SPECTRUMSpectrum Electrical Industries Ltd.
Spectrum Electrical Industries Q2 FY27 Results: Consolidated Net Profit ₹18.08 Crore on Total Income of ₹191 Crore
- Earnings
- Electrical and automobile components
Reviewed byRachit TripathiBlacklitt Research
Spectrum Electrical Industries (NSE: SPECTRUM) reported consolidated total income of ₹190.77 crore and net profit of ₹18.08 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹192.97 crore and net profit of ₹18.46 crore, it said in a filing on 07 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹190.77 crore, up 59.2% YoY and 21.9% QoQ
- Net profit and EPS: ₹18.08 crore, up 131.5% YoY; basic EPS ₹11.41
- Finance costs: ₹5.87 crore, up 124.4% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹192.97 crore, up 63.8% YoY and 21.8% QoQ
- Net profit and EPS: ₹18.46 crore, up 132.8% YoY; basic EPS ₹11.65
- Finance costs: ₹5.65 crore, up 122.8% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 190.77 | 119.85 | +59.2% | 156.53 | +21.9% | |
| Revenue from operations | 198.39 | 117.68 | +68.6% | 158.55 | +25.1% |
| Other income | 1.38 | 2.16 | -36.4% | 1.98 | -30.6% |
| 18.08 | 7.81 | +131.5% | 13.05 | +38.5% | |
| Profit before tax | 29.43 | 11.85 | +148.3% | 17.63 | +66.9% |
| Finance costs | 5.87 | 2.62 | +124.4% | 5.22 | +12.5% |
| Depreciation | 3.73 | 2.91 | +28.0% | 3.37 | +10.6% |
| Tax expense | 11.36 | 4.04 | +180.8% | 4.58 | +147.7% |
| Net profit margin | 9.48% | 6.52% | +2.96 pp | 8.34% | +1.14 pp |
| EPS, basic (₹) | 11.41 | 4.93 | +131.4% | 8.31 | +37.3% |
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 grew more slowly than profit before tax in the consolidated results. Profit before tax rose 148.3% to ₹29.43 crore and net profit rose 131.5% to ₹18.08 crore, while tax expense rose 180.8% to ₹11.36 crore, which is 38.6% of profit before tax.
Total income rose 59.2% to ₹190.77 crore, with revenue from operations up 68.6% to ₹198.39 crore and other income down 36.4% to ₹1.38 crore. Other income is 0.7% of total income, so the consolidated figure is largely the operating line.
Finance costs rose 124.4% to ₹5.87 crore, faster than revenue from operations, and equal to 3.1% of total income. Depreciation rose 28.0% to ₹3.73 crore over the same quarter last year.
Diluted EPS is ₹11.23. The auditor did not review the interim information of five subsidiaries, which the filing puts at total assets of ₹133.86 crore and total revenue of ₹22.26 crore.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 192.97 | 117.80 | +63.8% | 158.50 | +21.8% | |
| Revenue from operations | 190.78 | 116.06 | +64.4% | 155.88 | +22.4% |
| Other income | 2.19 | 1.75 | +25.3% | 2.62 | -16.4% |
| 18.46 | 7.93 | +132.8% | 13.29 | +38.9% | |
| Profit before tax | 29.64 | 11.21 | +164.5% | 17.68 | +67.7% |
| Finance costs | 5.65 | 2.54 | +122.8% | 4.85 | +16.5% |
| Depreciation | 3.56 | 2.76 | +29.0% | 3.21 | +10.9% |
| Tax expense | 11.18 | 3.28 | +241.1% | 4.39 | +154.9% |
| Net profit margin | 9.57% | 6.73% | +2.83 pp | 8.39% | +1.18 pp |
| EPS, basic (₹) | 11.65 | 5.05 | +130.7% | 8.45 | +37.9% |
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.
Standalone net profit rose 132.8% to ₹18.46 crore, faster than total income, which rose 63.8% to ₹192.97 crore. Profit before tax rose 164.5% to ₹29.64 crore, and tax expense rose 241.1% to ₹11.18 crore, which is 37.7% of profit before tax.
Revenue from operations rose 64.4% to ₹190.78 crore. Other income of ₹2.19 crore rose 25.3% on the year but fell 16.4% on the quarter before, and is 1.1% of total income.
Finance costs rose 122.8% to ₹5.65 crore and depreciation rose 29.0% to ₹3.56 crore. The standalone cash flow statement for the half year shows a subsidy received of ₹2.75 crore, reported as ₹2.75 crore.
Inference
The board approved the appointment of Narendra Daulatrao Wagh, an independent director, as a director of the material subsidiary Alric Electric Private Limited, subject to that subsidiary's board approval. The company says the required disclosures will follow once that approval is given.
On 11 Sep 2026 the company allotted 13,73,625 equity shares and 2,49,750 share warrants at ₹2,002 per security, aggregating ₹325 crore. It has received ₹287.50 crore of this. Of ₹375 crore allocated to objects, ₹31.67 crore, about 8.4%, was utilised till 30 Sep 2026, and ₹255.83 crore was lying in the share application account.
The filing does not give the reason for the rise in finance costs, nor when the balance 75% of warrant consideration will be paid beyond the prescribed period, and it does not state whether the subsidiary's board has approved Wagh's appointment.
Filed with BSE on . Reference: Original filing (PDF)
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