CMLL Q2 & H1 FY27 Results: Revenue Soars 89% to ₹1,176.50 Cr, EBITDA Up 49% to ₹183.57 Cr
Caliber Mining and Logistics Limited reported H1 FY27 revenue of ₹1,176.50 Cr, up 89.13% YoY, and EBITDA of ₹183.57 Cr, up 48.69% YoY. Net debt to equity improved to 0.95x. The company has an order book of ₹8,633.94 Cr and reiterated FY27 guidance for revenue, EBITDA, and PAT growth of 45-50%, 35%+, and 35%+ respectively.
The substantial year-on-year growth in key financial metrics, improved credit rating, and strong order book indicate a significant positive impact on the company's financial health and market position.
The company reported significant year-on-year growth in revenue and EBITDA, improved financial metrics like net debt to equity, and received a credit rating upgrade. The management commentary is optimistic about future guidance.
Caliber Mining and Logistics Limited (CMLL) announced its unaudited financial results for the second quarter and half year ended September 30, 2026 (Q2 & H1 FY27).
For the half year ended September 30, 2026 (H1 FY27), consolidated revenue from operations surged by 89.13% year-on-year to ₹1,176.50 Cr. EBITDA for the same period grew by 48.69% YoY to ₹183.57 Cr, with a normalised EBITDA margin of 18.50%. Cash profit saw a significant increase of 59.30% YoY to ₹100.83 Cr. The company's net debt to equity improved to 0.95x from 1.48x as of March 31, 2026, and net worth increased by 77% to ₹1,148.42 Cr. The order book stood at ₹8,633.94 Cr as of September 30, 2026, representing 5.1 times the FY26 revenue.
In the second quarter ended September 30, 2026 (Q2 FY27), revenue from operations more than doubled year-on-year, reaching ₹519.45 Cr, a 126.97% increase. EBITDA for Q2 FY27 grew by 163.48% YoY to ₹73.20 Cr, and the normalised EBITDA margin improved to 16.60%. The net loss for the quarter narrowed to ₹7.51 Cr from ₹14.23 Cr in the corresponding quarter of the previous year. Cash profit for Q2 FY27 was 4.7 times that of Q2 FY26.
Operationally, H1 FY27 saw significant growth with overburden removal up 72% YoY to 76.49 MCUM and coal extraction up 41% YoY to 2.31 MMT. Coal loaded on rakes increased by 50% YoY to 9.83 MMT. The company expanded its fleet to 2,226 units to support three new contracts won in Q1 FY27.
In August 2026, CRISIL Ratings upgraded the company's long-term rating to Crisil A- / Positive. The company reiterated its FY27 guidance, expecting revenue growth of 45-50% YoY, EBITDA growth of 35%+ YoY, and PAT growth of 35%+ YoY.
Mr. Mohit Chadda, Chairman & Managing Director, commented, "H1 FY27 has been a period of strong growth for CMLL. Revenue from operations rose 89% and EBITDA 49% year on year...We have invested ₹585 Cr in fleet, equipment and site infrastructure in the first half to mobilise the three contracts won in Q1 and to meet strong customer demand...CRISIL has upgraded our rating to A- with a Positive outlook. With an order book of ₹8,634 Cr and H2 traditionally our stronger half, we remain confident of delivering on our FY27 guidance."
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