HBL Engineering Q2 FY27 Results: Consolidated Net Profit ₹193 Crore on Total Income of ₹894 Crore
- Earnings
- batteries and defence electronics
Reviewed byKeshav SehgalBlacklitt Research
HBL Engineering (NSE: HBLENGINE) reported consolidated total income of ₹893.67 crore and net profit of ₹192.75 crore for the quarter ended 30 Sep 2026, it said in a filing on 07 Nov 2026. Standalone total income was ₹877.70 crore and standalone net profit was ₹178.46 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹893.67 crore, down 27.9% YoY and up 35.7% QoQ
- Net profit and EPS: ₹192.75 crore, down 50.2% YoY and up 76.6% QoQ; basic EPS ₹6.95
- Finance costs: ₹6.31 crore, up 82.4% YoY, or 0.7% of total income
Standalone
The company on its own, without its subsidiaries
- Total income: ₹877.70 crore, down 28.0% YoY and up 37.2% QoQ
- Net profit and EPS: ₹178.46 crore, down 36.8% YoY and up 69.2% QoQ; basic EPS ₹6.44
- Electronics segment revenue: ₹363.23 crore against ₹793.58 crore a year earlier
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 893.67 | 1,238.68 | -27.9% | 658.59 | +35.7% | |
| Revenue from operations | 871.56 | 1,222.90 | -28.7% | 638.03 | +36.6% |
| Other income | 22.11 | 15.78 | +40.1% | 20.56 | +7.5% |
| 192.75 | 387.26 | -50.2% | 109.14 | +76.6% | |
| Profit before tax | 245.56 | 520.36 | -52.8% | 149.45 | +64.3% |
| Finance costs | 6.31 | 3.46 | +82.4% | 5.41 | +16.6% |
| Depreciation | 13.25 | 12.16 | +9.0% | 12.43 | +6.6% |
| Tax expense | 60.05 | 132.91 | -54.8% | 38.54 | +55.8% |
| Net profit margin | 21.57% | 31.26% | -9.70 pp | 16.57% | +5.00 pp |
| EPS, basic (₹) | 6.95 | 13.96 | -50.2% | 3.95 | +75.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit fell faster than income. Consolidated profit before tax fell 52.8% and net profit fell 50.2%, while total income fell 27.9%.
Other income is a small part of the quarter's income: ₹22.11 crore is 2.5% of total income and 9.0% of profit before tax of ₹245.56 crore. Finance costs of ₹6.31 crore were up 82.4% on the year-earlier quarter but remain 0.7% of total income.
Tax expense was ₹60.05 crore, or 24.5% of profit before tax, compared with ₹132.91 crore a year earlier. The statement shows exceptional income of ₹13.16 crore in the quarter, which the notes link to compensation from the Government of Telangana for the compulsory acquisition of part of the company's land.
Against the quarter before, net profit rose 76.6% and total income rose 35.7%, so profit grew faster than income on that comparison. The share of profit of associates and joint venture was ₹7.24 crore in the quarter.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 877.70 | 1,219.02 | -28.0% | 639.83 | +37.2% | |
| Revenue from operations | 862.94 | 1,203.16 | -28.3% | 619.54 | +39.3% |
| Other income | 14.76 | 15.86 | -6.9% | 20.29 | -27.3% |
| 178.46 | 282.20 | -36.8% | 105.47 | +69.2% | |
| Profit before tax | 236.35 | 514.62 | -54.1% | 142.48 | +65.9% |
| Finance costs | 6.06 | 3.18 | +90.6% | 5.14 | +17.9% |
| Depreciation | 12.61 | 11.57 | +9.0% | 11.72 | +7.6% |
| Tax expense | 57.89 | n/a | n/a | n/a | n/a |
| Net profit margin | 20.33% | 23.15% | -2.82 pp | 16.48% | +3.85 pp |
| EPS, basic (₹) | 6.44 | 13.78 | -53.3% | 3.81 | +69.0% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit fell 36.8% YoY, less than the 54.1% fall in profit before tax, and more than the 28.0% fall in total income. Revenue from operations fell 28.3% to ₹862.94 crore while other income fell 6.9% to ₹14.76 crore.
The electronics segment is the largest change in the standalone figures. Its revenue was ₹363.23 crore, 45.8% of the ₹793.58 crore reported a year earlier, a fall of 54.2%. Industrial batteries revenue was ₹411.62 crore and defence and aviation batteries revenue was ₹82.47 crore in the quarter.
Standalone tax expense was ₹57.89 crore, or 24.5% of profit before tax of ₹236.35 crore. Finance costs rose 90.6% to ₹6.06 crore and depreciation rose 9.0% to ₹12.61 crore.
Standalone basic EPS was ₹6.44 against ₹13.78 a year earlier, a fall of 53.3%.
Inference
The company says the equity shares of Tonbo Imaging India Limited were listed on the main board of both exchanges effective 23 Oct 2026, and that the impact on its investment will be reflected from the next quarter's results onwards.
The filing gives no reason for the fall in standalone electronics segment revenue, and it does not say what value effect the Tonbo listing will have on the investment.
Filed with BSE on . Reference: Original filing (PDF)
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