ALFA Finder
The call ran from 2:01 PM to 2:56 PM IST (55 min).
Key takeaways
Q2 FY27 revenue ₹209 Cr (+27% YoY), EBITDA margin 13.4%, PAT ₹13 Cr (+18%). Management hedges on geopolitics, block-2 timing and depreciation; segment figures are thin.
| Revenue growth | +27% YoY, +23% QoQ in Q2; H1 +33%. Partly transfer-driven. |
|---|---|
| Margins | EBITDA margin 13.4%, +220bps YoY, stable QoQ; 16-18% steady state targeted. |
| Demand visibility | Middle East exports up 70-80% QoQ; ODM home lighting flat QoQ. |
| Management confidence | Over-optimistic: 'much better than planned', hedged with geopolitical caveats. |
Growth
Revenue +27% YoY, +23% QoQ; H1 +33%. Block 2 added ~₹20-22 Cr in Q2, but intra-group transfer muddies segment growth.
Outlook
16-18% consolidated EBITDA margin steady state in ~1.5 years; block 3 completion by Q3 FY27 at 100,000+ sq ft.
Risks
Gulf tensions and duty changes; block 2 ramp slipped to Q3; ODM home lighting flat QoQ; depreciation and utilisation questions left unanswered.
Last quarter's promises, checked
Delivered
- FY27 revenue growth 18–20% → H1 +33% (= BEAT; FY not closed)
- Consol. EBITDA margin 13–14% → 13.4% in Q2 (= BEAT)
- Block 2 partly live in Q2 → ~₹20–22 Cr added (= BEAT)
Partly delivered
- Home lighting ODM ~₹170 Cr FY (±₹10–15 Cr) → Q2 flat QoQ (= PARTIAL)
- Input-cost pressure to normalise → margin flat QoQ at 13.4% (= PARTIAL)
Missed
- Block 2 ramp in Q2 → slipped to Q3 (= MISS)
- Tower-2 depreciation from Q2 → figure deferred, unanswered (= MISS)
- Steady-state margin 17–18% feasible → now 16–18% (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
IKIO Technologies Q2 FY27 Results: Net Profit ₹12.9 Cr, Up 18.3% YoY
IKIO Technologies Ltd reported revenue from operations of ₹208.7 Cr (+27.1% YoY) and net profit of ₹12.9 Cr (+18.3% YoY) for Q2 FY27.
- Key figure
- Net profit ₹12.9 Cr · +18.3% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
EBITDA margin target of 17-18% at peak utilization; ₹20-25 Cr CAPEX for FY27; ₹20 Cr pending for Tower-3.
Growth they described
Revenue grew 41% YoY to ₹169 Cr. EBITDA surged 94% YoY to ₹22 Cr, with PAT increasing to ₹11 Cr.
Call details
| Company | IKIO Technologies Ltd |
|---|---|
| NSE symbol | IKIO |
| ISIN | INE0LOJ01019 |
| Call | Q2 FY27 earnings call |
| Date | Friday, 6 November 2026 |
| Time | 2:00 PM IST |
| Length | 55 min |
| Audio | Our stream on YouTube ↗ |
IKIO Technologies Ltd: key numbers
- Share price
- ₹201.17
- Market cap
- ₹1,555 Cr
- Revenue (annual)
- ₹595.3 Cr
- Net profit (annual)
- ₹37.83 Cr
- P/E (TTM)
- 32.1×Sector 43.9×
- Promoter holding
- 72.55%+0.00% QoQ
- FII holding
- 0.61%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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