Q2 Results Live: Union Bank Net Profit Zooms 30% YoY To Rs 5,537 Crore; HFCL Revenue More Than Doubles YoY

• Lighting revenue increased 14.3% YoY, supported by growth in ceiling lights, outdoor lighting, LED battens and project business.
• However, Lighting EBIT margin contracted 260 basis points YoY due to execution of previously contracted lower-priced orders.
• Butterfly Gandhimathi Appliances reported 16.6% revenue growth, driven by pressure cookers, mixer grinders, induction cooktops and electric rice cookers.
• ECD EBIT margin expanded 100 basis points to 11.6%, while Butterfly margins declined 40 basis points to 7.4%.
• PL Capital has marginally raised its FY28 and FY29 earnings estimates and retained its positive outlook on the stock.

• ECD revenue grew 19.2% YoY, supported by 40% growth in BLDC fans, double-digit growth in pumps and over 20% growth in small domestic appliances.
• The company's exports surged 70% YoY, led by fans and pumps, with the Middle East, Africa and South Asia driving demand.
• General trade and rural channels posted double-digit growth, while water heaters and several appliance categories gained market share.
• The company has implemented cumulative fan price hikes of 17-18% between January and September 2026 and has passed on about 80% of the increase in costs.

• PL Capital maintained a Buy rating on Crompton Greaves Consumer Electricals with a target price of Rs 294.
• The brokerage said growth momentum continues to strengthen across categories, led by robust performance in the Electrical Consumer Durables (ECD) segment.
• PL Capital expects revenue, EBITDA and PAT to grow at a CAGR of 12.9%, 15% and 15.5%, respectively, over FY26-FY29.

• Union Bank of India said RBI measures aimed at boosting foreign exchange inflows have supported system liquidity.

• Management said consistent improvement in margins remains a key priority for the bank going forward.

• The lender highlighted that around 70% of its FCNR(B) deposits are in the five-year maturity bucket, providing longer-tenure funding stability.

• Hindustan Zinc is expected to benefit from a lower cost of production, aided by better sulphuric acid realisations.
• The benefit from lower costs is likely to outweigh inflationary pressures and support EBITDA growth.
• Management commentary on metal prices, cost trends and margin sustainability will be key factors for investors to monitor.

• Zinc sales volumes are expected to increase 5% YoY, while lead sales volumes are seen rising 13.3% YoY.
• Silver sales are estimated to grow 18% YoY, providing additional support to overall revenue growth.
• Analysts expect stronger metal volumes and favourable commodity prices to drive earnings performance during the quarter.

• Hindustan Zinc is expected to report Q2 revenue of Rs 14,035 crore, up 2.5% QoQ.
• EBITDA is estimated at Rs 8,466 crore, reflecting 5.2% sequential growth, while EBITDA margin is expected to improve to 60.3% from 58.6% in the previous quarter.
• Net profit is estimated at Rs 5,593 crore, up 2.3% QoQ.
• Elevated zinc prices and lower production costs are expected to support profitability during the quarter.

• IDBI Capital said HDFC Bank's margins appear to have bottomed out, with repo-linked loan repricing expected to support margin improvement beginning Q3 FY27.
• The brokerage noted that the cost of funds remained flat QoQ at 4.4%, despite the impact of high-cost FCNR deposits.
• Slippages declined to Rs 61 billion from Rs 80 billion in Q1, while credit cost stood at 44 basis points.
• Capitalisation remained strong, with capital adequacy at 18.9% and CET-1 ratio at 17.1%.
• IDBI Capital said investors should monitor the lower CASA ratio, liquidity coverage ratio, proposed insurance commission norms and the strategic direction under the new MD & CEO.

• IDBI Capital said retail assets (excluding agri, payments and FCNR-linked leverage loans) grew 11.3% YoY, compared with 7.9% growth a year ago.
• Business banking growth accelerated to 28.1%, supported by Rs 41,000 crore of ECLGS 5.0 disbursements.
• Average deposits increased 16.8% YoY, although the CASA ratio declined to 32% from 34%.
• The brokerage said faster growth in retail and SME segments should support medium-term earnings growth, while the evolving deposit mix remains an area to watch.

• IDBI Capital said HDFC Bank delivered a steady Q2 FY27 performance, supported by healthy balance-sheet growth and stable asset quality.
• The brokerage highlighted 16.4% YoY loan growth and 18.8% YoY deposit growth, with around 4% of deposit growth driven by FCNR(B) inflows.
• NII grew 9.7% YoY to Rs 34,620 crore, while PAT rose 4.7% YoY to Rs 19,510 crore. Excluding treasury trading gains, profit grew 12.6% YoY.
• Gross NPA and Net NPA stood at 1.11% and 0.4%, respectively, reflecting stable asset quality.
• IDBI Capital has maintained its Buy rating on the stock with a target price of Rs 950.

• Rossari Biotech reported Q2 net profit of Rs 38.9 crore, up 5.4% YoY from Rs 36.9 crore.
• Revenue increased 19% YoY to Rs 698 crore, while EBITDA rose 21.1% YoY to Rs 87.1 crore.
• EBITDA margin improved to 12.5% from 12.3% in the year-ago quarter.
• Export sales grew 33.8% YoY to Rs 216.4 crore.
• The company said its subsidiary will lease land for a greenfield manufacturing unit in Saudi Arabia.
• Net debt declined to Rs 221 crore from Rs 281 crore as of March 2026

• Union Bank of India reported Q2 net profit of Rs 5,537 crore, up 30.3% YoY from Rs 4,249 crore.

• Net Interest Income (NII) rose 20% YoY to Rs 10,582 crore from Rs 8,813 crore.

• Net Interest Margin (NIM) stood at 2.86% in Q2FY27, from 2.80% in Q1FY27.

• Operating profit increased 19% YoY to Rs 8,108 crore from Rs 6,814 crore.

• Gross NPA improved to 2.42% from 2.65% in the previous quarter, while Net NPA declined to 0.42% from 0.47%.

• Provisions stood at Rs 701 crore, compared with Rs 979 crore in Q1 FY27 and Rs 1,397 crore in the year-ago quarter.

• The bank's Provision Coverage Ratio (PCR) stood at 95.2% as of Sept. 30.

• The lender reported strong profit growth aided by higher NII, lower provisioning and continued improvement in asset quality.

• Oberoi Realty reported Q2 net profit of Rs 762 crore, up 0.3% YoY from Rs 760 crore.
• Revenue declined 6.1% YoY to Rs 1,671 crore, while EBITDA remained largely flat at Rs 1,019 crore.
• EBITDA margin expanded to 61% from 57.3% a year ago.
• The company reported Q2 booking value of Rs 9,149.69 crore, while H1 FY27 booking value stood at Rs 10,199.57 crore.
• The booking performance remained a key highlight despite muted growth in reported earnings.

• Bajaj Housing Finance reported Q2 net profit of Rs 757 crore, up 17.7% YoY from Rs 643 crore.
• Total income grew 18.3% YoY to Rs 3,251 crore from Rs 2,748 crore.
• HSBC maintained its Reduce rating on the stock with a target price of Rs 76.
• The brokerage said profit beat estimates due to better-than-expected NIMs, while AUM growth remained healthy, driven by LRD, LAP and affordable housing loans.
• HSBC expects NIM compression in FY27 due to rising funding costs and portfolio mix changes, while noting that the Sambhav affordable housing portfolio is expected to become a meaningful part of AUM.

• AI-related revenue contributed 13.4% of quarterly revenue, compared with 12.2% in Q1 FY27, making LTIMindtree one of the highest AI-revenue contributors among large Indian IT companies.
• Deal TCV came in at $1.26 billion, lower than $1.68 billion in the previous quarter.
• The company said customers are increasingly shifting towards shorter-duration AI-led deals, enabling faster revenue realisation and shorter implementation cycles.
• LTIMindtree added around 1,700 freshers during Q2, compared with roughly 1,300 freshers in Q1 FY27.

• HFCL reported Q2 consolidated net profit of Rs 363 crore, compared with Rs 68 crore in the year-ago quarter.

• Revenue rose to Rs 2,542 crore from Rs 1,043 crore a year earlier.

• EBITDA jumped to Rs 631 crore from Rs 189.8 crore in the corresponding quarter last year.

• EBITDA margin expanded to 24.8% from 18.2% a year ago.

• The company reported strong growth across revenue, operating profit and net profit, with significant margin expansion during the quarter.

• LTIMindtree said Q2 growth was impacted by its Saudi Arabia business, with the Middle East business weighing on growth by 60-70 basis points sequentially.
• The Hi-Tech segment declined 4% QoQ in constant currency terms due to seasonal renewals and Middle East-related issues.
• Management expects stronger growth in H2 FY27 and sees a recovery in the Hi-Tech business during Q3.
• The company added that the Randstad acquisition approvals remain on track for Q3 and expects FY27 margins to remain broadly flat.

• LTIMindtree reported a muted Q2 FY27 performance, with revenue rising 1.7% QoQ to Rs 11,808 crore and EBIT increasing 2.2% QoQ to Rs 1,839 crore.
• EBIT margin improved marginally to 15.6% from 15.5% in the previous quarter.
• Net profit declined 4.6% QoQ to Rs 1,398 crore, reflecting softer profitability despite revenue growth.
• Management said constant-currency growth came in at 1.1%, compared with 0.3% in the previous quarter.

• Cement prices remained volatile during the quarter, with declines seen in July-August before recovering in September.
• Imported petcoke prices have risen to around $176 per tonne, compared with lows of about $132 per tonne in Q1 FY27.
• Analysts expect higher fuel costs to weigh on sequential margins, making commentary on blended EBITDA trends and the impact of rising raw-material costs a key focus area.
• Management's outlook on demand, pricing and profitability in Q3 FY27 will be closely tracked by investors.

• Industry cement volumes are expected to grow 7-8% YoY during the quarter.
• UltraTech Cement's consolidated volumes are estimated to rise 10-11% YoY, outpacing industry growth.
• Investors will watch management commentary on demand trends, especially after an uneven monsoon and its impact on rural construction activity.

• UltraTech Cement is expected to report Q2 revenue of Rs 22,341 crore, up 14% YoY from Rs 19,606 crore.
• Net profit is estimated at Rs 1,556 crore, reflecting 26% YoY growth from Rs 1,231 crore.
• EBITDA is expected to increase 20% YoY to Rs 3,700 crore, while EBITDA margin is seen expanding 80 basis points to 16.6%.

• Loan loss provisions are estimated at Rs 2,134 crore, down 6% YoY but up 7.1% QoQ, indicating some seasonal pressure on credit costs.
• Asset quality is expected to remain broadly stable, with Net NPA estimated at 0.44% versus 0.39% in the previous quarter.
• Analysts will closely monitor stress trends in the MSME and small business portfolio, while commentary on the impact of recent rate hikes and credit costs in H2 FY27 will remain key focus areas.

• Bajaj Finance is expected to report Q2 net profit of Rs 6,416 crore, up 31.6% YoY and 7.2% QoQ.
• Net Interest Income (NII) is estimated at Rs 13,333 crore, reflecting 23.6% YoY growth, while operating profit is expected to rise 20.8% YoY to Rs 10,721 crore.
• Analysts expect NIMs to remain broadly stable, supported by improving yields and a revival in unsecured lending.
• Loan growth and profitability are likely to be aided by continued strength in the unsecured lending business.

Bajaj Finance, HFCL, Hindustan Zinc, IREDA, L&T Technology Services, Nelco, Piramal Finance, SML Mahindra, Sobha, UltraTech Cement, Union Bank of India and Waaree Renewable Technologies will be among the key earnings announcements to watch.

Aerpace Industries, Aksharchem India, A-One Steels India, Bajaj Finance, Bhansali Engineering Polymers, Bloom Industries, Delta Corp, Elevate Campuses, Gallantt Ispat, GOCL Corporation, HFCL, Hindustan Zinc, Indian Renewable Energy Development Agency (IREDA), Jaiprakash Power Ventures, Just Dial, Koura Fine Diamond Jewelry, L&T Technology Services, Malt Land Distilleries, Modern Steels, Melstar Information Technologies, Mangalam Global Enterprise, Modern Dairies, Nelco, Ontic Finserve, Piramal Finance, Quint Digital, Shri Niwas Leasing and Finance, SML Mahindra, Sobha, Tatva Chintan Pharma Chem, UltraTech Cement, Union Bank of India, Varmora Granito, Waaree Renewable Technologies and Yash Management & Satellite are scheduled to announce their Q2 FY27 results on Monday, October 19, 2026.

Stay tuned to this Q2 Results Live blog for the latest earnings announcements, financial performance, management commentary and market reaction throughout the day.