Trishakti Indus Q2 FY27 Results (BSE: 531279)
Signal: Margin expansion
The read
The trajectory remains one of rapid fleet-led scaling: Q2 revenue reached ₹1,550.53 lakh, up 133.14% YoY, and EBITDA margin improved 192bps to 60.89% after the prior H1 margin decline of 183bps. However, EBITDA growth of 140.74% exceeded revenue growth by only 7.60 percentage points, so the filing supports margin recovery rather than a qualifying operating-leverage signal.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹15.51 Cr | 133.14% | N/A |
| Net profit | ₹5.19 Cr | 223.05% | |
| EPS | ₹3.1 | 216.33% | |
| EBIT margin | 60.89% |
P&L walk
Standalone revenue rose 133.14% YoY to ₹1,550.53 lakh and EBITDA rose 140.74% to ₹944.08 lakh, taking EBITDA margin up 192bps to 60.89%; PAT increased 223.05% to ₹518.92 lakh, while EBITDA growth exceeded revenue growth by only 7.60 percentage points and therefore does not meet the operating-leverage threshold.
Key positives
- Revenue from operations increased 133.14% YoY to ₹1,550.53 lakh, supported by fleet expansion, high utilisation and demand across infrastructure and renewable sectors.
- EBITDA rose 140.74% YoY to ₹944.08 lakh and EBITDA margin expanded 192bps to 60.89%.
- PAT increased 223.05% YoY to ₹518.92 lakh, with PAT margin improving 364bps to 27.65%.
- The company states that over 90% of its 340,000 lakh capex programme has been completed, with approximately 37,000 lakh deployed inclusive of GST.
Key concerns
- EBITDA growth of 140.74% exceeded revenue growth of 133.14% by only 7.60 percentage points, below the threshold for a robust operating-leverage conclusion.
- H1FY27 EBITDA margin was 59.88%, down 183bps YoY from 61.71%, despite Q2 margin improving 192bps YoY to 60.89%; quarterly recovery still needs confirmation.
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