Quality Power PAT rises 47% to ₹545 crore in Q1FY27 on strong order inflow
Quality Power Electrical Equipments Limited delivered strong Q1FY27 results with adjusted PAT rising 46.9% to ₹545 million and revenue growing 32.1% to ₹2,564 million. The company secured ₹1,049 million in new orders and advanced its acquisition of Winwin Speciality Insulators Limited.

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Quality Power Electrical Equipments Limited reported an adjusted consolidated net profit of ₹545 million for the quarter ended June 30, 2026, marking a 46.9% year-on-year increase driven by robust demand across its high voltage and power quality portfolios. Total revenue grew 32.1% to ₹2,564 million, while the Board of Directors approved an interim dividend of ₹0.25 per equity share and authorized management to finalize the acquisition of Winwin Speciality Insulators Limited. The results reflect strong operational leverage despite raw material volatility, with an order book of approximately ₹19,455 million providing significant earnings visibility for the remainder of FY27.
The Board meeting held on August 9, 2026, also reviewed the company’s capacity expansion programs and appointed C. M. Shylendra Kumar as Chief Technology Officer with effect from August 17, 2026. The unaudited standalone and consolidated financial results were reviewed by the Audit Committee and limited reviewed by statutory auditors Kishor Gujar & Associates. The reported net profit stood at ₹467 million, lower than the adjusted figure due to a non-cash net monetary loss of ₹78.21 million arising from the application of Ind AS 29 to its Turkish subsidiary, Endoks Enerji Anonim Şirketi.
Financial Performance Highlights
| Particulars (₹ Mn) | Q1FY27 Reported | Q1FY27 Adjusted | Q1FY26 | YoY Change (Adj) |
|---|---|---|---|---|
| Total Revenue | 2,564 | 2,564 | 1,941 | +32.1% |
| EBITDA | 647 | 725 | 484 | +49.8% |
| EBITDA Margin | 25.2% | 28.3% | 24.9% | +340 bps |
| Profit Before Tax | 594 | 672 | 443 | +51.7% |
| Net Profit After Tax | 467 | 545 | 371 | +46.9% |
| Diluted EPS (₹) | 4.66 | 5.44 | 3.12 | +74.4% |
Adjusted EBITDA rose 49.8% to ₹725 million with a margin of 28.3%, compared to ₹484 million at 24.9% in Q1FY26. Gross profit increased 39.9% to ₹1,210 million, reflecting improved product mix. Standalone net profit also surged to ₹245.65 million from ₹108.67 million in the prior year period.
What the Numbers Show
The divergence between reported and adjusted metrics underscores the impact of hyperinflationary accounting on Quality Power’s consolidated results. While reported PAT margins contracted to 18.2% from 19.1% in Q1FY26, adjusted PAT margins expanded to 21.3%, indicating resilient core profitability despite raw material volatility. The 32.1% revenue growth outpaced cost of goods sold growth, which rose 25.8% to ₹1,353 million, demonstrating effective pricing power and operational efficiency. The order book of ₹19,455 million, equivalent to 1.9 times FY2026 revenue, provides significant visibility into future earnings.
Strategic Developments and Order Wins
Quality Power secured disclosed order wins of ₹1,049 million during the quarter. Key wins include:
- ₹483 million for high voltage reactors for a data centre project in the United States.
- ₹409 million for a FACTS system and equipment order secured by Endoks in Japan.
- ₹157 million for 400 kV instrument transformer orders secured by Mehru from Hitachi Energy India Limited.
The Board took on record the confirmatory due diligence report for Winwin Speciality Insulators Limited, noting no adverse findings. Management is now authorized to negotiate and execute the Share Purchase Agreement for 100% equity share capital at an enterprise value of approximately ₹315 crore, aiming to add ceramic insulator manufacturing capability up to 1,200 kV.
Capacity Expansion and Leadership Updates
- Sangli Manufacturing Facility: Machinery installation has commenced, with trial production expected in August 2026 subject to regulatory clearances.
- HVDC CTC Magnet Wire Facility: Partial machinery is ready, with installation scheduled to begin in August 2026.
- Endoks PCS Facility: Civil construction is complete, with interior fit-out in progress; operations are expected in Q3FY27.
C. M. Shylendra Kumar was appointed as Chief Technology Officer with effect from August 17, 2026, bringing over 30 years of experience in HVDC and renewable integration. Additionally, the Board approved the appointment of Pantomath Capital Advisors Pvt Ltd and Motilal Oswal Financial Services Ltd as Merchant Bankers for proposed fund raising through preferential issue or other permissible modes.
Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE0SII01026/30f7491f-a80c-4ad9-acf1-68b6a80d6a75.pdf
Historical Stock Returns for Quality Power Electrical Equipments
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.32% | +9.97% | +30.93% | +65.53% | +84.23% | 0.0% |
How will the acquisition of Winwin Speciality Insulators impact Quality Power's vertical integration strategy and margin structure in the high-voltage segment?
What are the potential risks associated with the application of Ind AS 29 on the Turkish subsidiary, and how might future hyperinflationary trends affect reported earnings visibility?
To what extent will the upcoming capacity expansions in Sangli and the HVDC CTC facility contribute to revenue growth in FY28, and what is the expected timeline for full operational efficiency?


































