Industrials
V-guard Industries Q1 FY27: Strong Performance with Double-digit Growth Across Segments
V-Guard Industries Limited (VGUARD) reports strong Q1 FY27 results with 23.5% YoY revenue growth and a 76.4% increase in PAT.
V-Guard Industries Limited (VGUARD) has commenced FY27 by delivering a strong performance in the first quarter, with all segments reporting double-digit growth. Despite challenges posed by the West Asia War, the company delivered robust results while sustaining healthy margins driven by the inherent resilience of the business, proactive actions, and a supportive summer season.
Financial Highlights
Consolidated Net Revenue from operations for the quarter ended June 30, 2026, stood at ₹1,810.65 crore, representing a year-on-year growth of 23.5%. With all the segments delivering strong growth, Electronics & Consumer Durables saw improved demand on the back of a supportive summer. Electricals segment continued to deliver high growth supported by price inflation. Gross margins remained resilient despite input cost inflation during the quarter, supported by our continued monitoring and taking proactive pricing actions. Margins were further aided by our long-term focus on product mix, cost optimization, and higher share of in-house manufacturing.
Segment-wise Performance
The Electronics segment, including Stabilizers, UPS, and Inverters, and the Electricals segment, including Wires, Pumps, Switchgears, Modular Switches, and Lighting, both contributed significantly to the overall growth. The Consumer Durables segment also performed well, driven by demand for Fans, Water Heaters, and Kitchen appliances. With the functional integration of the Sunflame business being largely done and under stabilization, we have shifted our focus on accelerating growth for the business.
V-Guard Industries Limited will continue to monitor the geo-political situation and will take appropriate actions necessary to protect supplies and margins. We are hopeful that the growth momentum will sustain in the upcoming quarters.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of V-Guard Industries Limited
V-Guard Industries Limited belongs to the Industrials › Electrical Equipment & Parts sector. Here’s a quick read on where the business and the stock stand today.
V-Guard falls 8.6% over three months and has not found a floor yet. Thin margins at 5.2% leave limited room for error — any demand softness or cost spike hits the bottom line hard. The PEG of 2.44 is on the high side. However, it is acceptable for a quality compounder with a strong moat. The stock sits at 12% 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 13.1% and profits at 17.7% CAGR, with D/E of 0.00. Meanwhile, the stock dips 8.6% in three months without any fundamental deterioration. Consequently, the stock quietly becomes cheaper relative to earnings power. For long-term investors, that is a feature. Check Fundamentals of V-Guard Industries Limited.
GREAVESCOT
Greaves Cotton Limited Q2fy27: Revenue Up 44% Yoy, Ebitda Surges 43%
Greaves Cotton Limited (NSE: GREAVESCOT) reports consolidated revenue of ₹1,176 crore in Q2 FY27, up 44% YoY, driven by strong growth across its core and inv.
Greaves Cotton Limited (NSE: GREAVESCOT) one of India’s leading diversified engineering companies, announced its unaudited financial results for the quarter ended September 30, 2026. Consolidated revenue for Q2 FY27 stood at ₹1,176 crore, up 44% YoY. EBITDA increased to ₹73 crore in Q2 FY27 up by 43% YoY from ₹51 crore in Q2 FY26, while Business PBT for Q2 FY27 stood at ₹44 crore.
Strong Performance Across Core and Investee Businesses
Consolidated revenue grew 44% YoY in Q2 FY27 and 38% YoY in H1 FY27, driven by strong performance across both Core and Investee Businesses. Greaves Cotton’s Core Businesses recorded 24% YoY growth in Q2 FY27 and 20% growth in H1 FY27, reflecting continued momentum across Energy Solutions, Mobility Solutions and Industrial Solutions.
GEML’s Remarkable Growth
GEML consolidated revenue of ₹410 crore in Q2 FY27 (H1 FY27: ₹680 crore) registering 106% YoY growth in Q2 FY27 and 103% YoY growth in H1 FY27. The Company launched new products and variants across the Electric mobility (Ampere Nexus EX+ and Magnus G-Max) and Core Businesses (750 HP firefighting engine, 470 cc diesel engine for 3W applications).
Parag Satpute, MD & Group CEO, Greaves Cotton Limited, said: “Our Q2 FY27 performance reflects disciplined execution across our diversified portfolio, with strong growth across our Core Businesses and continued progress on the priorities under GREAVES.NEXT. Our diversified portfolio enabled us to deliver robust revenue growth while advancing key strategic initiatives across Energy Solutions, Mobility Solutions and Industrial Solutions.”
As we enter the second half of FY27, our priorities remain clear: sustaining growth, strengthening operating and financial performance, expanding our international footprint and building higher-value customer solutions. With a strong engineering foundation, a diversified business portfolio and disciplined execution, we remain committed to creating sustainable long-term value for our shareholders and all stakeholders.
Source: NSE Corporate Announcement
Fundamental & Technical Analysis of Greaves Cotton Limited
Greaves Cotton Limited belongs to the Industrials › Specialty Industrial Machinery sector. Here’s a quick read on where the business and the stock stand today.
Greaves falls 18.1% over three months and has not found a floor yet. The PEG stands at 4.32 — 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 10.1% in the last month, recovering from the three-month slide. However, it is too early to call this a confirmed reversal. The stock rises -18.1% in three months on 8.6% 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 Greaves Cotton 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.
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