Olectra margin widens as revenue growth outpaces expenses in Q2FY27
Consolidated net profit rose +95.50% QoQ, though other income made up 24.91% of pre-tax profit and the tax rate increased.
Filed 09 Nov 2026, 16:53 IST · after market close · Olectra Greentech Ltd (OLECTRA)
Key takeaways
- Consolidated revenue grew +19.37% QoQ while expenses rose +17.34%, lifting operating margin by 1.50 percentage points.
- Net profit rose +95.50% QoQ, but other income accounted for 24.91% of pre-tax profit and the tax rate increased 5.20 percentage points.
- Olectra's 13.36% operating margin was 1.97 percentage points above the 11.39% median for 290 Consumer Discretionary peers.
Price around the results
Revenue growth outpaced expenses in Q2FY27
Consolidated revenue rose +19.37% QoQ to Rs 687.01 cr, while expenses increased +17.34% to Rs 595.24 cr. Because costs grew more slowly than revenue, operating profit increased +34.50% to Rs 91.77 cr and operating margin expanded by 1.50 percentage points. This was the second consecutive quarter in the available trend, following the 11.86% margin in Q1FY27.
Lower interest costs helped, but other income was material
Interest expense fell -6.53% QoQ, while depreciation increased +3.35%. Other income surged +288.01% and contributed 24.91% of pre-tax profit, making the profit increase less purely operational. The tax rate rose by 5.20 percentage points to 28.34%, limiting the conversion of the higher pre-tax profit into net profit.
Operating margin stayed above the peer median
Olectra's 13.36% operating margin was 1.97 percentage points above the 11.39% median for 290 Consumer Discretionary peers that had reported the quarter. Sequentially, margin improved from 11.86%, extending the available upward movement in operating profitability.
Results were filed after the market close
Olectra filed its consolidated Q2FY27 results after market close on 09 Nov 2026. The next-session stock response is therefore not covered in this quarter's assessment.
Q2FY27 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹687 cr | ₹576 cr | +19.37% |
| Other income | ₹18 cr | ₹5 cr | +288.01% |
| Expenses | ₹595 cr | ₹507 cr | +17.34% |
| Operating profit | ₹92 cr | ₹68 cr | +34.50% |
| Operating margin (%) | 13.36% | 11.86% | — |
| Interest | ₹22 cr | ₹24 cr | -6.53% |
| Depreciation | ₹15 cr | ₹15 cr | +3.35% |
| Profit before tax | ₹73 cr | ₹35 cr | +109.69% |
| Tax | ₹21 cr | ₹8 cr | +156.79% |
| Net profit | ₹52 cr | ₹27 cr | +95.50% |
| EPS (₹) | ₹6.45 | ₹3.16 | +104.11% |
Operating margin of 13.36% compares with a Consumer Discretionary sector median of 11.39% across 290 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 13.36% after its 1.50-percentage-point QoQ improvement.
- Whether other income's 24.91% share of pre-tax profit declines or remains material.
- Whether interest expense stays below Rs 22.05 cr after falling -6.53% QoQ.