Kanohar Electricals shares jump over 17% as Q2 revenue more than doubles

Kanohar Electricals shares surged more than 17% on Tuesday after the company posted Q2 FY27 results that more than doubled revenue. Revenue from operations rose 112.4% year‑on‑year to ₹208.6 crore, up from ₹98.2 crore a year earlier. EBITDA climbed 167.2% to ₹73.1 crore, lifting the EBITDA margin to 35% from 27.8% last year. Profit before tax increased 178.7% to ₹72.3 crore and profit after tax rose 179.7% to ₹53.9 crore, with the PAT margin improving to 25.8% from 19.6%. For the first half of FY27, total revenue grew 108.8% to ₹345.7 crore, while EBITDA reached ₹111.8 crore and the margin rose to 32.3%. PBT hit ₹109.1 crore and PAT more than doubled to ₹81.2 crore. The power transformer business expanded 88% and shunt reactors, used for renewable grid integration, made up about 22% of revenue, a jump from a negligible share a year ago. High‑voltage equipment in the 220 kV and 400 kV range contributed nearly 78% of H1 revenue, up from roughly 53% in the prior year, helping improve margins. During Q2, the company secured fresh orders worth roughly ₹867.3 crore, pushing the order book to ₹2,711.2 crore as of 30 September 2026. The backlog is slated for execution over the next 24‑30 months, giving clear revenue visibility. A brownfield expansion at the Gangol facility is on track for commissioning by FY29, and management expects the FY27 revenue target of about ₹950 crore to be met with margins similar to FY26. Share price opened at ₹1,124.95 on the BSE, touched an intraday high of ₹1,165.90 and a low of ₹1,087.30. Analyst Gaurav Arora noted the stock debuted on 16 September at ₹685.50, reached an all‑time high near ₹1,208, and identified ₹1,208 as immediate resistance with ₹1,100 as key support.

Context

The strong order pipeline and shift toward higher‑margin high‑voltage products are typical ways Indian electrical equipment firms boost profitability, especially as renewable energy projects increase demand for grid‑integration hardware.