SETL Q2FY27 Revenue Up 62.3% YoY to ₹296.6 Cr; PAT Rises 37.9% to ₹28.2 Cr
Standard Engineering Technology Limited reported Q2 FY27 revenue of ₹296.6 Cr, up 62.3% YoY. PAT increased 37.9% YoY to ₹28.2 Cr. H1 FY27 revenue was ₹544.3 Cr, up 53% YoY. The company is progressing with strategic investments in GScale Energy and GL Hakko. Production for AI datacenter infrastructure is set to commence in December 2026.
The significant year-on-year growth in key financial metrics (revenue, EBITDA, PAT) indicates strong operational performance and market demand. Progress on strategic investments in high-growth areas like AI datacenters and the company's robust financial health (net-debt-free) are material positive factors for investors.
The company has reported strong year-on-year growth in revenue, EBITDA, and PAT for both the quarter and half-year ended September 30, 2026. Strategic investments are progressing as planned, and the company maintains a net-debt-free status, indicating a positive financial outlook.
Standard Engineering Technology Limited (SETL) has announced its financial results for the quarter and half-yearly ended September 30, 2026. The company reported a total revenue of ₹296.6 crore for Q2 FY27, marking a significant year-on-year increase of 62.3% from ₹182.8 crore in Q2 FY26. This strong performance was driven by higher execution, an expanded product portfolio, and healthy demand.
EBITDA for the quarter surged by 79.7% YoY to ₹51.4 crore (excluding other income), with the EBITDA margin improving to 17.3% from 15.7% in the previous year. Profit After Tax (PAT) for Q2 FY27 grew by 37.9% YoY to ₹28.2 crore, although the PAT margin saw a slight decrease to 9.5% from 10.9%.
For the half-year ended September 30, 2026 (H1 FY27), total revenue increased by 53% YoY to ₹544.3 crore. H1 FY27 EBITDA grew by 56.5% YoY to ₹91.0 crore with an improved margin of 16.7%, while PAT rose by 32.2% YoY to ₹54.9 crore.
The company highlighted that revenue has risen for five consecutive quarters, with Q2 FY27 being the high point across all key financial metrics. The segment-wise revenue mix shows Pharmaceuticals as the anchor, contributing 70% of revenue in Q2 FY27, while Chemicals' share has grown to 20%. Exports currently constitute 3% of revenue.
Strategic updates include progress on majority-ownership paths in GScale Energy and GL Hakko. SETL acquired a 33.55% stake in GScale Energy and aims for up to 51% ownership. In GL Hakko, the company completed Phase 1 of its investment and is working towards a potential 51.07% ownership. The GScale Energy facility expansion at Tukkuguda is progressing, with the remaining 127,000 sq ft expansion expected by Q4 FY27. Machinery for the AI datacenter segment is 100% ordered, with production set to begin in December 2026.
Historically, SETL has demonstrated a strong compounding growth trajectory with a 34% revenue CAGR and 35% PAT CAGR over FY22-26. The company remains net-debt-free, supported by a healthy operating cash flow of ₹61.0 crore in H1 FY27. The working capital cycle has improved to 113 days in H1 FY27 from 160 days in FY26.
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