Uniparts India Reports ₹378.5 Crore Q2 FY27 Revenue Growth

Uniparts India Limited reported Q2 FY27 revenue from operations of ₹378.5 crore, up 36.7% year-on-year and 9.0% quarter-on-quarter, while net profit increased 38.1% year-on-year to ₹54.4 crore. The September-quarter performance was supported by construction demand, India aftermarket growth and the ramp-up of previously awarded business.

What did Uniparts India report in Q2 FY27?

Uniparts India reported record revenue from operations of ₹378.5 crore for the quarter ended September 30, 2026. Revenue was ₹347.4 crore in the preceding quarter, translating into an 8.96% sequential increase. The company’s investor presentation also reported revenue of ₹3,785 million, which is equivalent to ₹378.5 crore.

Consolidated net profit stood at ₹54.4 crore, compared with ₹39.4 crore in the corresponding quarter of the previous year. This represented a 38.1% to 38.2% year-on-year increase, depending on rounding. EBITDA was ₹88.6 crore, up 38.6% year-on-year, while the reported EBITDA margin was between 23.1% and 23.4% in the company materials and earnings-call summary.

Uniparts India released its Q2 and first-half FY27 results on November 4, 2026. It held an earnings call with investors and analysts on November 5, and subsequently made the call’s audio recording available through its exchange disclosure under SEBI’s Listing Obligations and Disclosure Requirements regulations.

What drove Uniparts India’s revenue growth?

Construction equipment demand, India aftermarket sales and conversion of earlier business awards drove Uniparts India’s quarterly growth. Management said construction sales grew 49% year-on-year, with North American demand supported by investment in data centres, AI-related infrastructure and manufacturing, while European activity was helped by infrastructure and energy-transition projects.

The India aftermarket became a larger part of quarterly revenue. It represented 16.5% of Q2 FY27 revenue, compared with 12.4% in Q1 FY27 and 14.7% in Q2 FY26. Management said the company’s India aftermarket business rose by more than 50% year-on-year in absolute terms, against estimated industry growth of about 4% to 6%.

The company also pointed to new-business awards secured over the preceding seven quarters. These awards have annualised revenue potential exceeding ₹225 crore and are concentrated in construction and large agriculture. Management said the awarded programmes were ramping up as planned, contributing to revenue growth alongside its existing customer relationships.

How did profitability and cash position change?

Uniparts India’s profitability improved broadly in line with revenue, with Q2 FY27 EBITDA of ₹88.6 crore and net profit of ₹54.4 crore. The EBITDA margin of 23.1% to 23.4% remained above management’s stated through-cycle objective of at least 20%.

Material cost was 34.3% of revenue during the quarter. Management said material cost generally ranges from 34% to 37% of revenue and that customer contracts provide for raw-material cost pass-through, although such adjustments occur with a lag. It did not provide a specific EBITDA margin outlook for the full financial year.

The company reported net cash of ₹172 crore after dividend payments. It expects capital expenditure of around ₹50 crore during FY27. These figures indicate that the company is funding planned investment while retaining a net-cash position, though investors will also track working-capital trends, particularly receivables referenced in the earnings-call summary.

What guidance did Uniparts India provide for FY27?

Uniparts India guided for FY27 revenue growth of 24% over FY26 and reiterated its expectation of maintaining margins comfortably above 20% through the cycle. The outlook reflects management’s confidence in construction demand and the planned ramp-up of awarded programmes, while recognising differing conditions across end-markets.

Management described Q3 as its seasonally weakest quarter and said it expects Q3 FY27 revenue to be broadly in line with Q1 FY27. It expects absolute revenue in the second half to increase, although year-on-year growth rates could moderate because the comparable second half of FY26 had a stronger base.

Large agriculture remains an area of weaker demand, while discretionary aftermarket purchases can vary with market conditions. Management did not offer specific EBITDA guidance despite analyst questions, instead restating its through-cycle profitability framework. That leaves quarterly margin movement dependent on product mix, raw-material costs and the pace of demand across construction, agriculture and aftermarket operations.

How does the Q2 performance affect investors and operations?

Uniparts India’s Q2 performance shows that its revenue base is being supported by more than one operating segment. Construction was the strongest disclosed growth driver, while the rising India aftermarket contribution added another source of demand. The ₹225 crore-plus annualised potential of recent awards is relevant because management said these programmes are now being converted into revenue.

For investors, the reported 36.7% revenue growth and 38.1% net-profit growth provide the basis for assessing the company’s 24% full-year revenue guidance. The company’s net cash of ₹172 crore and planned ₹50 crore capex are also relevant to its ability to invest in operations without disclosed net debt pressure.

The earnings call involved 14 questions from 13 analysts, indicating focus on the durability of growth, margins and working capital. The company’s disclosures did not provide a specific forecast for EBITDA, and management noted that Q3 is usually seasonally lower. Those stated factors make the progression of construction demand, large-agriculture conditions and receivable movements important operating indicators.

Conclusion

Uniparts India delivered a stronger Q2 FY27, reporting ₹378.5 crore in revenue and ₹54.4 crore in net profit as construction, India aftermarket and new-business ramp-ups supported growth. EBITDA margin remained above 23%, while the company retained ₹172 crore of net cash after dividends and outlined about ₹50 crore of FY27 capital expenditure.

The next key reference point is Q3 FY27, which management expects to be broadly comparable with Q1 FY27 because of normal seasonality. Investors will also watch execution of the 24% FY27 revenue-growth target, the ramp-up of awards with more than ₹225 crore in annualised potential, margins above the company’s 20% through-cycle threshold and changes in receivables.