Thejo Engineering Q2 FY27 Revenue Rises 29.54% to ₹198 Crore

Thejo Engineering Limited reported consolidated revenue of ₹198.34 crore for Q2 FY27, up 29.54% year-on-year from ₹153.11 crore, while consolidated net profit rose 26.72% to ₹17.88 crore for the quarter ended September 30, 2026. The result matters because it shows growth across revenue, operating profit and profit after tax during the July-September period.

What did Thejo Engineering report for Q2 FY27?

Thejo Engineering reported higher consolidated revenue and profit for Q2 FY27, with every headline metric in the supplied results data showing year-on-year growth. Consolidated operating profit rose 44.4% to ₹30.41 crore from ₹21.06 crore a year earlier. Net profit was reported at ₹17.88 crore, compared with ₹14.11 crore in Q2 FY26.

The company filed its results for the quarter and half year ended September 30, 2026, with the NSE on November 11, 2026. Its board meeting to consider the July-September results had been scheduled for the same day, according to a filing dated October 30.

The supplied quarterly comparison also places September-quarter sales at ₹198 crore, versus ₹178 crore in June 2026 and ₹153 crore in September 2025. This represents sequential sales growth of 11.7% and year-on-year growth of 29.5% on the rounded figures.

How did margins and operations change during the quarter?

Thejo Engineering's operating margin was reported at 15.3% in Q2 FY27, compared with 13.8% in Q2 FY26 and 14.2% in Q1 FY27. The year-on-year expansion was 158 basis points, while the sequential increase was 110 basis points.

Operating profit growth outpaced revenue growth in the consolidated figures. Operating profit increased to ₹30.41 crore from ₹21.06 crore, while revenue increased by ₹45.23 crore from the year-ago quarter. The disclosed data therefore indicates improved operating profitability during the period.

Other income was ₹1.2 crore in Q2 FY27, lower than ₹2.5 crore in Q1 FY27 and ₹2.2 crore in Q2 FY26. The lower other income did not prevent the company from reporting higher operating profit and net profit in the quarter.

Standalone figures separately disclosed revenue from operations of ₹167.14 crore for Q2 FY27, against ₹126.28 crore in Q2 FY26. Standalone EBITDA was reported at ₹34.05 crore, implying an EBITDA margin of about 20.36% based on revenue from operations. These standalone numbers should not be directly compared with the consolidated revenue and profit figures because the reporting scopes differ.

What does the first-half performance show?

Thejo Engineering reported consolidated revenue from operations of ₹375.95 crore in H1 FY27, up 30.2% year-on-year, according to the supplied filing summary. Consolidated profit after tax for the six months rose 38.8% to ₹33.12 crore, while basic earnings per share reached ₹32.31.

First-half consolidated EBITDA was reported at ₹59.39 crore, with an EBITDA margin of 15.64%. The margin expanded by 133 basis points from the comparable year-earlier period. The H1 data is consistent with the stronger quarterly operating margin reported for September.

The reported order book stood at ₹347 crore in the filing summary. An order book is relevant for an industrial manufacturing company because it represents work that has been contracted or awarded but is yet to be executed and recognised as revenue, subject to project execution and customer schedules.

How did the results affect investors and the company context?

Thejo Engineering's shares were reported to have risen about 6.1% after the results announcement. The market reaction followed the reported revenue growth, operating-margin expansion and increase in profit for the September quarter.

The company was described in the supplied data as an industrial manufacturing business with a market capitalisation of about ₹2,124 crore to ₹2,251 crore. Such valuations can change with daily share-price movements, so these figures reflect the context provided with the Q2 results rather than a current market value.

For investors, the principal reported indicators are the pace of sales growth, operating-margin movement, profitability and the ₹347 crore order book. For customers and operating partners, the reported growth in revenue and order book points to an active execution pipeline, although the supplied material does not provide project-wise details or future revenue guidance.

The company's most recent stated dividend declaration was ₹5 per equity share for FY26, matching the payout for the preceding fiscal year. This relates to the prior financial year and is separate from the Q2 FY27 earnings announcement.

Conclusion

Thejo Engineering delivered a stronger Q2 FY27 on the consolidated figures provided, with revenue rising 29.54% to ₹198.34 crore, operating profit rising 44.4% to ₹30.41 crore and net profit increasing 26.72% to ₹17.88 crore. The 15.3% operating margin, higher than both the previous quarter and the year-ago period, was an important feature of the result.

The next items to watch are the execution of the reported ₹347 crore order book, the progression of operating margins after the H1 FY27 margin expansion, and subsequent disclosures on revenue, profits and capital allocation. The supplied material does not disclose a forward revenue target or a scheduled next results date.