Earning Call Transcript

06th November, 2026 To, To, Listing Department Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Bandra Kurla Complex Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 544527 Symbol: ATLANTAELE Subject: Submission of Transcript of Earnings Call Ref.: Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, In continuation of our intimation dated 28th October, 2026 regarding Earnings Call to discuss Financial performance for Q2 & H1 FY27 organized by the Company, please find enclosed herewith the Transcript of the said meet held on 02nd November, 2026. The same is also being made available on the Company’s website at www.aetrafo.com Kindly take the same on record. Thanking you, Yours faithfully, For Atlanta Electricals Limited Tejal S. Panchal Company Secretary & Compliance Officer Encl: As Above ATANTA ELECTRICALS LIMITED Corporate Office www.aetrafo.com (Formerly known as ATLANTA ELECTRICALS PVT. LTD.) Plot No. 1503/4, GIDC Estate, 02692 235023 Vithal Udyognagar, Anand – 388121 CIN: L31110GJ1988PLC011648 sales@aetrafo.com Gujarat, India “Atlanta Electricals Limited Q2 & H1 FY27 Earnings Conference Call” November 02, 2026 MANAGEMENT: MR. NIRAL KRUPESHBHAI PATEL – CHAIRMAN AND MANAGING DIRECTOR – ATLANTA ELECTRICALS LIMITED MR. AKSHAYKUMAR MATHUR– CHIEF EXECUTIVE OFFICER – ATLANTA ELECTRICALS LIMITED MR. ANAND SHARMA – CHIEF OPERATING OFFICER – ATLANTA ELECTRICALS LIMITED MR. MEHUL MEHTA – CHIEF FINANCIAL OFFICER – ATLANTA ELECTRICALS LIMITED MODERATOR MR. MOHIT UPADHYAY – ADFACTORS PR Page 1 of 18 Atlanta Electricals Limited November 02, 2026 Moderator: Ladies and gentlemen, good day and welcome to Atlanta Electricals Q2 and H1 FY27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Mohit Upadhyay from Adfactors PR. Thank you, and over to you, sir. Mohit Upadhyay: Thank you. Good morning and a very warm welcome to Atlanta Electricals Limited Q2 and H1 FY27 earnings conference call. Joining us today are Mr. Niral Krupeshbhai Patel, Chairman and Managing Director, Mr. Anand Sharma, the Chief Operating Officer, Mr. Akshaykumar Mathur, CEO, and Mr. Mehul Mehta, CFO. Before we begin, I would like to remind participants that certain statements made during this call may be forward-looking in nature and are subject to risk, uncertainties, and assumptions. These should not be relied upon as guarantees of future performance. I now invite Mr. Mehul Mehta, our Chief Financial Officer, to take you through financial highlights of Q2 and H1 FY27. Thank you, and over to you, Mehul bhai. Mehul Mehta: Thank you, Mohit. Good morning, everyone. I will now take you through our financial performance for the second quarter and first half of FY27. We have delivered healthy year-on- year growth in revenue and profitability during the first half of the financial year, despite facing certain external challenges during the second quarter. Our performance reflects the underlying strength of demand across our key business segments and the investments we have made in expanding our manufacturing capabilities. While elevated raw material prices and weather-related disruptions impacted our quarterly performance, these challenges are largely temporary in nature. Our focus remains on timely execution of our order book, improving operational efficiencies, and maintaining financial discipline. Let me begin with the quarterly performance financial performance. During Q2 FY27, our consolidated revenue from operations stood at INR390.1 crores, registering a growth of 23.1% year-on-year compared with INR317 crores in Q2 FY26. This growth was achieved despite unusual heavy rainfall in Gujarat, which temporarily affected manufacturing operations, transportation, and customer delivery schedules. Heavy rainfall and waterlogging resulted in precautionary shutdowns at our manufacturing facilities on two occasions. More importantly, disruptions at customer project sites prevented the timely acceptance of certain completed transformers. Consequently, finished orders worth approximately INR180 crores could not be delivered during the quarter. Importantly, these represent deferred deliveries and not cancellations and these orders continue to remain part of our order book. Page 2 of 18 Atlanta Electricals Limited November 02, 2026 I'm pleased to share that approximately 70% of these deferred orders have already been dispatched and we expect to complete the remaining deliveries during Q3 FY27, subject to customer site readiness. Coming to profitability, our gross profit for Q2 FY27 stood at INR103.6 crores, registering a growth of 6.1% year-on-year compared with INR97.8 crores in the corresponding quarter last year. However, gross profit margin moderated to 26.6% compared with 30.9% in Q2 FY26. The moderation was primarily attributable to elevated commodity and raw material prices, particularly transformer oil, copper and steel, which increased manufacturing costs during the quarter. As highlighted in our earlier calls, the majority of our orders carry price variation clauses, allowing us to pass on increase in raw material costs to customers. However, during Q2, we executed certain firm price orders booked in the previous year, which accounted for approximately 15% of quarterly revenue. Since these contracts did not offer the same flexibility to pass on higher input costs, they adversely impacted our gross margins. The remaining firm price orders are relatively smaller in value and are expected to be substantially completed during Q3 FY27. Accordingly, we expect the associated pressure on profitability to moderate in the coming quarters, although commodity price volatility remains an important factor to monitor. Moving to EBITDA for Q2 FY27, EBITDA stood at INR59.6 crores, representing a growth of 8.8% year-on-year compared with INR54.8 crores in Q2 FY26. EBITDA margins stood at 15.3% compared with 17.3% in the corresponding quarter last year, reflecting a contraction of approximately 201 basis points. The margin moderation was primarily driven by higher raw material costs on firm price contracts and the impact of temporary disruptions on execution and operating leverage. Despite these challenges, we continued to maintain operating profitability and remain focused on disciplined procurement, cost management and improving capacity utilization. Coming to the bottom line, profit after tax stood at INR32.1 crores, registering a growth of 28% year-on-year compared with INR25.1 crores in Q2 FY26. Our PAT margin improved to 8.2% compared with 7.9% in the corresponding quarter last year. This was supported in part by lower finance costs, which declined to INR8.5 crores from INR13.2 crores a year ago. Basic and diluted earnings per share for the quarter stood at INR4.18 compared with INR3.50 in Q2 FY26. Now coming to our consolidated performance for H1 FY27, revenue from operations for the first half stood at INR856.4 crores, registering a growth of 35.5% year-on-year compared with INR632.1 crores in H1 FY26. Gross profit increased by 28.6% to INR230.9 crores, while EBITDA grew by 32% to INR136.7 crores compared with INR103.6 crores in the corresponding period last year. EBITDA margin for H1 FY27 stood at 16% compared with 16.4% in H1 FY26. Profit after tax for the first half increased by 40.4% year-on-year to INR79 crores compared with INR56.2 crores in H1 FY26, while PAT margin improved to 9.2% from 8.9%. Page 3 of 18 Atlanta Electricals Limited November 02, 2026 These numbers demonstrate that despite the [Showing first 8,000 characters — download PDF for full document]