ALFA Finder
The call has ended.
Key takeaways
Q2 revenue ₹719 Cr (+72.6% YoY) and H1 PAT ₹76.4 Cr (+103.8%), but H1 operating cash flow was negative ₹45.7 Cr on inventory build. Dealer (B2C) sales fell 19% YoY in Q2 per CFO.
| Management target | Revenue 60.0% |
|---|
| Revenue growth | Q2 +72.6% YoY, +29.6% QoQ; H1 +84.4% YoY. |
|---|---|
| Margins | Q2 gross margin 22.5% (+30bp YoY); H1 down 132bp to 21.2%. |
| Order book | 3-4 months orders in hand; substantial B2G bids, results due in ~month. |
| Demand visibility | Q2 sluggish on rains and metal spikes; H2 recovery hoped, not quantified. |
| Management confidence | Over-optimistic: 40% next-year growth called 'conservative'; hedged on margins. |
Growth
Q2 revenue +72.6% YoY, +29.6% QoQ. B2C dealer sales fell 19% YoY in Q2.
Outlook
FY27 capacity 3.8 lakh km; ₹400 Cr capex; EBITDA 11-12% FY27 guidance; gross margin 21-22%.
Risks
Inventory days 54→70; H1 operating cash outflow ₹45.7 Cr; debt up to ₹359 Cr; UltraVolt price pressure.
Summary by ALFA Finder, written with AI assistance from the earnings call transcript the company filed, published . Open it on ALFA Filings ›
The results behind this call
V-Marc India Q2 FY27 Results: Net Profit ₹47.9 Cr, Up 79.4% YoY
V-Marc India Ltd reported revenue from operations of ₹719.8 Cr (+72.6% YoY) and net profit of ₹47.9 Cr (+79.4% YoY) for Q2 FY27.
- Key figure
- Net profit ₹47.9 Cr · +79.4% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Targeting 40%+ revenue growth in FY27 and EBITDA margin of 11%+; planned ₹5 Bn capex through FY30.
Growth they described
FY26 Revenue: ₹17,973 Mn (+99% YoY); EBITDA: ₹2,008 Mn (+107%); PAT: ₹1,001 Mn (+177%); ROCE expanded to 35%.
Call details
| Company | V Marc India Limited |
|---|---|
| NSE symbol | VMARCIND |
| ISIN | INE0GXK01018 |
| Call | Q2 FY27 earnings call |
| Date | Monday, 9 November 2026 |
| Time | 11:30 AM IST |
V Marc India Limited: key numbers
- Share price
- ₹303.95
- Market cap
- ₹4,454 Cr
- Revenue (annual)
- ₹1,797 Cr
- Net profit (annual)
- ₹100.0 Cr
- P/E (TTM)
- 44.5×Sector 42.6×
- Promoter holding
- 64.87%+0.00% QoQ
- FII holding
- 0.03%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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