L.G. Balakrishnan & Bros first-half profit reaches Rs 160.96 crore

L.G. Balakrishnan & Bros Limited recorded consolidated profit after tax of Rs 160.96 crore for the half-year ended 30 September 2026, nearly unchanged from Rs 160.62 crore a year earlier, as revenue from operations rose to Rs 1,747.09 crore from Rs 1,444.07 crore. Total income reached Rs 1,780.68 crore.

How did L.G. Balakrishnan & Bros' first-half earnings change?

L.G. Balakrishnan & Bros' consolidated revenue from operations increased by Rs 303.02 crore year on year to Rs 1,747.09 crore in the half-year ended 30 September 2026. Total income, which includes other income, rose to Rs 1,780.68 crore from Rs 1,473.73 crore, while total expenses increased to Rs 1,573.46 crore from Rs 1,271.16 crore.

Profit before tax increased to Rs 214.11 crore from Rs 211.51 crore in the corresponding half-year of 2025. The tax charge was Rs 53.36 crore, compared with Rs 53.04 crore, leaving profit after tax at Rs 160.96 crore against Rs 160.62 crore. Other comprehensive income was a loss of Rs 1.48 crore, compared with a loss of Rs 7.74 crore.

L.G. Balakrishnan & Bros reported September-quarter revenue from operations of Rs 948.32 crore, compared with Rs 798.76 crore in the June 2026 quarter and Rs 787.02 crore in the September 2025 quarter. September-quarter profit after tax was Rs 93.94 crore, up from Rs 67.01 crore in June and Rs 93.66 crore a year earlier. Half-year earnings per share were Rs 50.48, compared with Rs 50.35.

Which L.G. Balakrishnan & Bros segments drove revenue growth?

L.G. Balakrishnan & Bros' Transmission segment generated Rs 1,277.71 crore of revenue in the half-year ended 30 September 2026, up from Rs 1,081.55 crore a year earlier. Metal Forming revenue increased to Rs 469.37 crore from Rs 362.51 crore. The company reported no inter-segment revenue, so the two segments added to consolidated revenue from operations of Rs 1,747.09 crore.

Transmission's profit before tax and interest increased to Rs 185.76 crore from Rs 170.57 crore. Metal Forming's profit before tax and interest fell to Rs 41.10 crore from Rs 47.27 crore despite its higher revenue. Combined segment profit therefore rose to Rs 226.86 crore from Rs 217.84 crore, before interest and unallocable items.

Transmission accounted for Rs 196.16 crore of the Rs 303.02 crore increase in group revenue, while Metal Forming supplied Rs 106.86 crore. L.G. Balakrishnan & Bros also reported finance costs of Rs 10.30 crore for the half-year, compared with Rs 6.60 crore, and depreciation and amortisation of Rs 68.51 crore, compared with Rs 54.13 crore.

How did L.G. Balakrishnan & Bros' financial position change?

L.G. Balakrishnan & Bros' consolidated total assets were Rs 3,312.60 crore at 30 September 2026, compared with Rs 2,994.87 crore at 31 March 2026. Property, plant and equipment rose to Rs 1,057.84 crore from Rs 992.83 crore, inventories increased to Rs 607.27 crore from Rs 514.32 crore, and trade receivables reached Rs 464.00 crore from Rs 404.80 crore.

Total equity increased to Rs 2,275.16 crore at 30 September from Rs 2,156.24 crore at 31 March. Equity attributable to L.G. Balakrishnan & Bros' owners was Rs 2,272.67 crore, compared with Rs 2,153.70 crore, while non-controlling interest was Rs 2.49 crore, compared with Rs 2.53 crore.

Consolidated liabilities rose to Rs 1,039.94 crore from Rs 841.16 crore over the six months. Current liabilities were Rs 903.90 crore at 30 September, compared with Rs 719.75 crore at 31 March, including trade payables of Rs 460.24 crore and current borrowings of Rs 170.02 crore. Non-current liabilities were Rs 133.54 crore, compared with Rs 118.88 crore.

What do L.G. Balakrishnan & Bros' cash flows show?

L.G. Balakrishnan & Bros generated consolidated net cash from operating activities of Rs 172.63 crore in the half-year ended 30 September 2026. The cash-flow statement shows profit before tax of Rs 214.11 crore, cash generated from operations of Rs 224.13 crore and income tax paid, net of refunds, of Rs 51.50 crore.

Investing activities used Rs 106.93 crore, including capital expenditure and capital advances of Rs 135.01 crore. Financing activities used Rs 39.11 crore, including dividend payments of Rs 9.49 crore, lease payments of Rs 7.02 crore and net borrowings outflow of Rs 2.60 crore.

The combined cash movements produced a net increase in cash and cash equivalents of Rs 26.58 crore. Consolidated cash and cash equivalents therefore stood at Rs 48.06 crore at 30 September 2026, compared with Rs 21.48 crore at the beginning of the financial year.

What is the status of L.G. Balakrishnan & Bros' SLGB Energy Solutions investment?

L.G. Balakrishnan & Bros said its contribution towards the share capital of SLGB Energy Solutions Private Limited was pending allotment at 30 September 2026. The company therefore did not include the entity's financial information in consolidated results for the September 2026 quarter or the half-year ended 30 September 2026.

A separate disclosure stated that L.G. Balakrishnan & Bros made an aggregate investment of Rs 9.7869 crore for 978,690 equity shares on a rights basis to support the commencement of commercial operations. The disclosure describes SLGB Energy Solutions as a subsidiary in which L.G. Balakrishnan & Bros holds 51%, while the results note refers to it as a joint venture.

SLGB Energy Solutions was incorporated on 9 September 2026 for precision manufacturing, machining, assembly, testing and quality assurance of subsea components, modules, connectors, tools and related equipment. The entity had not commenced commercial operations and had no applicable turnover or net worth disclosed at the time of the filing.

Conclusion

L.G. Balakrishnan & Bros increased first-half consolidated revenue by Rs 303.02 crore, with both Transmission and Metal Forming reporting higher sales. Profit after tax changed by Rs 0.34 crore year on year to Rs 160.96 crore, while higher expenses, finance costs and depreciation accompanied the revenue expansion.

The next disclosed matter is the allotment of shares in SLGB Energy Solutions and the planned commencement of its commercial operations. Until allotment occurs, L.G. Balakrishnan & Bros has said the entity's financial information will remain outside its consolidated results.