Urja Global revenue rises as costs outpace sales
Revenue grew +43.62% QoQ, but operating margin slipped to 3.75%, well below the 11.5% Industrials peer median.
Filed 05 Nov 2026, 17:15 IST · after market close · Urja Global Ltd (URJA)
Key takeaways
- Consolidated revenue rose +43.62% QoQ to Rs 20.05 cr, but expenses grew faster at +43.92%.
- Operating margin narrowed 0.23 percentage points to 3.75% as costs outpaced revenue growth.
- The nil tax rate supported net profit of Rs 0.62 cr, while other income accounted for 16.13% of pre-tax profit.
Price around the results
Revenue momentum did not fully reach profit
Urja Global reported consolidated revenue of Rs 20.05 cr in Q2FY27, up +43.62% QoQ. Operating profit rose +33.93% to Rs 0.75 cr, lagging revenue growth because expenses increased +43.92% to Rs 19.30 cr. Profit before tax increased +44.19% to Rs 0.62 cr.
Cost growth clipped the operating margin
Interest and depreciation were unchanged QoQ at Rs 0.12 cr and Rs 0.11 cr, so the margin pressure came primarily from operating costs. Other income contributed 16.13% of pre-tax profit, and the 0.0% tax rate meant net profit matched pre-tax profit.
Margin remains below most Industrials peers
Operating margin improved from 2.68% in Q4FY26 to 3.98% in Q1FY27 before slipping to 3.75% in Q2FY27, ending the recent improvement trend. Among 178 Industrials companies that had reported the quarter, Urja Global's margin was 7.75 percentage points below the 11.5% median and ranked 16th from the bottom.
Results were filed after market close
The consolidated results were filed at 17:15 IST on 05 Nov 2026, after market close. No market reaction was available at the time of this report.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹20 cr | ₹14 cr | +43.62% |
| Other income | ₹0 cr | ₹0 cr | -9.09% |
| Expenses | ₹19 cr | ₹13 cr | +43.92% |
| Operating profit | ₹1 cr | ₹1 cr | +33.93% |
| Operating margin (%) | 3.75% | 3.98% | — |
| Interest | ₹0 cr | ₹0 cr | +0.00% |
| Depreciation | ₹0 cr | ₹0 cr | +0.00% |
| Profit before tax | ₹1 cr | ₹0 cr | +44.19% |
| Tax | ₹0 cr | ₹0 cr | — |
| Net profit | ₹1 cr | ₹0 cr | +44.19% |
| EPS (₹) | ₹0.02 | ₹0.00 | — |
Operating margin of 3.75% compares with a Industrials sector median of 11.50% across 178 peers that have reported Q2FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | -1.39% | -3.40% |
Volume on the results session was 0.93× its 20-day average.
What to watch
- Whether operating margin recovers from 3.75% in the next quarter.
- Whether expense growth moderates from +43.92% QoQ.
- Whether other income remains a material contributor after accounting for 16.13% of pre-tax profit.