Spectrum Electrical Industries Reports Robust Q2 Performance with 35% Revenue Surge

Spectrum Electrical Industries Limited has delivered a strong financial performance for the second quarter of the fiscal year, showcasing significant growth across key metrics.

Financial Highlights

Metric	Q2 FY2026	Q2 FY2025	YoY Change
Revenue	₹1.18 billion	₹872.00 million	+35.00%
Net Profit	₹77.00 million	₹72.00 million	+6.90%
EBITDA	₹152.00 million	₹82.00 million	+85.40%
EBITDA Margin	12.93%	9.41%	+352 bps

The company's consolidated revenue surged by 35% year-over-year to ₹1.18 billion, up from ₹872.00 million in the same quarter of the previous fiscal year. This substantial top-line growth demonstrates the company's strong market position and effective business strategies.

Spectrum Electrical Industries' profitability also showed improvement, with the consolidated net profit rising to ₹77.00 million from ₹72.00 million in the corresponding quarter last year, representing a 6.90% increase.

Operational Performance

The company's operational efficiency saw a marked improvement, as evidenced by the near-doubling of its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). EBITDA for Q2 FY2026 stood at ₹152.00 million, up from ₹82.00 million in Q2 FY2025, reflecting an impressive growth of 85.40%.

The EBITDA margin expanded significantly to 12.93% from 9.41% year-over-year, indicating enhanced operational efficiency and cost management. This 352 basis points improvement in EBITDA margin underscores the company's ability to scale operations while maintaining profitability.

Corporate Governance Update

In a separate announcement, Spectrum Electrical Industries informed that its Board of Directors, at a meeting held on November 14, 2025, approved the reappointment of Mr. Kishor Dalu Dhake (DIN: 03109754) as a Non-Executive Independent Director for a second term of five years, effective from November 6, 2025. This reappointment is subject to shareholder approval through a postal ballot.

Mr. Dhake, who holds B.Sc. Tech degrees in Electronics and Industrial Electronics from Pune and Mumbai Universities respectively, brings over 32 years of experience in manufacturing electrical and electronic products. His expertise is expected to contribute significantly to the company's business strategy formulation.

The company has also appointed Mrs. Yuti Nagarkar, a Practicing Company Secretary, as the Scrutinizer for conducting the E-voting process for the postal ballot in a transparent manner.

These corporate actions reflect Spectrum Electrical Industries' commitment to maintaining strong governance practices and leveraging experienced leadership to drive future growth.

As Spectrum Electrical Industries continues to demonstrate robust financial performance and strategic governance moves, it remains well-positioned in the electrical and electronics manufacturing sector.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-11.58%	-25.68%	-11.74%	-31.08%	-33.03%	+1,821.17%

Spectrum Electrical Industries Limited has reported a delay in the utilization of funds raised through its Qualified Institutional Placement (QIP) conducted in the financial year 2023-24. The company, which raised Rs. 36.55 crores through the QIP, has faced unexpected challenges in deploying the capital for its intended purposes.

QIP Fund Allocation and Utilization

The company's fund allocation and utilization as of June 30, 2025, is summarized in the following table:

Purpose	Original Allocation (Rs. in Lakhs)	Utilized (Rs. in Lakhs)	Pending Utilization (Rs. in Lakhs)
Capital Expenditure	1,375.00	479.69	895.31
Working Capital Requirements	2,214.00	2,214.00	0.00
General Corporate Purpose	50.00	50.00	0.00
Issue Expenses	15.59	15.59	0.00
Total	3,654.59	2,759.28	895.31

Reason for Delay

The primary cause of the delay has been attributed to an extended approval process with the Town Planning Department for the construction of a factory building. The proposed building, with a total built-up area of 2,64,548 square feet, encountered regulatory confusion due to its size exceeding 2 lakh square feet.

This situation led to:

Multiple clarifications and inter-departmental reviews
An 8-10 month delay in obtaining final building plan approval

Current Status and Fund Management

Spectrum Electrical Industries has now received all necessary approvals, and construction work is underway. The company has reported that:

Rs. 27.59 crores of the raised funds have been utilized
Rs. 8.95 crores remain pending utilization
Unutilized funds are temporarily invested in fixed deposits with scheduled commercial banks

The company has assured stakeholders that it continues to adhere to all applicable reporting and disclosure requirements regarding the utilization of issue proceeds.

Implications and Outlook

While the delay in fund utilization may impact the company's immediate growth plans, the resolution of regulatory hurdles suggests that Spectrum Electrical Industries is now positioned to proceed with its expansion strategy. Investors and stakeholders will likely be watching closely to see how quickly the company can deploy the remaining funds and capitalize on its planned developments.

As the construction work progresses, the market will be keen to observe any potential impact on the company's operational efficiency and financial performance in the coming quarters.