The call ran from 3:58 PM to 4:54 PM IST (57 min).

Key takeaways

H1 revenue rose 62%, but Q2 EBITDA margin fell to 7.83% and PAT dropped 27%. FY27 margin guidance was cut to about 11%, while management leans on a ₹500 Cr FY27 revenue target that needs a steep H2 ramp.

Guidance and delivery
Management target	Revenue 25.0% FY28

Highlights
Revenue growth	H1 revenue +62% YoY to ₹196 Cr; Q2 +82% YoY to ₹120 Cr.
Margins	EBITDA 7.83% Q2, 8.06% H1; FY27 guided above 11%, earlier 13-14%.
Order book	₹1,121 Cr across 97 projects; ~78% government, mainly ₹854 Cr developer.
Demand visibility	Storage and data-centre demand strong; BESS pipeline growing, government tenders selective.
Management confidence	Over-optimistic: margin shortfall hedged, FY28 25% growth called 'minimum'.

Growth

Q2 revenue ₹120 Cr (+82% YoY) came with EBITDA down 17% and PAT down 27%. H1 revenue ₹196 Cr (+62%), with H1 EBITDA up only 5%.

Outlook

FY27 revenue ~₹500 Cr; FY27 EBITDA margin ~11%+. FY28 revenue growth minimum 25%; FY28 PAT margin 8.5-9%.

Risks

Operating cash flow is still negative and working capital cycle is 192 days. Debt will rise, and developer-project margins are at risk from the planned downsell.

Last quarter's promises, checked

Delivered

Min 25% FY27 growth → H1 +62% (= BEAT)
Jhajjar BESS live end-H1 → commissioned (= BEAT)
Gujarat UPS Q2 FY27 → commissioned (= BEAT)

Partly delivered

OCF positive by FY27-end → Q1 -₹16 Cr, still negative (= PARTIAL)
Karnataka developer sell-off as first priority → two projects in downsell talks (= PARTIAL)

Missed

FY27 EBITDA 12-13% → H1 8.06%, now ~11% (= MISS)
WC 120-150 days by Mar-27 → 192 days (= MISS)
FY27 PAT 8.5-9% → Q1 6.05%; range now shifted to FY28 (= MISS)

Summary by ALFA Finder, written with AI assistance from the earnings call transcript the company filed, published 12 Nov 2026, 6:26 PM IST. Open it on ALFA Filings ›

The results behind this call

7 Nov 2026 16:49 IST BSE

Financial Results

Prostarm Info Systems Q2 FY27 Results: Net Profit ₹6.1 Cr, Down 26.5% YoY

Prostarm Info Systems Ltd reported revenue from operations of ₹120 Cr (+82.1% YoY) and net profit of ₹6.1 Cr (-26.5% YoY) for Q2 FY27.

Key figure: Net profit ₹6.1 Cr · -26.5% YoY

Open full results → Read the filing ↗

What management said last time

Full summary →

From the call summary published 13 Aug 2026.

Outlook they gave

Targeting 25% minimum revenue growth for FY27 and 12-13% EBITDA margins as H2 typically scales higher.

Growth they described

Revenue grew 38% YoY to ₹77 Cr; EBITDA margins improved 126 bps to 8.55% driven by operating leverage.

Call details

Company	Prostarm Info Systems Limited
NSE symbol	PROSTARM
ISIN	INE0BX301013
Call	Q2 FY27 earnings call
Date	Thursday, 12 November 2026
Time	4:00 PM IST
Length	57 min