REMI Q2 FY27 profit rose 327% as total income gained 53%

Remi Edelstahl Tubulars Ltd, referred to as REMI, reported Q2 FY27 profit after tax of Rs 1.93 crore, up 327.31% from Q1 FY27, as total income rose 52.91% to Rs 54.09 crore. The sequential increase also lifted earnings before interest, tax, depreciation and amortisation to Rs 4.69 crore, up 129.22%.

How did REMI perform in Q2 FY27?

REMI’s Q2 FY27 total income increased to Rs 54.09 crore from Rs 35.37 crore in Q1 FY27, a sequential rise of 52.91%. Earnings before interest, tax, depreciation and amortisation, or EBITDA, rose faster than income, reaching Rs 4.69 crore from Rs 2.04 crore, an increase of 129.22%. The presentation reports these figures as quarterly financial performance, without separating volume, pricing or cost drivers behind the movement.

Profit before tax, or PBT, rose to Rs 2.54 crore in Q2 FY27 from Rs 61.15 lakh in Q1 FY27, an increase of 315.42%. Profit after tax, or PAT, advanced to Rs 1.93 crore from Rs 45.14 lakh, a 327.31% quarter-on-quarter increase. The percentage rise means Q2 PAT was more than four times the Q1 FY27 amount, although both quarters remain part of the same FY27 reporting period.

Cash PAT also increased sequentially, to Rs 3.46 crore in Q2 FY27 from Rs 1.28 crore in Q1 FY27. That was a 170.44% increase, lower than the percentage gains in PBT and PAT but still ahead of the 52.91% rise in total income. REMI’s reported Q2 data therefore show income, operating earnings, pre-tax profit, net profit and cash PAT all increasing from the immediately preceding quarter.

How does H1 FY27 compare with H1 FY26?

REMI’s H1 FY27 total income was Rs 89.46 crore, compared with Rs 60.94 crore in H1 FY26, representing year-on-year growth of 46.81%. The half-year result combines Q1 FY27 total income of Rs 35.37 crore with Q2 FY27 total income of Rs 54.09 crore. Q2 consequently contributed the larger share of H1 FY27 income following the sequential increase disclosed in the presentation.

H1 FY27 EBITDA increased 65.52% year on year to Rs 6.73 crore from Rs 4.07 crore in H1 FY26. PBT rose 87.55% to Rs 3.15 crore from Rs 1.68 crore, while PAT increased 91.63% to Rs 2.38 crore from Rs 1.24 crore. The faster growth rates for PBT and PAT than for total income are reported outcomes; REMI does not provide a line-item explanation for that difference on the supplied financial-performance page.

Cash PAT for H1 FY27 was Rs 4.81 crore, up 46.01% from Rs 3.29 crore in H1 FY26. This rate was close to the 46.81% growth in H1 total income, whereas reported PAT rose 91.63%. The comparison establishes that the earnings increase was not confined to the Q2-versus-Q1 comparison, because each of total income, EBITDA, PBT, PAT and cash PAT was higher in H1 FY27 than in H1 FY26.

What does REMI’s Rs 173 crore order book contain?

REMI reported an order book of Rs 173 crore, with thermal and nuclear power accounting for 57.2% of the total. Oil and gas represented 23.1%, water treatment and desalination 14.4%, and other industries 5.3%. The disclosed mix places power-related work as the largest order-book segment, ahead of oil and gas and water-treatment applications.

The Rs 173 crore order book is described by REMI as diversified across multiple industries and as providing revenue visibility. Its sector split also aligns with the company’s stated product uses: heat-exchanger, condenser and feedwater-heater tubes are used in conventional and nuclear steam cycles. The presentation does not state delivery dates, order-book conversion timing, customer names or the revenue expected in any individual quarter from these orders.

Water treatment is the second-largest non-power category at 14.4% of the order book, and REMI links the area to stainless steel’s corrosion resistance in continuous wastewater contact. The presentation cites seven sewage treatment plants under construction in Mumbai with combined capacity of about 2,464 million litres a day, alongside 185 million litres a day under construction and 20 plant upgrades in Bengaluru. These are market-context figures rather than REMI revenue forecasts.

How is REMI expanding its high-purity tube capability?

REMI says its technology partnership with WSG Co. Ltd. of South Korea has moved from trials to commercial execution, with machinery installation and trial orders completed. The company is executing multiple orders for high-purity tubes serving the pharmaceuticals industry. The supplied presentation does not disclose the value, volume, delivery schedule or customer identities for these multiple orders.

Under Phase 2, REMI says it is expanding its high-purity tube size range up to 6 inches, adding high-precision in-process equipment and upgrading polishing machinery. Management says these measures are intended to broaden the product portfolio, provide tighter tolerances and support ultra-high-purity and semiconductor applications. Phase 2 is a disclosed plan, not a reported financial contribution for Q2 FY27 or H1 FY27.

REMI also identifies data centres, pharmaceuticals and green hydrogen as demand areas beyond its traditional oil and gas and power base. The presentation cites India’s pharmaceutical market at about USD 60 billion in 2026, data-centre capacity of about 1.9 gigawatts with a 2030 range of 4.5 to 6.5 gigawatts, and a global green-hydrogen piping market growth rate of 9% to 9.2% through 2035. These figures describe external market opportunity rather than company guidance.

Conclusion

REMI’s reported Q2 FY27 numbers show a marked sequential acceleration: total income rose 52.91%, EBITDA increased 129.22%, and PAT climbed 327.31% from Q1 FY27. For H1 FY27, income was 46.81% higher and PAT was 91.63% higher than H1 FY26, while the Rs 173 crore order book was concentrated in thermal and nuclear power at 57.2%.

The next developments to watch are REMI’s execution of the disclosed Rs 173 crore order book and management’s Phase 2 high-purity expansion up to 6 inches. The presentation says Phase 2 will add precision equipment, polishing capability and value-added products, but it does not provide an implementation date, capital-spending figure or revenue target for the programme.