Q2 Earnings Results Live Updates: Tata Technologies Q2 profit rises 4% YoY to Rs 171.4 crore, revenue rises 28.4% YoY to Rs 1,698 crore

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Tata Technologies Q2 Live Updates

Q2 Results Today Live: Tata Technologies reports a jump of 4% year-on-year in its Q2 profit after tax to Rs 171.4 crore, from Rs 165.5 crore in the previous quarter of this year.

Tata Technologies Q2 Earnings Results Live Updates: Tata Technologies releases its Q2 earnings, reporting a 5.2% QoQ fall in its Q2 profit after tax, even as Q2 revenue rises to Rs 1,698 crore.

BHEL Q2 Earnings Results Live Updates: Bharat Heavy Electricals (BHEL) reports a 23.8% year-on-year jump in its Q2 net profit to Rs 9,300 crore from Rs 7,512 crore, in the same quarter last year.

Groww Q2 Earnings Results Live Updates: Billionbrains Garage Ventures, the parent company of Groww, reports a net profit of Rs 725.60 crore for Q2FY27, up 54% from Rs 471 crore posted in the same period last year.

1 New Update

Tata Technologies reported a 4% year-on-year (YoY) rise in second-quarter profit, even as revenue grew at a much faster pace, helped by strong momentum in its services business and continued demand from automotive and manufacturing clients.

- Uttam Gujrati, Chief Financial Officer, Tata Technologies

- Warren Harris, CEO and Managing Director, Tata Technologies

Tata Technologies has been selected as a strategic digital transformation partner for aEuropean Tier 1, supporting the modernization of manufacturing operations across its globalplants.

A leading North American commercial vehicle manufacturer has selected Tata Technologiesto lead the end-to-end development of a new vehicle platform and support the associated digitalecosystem.

Tata Technologies secured a strategic engagement with a Global Automotive OEM tosupport the development and virtual validation of next-generation vehicle softwareplatforms, reinforcing its capabilities in software-defined vehicles and embeddedengineering

• Total Company Operating Revenue stood at Rs 1,698.8 crore, up 28.4% YoY
• Services Segment Revenue was Rs 1,355.7 crore, up +33.9% YoY
• In USD terms, Services Segment Revenue came in at $141.9 million, up 4.3% QoQ in cc
• Operating EBITDA at ₹273.3 crore, up 31.5% YoY
• EBITDA margin up 40bps YoY at 16.1%; Flat QoQ
• Net Income was at Rs 171.4 crore vs. Rs 165.5 crore in Q2 FY26
• Net income margin was at 10.1%
• Workforce strength was at 12,895. [LTM] attrition came in at 15.6%

Along with the Q2 results, HDB Financial Services declared an interim dividend of Rs 2 per share for the financial year 2027. The record date to determine the eligibility of shareholders set to receive the dividend has been fixed on October 23.

The company reported a 2.4% year-on-year fall in its Q2 impairment to Rs 730 crore, from Rs 748 crore in the corresponding quarter last year.

• Profit at Rs 780 crore vs Rs 581crore, up 34.3% YoY
• NII at Rs 2534 crore vs Rs 2193 crore
• Company declares interim dividend of Rs 2/share

JM Financial has assigned a 'Reduce' rating to Tata Technologies, with a target price of Rs 730, reducing the target price by 6.4%.

Tata Technologies had reported profit after tax at Rs 1,807 crore in Q1FY27.

Growth is likely to be driven by Automotive, Aerospace, and Industrial Heavy Machinery, while full-vehicle programs ramp up gradually through FY27, according to Motilal Oswal.

Key monitorables include FY27 growth outlook, Tenneco ramp-up, Japanese full-vehicle program ramp-up, and further full-vehicle program closures.

Motilal Oswal has assigned a 'Sell' rating to Tata Technologies, with a target price of Rs 2,790, implying a downside of 10%.

PL Capital has assigned a 'Reduce' rating on Tata Technologies, with a target price of Rs 2,580.

PL Capital expects Tata Tech to report growth of 1.6% QoQ in USD following a strong Q1 base & softness in tech segment. The brokerage expects EBIT margin to marginally improve by 20bps QoQ.

Tata Tech could report another healthy quarter (4.4% cc QoQ in services) largely driven by ramp-up of Tenneco deal and full vehicle programmes, according to JM Financial. Overall growth is likely to be ~2.7% cc QoQ largely due to lumpiness in the technology solution segment.

• Profit at Rs 95 crore vs 75 crore, up 26.7%
• Revenue at Rs 41 crore vs 311 crore, up 32.5%
• EBITDA at Rs 188 crore

Operating performance also witnessed a sharp improvement, with EBITDA surging 76.6% YoY to Rs 1,026 crore from Rs 581 crore in the year-ago quarter. EBITDA margin expanded to 11%, compared with 7.7% in the corresponding period last year, indicating improved operating profitability.

Bharat Heavy Electricals Limited (BHEL) reported a whopping 120.1% year-on-year (YoY) jump in net profit to Rs 810 crore in the second quarter of FY27, compared with Rs 368 crore in the corresponding quarter of the previous fiscal year.

The board of directors approved the merger of Electrical Machines Repair Plant (EMRP), Mumbai and ElectronicsDivision (EDN), Bengaluru into a single Unit with EDN as the single merged Unit, with effect from 1st November 2026.

The board of directors approved the capital investment proposal for additional facilities for manufacturing of Thermal & Nuclear Sets at HEEP-Haridwar Unit at an estimated cost of Rs. 500 Crore approx.

Shares of BHEL rose over 3% to Rs 456.25 apiece on the BSE after the company reported a 23.8% year-on-year jump in its Q2 revenue.

Price as on 01.53.51 PM, Click on company names for their live prices.

Kotak Institutional Equities has a 'sell' rating on BHEL with a target price of Rs 150, while PL Capital has a 'reduce' rating on BHEL with a target price of Rs 368, hinting at up to 64% crash in the counter. However, JM Financial has a 'buy' rating on the stock with a target price of Rs 507, suggesting a 15% upside potential.

(1) Progress against double-digit organic FY27 growth outlook; pace of the Tenneco and Japanese full-vehicle programme ramp-ups
(2) Growth in non-anchor accounts; update on BMW TechWorks, Es-Tec integration and Aerospace momentum
(3) Commentary on sequential margin improvement despite Q2FY27 wage hikes and upfront investments for large programmes

Tata Technologies expects strong double-digit organic revenue growth in FY27, with H2 growth higher than H1.

PL Capital is expecting BHEL's revenue to come in at Rs 9,563.1 crore, up 27.3% YoY and 24.3% QoQ. EBITDA may come in at Rs 985 crore, up 69.6% YoY and 95.5 per cent QoQ with margins may improve 375 bps sequentially to 10.3%. Net profit may nearly double on a yearly basis to Rs 713.7 crore and up 86.9% QoQ.

• JM Financial expects Tata Tech to report 2.7% cc QoQ growth, 40bps cross-currency impact translates to a growth of 2.3% in USD.
• The brokerage expects 4.4% cc QoQ revenue growth in services segment given ramp-up of Tenneco deal and full vehicle programmes.
• Sequential expansion of ~20bps in margin is likely, according to the brokerage. Tailwind –operational efficiencies. Headwind – Upfront costs for largedeal ramp-ups.

Billionbrains Garage Ventures completed the Fisdom integration during the quarter, which will now enable it to provide Wealth offerings acrossmultiple platforms. Currently, it provides the following products across our platforms:

• Groww: Bonds and MF Prime
• W: Mutual Funds, Insurance, AIF, PMS, in-house MF PMS, supported by wealth partners
• Fisdom: Mutual Funds, supported by bank partners

While this quarter’s quantum was outsized, broadly, the company expects the growth of products which are not yet fully penetrated,like MTF and Commodity Derivatives, to be higher, leading to increased contribution from them in the coming quarters.

• Consolidated Total Income grew 44% YoY, with 27% growth in Total Transacting Users and 46% growth in TotalCustomer Assets.
• Billionbrains Garage Ventures added 11 lakh NTUs during the quarter, propelled by primary market activity.
• 42 lakh users appliedfor equity IPOs via Groww, resulting in a 22% market share in total allotments.
• It saw increased contribution across most products, like MTF and Commodity Derivatives.
• Consolidated expenses increased 29% YoY, with PAT 54% higher YoY, delivering a PAT margin of 47% (+3.0pp YoY).
• The Groww parent continues to scale new businesses, with its Wealth Assets crossing Rs 10,000 crores and our AMC AUM expanding145% YoY to Rs 7,179 crores.

Groww AMC’s AUM grew 145% YoY from Rs 2,928 crores to Rs 7,179 crores, with the share of actively managed AUMincreasing from 47% to 57%. Revenue for the AMC continued to grow in the quarter, up 131% YoY, while the bottom-linewas -Rs 8.3 crores.

According to the company, this quarter’s increase in Cost to Serve was driven by higher tech costs largely due to higher trading days, one-timereimbursements to clients for abnormal trades1, and inflation in compute costs due to AI and other factors. Typically,quarters with higher trading days tend to have higher Cost to Serve. The company expects the inflation-driven costs to remain apart of the operational baseline run rate going forward.

Effective 3 August 2026, SEBI introduced the Closing Auction System (CAS) for F&O eligible stocks, replacing the earlierVolume-Weighted Average Price method with a 20-minute closing auction (3:15 PM to 3:35 PM). During the initial adoption phase, a disparity emerged between the 3:15 PM reference price (3:00–3:15 PM VWAP) andthe equilibrium price published from 3:20 PM, leading to a decline in volumes across the industry. While the company's Equity Derivatives revenue declined 14.3% QoQ, the bulk of which is attributed to CAS, this was in-line withthe decline that the industry has seen.

Margins over the September quarter of this year improved 60 basis points to 64.5% from 63.9% in the previous quarter.

Price as on 12.58.37 PM, Click on company names for their live prices.

Billionbrains Garage Ventures (parent company of Groww) reported a net profit of Rs 725.60 crore for the second quarter of FY27, up 54% from Rs 471 crore posted in the same period last year. The net profit is attributable to the owners of the company. On a sequential basis, net profit dipped marginally by 1%.

The company’s revenue from operations came in at Rs 1,501 crore, marking an impressive 47% increase from Rs 1,019 crore posted in the corresponding quarter of the previous financial year.

Kotak expects EBITDA margin of 16.4%, up 30 bps QoQ. The brokerage expects similar EBIT margin expansion QoQ, primarily aided by currency benefits. BMW JV would continue to scale though at a moderated rate than earlier.

(1) Demand outlook and pipeline of full-vehicle development programs
(2) Medium-term outlook on spends by anchor clients and Tata group entities
(3) Revenue diversification initiatives underway to minimize revenue growth volatility
(4) New deal wins in automotive and aerospace verticals
(5) Ramp-up of BMW JV, which has scaled significantly ahead of earlier expected timeline
(6) Near-term outlook of technology solutions segment

Domestic Deposit of the Bank stood at Rs 15,47,979 crore as at September 2026 with growth of 10.97% YoY.Domestic Advances (gross) of the Bank stood at Rs 12,64,753 crore as at September 2026 and grew by 16.95% YoY.

CRAR stood at 17.19% as at September 2026, out of which CET1 is 12.80%, Tier-I is 2.25% and Tier-IIis 2.14%.

Retail Credit grew by 31.61%, with housing loan growth at 17.35%, and vehicle loan at 25.50%.

• Operating Profit stood at Rs 8,758 crore, up by 1.98%
• Net Profit stood at Rs 5,175 crore, up by 8.40%
• Provision Coverage Ratio (PCR) at 95.34% improved by 175 bps
• Gross NPA Ratio stood at 1.33%, improved by 102 bps
• Net NPA Ratio stood at 0.30%, improved by 24 bps
• Credit Cost stood at 0.47% improved by 21 bps
• Slippage Ratio stood at 0.58% improved by 18 bps

• The Bank has achieved Targets in Priority Sector at 44.99% and Agricultural Credit at 20.61% of ANBCas at September 2026, as against the norm of 40% and 18% respectively.
• Credit to Small and Marginal Farmers stood at 12.74% of ANBC, against the norm of 10.00%.
• Credit to Weaker Sections stood at 18.73% of ANBC, against the norm of 12.00%.
• Credit to Micro Enterprises stood at 9.22% of ANBC, against the norm of 7.50%.Credit to Non-Corporate Farmers stood at 15.55% of ANBC, against the norm of 14.00%.

Global Business increased by 15.88% YoY to Rs 30,72,365 Cr as at September 2026, Global Depositsincreased by 13.13% YoY to Rs 16,97,305 Cr and Global Advance (gross) increased by 19.46% YoY to Rs 13,75,060 Cr.

Price as on 12.32.23 PM, Click on company names for their live prices.

Canara Bank’s asset quality improved, with net non performing assets (NNPA) reducing around 34% YoY to Rs 4,053 crore, while gross performing assets (GNPA) fell over 32% YoY to Rs 18,299 crore during the quarter under review. As a result, gross NPA ratio declined to 1.33% in Q2 FY27, from 2.35% in Q2FY26.

The brokerage expects improvement in revenues, driven by the power and industrial segments. It relies on an uptick in pace of execution in September, noting weak execution in the first two months of the quarter as per CEA project data.

The lender’s net interest income (NII), or the difference between interest earned and interest expended, jumped more than 20% YoY to Rs 11,005 crore during Q2 of the ongoing financial year 2027, from Rs 9,141 crore reported in the same period of FY26.

Kotak Institutional Equities expects BHEL's revenue to come in at Rs 10,658.6 crore, up 41.9% YoY and 38.5% QoQ. EBITDA may come in at Rs 1,042.3 crore, up 79.4% YoY and 106.9% QoQ; while margins may improve by 323 bps to 9.8%. Net profit may double on both yearly and quarterly basis to Rs 778.7 crore, it said.

According to Motilal Oswal Financial Services, sequential revenue trends and margin pressures remain key monitorables for Billionbrains Garage Ventures, the parent company of Groww.

Groww's margin trading facility book has reached a new peak, with the growth momentum expected to continue alongside an improvement in cash yields. Margins, however, are likely to decline sequentially, driven by lower revenue and a slight increase in absolute costs, according to Motilal Oswal Financial Services.

In the technology solutions segment, Kotak expects weakness in products, segment while education business would be impacted by project delays.

Kotak expects services segment c/c revenue growth of 3.4% QoQ for the services segment. Services segment growth would be primarily led by automotive including anchor clients and sustained momentum in aerospace vertical while Es-Tec is likely to register sharp revenue decline due to weakness at top account.

Motilal Oswal expects NIMs to move up 3bp quarter-on-quarter as most of the high-cost liabilities are being retired.