Quality Power Q1 FY27 Results: Revenue Rises 32.1% YoY to ₹256.4 Crore and PAT Jumps 47.2% YoY to ₹54.5 Crore

Quality Power Electrical Equipments Limited reported a robust financial performance for the first quarter of FY27, with strong growth across revenue, profitability, and order inflows. The company announced its consolidated results for the quarter ended June 30, 2026, highlighting continued momentum in power transmission and energy transition equipment.

The company’s total revenue increased 32.1% year-on-year to ₹256.4 crore in Q1 FY27, compared to ₹194.1 crore in Q1 FY26. However, on a sequential basis, revenue declined from ₹309.8 crore reported in Q4 FY26, reflecting typical execution timing variations.

Cost of goods sold rose to ₹135.3 crore from ₹107.6 crore YoY, while gross profit increased 39.9% YoY to ₹121.0 crore, with gross margin improving to 47.2% from 44.6% in the year-ago quarter.

Adjusted EBITDA stood at ₹72.5 crore, registering a 49.8% YoY growth from ₹48.4 crore. EBITDA margin improved sharply to 28.3% compared to 24.9% in Q1 FY26 and 19.1% in Q4 FY26, supported by operating leverage and a favourable product mix. Reported EBITDA came in at ₹64.7 crore.

Profit before tax (PBT) increased 51.7% YoY to ₹67.2 crore on an adjusted basis, compared to ₹44.3 crore in the same period last year. On a reported basis, PBT stood at ₹59.4 crore versus ₹53.5 crore in Q4 FY26.

Adjusted profit after tax (PAT) rose 47.2% YoY to ₹54.5 crore, up from ₹37.1 crore in Q1 FY26. Reported PAT stood at ₹46.7 crore compared to ₹50.6 crore in Q4 FY26. PAT margin improved to 21.3% on an adjusted basis versus 19.1% YoY.

Diluted earnings per share (EPS) increased significantly to ₹5.44 on an adjusted basis from ₹3.12 in Q1 FY26, reflecting a 74.4% YoY growth. Reported EPS stood at ₹4.66 compared to ₹4.38 in the previous quarter.

The company reported a consolidated order book of ₹1,945.5 crore as of June 30, 2026, compared to ₹1,945.5 crore equivalent disclosed earlier, representing approximately 1.9 times its FY26 consolidated revenue. The order book includes ₹801.0 crore from Endoks, ₹585.0 crore from Mehru, ₹553.0 crore from Quality Power, and ₹6.5 crore from other segments.

During the quarter, the company secured orders worth ₹104.9 crore, including ₹48.3 crore for high-voltage reactors for a data centre project in the United States, ₹40.9 crore for FACTS systems and equipment orders in Japan, and ₹15.7 crore for 400 kV instrument transformers from Indian customers including orders linked to Hitachi Energy India.

Operational expansion remained on track with the Sangli manufacturing facility nearing completion, with trial production targeted in August 2026. The HVDC current transformer core (CTC) magnet wire facility is also progressing, with machinery installation scheduled to begin in August 2026. Additionally, the Turkey-based subsidiary Endoks is advancing its expansion, with new manufacturing infrastructure expected to support operations from Q3 FY27.

A key strategic development includes the proposed acquisition of 100% equity stake in Wivin Specialty Insulators Limited at an enterprise value of approximately ₹315 crore, aimed at expanding capabilities in ceramic insulators and strengthening the high-voltage product portfolio.

The company also declared an interim dividend of ₹0.25 per equity share for FY27.

Management noted that global demand remains strong, driven by investments in grid modernisation, renewable integration, energy storage, and hyperscale data centre infrastructure. However, raw material volatility, particularly in copper, steel, and specialised insulation materials, continues to pose challenges.

Looking ahead, Quality Power expects sustained growth supported by a strong tender pipeline across North America, Europe, the Middle East, and Asia-Pacific, along with increasing demand for HVDC systems, FACTS solutions, and grid stability technologies.