RIR Power Electronics reported a strong Q2 FY27 with revenue rising 32.5% YoY to Rs 33.98 crore and profit after tax climbing 41.2% to Rs 4.45 crore. The company is currently awaiting final regulatory clearances to start production at its new Odisha silicon carbide facility, while maintaining a healthy order backlog of Rs 39 crore.
RIR Power Electronics Q2 Revenue Jumps 32.5% YoY
Revenue grew 32.5% YoY to Rs 33.98 crore; PAT rose 41.2% YoY to Rs 4.45 crore.
Reader Takeaway: Strong operational growth tempered by regulatory dependencies for the upcoming Odisha silicon carbide facility and funding requirements.
What just happened
RIR Power Electronics delivered a strong performance for the quarter ended September 2026. The company saw revenue rise to Rs 33.98 crore from Rs 25.64 crore in the year-ago period. Profit after tax (PAT) followed suit, increasing to Rs 4.45 crore. For the first half of FY27, revenue reached Rs 61.14 crore, marking a 31.1% increase over the previous year.
Why this matters
The company is scaling its operations despite external pressures. While raw material costs and promotional expenses slightly impacted EBITDA margins, the core business remains robust. Management indicated that the current quarterly revenue run-rate provides a solid baseline for performance. Significant interest lies in the Odisha silicon carbide (SiC) epitaxy project, which is expected to contribute Rs 12-15 crore in revenue within 4-6 months of commencing operations.
Business Updates
The company has completed the installation of manufacturing reactors at its Odisha site. Commercial production is currently awaiting final statutory clearances, including fire and building approvals. Additionally, the company is finalizing a term loan to fund the next packaging phase of the project, which is estimated to require 9 to 12 months for completion once initiated.
Risks to watch
The primary challenge is the dependency on government approvals for the Odisha plant, which remains outside of company control. Furthermore, the reliance on debt for the second phase of expansion adds a layer of financial commitment. Geopolitical volatility continues to exert pressure on global raw material costs, impacting short-term margin profiles.
What to track next
Investors should monitor the timeline for statutory clearances at the Odisha facility and the final approval status of the term loan for the packaging phase. The order book, currently at Rs 39 crore, and potential growth in railway-specific product demand will be key indicators of sustained momentum.