Honeywell Automation India Limited (HONAUT) provides automation and control systems solutions and reports as a single Automation & Control Systems segment, serving India's push into data centres, semiconductor manufacturing and industrial digitalisation. The Q2 print will speak to whether revenue re-accelerates from Q1's +1.80% YoY toward the company's '2x GDP growth' ambition, and whether the Q1 margin expansion holds against a rising employee-cost line.
| Results date | October 27, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 1,204.4 Cr |
| Previous quarter PAT | Rs. 150.7 Cr |
| Market cap | Rs. 27,593.72 Cr |
| CMP | Rs. 31,214.6 |
The Board is scheduled to meet on Tuesday, October 27, 2026, to consider and approve the unaudited financial results for Q2 and the half-year ended September 30, 2026. The trading window for insiders is shut from October 1, 2026 through October 29, 2026, under SEBI (PIT) Regulations.
The central question for this quarter is whether H1 FY27 revenue re-accelerates from Q1's +1.80% YoY toward the company's '2x GDP growth' framing, which on its own FY27 GDP projection of 6.6% arithmetically implies about 13.2% revenue growth. The external demand backdrop entering the quarter was strong: IIP capital goods grew +16.1% YoY in July 2026 and +16.9% in August, while parent Honeywell reported Industrial Automation orders up 24% and a $38.0 billion total backlog as of June 30, 2026. On margins, Q1 FY27 PBT margin expanded to a derived 16.86% from 14.20% a year ago, but employee benefits expense grew +7.33% YoY to 19.33% of revenue, and the open-ended guidance of 'maintaining profit margins' will be tested against that cost line. Crude is an indirect swing factor: Brent exited September at $103.73 after breaching $106, and the company's own macro dashboard flags $109.7/bbl FY27 crude with an upward-risk arrow. This is also the first results season for CFO Satish Kumar Agarwal, effective June 1, 2026, with the 'working capital discipline' marker applying to trade receivables of Rs. 1,160.9 Cr at the FY26-end starting position.
2x GDP growth tracking: The only growth guidance on record is open-ended: 'Sustain growth at ~2X GDP'.
Margin bridge and employee-cost trajectory
Order book momentum and export recovery
New CFO, working capital and related-party run-rate
The guidance is open-ended — the company targets '2x GDP growth while maintaining profit margins and working capital discipline'. FY26 revenue grew +11.8% against FY26 GDP of 7.7% (a derived ~1.53x), but Q1 FY27 revenue grew only +1.80% YoY, leaving the full-year pace requiring a steep acceleration.
Management's stated goal is 'maintaining profit margins', with no numeric level disclosed. FY26 PBT margin fell to 15.1% of revenue from 16.8% in FY25, though Q1 FY27 PBT margin expanded to a derived 16.86% from 14.20% a year earlier.
The external order book stood at Rs. 3,514.4 Cr at FY26-end, up +14.1% YoY from Rs. 30,808 Mn in FY25 — a derived ~0.75x of FY26 revenue. No quarterly order intake disclosures exist in the retrieved sources, so an H1 FY27 update will be a key watch item.