Industrials
Shadowfax Technologies Limited (shadowfax) Crosses ₹1,500 Cr Quarterly Revenue in Q2 FY27
Shadowfax Technologies Limited (NSE: SHADOWFAX) reports ₹1,538 Cr revenue, 56.6% YoY growth in Q2 FY27, with 5.0% Adjusted EBITDA margin.
Shadowfax Technologies Limited (NSE: SHADOWFAX) announced its Q2 FY27 performance, marking its best-ever quarter with ₹1,538 Cr revenue, a 56.6% year-over-year growth. The company’s adjusted EBITDA margin expanded to 5.0%, and PAT stood at ₹68 Cr, reflecting a 422% year-over-year increase.
Record Revenue and Margin Expansion
This marks the sixth consecutive quarter of 55%+ revenue growth. Despite the sale season being pushed into Q3, margins have expanded to a new high. The company delivered 27.1 Cr orders combined in express parcel and hyperlocal, up 69.7% year-over-year, crossing an annualised run rate of 100 Cr orders.
Technology-Driven Growth
Shadowfax’s AI-led network optimization engine, built in-house, dynamically plans the national network, improving vehicle utilization, lowering costs, and speeding up movement. This proprietary advantage compounds with scale, enabling the company to offer same-day delivery across 120+ cities.
Looking Ahead
Commenting on the company’s performance, Abhishek Bansal, Co-founder and CEO of Shadowfax, said: “We enter the second half with strong momentum – ₹1,500+ Cr in quarterly revenue, a milestone 5% Adjusted EBITDA margin and growth that keeps accelerating. As the only 3PL of national scale offering same-day delivery across 120+ cities, we serve them best, and our new micro-fulfilment centers will bring a far wider range of products within hours to the customer. We head into the festive peak with more capacity than ever, and with an AI-led optimization engine planning our national network every day. Fast, flexible and future-ready, Shadowfax expects to remain India’s fastest-growing 3PL while delivering industry-leading returns.”
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Shadowfax Technologies Limited
Shadowfax Technologies Limited belongs to the Industrials › Integrated Freight & Logistics sector. Here’s a quick read on where the business and the stock stand today.
Shadowfax gains 29.6% over three months and trades near its 52-week highs. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. 1 loss quarter(s) over five years signals earnings fragility — not chronic but worth noting. Buyers show up with 1.5x the volume of sellers. Moreover, they dominated on 16 of recent sessions versus 14 for sellers — a healthy accumulation pattern. The stock rises 29.6% in three months on 43.7% 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 Shadowfax Technologies Limited.
Industrials
Ram Ratna Wires Limited (ramrat) Reports Strong Q2 & H1 FY27 Performance: Revenue Up 78% Yoy
Ram Ratna Wires Limited (RAMRAT) reports a strong first half of FY27 with revenue from operations growing 78% YoY and profit after tax increasing 88%.
Ram Ratna Wires Limited (RAMRAT) announced its financial results for the quarter and half year ended 30th September 2026. The company reported a robust performance with revenue from operations increasing 78% year-on-year to ₹1,962 crore and profit after tax rising 88% to ₹36 crore. The strong performance reflects healthy demand across the company’s core portfolio, alongside the growth in its expanding businesses, supported by focused execution and strategic investments.
Key Financial Highlights
The company’s EBITDA surged 61% year-on-year to ₹90 crore, while the EBITDA margin remained stable at 4.6%. The Copper Tubes & Pipes business continues to gain meaningful scale, with revenue growing 69% year-on-year in Q2 FY27 and 133% in H1 FY27. Its contribution to overall revenue increased from 19% in H1 FY26 to 25% in H1 FY27, highlighting its growing role in diversifying the business mix alongside the winding wires and strips portfolio.
Looking Ahead
Commenting on the results, Shri Mahendrakumar Kabra, MD, said, “We have delivered a strong first half of FY27, with revenue from operations growing 78% year-on-year and profit after tax increasing 88%. Looking ahead, we see our established core businesses and emerging growth platforms as complementary drivers of our next phase of growth. With India’s multi-year electrification opportunity creating demand across power transmission and distribution, renewable energy, electric mobility, and industrial applications, we remain focused on strengthening our market position, scaling our expanding businesses, and building a more diversified portfolio to deliver sustainable, long-term growth.”
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Ram Ratna Wires Limited
Ram Ratna Wires Limited belongs to the Industrials › Electrical Equipment & Parts sector. Here’s a quick read on where the business and the stock stand today.
Ram gains 39.5% over three months and trades near its 52-week highs. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. Revenue grows at 25.0% and profits at 33.6% CAGR. Both numbers are exceptional. The stock trades at 77% of its 52-week range — near its best levels of the year. Clearly, the market pays a premium for this name. Both the business and the stock move in the right direction. Revenue grows at 25.0%, profits at 33.6%, and the PEG sits at 1.26 — below its growth rate. That combination is rare. Check Fundamentals of Ram Ratna Wires Limited.
BLUESTARCO
Blue Star Limited Q2fy27: Revenue Up 21%, Net Profit Grows 25%
Blue Star Limited (BLUESTARCO) reports a 21% revenue growth and 25% net profit increase in Q2FY27, driven by strong demand for Room ACs.
Blue Star Limited (BLUESTARCO) reported a robust financial performance for Q2FY27, with consolidated revenue growing 21% to Rs 2930.95 crores and net profit increasing 25.4% to Rs 123.91 crores compared to the same period last year. The extended summer season drove strong demand for Room ACs, contributing to the revenue growth. However, profitability remained under pressure due to escalated material costs.
Consolidated Financial Performance
The company’s revenue from operations grew by 21% to Rs 2930.95 crores for the quarter ended September 30, 2026, compared to Rs 2422.37 crores in the same period last year. The operating profit increased by 10.5% to Rs 202.58 crores, while net profit grew by 25.4% to Rs 123.91 crores. An exceptional gain of Rs 23.02 crores was recognized on the sale of the MedTech business.
Segment Performance
The Electro-Mechanical Projects, Commercial Air Conditioning Systems, Service and International Business segment saw a 16.3% revenue growth to Rs 1935.99 crores. The Unitary Products Segment, comprising Room Air Conditioners and Commercial Refrigeration, recorded a 29.4% revenue growth to Rs 897.66 crores. The Professional Electronics and Industrial Systems Segment experienced a 51.2% revenue increase to Rs 97.30 crores.
Vir S Advani, Chairman & Managing Director, Blue Star Limited, added, “We continue to see strong demand for Room ACs through the festive season, while a healthy pipeline of Data Centre MEP projects is expected to translate into significant order inflows in the coming months. We are also witnessing a revival in demand across Commercial Air Conditioning and Commercial Refrigeration businesses, providing further impetus to our growth prospects.”
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Blue Star Limited
Blue Star Limited belongs to the Industrials › Building Products & Equipment sector. Here’s a quick read on where the business and the stock stand today.
Blue trades in the lower quarter of its 52-week range. The PEG stands at 6.59 — severely stretched. Any earnings miss could trigger a sharp de-rating. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. The stock gains 4.2% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. Revenue grows at 15.8% and the stock moves sideways over three months. Neither side makes a strong case. The next earnings print will likely break this stock out of its current range. Check Fundamentals of Blue Star Limited.
Airlines
Interglobe Aviation Limited (indigo): Q2 FY27 Earnings Presentation Highlights Revenue Surge and Cost Efficiency
InterGlobe Aviation Limited (INDIGO) Q2 FY27 earnings reveal a 24% revenue increase, 26% RASK drop, and a 20.6% CASK reduction.
InterGlobe Aviation Limited (NSE: INDIGO) showcased significant financial performance in its Q2 FY27 earnings presentation, highlighting a robust revenue surge and impressive cost efficiency. The airline reported a 24% increase in total income to INR 243,119 crore, driven by a 26.4% rise in Revenue Available Seat Kilometers (RASK) and a 20.6% decline in Cost Available Seat Kilometers (CASK) compared to the same period last year.
Revenue and Cost Efficiency
The airline’s strategic focus on cost management was evident as CASK excluding fuel and forex costs dropped by 1.8% to INR 3.77 per Available Seat Kilometer. This efficiency was further reflected in the EBITDAR margin, which surged to 10.5% from 6.0% in Q2 FY26, showcasing the company’s ability to generate earnings before interest, taxes, depreciation, and amortization relative to revenue.
Operational Highlights
INDIGO expanded its network by adding 98 new international destinations through strategic partnerships during the quarter. The airline’s fleet efficiency was also notable, with a fleet size of 442 aircraft as of September 30, 2026, including 3 A321 freighters and 5 B787s. Despite a slight decrease in domestic destinations, the airline maintained a strong load factor of 80.3%.
Looking Ahead
As INDIGO moves forward, the company’s commitment to expanding its global footprint and optimizing operational costs positions it well for continued growth and profitability in the competitive aviation sector.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of InterGlobe Aviation Limited
InterGlobe Aviation Limited belongs to the Industrials › Airlines sector. Here’s a quick read on where the business and the stock stand today.
InterGlobe falls 10.7% over three months and has not found a floor yet. D/E reaches 7.13. High leverage in this environment is a material risk the market cannot ignore. Thin margins at 5.4% leave limited room for error — any demand softness or cost spike hits the bottom line hard. The stock holds at 38% of its 52-week range with RSI at 37. In other words, neither side has a clear edge right now. Revenue grows at 15.6% 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 InterGlobe Aviation Limited.
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