Shilchar Technologies Ltd.Q2 revenue +43% QoQ, EBITDA margin 20.8%

Shilchar Technologies' Q2 FY27 call, held on 29 October 2026, reported revenue of ₹192.61 crore, up 43% on the quarter and 12% on the year, after a slow Q1 hit by the West Asia crisis.

EBITDA excluding other income was ₹40.06 crore, a 20.8% margin against 16.4% in Q1, and profit after tax was ₹32.98 crore. Exports to North America recovered after the 50% US tariff was withdrawn, while Middle East shipments and higher logistics costs have not fully normalised. Capacity utilisation was about 80% and should approach 100% in Q3 and Q4, and the Phase 3 expansion of 6,500 MVA, taking capacity to 14,000 MVA, is due in April 2027.

The order book is above ₹550 crore. Management stays on track for FY27 revenue of ₹750 crore and targets EBITDA in rupee terms above ₹200 crore rather than a margin percentage, with FY28 sales near ₹1,000 crore. Raw material costs have risen to about 71% to 72% of sales according to an analyst, and margins are expected to improve in Q3 and Q4 with higher exports.