9 months ago
Indian Companies Report Mixed Q2 Results, Some Eyeing Growth
Several Indian companies shared their financial results for the second quarter.
Some, like Eureka Forbes and Granules India, had a good quarter and expect to keep improving.
Granules India plans to reduce its debt.
IRCTC wants to double its earnings in the next few years and plans to grow a lot.
Muthoot Finance is doing so well it doubled its growth forecast and plans to open many new branches.
Lumax Auto Tech had its best sales ever and expects continued growth.
However, not all companies had great news.
Premier Explosives saw its income drop, and PG Electroplast had mixed results, though its air conditioning business is picking up.
Some companies, like J Kumar Infra, are facing difficulties but remain hopeful about new projects.
Eureka Forbes and Granules India reported positive Q2 results with expectations of margin improvement and debt reduction, respectively.
IRCTC plans to double its revenue within the next 3-5 years, signaling ambitious growth strategies.
Muthoot Finance doubled its growth guidance to 30-35% and intends to open 150 new Belstar branches by FY26.
Lumax Auto Tech achieved record sales and provided a 25% growth guidance, while Premier Explosives reported a revenue dip.
J Kumar Infra expressed optimism about new tunnel projects despite facing challenges, and PG Electroplast noted a ramp-up in its AC business amidst a mixed quarter.
- Who
- Several Indian companies including Eureka Forbes, Granules India, IRCTC, J Kumar Infra, Lumax Auto Tech, Samvardhana Motherson, Muthoot Finance, Premier Explosives, and PG Electroplast.
- What
- Reported their financial results for the second quarter (Q2 FY26), detailing performance, future outlook, and expansion plans.
- Where
- India
- When
- November 17, 2025
- Why
- To update investors and stakeholders on financial performance, future projections, and strategic initiatives.
Positive Performance and Growth Outlook
Challenges and Mixed Results
Q2 Performance and Future Expectations
Positive Performance and Growth Outlook
Eureka Forbes reported a good Q2 with expectations of consistent year-on-year margin improvement. Granules India also reported a good Q2 FY26 and projects a 10-15% reduction in net debt by FY27. Lumax Auto Technologies achieved record sales and a larger order book, issuing a 25% growth guidance. Muthoot Finance has doubled its growth guidance to 30-35%. Samvardhana Motherson reported steady Q2 results, noting healthy growth in its non-auto segment.
Challenges and Mixed Results
Premier Explosives experienced a dip in revenue for Q2. PG Electroplast reported a mixed Q2 FY26, although its air conditioning business is seeing a ramp-up.
Expansion and Strategic Plans
Positive Performance and Growth Outlook
IRCTC's CMD announced plans to double revenue within 3-5 years, with significant expansion on the horizon. Muthoot Finance plans to open 150 new Belstar branches by the end of FY26. Lumax Auto Technologies anticipates continued growth.
Challenges and Mixed Results
J Kumar Infra's MD expressed optimism about new tunnel projects despite facing challenges. Premier Explosives' MD discussed the order book, inspections, and capital expenditure following the revenue dip.
Key facts
- Eureka Forbes Q2
- Reported good performance with expected consistent year-on-year margin improvement.
- Granules India Q2
- Reported good Q2 FY26; expects to reduce net debt by 10-15% by FY27.
- IRCTC Q2
- CMD stated plans to double revenue in 3-5 years with significant expansion ahead.
- J Kumar Infra Q2
- MD expressed optimism about new tunnel projects despite challenges.
- Lumax Auto Tech Q2
- Achieved record sales and a larger order book, with a 25% growth guidance.
- Samvardhana Motherson Q2
- Reported steady Q2 results, with healthy growth in the non-auto segment.
- Muthoot Finance Q2
- Doubled growth guidance to 30-35%; plans to open 150 Belstar branches by FY26.
- Premier Explosives Q2
- Revenue dipped in Q2; MD discussed order book, inspections, and capex.
- PG Electroplast Q2
- Experienced a mixed Q2 FY26, with a ramp-up in the AC business.
Quotes
Gaurav Khandelwal, Chief Financial Officer, Eureka Forbes
Gaurav Khandelwal is the Chief Financial Officer of Eureka Forbes.
“We have seen a good quarter with strong sales and cost optimization.”
thehindubusinessline.com
Krishna Prasad Chigurupati, CMD, Granules India
Krishna Prasad Chigurupati is the CMD of Granules India.
“We expect our net debt to come down by 10-15% by FY27.”
thehindubusinessline.com
Sanjay Kumar Jain, CMD, IRCTC
Sanjay Kumar Jain is the CMD of IRCTC.
“We will double our revenue in the next 3-5 years.”
thehindubusinessline.com
Kamal Gupta, MD, J Kumar Infraprojects
Kamal Gupta is the MD of J Kumar Infraprojects.
“We have a strong order book and margin outlook for FY26.”
thehindubusinessline.com
Anmol Jain, MD, Lumax Auto Tech
Anmol Jain is the MD of Lumax Auto Tech.
“We are guiding for a 25% growth.”
thehindubusinessline.com
Kunal Malani, CFO, Motherson Sumi
Kunal Malani is the CFO of Motherson Sumi.
“We are seeing a healthy growth in the non-auto segment.”
thehindubusinessline.com
George Muthoot Alexander, MD, Muthoot Finance
George Muthoot Alexander is the MD of Muthoot Finance.
“We are planning to open 150 Belstar branches by the end of FY26.”
thehindubusinessline.com
TV Chowdary, MD, Premier Explosives
TV Chowdary is the MD of Premier Explosives.
“We are optimistic about the future despite the dip in revenue.”
thehindubusinessline.com
Vikas Gupta, ED MD, PG Electroplast
Vikas Gupta is the ED MD of PG Electroplast.
“We are experiencing a ramp-up in the AC business.”
thehindubusinessline.com
Sources
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