Marine Electricals (MARINE) Q2 FY27 Profit Doubles as Data Center Orders Fuel an 82% Revenue Surge
The electrical equipment maker's quarterly profit nearly doubled year-on-year, driven by rapid execution of a record order book dominated by data center projects.
Marine Electricals reported an 82% jump in Q2 FY27 revenue to ₹405 crore, with profit soaring 93% to ₹32 crore. The surge was powered by accelerated execution of a massive order backlog, now over ₹2,000 crore, largely from India's booming data center sector.
For Marine Electricals, the story is no longer just about ships. The company’s latest quarter shows a decisive pivot, where powering India's digital infrastructure is driving explosive growth. Revenue and profit nearly doubled as a record order book, now dominated by data center contracts, began converting at scale.
The numbers tell a story of acceleration. Revenue hit ₹404.7 crore, up 82% from a year ago and 56% from the prior quarter. Profit followed even faster, rising 93% year-on-year to ₹32.1 crore. The net profit margin expanded to 7.9%, its highest in five quarters.
Revenue & profit
Revenue (₹ Cr)
Profit (₹ Cr)
Net Profit Margin
| Metric | CurrentQ2 FY27 | PreviousQ1 FY27 | Same quarter LYQ2 FY26 |
|---|---|---|---|
| Revenue (₹ Cr) | 404.65YoY +82% | 259.16 | 222.24 |
| Profit (₹ Cr) | 32.09YoY +93% | 17.51 | 16.62 |
| Net Profit Margin | 7.9%YoY +5.3% | 6.8% | 7.5% |
From Shipyards to Server Racks
The surge was driven by accelerated project execution, particularly in data center power distribution and naval equipment. Reports from Sahi.com and Flash Finance note the company secured over ₹960 crore in orders during the quarter from clients like Princeton Digital Group and STT Global Data Centres. This built on a backlog that stood at a record ₹2,073 crore as of June 2026, providing 8 to 24 months of revenue visibility.
The Margin Leverage from Scale
Profit growth outpaced revenue because the company gained operating leverage. While interest costs rose 26% year-on-year, they grew slower than the top line. The real story is scale: executing larger projects allows fixed costs to be spread over a much bigger revenue base, improving profitability.
Capacity to Keep the Momentum
To handle this demand, Marine Electricals inaugurated a new 160,000 sq. ft. plant in Goa in September, as reported by Upstox. It will exclusively make Power Train Units for data centers, aiming for full capacity by March 2027. This expansion, funded partly by reallocated preferential issue proceeds, is critical to executing the massive backlog without delays.
The market has taken note. Foreign institutional investors increased their stake by 0.96 percentage points in Q2 FY27, according to data from FIIandDIIData.com. While no formal management guidance was provided with the results, the sheer size of the order book acts as a powerful forward indicator.
Key Points
- Revenue grew 82% year-on-year to ₹404.7 crore, with profit up 93% to ₹32.1 crore.
- Growth is driven by rapid execution of a record ₹2,073+ crore order book, now heavily weighted toward data center power distribution.
- A new manufacturing facility in Goa adds dedicated capacity for data center products, supporting execution over the next 12-18 months.
- Institutional investor interest is rising, with FIIs increasing their stake in the September 2026 quarter.
Hexa Perspective
This quarter confirms Marine Electricals' successful transition into a high-growth infrastructure play. The business is no longer cyclical but rides the structural wave of data center construction and naval indigenisation. The key test is execution. The company must convert its enormous backlog smoothly while managing working capital on large projects. If it can maintain this pace, the current growth trajectory has a clear runway for at least the next four to six quarters, backed by visible order book revenue.
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