Orient Tech. Q2 FY27 Results (NSE: ORIENTTECH)
Signal: Steady quarter
The read
The operating inflection is services-led rather than merely cost-led: consolidated services revenue rose 24.95% QoQ to ₹130.99 crore, EBITDA margin expanded 263bps to 10.20%, and PAT rose 126.66% to ₹11.72 crore, extending the margin expansion seen in Q4FY26 and Q1FY27 into a third consecutive quarter.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹220.06 Cr | N/A | +7.99% |
| EBIT | ₹22.45 Cr | N/A | |
| Net profit | ₹11.72 Cr | N/A | |
| EPS | ₹2.56 | N/A | |
| EBIT margin | 10.20% |
P&L walk
Consolidated total income increased 7.99% QoQ to ₹220.06 crore, while EBITDA rose 45.59% to ₹22.45 crore and margin expanded 263bps to 10.20% as services revenue grew 24.95% QoQ to ₹130.99 crore; PAT increased 126.66% QoQ to ₹11.72 crore and EPS rose 126.55% to ₹2.56.
Segments
The filing does not provide a formal segment table, but the services unit drove the mix shift: services revenue rose 24.95% QoQ to ₹130.99 crore and its mix increased from 51.92% to 59.60%, while products revenue fell to ₹88.78 crore.
Key positives
- Managed-services mix increased to 59.60% from 51.92% QoQ as services revenue rose 24.95% to ₹130.99 crore, supporting consolidated EBITDA margin expansion of 263bps to 10.20%.
- Consolidated EBITDA grew 45.59% QoQ to ₹22.45 crore while total income grew 7.99% to ₹220.06 crore, indicating material improvement in operating conversion.
- The company reported ₹331.61 crore of order book as of September 30, 2026, expected to be billed up to March 31, 2027.
- AWS Managed Service Provider recognition and OHMS 2.0 are positioned to support recurring managed-services revenue, although no quantified revenue contribution was disclosed.
Key concerns
- Products revenue declined 8.55% QoQ to ₹88.78 crore while total income grew 7.99%, increasing reliance on services-led mix improvement.
- The filing provides no year-ago Q2 comparative, so the current 10.20% EBITDA margin and ₹11.72 crore PAT cannot be assessed on a Q2 YoY basis from this release.
- The order book declined from the previously cited ₹375.43 crore at June 30, 2026 to ₹331.61 crore at September 30, 2026, although the company now specifies billing through March 31, 2027.
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