Faster cost growth cuts Vidya Wires’ operating margin to 3.50%
Revenue rose 5.68% QoQ, but interest expense jumped 194.12%; other income contributed 18.02% of pre-tax profit.
Filed 04 Nov 2026, 16:37 IST · after market close · Vidya Wires Ltd (VIDYAWIRES)
Key takeaways
- Revenue grew 5.68% QoQ, but expenses grew faster at 6.26%, pulling operating margin down 0.53 percentage points to 3.50%.
- Net profit fell 13.30% QoQ as interest expense rose 194.12% and profit before tax declined 12.74%.
- Operating margin at 3.50% was 8.74 percentage points below the Industrials median across 143 reported peers.
Price around the results
Revenue grew, but operating profit declined
In consolidated Q2FY27 results, revenue increased 5.68% QoQ to Rs 580.94 cr, while operating profit fell 8.22% to Rs 20.32 cr. The mismatch pushed net profit down 13.30% to Rs 14.86 cr, with EPS declining 13.58% to Rs 0.70.
Costs and interest squeezed margins
Expenses grew 6.26% QoQ, faster than revenue, narrowing operating margin by 0.53 percentage points to 3.50%. Interest expense rose 194.12% to Rs 2.50 cr, contributing to a 12.74% decline in pre-tax profit. Other income accounted for 18.02% of pre-tax profit, while the tax rate increased 0.47 percentage points to 26.46%.
Margin trailed 143 Industrials peers
Vidya Wires’ 3.50% operating margin was 8.74 percentage points below the 12.24% median for the 143 Industrials peers that had reported the quarter, placing it 10th from the bottom. The filing came after market close on 04 Nov 2026, so the immediate trading response falls outside this update.
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 | ₹581 cr | ₹550 cr | +5.68% |
| Other income | ₹4 cr | ₹3 cr | +17.80% |
| Expenses | ₹561 cr | ₹528 cr | +6.26% |
| Operating profit | ₹20 cr | ₹22 cr | -8.22% |
| Operating margin (%) | 3.50% | 4.03% | — |
| Interest | ₹3 cr | ₹1 cr | +194.12% |
| Depreciation | ₹1 cr | ₹1 cr | +2.46% |
| Profit before tax | ₹20 cr | ₹23 cr | -12.74% |
| Tax | ₹5 cr | ₹6 cr | -11.13% |
| Net profit | ₹15 cr | ₹17 cr | -13.30% |
| EPS (₹) | ₹0.70 | ₹0.81 | -13.58% |
Operating margin of 3.50% compares with a Industrials sector median of 12.24% across 143 peers that have reported Q2FY27.
What to watch
- Whether expenses growth moderates from 6.26% QoQ relative to revenue growth of 5.68%.
- Whether operating margin recovers from 3.50% toward Q1FY27’s 4.03%.
- Whether interest expense retreats from Rs 2.50 cr after rising 194.12% QoQ.