HONDAPOWERHonda India Power Products Ltd.
Honda India Power Products Q2 FY27 Results: Standalone Net Loss ₹4.06 Crore on Total Income of ₹265 Crore
- Earnings
- Electrical Equipment
Reviewed byRachit TripathiBlacklitt Research
Honda India Power Products (NSE: HONDAPOWER) reported a standalone net loss of ₹4 crore for the quarter ended 30 Sep 2026 on total income of ₹265 crore, it said in a filing on 05 Nov 2026. The loss follows an exceptional item of ₹36.15 crore for a voluntary retirement policy.
Key highlights
Standalone
The company on its own, without its subsidiaries
- Total income: ₹265 crore, up 43.4% YoY and 35.0% QoQ
- Net profit and EPS: Net loss of ₹4 crore; basic EPS of ₹(4.00) against ₹11.01 a year earlier
- Exceptional item: ₹36.15 crore CERP benefits expense, recognised in the quarter
- Dividends paid: ₹23.28 crore in the half year ended 30 Sep 2026
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 265 | 185 | +43.4% | 197 | +35.0% | |
| Revenue from operations | 256 | 176 | +45.9% | 189 | +35.4% |
| Other income | 9 | 9 | -2.2% | 7 | +24.9% |
| -4 | 11 | n/a | 11 | n/a | |
| Profit before tax | -5 | 15 | n/a | 15 | n/a |
| Finance costs | 0 | 0 | +66.7% | 0 | -16.7% |
| Depreciation | 7 | 6 | +29.6% | 7 | +10.6% |
| Tax expense | -1 | 4 | n/a | 4 | n/a |
| Net profit margin | -1.53% | 6.03% | -7.56 pp | 5.64% | -7.17 pp |
| EPS, basic (₹) | -4.00 | 11.01 | n/a | 10.94 | n/a |
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.
Revenue from operations rose 45.9% year on year to ₹256 crore, while other income fell 2.2% to ₹9 crore.
The loss arises after the exceptional item. The filing says the Company recognised an expense of ₹36.15 crore towards benefits under the Career Evolution Retirement Policy, which it discloses as an Exceptional Item. Profit before tax was a loss of ₹5 crore, against a profit of ₹15 crore a year earlier, and the exceptional item is the only one the notes name.
Finance costs were ₹0.05 crore, which is 0.0% of total income, so borrowing is not a material line in this quarter. Depreciation rose 29.6% YoY to ₹7 crore. Net profit margin was -1.53%, against 6.03% a year earlier and 5.64% in Q1 FY27.
The filing reports standalone results only, so no consolidated table is shown.
Inference
The filing says the Company introduced the CERP in June 2026 for permanent Operators on a voluntary basis, that 78 applications were received and all were approved by management, and that the Company then withdrew the policy and stopped accepting applications. The notes say the amount payable is expected to be settled within three months from 30 Sep 2026. The filing does not say whether it has been settled, why the policy was withdrawn, or how many employees will leave and what cost savings follow.
The Company's paid-up equity share capital is ₹10.14 crore at a face value of ₹10 per share, and dividends paid were ₹23.28 crore in the half year. The statutory auditors issued an unmodified review report.
Filed with BSE on . Reference: Original filing (PDF)
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