Profit before tax came at ₹ 344.0 crore as against ₹ 431.1 crore in corresponding quarter and as against ₹ 493.8 crore in sequential quarter. Net profit after tax came at ₹ 255.0 crore as against net profit of ₹ 321.2 Crore in corresponding quarter and as against ₹ 387.3 crore in the Sequential quarter. Standalone. Earnings per share (EPS) for the quarter ended in September 2026 is ₹ 23.18 as against ₹ 29.19 in corresponding quarter and ₹ 35.20 in sequential quarter.
For the first half ended September 2026 for Standalone continuing operations, Revenue came at ₹ 6,410.3 crore up by 21.9% as against ₹ 5,260.8 crore in corresponding period last year. EBIDTA came at ₹ 647.8 crore as against ₹ 688.2 crore in corresponding period last year. Profit before tax and exceptional items came at ₹ 837.9 crore as against ₹ 849.0 crore in corresponding period last year. Net profit before exceptional items came at ₹ 642.4 crore up by 2.2% as against ₹ 628.7 crore in corresponding period last year. H1FY26 included one-time gains from the divestment of the RED business and the sale of land and building. Consequently, reported H1FY27 PAT is not directly comparable with the previous year. Reported standalone PAT for H1FY27 came at ₹ 642.4 crore, as against ₹ 1,721.4 crore in H1FY26. Earnings per share (EPS) for first half ended in September 2026 is ₹ 58.38 as against ₹ 156.48 in corresponding period last year.
On Consolidated basis, for the quarter ended September 2026, Revenue from Continuing operations came at ₹ 3,243.4 crore up 16.2%, as against ₹ 2,791.6 crore in corresponding quarter and up 1.1% as against ₹ 3,207.6 crore in sequential quarter. Consolidated Net Profit After Tax from continuing operations came at ₹ 250.2 crore as against ₹ 318.1 Crore in corresponding quarter and as against ₹ 385.9 crore in the Sequential quarter.
For the first half ended September 2026 consolidated revenue came at ₹ 6,451.0 crore up by 21.9% as against ₹ 5,291.6 crore in corresponding period last year. EBIDTA came at ₹ 642.5 crore as against ₹ 681.1 crore in corresponding period last year. Profit before tax and exceptional items came at ₹ 830.9 crore as against ₹ 841.2 crore in corresponding period last year. Net profit before exceptional items came at ₹ 636.2 crore up by 2.2% as against ₹ 622.5 crore in corresponding period last year. H1FY26 included one-time gains from the divestment of the RED business and the sale of land and building. Consequently, reported H1FY27 PAT is not directly comparable with the previous year. Reported consolidated PAT for H1FY27 came at ₹ 636.1 crore, as against ₹ 1,715.2 crore in H1FY26. Earnings per share (EPS) for first half ended in September 2026 is ₹ 57.82 as against ₹ 155.92 in corresponding period last year.
Commenting on the results, management said: “Profitability during the quarter was impacted by elevated commodity costs and changes in product mix. While cost pressures remained higher than anticipated, we continue to focus on operational efficiencies and cost optimization initiatives across the business. Assuming a stable commodity environment from Q4 onwards, we expect margins to improve gradually from Q4 and return closer to normal levels in FY28. Our product pipeline and innovation roadmap continue to support our long-term growth ambitions.”
SEGMENT WISE PERFORMANCE
Construction Equipment
For the quarter ended September 2026, Construction Equipment’s sales volume was at 1,764 units up by 53.9% as against 1,146 units in corresponding quarter and up by 31.3% as against 1,344 units in sequential quarter. Segment revenue came at ₹ 536.2 crore up by 58.6% as against ₹ 338.1 crore in corresponding quarter and up by 27.8% as against ₹ 419.6 crore in sequential quarter. EBIT margin for the quarter came at 7.9% up by 411 bps as against 3.8% in corresponding quarter and up by 250 bps as against 5.4% in sequential quarter, mainly benefitting from operating leverage.For the half year ended September 2026, construction equipment volumes came at 3,108 units up by 41.2% as against 2,201 units in corresponding period last year. Segment revenue came at ₹ 955.8 crore up by 49.4% as against ₹ 639.6 crore in corresponding period last year. EBIT margin for the first half ended September 2026 came at 6.8% up by 206 bps as against 4.7% in corresponding period last year.
Agri Machinery Products
For the quarter ended September 2026, Tractors volumes came at 34,017 units up by 0.4% as against 33,877 units in corresponding quarter and down by 7.7% as against 36,862 units in sequential quarter. Segment revenue came at ₹ 2,690.1 crore in quarter ended September 2026 up by 10.6% as against ₹ 2,432.9 crore in corresponding quarter and down by 2.8% as against ₹ 2,766.5 crore in sequential quarter. EBIT margin for the quarter ended September 2026 came at 7.8% as against 12.8% in corresponding quarter and as against 10.8% in sequential quarter. Margins were adversely impacted by commodity cost inflation and product mix.For the half year ended September 2026, Tractors volume came at 70,879 units up by 10.0% as against 64,458 units in corresponding period last year. Segment revenue came at ₹ 5,456.5 crore up by 18.3% as against ₹ 4,614.3 crore in the previous year. The EBIT margin for first half ended September 2026 came at 9.3% as against 12.7% in corresponding period last year.
