix points to operating activity as the principal contributor to pre-tax profit for the period.

What should investors know about the comparison with last year?

Bonfiglioli Transmissions has restated comparative financial information for the quarter and nine months ended September 30, 2025 following a business combination under common control. The restatement relates to a Business Transfer Agreement with Bonfiglioli Drive Solutions Private Limited that became effective on December 15, 2025.

This accounting treatment is relevant when reading the reported year-on-year revenue and profit growth rates. The company stated that the results were prepared under Ind AS 34 on interim financial reporting. Its statutory auditor, S.R. Batliboi & Associates LLP, conducted a limited review and stated that nothing had come to its attention suggesting a material misstatement in the results statement.

What did the board approve and when did the IPO occur?

Bonfiglioli Transmissions' board approved the unaudited Q2 FY27 and nine-month FY27 financial results on November 12, 2026, following the Audit Committee's recommendation. The board meeting began at 4:00 p.m. and concluded at 4:27 p.m.

The company completed its initial public offering on October 23, 2026, involving the sale of 43,239,042 equity shares. The approved results and the limited review report were made available through the company's investor-relations website and the stock exchange platforms. The filing confirms the formal approval process for the reported financial statements.

Conclusion

Bonfiglioli Transmissions recorded a higher Q2 FY27 profit and revenue, with net profit reaching ₹87.1 crore and sales reaching ₹660 crore. Sequential margins were marginally lower, but the disclosed profit mix shows that core operations accounted for 97% of pre-tax profit, while lower other income made a limited contribution.

Investors will watch whether sales growth can continue while operating margin holds near the reported 19.5% level. They will also need to consider the restated prior-year comparatives arising from the business transfer agreement when assessing future year-on-year performance and the company's nine-month FY27 results.