Marine Electricals Q2 FY27 Revenue Rises 82% to ₹404.65 Crore

Marine Electricals (India) Limited reported consolidated revenue of ₹404.65 crore for Q2 FY27, up 82.07% year-on-year from ₹222.25 crore, while net profit increased 93.08% to ₹32.09 crore for the quarter ended 30 September 2026. The board approved the unaudited results on 4 November 2026.

What did Marine Electricals report in Q2 FY27?

Marine Electricals reported sharp year-on-year growth in its consolidated revenue, operating profit and net profit for the July to September 2026 quarter. Revenue rose by ₹182.40 crore from the corresponding quarter of FY26, while profit after tax increased by ₹15.47 crore.

Operating profit stood at ₹49.53 crore, compared with ₹25.89 crore in Q2 FY26, representing growth of 91.31%. The increase in operating profit broadly tracked the rise in net profit, which almost doubled over the year-ago quarter. The reported figures are on a consolidated basis and cover the quarter ended 30 September 2026.

When were the September-quarter results approved?

Marine Electricals approved its standalone and consolidated unaudited financial results for Q2 and the first half of FY27 at its board meeting held on 4 November 2026. The results cover the period ended 30 September 2026.

Before the outcome, the company had informed the exchange that its board would consider the unaudited quarterly and half-yearly results. The trading window had been closed from 30 September 2026 until publication of the results. The company had also made a regulatory filing relating to its annual general meeting held on 30 September 2026, including the scrutiniser's report and voting results.

The board-meeting disclosures identify quarterly results as the principal purpose of the meeting. The reported Q2 performance follows the company's Q1 FY27 consolidated revenue of ₹259 crore and consolidated profit after tax of ₹18 crore, as stated in its investor presentation.

What other decision did the board take with the Q2 results?

Marine Electricals also approved the conversion of loans or current capital of up to ₹17 crore extended to MEL Heavy Industries Private Limited into equity. The conversion may be completed in one or more tranches.

This decision concerns a subsidiary of Marine Electricals and was disclosed alongside the financial-results outcome. The source does not specify the timing of individual conversion tranches, the equity stake that would result, or any valuation details. Investors will therefore need to rely on subsequent company disclosures for those particulars.

The decision is separate from the operating figures reported for the September quarter. It nevertheless forms part of the board's capital-related actions at the same meeting, together with approval of the unaudited standalone and consolidated results.

How does Q2 FY27 compare with Marine Electricals' recent performance?

Marine Electricals' Q2 FY27 consolidated revenue of ₹404.65 crore was higher than the ₹259 crore consolidated revenue reported for Q1 FY27. The source had described Q1 revenue growth at 55% year-on-year, with EBITDA of ₹33 crore and profit after tax of ₹18 crore.

On a standalone basis, the company had reported Q1 FY27 revenue from operations of ₹234.13 crore, against ₹147.08 crore in Q1 FY26. Standalone net profit for that quarter was ₹16.73 crore, compared with ₹10.89 crore a year earlier. These standalone figures should not be directly compared with the consolidated Q2 figures because they cover different reporting bases.

For FY26, Marine Electricals reported return on capital employed of 18.40%. This is a full-year metric rather than a quarterly performance measure, but it provides context for the company's reported operating and capital performance before the September-quarter results.

What does the Q2 result mean for investors and operations?

The September-quarter result shows that revenue, operating profit and net profit all grew by more than 80% year-on-year on a consolidated basis. Operating profit growth of 91.31% and net profit growth of 93.08% were faster than revenue growth of 82.07%, based on the figures disclosed by Marine Electricals.

For investors, the key reported data points are the ₹404.65 crore consolidated revenue, ₹49.53 crore operating profit and ₹32.09 crore net profit. The company has not provided a share-price movement, order-book value, segment-wise Q2 revenue, or earnings outlook in the supplied disclosures, so those factors cannot be assessed from the available information.

Marine Electricals had previously said that its Q1 FY27 growth was supported by its presence in data centres and industrial infrastructure, while also reporting a record order book. However, the supplied Q2 result information does not quantify the order book or identify segment-level contributions to September-quarter revenue. The reported numbers establish the quarter's financial growth but do not provide enough detail to attribute it to individual businesses.

Conclusion

Marine Electricals delivered consolidated Q2 FY27 revenue growth of 82.07% and net profit growth of 93.08%, with revenue reaching ₹404.65 crore and profit after tax reaching ₹32.09 crore. The 4 November board meeting also approved a potential conversion of up to ₹17 crore of subsidiary funding into equity.

The next disclosures to watch are any details on the tranches and terms of the MEL Heavy Industries equity conversion, as well as future updates on order-book levels, segment performance and financial results. The source does not disclose a further financial target or scheduled results date beyond the September-quarter approval.