Avonmore Capital Q2 FY27 Results (NSE: AVONMORE)
Signal: Earnings grew
The read
The trajectory is shifting toward infrastructure and green fuel: consolidated revenue rose 19.8% YoY to ₹44.36 crore and profit rose 81.0% to ₹10.84 crore, but the core financial-services vertical saw profit fall 22.7% to ₹2.21 crore because of weaker mark-to-market gains. The H1 order intake of ₹154 crore and total order book above ₹400 crore provide the strongest forward visibility, subject to execution and the Odisha plant receiving OMC allocation.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹44.36 Cr | +19.8% | N/A |
| Net profit | ₹10.84 Cr | +81.0% |
P&L walk
Consolidated revenue was ₹44.36 crore, up 19.8% YoY, while profit reached ₹10.84 crore, up 81.0%; the disclosed momentum came from infrastructure consulting and the PGIPL green-fuel JV, partly offset by weaker financial-services earnings.
Segments
Infrastructure consulting was the clearest consolidated driver, with revenue rising to ₹32.94 crore from ₹25.89 crore and profit to ₹2.90 crore from ₹2.42 crore; PGIPL also reported profit of ₹12.59 crore versus ₹3.66 crore, while financial-services profit fell to ₹2.21 crore from ₹2.86 crore and NBFC profit to ₹1.18 crore from ₹1.39 crore.
Key positives
- Consolidated profit rose to ₹10.84 crore from ₹5.99 crore, an 81.0% YoY increase, while revenue rose to ₹44.36 crore from ₹37.04 crore.
- AGICL secured ₹154 crore of H1 FY27 orders versus ₹72 crore in H1 FY26, a reported 214% increase, taking the total order book above ₹400 crore.
- Infrastructure consulting revenue rose 27.2% YoY to ₹32.94 crore and profit rose 19.8% to ₹2.90 crore, with higher DPR-project revenue cited as the driver.
- PGIPL revenue rose to ₹202.24 crore from ₹129.90 crore and profit to ₹12.59 crore from ₹3.66 crore; its Himachal plant is operating at full capacity.
Key concerns
- Financial-services profit declined 22.7% YoY to ₹2.21 crore despite revenue rising 10.5% to ₹9.93 crore, due to lower mark-to-market gains on the investment portfolio.
- NBFC revenue fell 39.2% YoY to ₹1.24 crore and profit fell 15.1% to ₹1.18 crore.
- The Odisha plant had not commenced full-scale commercial production because the OMC procurement agreement was awaited; the expected Q3 ramp therefore remains dependent on tender allocation.
- The disclosed PGIPL figures are JV-level revenue of ₹202.24 crore and profit of ₹12.59 crore, while consolidated company revenue is ₹44.36 crore; the press release does not provide the consolidation or share-of-profit bridge.
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