Shera Energy Limited (NSE: SHERA), an integrated non-ferrous metals manufacturer of winding wires, conductors and value-added copper, aluminium and brass products for the power, renewables, mobility and industrial sectors announced its financial results for the quarter and half year ended September 30, 2026.
Shera Energy has reported a 34.2% year-on-year (YoY) increase in consolidated revenue from operations to ₹1,047.40 crore for the first half of FY27 (H1 FY27), compared with ₹780.65 crore in the corresponding period of the previous financial year. Profit after tax (PAT) more than doubled to ₹30.77 crore from ₹15.21 crore, registering a growth of 102.3% YoY.
EBITDA, including total income, increased 70.9% YoY to ₹70.78 crore from ₹41.40 crore. The EBITDA margin improved by 146 basis points to 6.76%, compared with 5.30% in H1 FY26. Profit before tax (PBT) rose 98.2% to ₹41.85 crore from ₹21.12 crore, while the PAT margin increased by 99 basis points to 2.94% from 1.95%.
The company reported progress across its copper processing, value-added metal products, and cable and conductor businesses during the period.
Shera Zambia Limited, a 99.50% subsidiary, is progressing with its copper cathode facility in Zambia’s Copperbelt region. The project’s Phase 1 has a capacity of 1,200 metric tonnes per annum (MTPA) and is currently at the pilot stage. The facility has produced and sold its first trial batch of 8.6 metric tonnes of copper cathode with 99.99% purity. Commercial operations are expected to commence by Q4 FY27.
At Shera Metal Private Limited, the new facility for manufacturing super-fine enamelled wires, photovoltaic (PV) ribbon wires and busbars has entered commercial production. Trials for continuously transposed conductors (CTC) have been completed, and initial commercial orders have been executed. Full-scale commercial production is expected by the end of the year.
Meanwhile, the newly added capacities at Rajputana Industries’ Reengus facility have commenced commercial production. These include 2,400 MTPA of nickel-iron alloy capacity and 36,000 km per annum of cable and conductor capacity.
In a capital-raising initiative, the company allotted 45,00,000 convertible warrants on a preferential basis at ₹118 per warrant on July 14, 2026. The aggregate issue size was ₹53.10 crore. The company also received a credit rating upgrade from Acuité on July 15, 2026, to ACUITE A-/Stable for long-term facilities and ACUITE A2+ for short-term facilities.
The company’s growth outlook is supported by investments in India’s power infrastructure and grid modernisation. Under the National Electricity Plan (2023–32), power sector capital expenditure of ₹9.15 lakh crore is planned, while transformer capacity is projected to increase from 1,478 GVA to 2,345 GVA by 2032. These developments are expected to support demand for copper and aluminium winding wires.
The ₹3.03 lakh crore Revamped Distribution Sector Scheme (RDSS) is also driving grid modernisation and the replacement of ageing distribution transformers. Additionally, domestic copper recycling and integrated production are receiving policy support through nil customs duty on copper scrap and the National Critical Mineral Mission, amid India’s dependence on imports for more than 90% of its copper concentrate requirements.
Demand from renewable energy and electric mobility is providing further opportunities for the company’s winding wire and PV ribbon businesses. Electric vehicle sales increased by approximately 25% year-on-year in FY26, while the expansion of domestic solar cell manufacturing capacity is expected to support demand for PV ribbons and related products.
Commenting on the results, Mr. Shaikh Naseem, Chairman & Managing Director, said: “H1FY27 marks a landmark first half in Shera’s journey. We delivered the highest half yearly revenue in our history at ₹ 1047.4 crore on a consolidated basis, up 34.2% YoY. EBITDA stood at ₹ 70.78 crore and PAT at ₹ 30.77 crore. This was driven by robust, broad-based demand from transformer and power equipment manufacturers. The industry backdrop makes this growth favourable. India is in the middle of a large electrification build-out, with sustained investment in power transmission, a steady expansion of transformer capacity, and renewables and electric mobility adding fresh demand every year. Each of these runs on copper and aluminium winding wires and conductors.
Our multi-metal capability across copper, aluminium and brass, together with in-house recycling and disciplined working capital management, helped us manage volatility in metal prices. During the period, we completed the allotment of convertible warrants and received an upgrade in our credit rating, both of which strengthen our balance sheet. We also continued to progress our Zambia cathode facility and our new value-added product lines. We remain focused on disciplined execution and on strengthening our core operations.”
