Vivid Electromech Q2 FY27 Revenue Rises 29.7% in H1

Vivid Electromech Ltd reported revenue from operations of ₹91.53 crore for the first half of FY27, up 29.7% year-on-year from ₹70.57 crore in H1 FY26. The electrical panels and automation systems manufacturer also recorded growth in EBITDA and profit after tax, alongside an improvement in operating and net margins. Its investor presentation, published on 26 October 2026, places the financial update alongside details of a manufacturing expansion at Ambernath in Maharashtra. The company said the new Phase I facility is expected to add substantially to its existing production capability. The presentation does not provide explicit margin outlook guidance. It also does not substitute for management guidance that may be discussed at the scheduled earnings conference call.

H1 FY27 revenue crosses ₹90 crore

Revenue from operations reached ₹91.53 crore in H1 FY27, compared with ₹70.57 crore a year earlier. The increase amounted to ₹20.96 crore over the comparable prior-year period. The company operates in the low-voltage and medium-voltage electrical panels and automation systems segment, serving applications that include data centres and industrial projects. The reported half-year performance follows a Q1 FY27 revenue figure of ₹32.68 crore disclosed earlier by the company. The H1 result therefore includes the contribution from the September quarter, although the presentation extract provides the half-year figure rather than a separate Q2 revenue number. Investors should distinguish between the H1 financial data reported in the presentation and quarterly management commentary, which was not available in the supplied material.

EBITDA growth outpaces sales increase

EBITDA rose 37.5% year-on-year to ₹19.00 crore in H1 FY27 from ₹13.82 crore in H1 FY26. EBITDA margin improved by 113 basis points to 20.62%, compared with 19.49% a year ago. This indicates that operating profit grew faster than revenue during the period. The company has attributed its broader performance context to demand from data centre and industrial customers. However, the investor presentation does not state a formal forward margin target. The reported figures should therefore be read as historical half-year results rather than a projection for the rest of FY27.

Profit after tax rises 38.5%

Profit after tax increased 38.5% to ₹13.08 crore in H1 FY27, against ₹9.44 crore in H1 FY26. PAT margin rose by 91 basis points to 14.29% from 13.38%. The rise in PAT was slightly faster than the increase in EBITDA, based on the reported year-on-year percentages. This combination of revenue growth and margin expansion is a key feature of the half-year update. The presentation does not set out a separate earnings outlook or forecast for the full financial year. As a result, the disclosed financial metrics remain the primary basis for assessing the reported period.

Key H1 FY27 financial metrics

Equity raise changes the balance-sheet position

Vivid Electromech raised ₹93.23 crore through equity in H1 FY27, comprising share capital and securities premium. Following the fund raise, the company reported a net cash position of ₹1.15 crore. Debt-to-equity stood at 0.15x, according to the corporate announcement accompanying the investor presentation. The equity infusion is relevant because the company is spending on its capacity expansion while seeking to maintain financial flexibility. It also provides context for the reported capital expenditure during the half year. The presentation does not provide further details on the allocation of every component of the equity proceeds.

Ambernath Phase I expansion remains central

The company is developing a new manufacturing unit under Phase I at Lodha Industrial & Logistics Park-2, Nahren, Ambernath, Thane, Maharashtra. The land area is about 7,978 square metres, or roughly 119,800 square feet. Once Phase I is operational, total capacity is expected to reach 14,300 low-voltage modules and 700 medium-voltage modules annually. Vivid Electromech had existing capacity of 7,500 units across Navi Mumbai and Pune, according to the supplied company material. The new site is described as an automated facility. The presentation said commercial operations were expected by the end of November 2026, subject to Maharashtra Pollution Control Board Consent to Operate and a Fire NOC.

Capex spending and work in progress

The company spent ₹35.55 crore on the capacity expansion in FY26 and a further ₹34.08 crore in H1 FY27. Capital work-in-progress stood at ₹33.68 crore as of September 2026. These figures show that construction and commissioning activities remained material during the first half of the year. The timing of commercial production remains dependent on the stated regulatory and fire approvals. Until those approvals are received and operations begin, the facility remains an ongoing expansion project rather than an operating contributor to revenue. The disclosed capex should be assessed alongside the equity fund raise and the company’s reported net cash position.

Order book provides disclosed execution visibility

The company’s 26 October announcement cited an order book of ₹307 crore. This was higher than the ₹210 crore order book disclosed with the Q1 FY27 update. An order book represents work yet to be executed and is not the same as recognised revenue. Its conversion into revenue depends on execution schedules, customer requirements and project conditions. Earlier material also referred to panel orders across data centre and non-data-centre applications. The H1 presentation does not provide a detailed break-up of the ₹307 crore order book by customer, project, segment or expected delivery period.

Why the update matters for investors

The H1 FY27 update combines 29.7% revenue growth with expansion in both EBITDA and PAT margins. It also shows a balance sheet shaped by a ₹93.23 crore equity raise and significant investment in a larger factory. For the electrical equipment industry, capacity availability can be important when order inflows rise in project-led sectors such as industrial infrastructure and data centres. But the additional capacity will depend on the Ambernath plant reaching commercial operations after the required approvals. The reported ₹307 crore order book offers a disclosed measure of pending business, while the company has not provided a formal margin outlook in the presentation. These are the principal factual markers for following the next updates.

Earnings call is scheduled for 28 October

Vivid Electromech has scheduled its H1 FY27 earnings conference call for 28 October 2026 at 12:00 PM IST. The investor presentation was published on 26 October, and the supplied material notes that an earnings-call transcript was not yet available for the quarter. Any management comments from the scheduled call would be separate from the reported presentation data. Investors may look for further clarity on plant commissioning, order-book execution and capital expenditure as the company provides subsequent disclosures. For now, the presentation records higher H1 revenue and profits, a stronger reported balance-sheet position and continued spending on the Ambernath expansion.