Vindhya Telelinks Limited (VTL) or the Company, a flagship company of the MP Birla Group, today announced its financial results for the second quarter and half year ended September 30, 2026. The Cable business recorded a significant improvement in operational performance, supported by higher scale and increased contribution from the Optical Fibre Cable (OFC) business. The EPC business continued to navigate execution and working capital challenges in certain government-funded projects, with the release of funds under key infrastructure programmes providing support towards the gradual normalisation of project cash flows.

Cable Business: Strong Operating Momentum

The Cable business continued to strengthen its growth momentum, registering EBITDA of ₹7936.81 lakhs in Q2 FY 2026–27, compared with ₹2166.94 lakhs in the corresponding quarter of the previous year, representing an increase of over 250%. The improvement reflects higher business volumes and increased contribution from the Optical Fibre Cable business, supported by sustained demand for connectivity infrastructure.

EPC Business: Focused on Execution, Cash Flow Recovery and Operational Efficiency

The EPC business reported revenue of ₹51285.14 lakhs and EBITDA of ₹4237.12 lakhs during Q2 FY 2026–27, compared with ₹75365.99 lakhs and ₹6045.55 lakhs, respectively, in the corresponding quarter of the previous year. Performance continued to be influenced by execution and funding-related constraints in certain government-funded projects, particularly under the Jal Jeevan Mission (JJM). The Company witnessed encouraging progress in the reduction of outstanding receivables under UP-JJM (Phase 3) with the balance declining from ₹ 727.28 crore as at June 30, 2026 to ₹ 540.89 crore as at September 30, 2026.

VTL remains focused on strengthening its established businesses while aligning its capabilities with emerging opportunities across digital connectivity, power distribution, renewable energy and other infrastructure segments. With an order book of around ₹5000 crore as at September 30, 2026, excluding operations and maintenance (O&M) orders, ongoing investments in advanced cable manufacturing capabilities and a continued emphasis on project selectivity and working capital discipline, VTL is focused on improving earnings quality and generating sustainable cash flows.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Vindhya Telelinks Limited

Vindhya Telelinks Limited belongs to the Industrials › Engineering & Construction sector. Here’s a quick read on where the business and the stock stand today.

Vindhya gains 58.3% over three months and trades near its 52-week highs. Thin margins at 6.9% leave limited room for error — any demand softness or cost spike hits the bottom line hard. The PEG of 2.53 makes it expensive versus peers. The premium needs earnings to catch up quickly. The stock trades at 93% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. The stock rises 58.3% in three months. Yet revenue grows at only 7.3% and the PEG stands at 2.53. Either the market prices in a turnaround that has not shown up yet, or this is momentum without substance. Check the next two earnings prints before drawing conclusions. Check Fundamentals of Vindhya Telelinks Limited.

Afcons Infrastructure Limited (AFCONS) has reported strong order wins driving growth visibility for the quarter ended 30th September 2026. The company’s order inflow remained robust during H1 FY27, with new orders of nearly ₹16,000 crore across various sectors. This has taken the pending order book to ₹43,837 crore, excluding L1 projects.

Robust Project Pipeline

The year-to-date order intake stands at nearly ₹19,500 crore, providing healthy revenue visibility. Supported by a robust project pipeline and bids under evaluation, the company remains on track to achieve its full-year order inflow guidance of ₹30,000 crore. Notably, more than 45% of the new orders came from overseas markets.

Key Financial Highlights

For H1 FY27, total income stood at ₹5,633 crore. EBITDA came in at ₹578 crore, translating into an EBITDA margin of 10.3%. The company reported a PAT of ₹71 crore for the same period. Afcons has also made significant progress in addressing project-specific execution challenges, with land handovers advancing and certain approvals and clearances moving forward.

Looking ahead, Afcons Infrastructure Limited remains focused on converting improved visibility into stronger execution, collections, and cash flows. The company is optimistic about achieving its growth targets and continuing its strong performance in the future.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Afcons Infrastructure Limited

Afcons Infrastructure Limited belongs to the Industrials › Engineering & Construction sector. Here’s a quick read on where the business and the stock stand today.

Afcons drops 18.5% over three months and trades near its 52-week lows. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. Revenue contracts at -1.8% CAGR. That signals structural headwinds, not a short-term blip. The stock sits at 8% of its 52-week range, close to annual lows. Historically, value investors build positions at these levels — though cheap stocks can stay cheap. Revenue grows at -1.8% CAGR and the PEG stands at 99.00. The growth does not match the price the market asks. Furthermore, flat price action adds no technical catalyst. A lower price or faster revenue growth would improve the odds. Check Fundamentals of Afcons Infrastructure Limited.

Jash Engineering Limited (NSE: JASH) has reported its Q2 FY27 results, showcasing continued business momentum and strong execution. During the quarter, the company reported revenue of ₹194.9 crore, up 22% year-on-year (YoY), with EBITDA of ₹27.3 crore – up 23% and PAT of ₹14.3 crore – up 30%. This has resulted in H1 FY27 revenue growth of 20% to ₹351 crore, EBITDA growth of 75% to ₹42 crore and PAT growth of 234% to ₹19 crore. As of November 1, 2026, our consolidated order book stood at ₹955 crore, including ₹625 crore from international markets, providing a healthy revenue visibility.

Subsidiary Performance

Our execution capabilities were further demonstrated through projects across India, USA, UK, Saudi Arabia, Hongkong, Vietnam and Thailand, spanning wastewater treatment, water-control infrastructure and industrial applications. Given our healthy order pipeline and strong revenue visibility, we expect H2 FY27 to deliver a healthy performance in line with our projections made at the beginning of the year.

Financial Highlights

The consolidated order book as on 1st November 2026 stood at ₹955 crore, with ₹330 crore within India and ₹625 crore outside India. The consolidated order pipeline as on 1st November 2026 was ₹129 crore, with ₹119 crore within India and ₹10 crore outside India. The consolidated income statement for H1 FY27 showed revenue from operations at ₹342.39 crore, EBITDA at ₹41.51 crore, and PAT at ₹19.63 crore.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Jash Engineering Limited

Jash Engineering Limited belongs to the Industrials › Specialty Industrial Machinery sector. Here’s a quick read on where the business and the stock stand today.

Jash holds in the upper half of its 52-week range, a sign the market backs the stock. The PEG of 2.90 makes it expensive versus peers. The premium needs earnings to catch up quickly. The business compounds revenue at 22.6% and profits at 13.8% CAGR. That is strong double-digit growth on both counts. The stock trades at 74% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. The stock rises 4.7% in three months on 22.6% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Jash Engineering Limited.