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.

KSH International Limited (NSE: KSHINTL) announced its financial results for Q2 & H1 FY2027, showcasing strong execution, a surge in exports, positive operating cash flow, and a reduction in debt. The company’s Managing Director, Rajesh K. Hegde, highlighted the increased utilization of expanded capacity, particularly for Specialized Magnet Winding Wires, driven by domestic and international OEMs. Strong export growth fueled higher revenue contribution. Moreover, the company completed 96% of its proposed Supa expansion six months ahead of schedule, providing 57,845 MT of available capacity. As a result, the company achieved positive operating cash flow during H1 FY2027 and reduced outstanding debt in the second quarter.

Financial Highlights

In Q2 FY27, revenue from operations grew 85% over the prior year, driven by volume growth, mix, and higher copper prices. EBITDA was Rs 897 million, up 95% from a year ago, while PAT increased 62% to Rs 480 million compared to Q2 FY26. The company’s installed capacity on September 30, 2026, was 57,845 MTs, completing its Phase 2 expansion six months ahead of schedule. The company’s focus on improving working capital efficiency helped achieve positive operating cash flow of Rs 426 million during the first half of FY27, while total debt declined to Rs 3,413 million in Q2 FY27 from Rs 4,810 million in Q1 FY27.

Recent Developments

The Board approved a new Phase 3 expansion for Specialized Magnet Winding Wires, which will increase total capacity to approximately 72,200 MTs by Q1 FY2029. This investment is aligned with the company’s long-term strategic plan and intended to provide continuity of supply for global OEM customers as the business scales up further.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of KSH International Limited

KSH International Limited belongs to the Industrials › Electrical Equipment & Parts sector. Here’s a quick read on where the business and the stock stand today.

KSH posts a 8.3% three-month gain, but softens in the last few weeks. The PEG of 0.79 signals undervaluation relative to growth. It is a potential re-rating candidate. D/E of 1.23 is elevated. As a result, debt servicing will compress free cash flow in a high-rate environment. The stock gives back 11.7% in the last month despite a positive three-month run. As a result, the earlier momentum appears to be fading. Revenue grows at 44.2% and profits at 60.5%. The business is in good shape. Moreover, a stock that does not move despite strong fundamentals often offers better value than one already priced for perfection. Check Fundamentals of KSH International Limited.