Lohia Corp Limited H1FY27 PAT rises 107.7% as income grows

In H1FY27, LohiaCorp’s profit after tax rose 107.7% year on year to Rs 144 crore as total income increased 50.2% to Rs 1,109.9 crore, while earnings before interest, tax, depreciation and amortisation margin expanded to 19.7% from 16.8% in H1FY26.

How did LohiaCorp perform in H1FY27?

LohiaCorp reported a 49.6% year-on-year increase in revenue from operations to Rs 1,097.4 crore in H1FY27, while total income, which includes other operating and non-operating income, rose 50.2% to Rs 1,109.9 crore. EBITDA increased 75.5% to Rs 215.6 crore from Rs 122.9 crore in H1FY26. The faster increase in EBITDA than revenue lifted the reported EBITDA margin by 291 basis points to 19.7% from 16.8%.

PAT reached Rs 144 crore in H1FY27, compared with Rs 69.3 crore in H1FY26, and the reported PAT margin moved to 13% from 9%. Profit after tax therefore increased more than twice as fast as revenue from operations. The presentation says PAT margin followed the quarterly trend and expanded sharply in the half year, but it does not provide a separate breakdown of tax or finance-cost movements.

What changed in LohiaCorp's Q2FY27 margins?

LohiaCorp’s Q2FY27 EBITDA margin was 19.4%, down 128 basis points year on year and 49 basis points sequentially, even as Q2 total income rose 43.0% year on year to Rs 600.3 crore. Q2 EBITDA increased 33.3% year on year to Rs 115.5 crore and 15.3% quarter on quarter. Revenue from operations was Rs 594.3 crore, up 42.0% from Q2FY26 and 18.2% from Q1FY27.

LohiaCorp said material margin moderated during the quarter because higher commodity prices, driven by macroeconomic factors, created input pressure. It said operating leverage limited the relative increase in employee costs and other expenses as sales expanded. PAT was Rs 77.7 crore in Q2FY27, up 48.2% year on year and 17.3% quarter on quarter, while the reported PAT margin was 13%, compared with 12% in Q2FY26 and 13% in Q1FY27.

Which LohiaCorp revenue streams drove H1FY27 growth?

LohiaCorp’s machinery revenue drove the H1FY27 increase, rising 53% year on year to Rs 881.8 crore from Rs 575.5 crore and accounting for about 80% of revenue. In Q2FY27 alone, machine sales reached Rs 480.8 crore, up 44% year on year from Rs 334.8 crore and up from Rs 401 crore in Q1FY27. The presentation cites sustained momentum across machinery, aftermarket and other revenue.

Aftermarket revenue rose 13% year on year in H1FY27 to Rs 101 crore from Rs 89.3 crore, which LohiaCorp describes as a recurring revenue stream. Other revenue increased to Rs 114.6 crore from Rs 69 crore. In Q2FY27, aftermarket revenue was Rs 54 crore, up 16% year on year, while other revenue was Rs 59.6 crore, compared with Rs 37 crore a year earlier. The three operating categories totalled Rs 1,097.4 crore in H1FY27.

The regional mix shifted toward India during the half year. Domestic sales represented 61% of H1FY27 revenue, compared with 52% in H1FY26, while the overseas share fell to 39% from 48%. In Q2FY27, overseas revenue was Rs 218.5 crore, up 2% year on year and 6% sequentially, but its share declined to 37% from 51% in Q2FY26 because domestic sales grew about 83% year on year, according to the presentation.

What do LohiaCorp's order book and balance sheet show?

LohiaCorp’s order book stood at Rs 1,993.6 crore at Q2FY27, up 93% year on year from Rs 1,030.7 crore and 12% from Rs 1,778.2 crore at Q1FY27. The presentation says the export order book was also at an all-time high. It does not provide an execution timetable or a segment-wise split of the order book.

LohiaCorp reported net debt to equity of negative 0.18 times as of 30 September 2026, using net debt defined as total debt less cash and cash equivalents and current investments. It also reported return on capital employed of 51.3% and return on equity of 42.8%; both return measures are based on annualised profits. The presentation provides these measures alongside the H1FY27 results without comparative prior-period figures.

LohiaCorp also disclosed business developments that may broaden its markets. It supplied a Reclamax 120, a 500-kilogram-per-hour recycling machine, to an Indian customer in August 2026, executed a 1,000-millimetre specialised stretching line for a defence-sector application, and secured its first order from South Korea. The presentation gives no order values or expected revenue-recognition dates for these developments.

Conclusion

LohiaCorp’s H1FY27 result combined 49.6% growth in revenue from operations with 75.5% EBITDA growth and a 107.7% increase in PAT. Machinery was the principal growth engine at Rs 881.8 crore, while the EBITDA-margin increase to 19.7% reflected the reported effect of operating leverage despite commodity-related pressure on material margin during Q2FY27.

The next disclosed factors to watch are conversion of the Rs 1,993.6 crore order book and the course of material-margin pressure from higher commodity prices. LohiaCorp also reported an all-time-high export order book and its first South Korean order, but the presentation does not disclose execution timing or their financial contribution.