November 09, 2026

 

TOP NEWS

 

GE Shipping: Reported a strong Q2FY27 performance, with consolidated revenue rising 46.9% YoY to Rs. 1,824 crore and net profit increasing 118.3% to Rs. 1,269 crore. EBITDA grew 58.9% to Rs. 1,157 crore, with margins expanding to 63.4% from 59%. Performance was supported by strong shipping and offshore segment earnings, along with a gain of Rs. 308 crore from the sale of ships and other assets. The company also declared a second interim dividend of Rs. 14.40 per share.

 

Goldiam International Q2FY27: Revenue ₹274 Cr (+42% YoY), EBITDA ₹56 Cr(+46% YoY), EBITDA Margin 20.42% vs 19.88% YoY. PAT ₹49.40 Cr(+58% YoY)

 

Anupam Rasayan: Reported strong Q2FY27 performance, with revenue increasing 11% YoY to Rs. 821 crore, its highest-ever quarterly revenue. EBITDA rose 41% to Rs. 202 crore, with margins improving to 25% from 19%, while PAT grew 14% to Rs. 65 crore. For H1FY27, revenue increased 21% to Rs. 1,489 crore, EBITDA rose 38% to Rs. 377 crore and PAT grew 10% to Rs. 116 crore. During the quarter, the company signed a six-year supply agreement with a US-based specialty metal manufacturer, marking its entry into the geological resources sector, and completed the acquisition of a 50.07% stake in Bliss GVS Pharma. Management guided for H2FY27 consolidated revenue of Rs. 2,400–2,500 crore, with the new US contract expected to contribute Rs. 100–150 crore in FY27, with supplies commencing in November 2026. The standalone order book stood at approximately Rs. 17,500 crore.

 

Divis Laboratories : The company posted a net profit of Rs. 689 crore in the corresponding period of the previous fiscal year. Revenue from operations rose 35.39 per cent to Rs.3,676 crore during the second quarter of FY27 from Rs.2,715 crore a year earlier. Its total expenses rose to Rs.2,265 crore in the period under review from Rs.1,948 crore a year ago. The company's net profit for the first half of the current fiscal year, however, declined 35.39 per cent to Rs.2,029 crore from Rs.2,568 crore in the year-ago period.

 

Sigma Advanced Systems: The company posted a tenfold increase in second-quarter net profit to ₹42.46 crore, up from ₹4.23 crore in the corresponding period last year. The surge was driven by operational revenue of ₹417.07 crore, marking an 11.43% quarter-on-quarter growth. The company’s strategic pivot into high-margin Aerospace and Defence sectors is evident in its financials and order book. Alongside the results, the Board approved a fund-raising proposal of up to ₹3,000 crore to support expansion, while the investor presentation highlighted a robust order book exceeding ₹10,000 crore with nearly 90% international exposure.


Adani Enterprises: AdaniConneX Private Limited (ACX), a joint venture of Adani Enterprises, has completed the acquisition of a 100% stake in Vizag Mega Data Center Park Limited (VMDCPL) from Adani Infra (India) Limited. Following the acquisition, VMDCPL has become a joint venture of Adani Enterprises, strengthening its presence in the data centre business.

 

Finolex Cables Q2 : Revenue ₹2,269 Cr(+65% YoY), EBITDA ₹311 Cr(+114% YoY),EBITDA Margin 13.71% vs 10.55% YoY.PAT ₹273 Cr(+68% YoY)

 

Power Mech Projects: The company has secured an expansion contract for the Rabigh 2 IPP project in Saudi Arabia, valued at ₹387 crore. This order signifies a continuation of the company's operational execution trajectory and order book expansion.

 

 

INVESTMENT CALL

First cut: Ratnamani Metals & Tubes Q1FY2027 results:

 

-       Consolidated revenue jumped 38.69% from Rs 971.63 crore, and net profit attributable to owners rose 23.61% from Rs 82.16 crore, compared with Q1 FY27. On a half-yearly basis, H1 FY27 revenue was broadly flat at Rs 2,319.14 crore (-1.0% YoY), while attributable net profit fell 31.5% to Rs 183.73 crore.

-       Company’s consolidated net profit declined 25.44% in Q2FY26. Net profit of Ratnamani Metals & Tubes declined 25.44% to Rs 101.56 crore in the quarter ended September 2026, against Rs 136.22 crore in the quarter ended September 2025. Revenue from operations rose 13.08% to Rs 1,347.51 crore from Rs 1,191.69 crore.

-       The core Steel Tubes and Pipes segment recovered in volume but not in profitability. Segment sales rose 13.80% YoY to ₹1,121.74 Cr, and 46.1% QoQ from ₹767.81 Cr. However, segment profit fell 44.74% YoY to ₹82.74 Cr, and its operating margin slipped from 15.19% to 7.38%, slightly below Q1’s 7.62%. At the standalone level, other expenses nearly doubled to ₹235.15 Cr from ₹121.28 Cr, which was the biggest drag on margins.

-       Pipe Spools emerged as the group’s profit engine. Revenue from the Pipe Spools and Auxiliary Support Systems segment (Ratnamani Finow Spooling Solutions) grew 42.20% YoY to ₹156.96 Cr. Segment profit rose about 2.5x to ₹82.31 Cr from ₹32.83 Cr, with margins expanding to 52.44% from 29.74%. The segment now accounts for nearly half of group segment profit. Because Ratnamani does not fully own this subsidiary, minority shareholders’ share of profit rose to ₹31.78 Cr from ₹19.82 Cr

-       View: Ratnamani metals showed Sharp sequential recovery after a weak June quarter in terms of revenue. The “structural shift” story is stronger with Q2 data, since the pipe spools segment generated nearly half of group segment profit. We will review our estimates and send a detailed note. Currently, we have a buy rating on the stock.

 

Particulars

Q2FY27

Q2FY26

YoY Change

Q1FY27

QoQ Change

Revenue from operations

1,347.50

1,191.70

13.10%

971.6

38.70%

EBITDA (₹ Cr)

188.8

211.2

-10.60%

162.2

16.40%

EBITDA Margin (%)

14.00%

17.70%

-371 bps

16.7%

-268 bps

PAT (₹ Cr)

133.3

156

-14.50%

107.0

24.60%

Adjusted EPS (₹)

14.49

19.43

-25.40%

11.72

23.60%

 

OTHER NEWS

Voltas company : The company reported a 53.4% YoY increase in net profit to Rs 52.6 crore in Q2FY27, compared with Rs 34.3 crore in the corresponding quarter last year. Revenue increased 15.3% to Rs 2,707 crore from Rs 2,347 crore in the year-ago period.

 

Marico: The company has entered into definitive agreements with the founders of Bonorizon Consumer Ventures Private Limited to acquire a 51% stake in the company for an aggregate consideration of up to Rs 35 crore. The acquisition will be carried out through a primary subscription to Bonorizon's equity share capital and voting rights, subject to the terms and conditions of the definitive agreements.

 

Tata Group company : Tata Steel reported a 16.2% year-on-year (YoY) increase in consolidated profit after tax (PAT) to Rs 3,699.59 crore in Q2FY27, compared with Rs 3,183.09 crore in the corresponding quarter of the previous fiscal. Consolidated revenue from operations increased 11.5% YoY to Rs 65,436.24 crore during the September quarter, against Rs 58,689.29 crore reported in the year-ago period.