Bharat Bijlee Q2 results landed on Tuesday, October 27, and the market liked what it saw. The Mumbai-based maker of transformers and electric motors reported a standalone net profit of ₹46.04 crore for the September quarter, up 63.1% from ₹28.23 crore a year ago, according to the company’s unaudited results. The shares rose as much as 17.9% to an intraday high of ₹2,659.9, CNBC-TV18 reported, calling it the stock’s biggest single-day gain since May 21, 2024.
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Bharat Bijlee Q2 results: the key numbers
Revenue from operations came in at ₹736.16 crore, against ₹473.44 crore in the September 2025 quarter. That’s a 55.5% year-on-year rise. Sequentially the jump is also sharp: the June quarter’s revenue was ₹547.17 crore, so the business grew 34.5% in three months.
- Profit before tax: ₹61.00 crore, up 62.8% from ₹37.47 crore.
- Net profit: ₹46.04 crore, up 63.1% year-on-year and more than double the ₹19.63 crore of the June quarter.
- Earnings per share: ₹40.73 for the quarter, against ₹24.98 a year earlier (face value ₹5).
- EBITDA: about ₹59 crore versus ₹34 crore, with the margin at 8% against 7.3%, as per CNBC-TV18’s calculation.
Power systems did the heavy lifting
The company reports two segments. Power systems, which covers transformers, substation turnkey projects and maintenance products, brought in ₹440.11 crore, up 69.4% from ₹259.76 crore. It now makes up 59.8% of revenue. Industrial systems, the motors, drives and automation side, grew 38.5% to ₹296.05 crore from ₹213.68 crore.
Here’s the interesting bit. The faster-growing segment actually got less profitable per rupee of sales. Power systems’ segment result (profit before finance costs, unallocable expenses and tax) was ₹49.18 crore, or 11.2% of its revenue, down from 14.6% a year ago. Industrial systems went the other way: its segment result more than doubled to ₹30.00 crore from ₹13.90 crore, taking its margin to 10.1% from 6.5%. So the margin story this quarter is really a motors story, while transformers delivered the volume.
One line to watch is finance costs, which rose to ₹7.87 crore from ₹3.72 crore, roughly 2.1 times the year-ago figure.
The half-year picture is calmer
Zoom out to the first half of FY27 and growth looks less dramatic. Six-month revenue rose 36.8% to ₹1,283.33 crore, while net profit was up 17.0% at ₹65.67 crore against ₹56.11 crore. A weak June quarter, when profit was just ₹19.63 crore, explains the gap. That matters because one strong quarter in a project-heavy business can reflect the timing of deliveries as much as a change in the trend.
What it means for investors
The rally tells us the street had not priced in this kind of top-line growth. Even after Tuesday’s move, CNBC-TV18 noted the stock remained 22.9% below its 52-week high of ₹3,270. We’d keep an eye on two things in the coming quarters: whether power systems margins recover towards last year’s levels, and whether the higher finance cost keeps climbing. The NSE filing has the full statement for anyone who wants to dig in.
For other industrial names that reported the same day, see our take on Kirloskar Brothers’ Q2 results, and the Q2 results calendar for this week shows who reports next. If segment numbers like these feel dense, our guide on how to analyse quarterly results of a company walks through them.
Disclaimer: This article is for information and education only and is not investment advice. Figures are taken from the company’s filing and media reports linked above. Please do your own research or consult a SEBI-registered adviser before investing.
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