Tirupati Forge Q2FY27 Results: Revenue Up 51% QoQ to ₹58.15 Crore, PAT Surges 238% to ₹4.12 Crore
Tirupati Forge's Q2FY27 results show a 51% QoQ revenue increase to ₹58.15 crore and a 238% QoQ surge in PAT to ₹4.12 crore. The company completed the first batch of 155mm M107 shells and secured a DPIIT license for defence manufacturing. Commercial production for M107 shells is expected in Q4FY27, and ERFB shells by H1FY28.
The substantial increase in revenue and profit, coupled with significant advancements in the high-growth defence sector, is expected to have a material positive impact on the company's financial performance and market position.
The company reported strong year-on-year and quarter-on-quarter growth in revenue and profit. Significant progress in the defence segment, including completion of shell batches and securing licenses, indicates positive future prospects.
Tirupati Forge Limited announced its unaudited standalone financial results for the quarter and half-year ended September 30, 2026. The company reported a significant increase in revenue for Q2FY27, reaching ₹58.15 crore, a 51% rise from ₹38.43 crore in Q1FY27. This growth was primarily driven by robust demand from the North American market.
Profitability also saw a substantial improvement, with Profit After Tax (PAT) surging by 238% quarter-on-quarter to ₹4.12 crore in Q2FY27, compared to ₹1.22 crore in Q1FY27. This improvement underscores the strength of the company's business model and its operating performance.
The company also made significant strides in its defence manufacturing segment. It successfully completed the manufacturing of the first batch of 200 units of 155mm M107 empty shells and is awaiting proof testing results, with commercial production expected to commence in Q4FY27. Additionally, Tirupati Forge secured the necessary manufacturing license from DPIIT and successfully completed the forging and machining of the 155mm ERFB shell body. This positions the company among a select group of global manufacturers for this specialized defence product, with commercial production expected by H1FY28.
The company's financial performance was also supported by a strong order book visibility in the defence sector. Tirupati Forge continues to focus on operational excellence, disciplined execution, and strategic growth initiatives to create long-term value for its shareholders.
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