Orient Green Power posts 79.06% operating margin in Q2FY27
The consolidated result shows near-total profit-before-tax conversion, helped by a 0.01% tax rate, while operating margin stood well above the sector median.
Filed 11 Nov 2026, 12:29 IST · Orient Green Power Company Ltd (GREENPOWER)
Key takeaways
- Consolidated operating margin reached 79.06%, supported by a low expense base relative to revenue.
- Net profit of Rs 81.57 cr benefited from a near-zero 0.01% tax rate.
- The stock fell 2.22% on 4.36x its usual volume after the results.
Price around the results
Low operating costs drove the 79.06% margin
The consolidated result shows expenses of Rs 30.02 cr against revenue of Rs 143.33 cr, leaving a wide operating spread and a 79.06% margin. Other income was Rs 4.79 cr against profit before tax of Rs 81.58 cr, so operating earnings were the main contributor. The 0.01% tax rate further lifted the conversion of pre-tax profit into net profit.
Margin was 52.53 points above the Utilities median
Among 28 Utilities peers that had reported the quarter, Orient Green's 79.06% operating margin was 52.53 percentage points above the sector median of 26.53%. This places the company near the higher end of the reported peer set, though the quarter has no year-on-year or sequential comparison in the results record.
Shares fell 2.22% after the filing
The stock declined 2.22% on the results date, with a 0.11% opening gap and volume at 4.36 times its usual level. Its move was 3.06% below the broader market on a relative basis.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 |
|---|---|
| Revenue | ₹143 cr |
| Other income | ₹5 cr |
| Expenses | ₹30 cr |
| Operating profit | ₹113 cr |
| Operating margin (%) | 79.06% |
| Interest | ₹13 cr |
| Depreciation | ₹23 cr |
| Profit before tax | ₹82 cr |
| Tax | ₹0 cr |
| Net profit | ₹82 cr |
| EPS (₹) | ₹0.69 |
Operating margin of 79.06% compares with a Utilities sector median of 26.53% across 28 peers that have reported Q2FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | -2.22% | -3.06% |
Volume on the results session was 4.36× its 20-day average.
What to watch
- Whether operating margin remains near 79.06% in the next quarter.
- Whether the tax rate rises from 0.01% and changes profit conversion.
- Whether revenue holds above Rs 143.33 cr.