Tonbo Imaging India Limited announced its unaudited consolidated financial results for the quarter and half-year ended September 30, 2026. The company recorded a significant 183% year-on-year revenue growth to ₹2,193 million in H1 FY27. Profit After Tax (PAT) for H1 FY27 stood at ₹58 million, a substantial improvement from a loss in the prior year. The order book remains robust at ₹2,498 million with an additional ₹4,083 million under negotiation.
Tonbo Imaging India Reports Strong H1 FY27 Performance
Tonbo Imaging India Limited has released its unaudited consolidated financial results for the second quarter and the first half of the financial year 2027 (H1 FY27), ending September 30, 2026. The company showcased impressive growth, with revenue for H1 FY27 reaching ₹2,193 million, marking a substantial 183% increase compared to ₹776 million in H1 FY26.
Key Financial Highlights (Consolidated)
The financial performance for H1 FY27 shows a significant turnaround in profitability. Profit After Tax (PAT) for the first half of the year was ₹58 million, a notable improvement from a loss of (₹42) million in H1 FY26. The PAT margin also saw an improvement, moving from (5.13)% to 2.61%.
In the second quarter of FY27 (Q2 FY27), revenue stood at ₹1,833 million, an exponential increase from ₹89 million in Q2 FY26, driven by strong performance in the latter part of the quarter. EBITDA for Q2 FY27 was ₹442 million, with an EBITDA margin of 24%, significantly offsetting the loss in the previous quarter.
Order Book and Future Outlook
The company’s order book continues to be a strong indicator of future revenue. As of September 30, 2026, the confirmed order book stood at ₹2,498 million. Furthermore, the company has an additional ₹4,083 million worth of contracts under negotiation. Domestic orders constitute 73% of the confirmed book, amounting to ₹1,822 million, while export orders are valued at ₹676 million.
Platforms account for the majority of the order book at ₹2,053 million, with tactical systems contributing ₹445 million. This reflects a strong platform-led project pipeline and opportunities across both domestic and international markets.
Business Updates and Expansion
Tonbo Imaging has also highlighted key business developments. Platform revenue grew to ₹941 million in H1 FY27 (vs. ₹333 million in H1 FY26), and Tactical revenue reached ₹1,229 million (vs. ₹393 million in H1 FY26). The company is scaling through a lean, fabless production model and has over 15 years of sustained R&D investment, focusing on proprietary IP and developing a directed-energy system over the next 3-4 years.
In October 2026, Tonbo secured a strategic export order of approximately EUR 65,000 from a European state-owned company for EO/IR stabilised seeker units, with an option to order up to approximately EUR 13 million. The company’s equity shares were listed on the NSE and BSE on October 23, 2026, following an Initial Public Offering of ₹852 crore.
Management Commentary
Mr. Arvind Kondangi Lakshmikumar, Promoter, Managing Director and Chief Executive Officer, Tonbo Imaging India Limited, commented, “H1 FY27 performance has met our expectations, with revenue reaching ₹2,193 million, supported by a strong second quarter and encouraging order inflows of ₹1,879 million. Our current order book of ₹2,498 million, together with contracts under negotiation of ₹4,083 million and a qualified pipeline of opportunities, support a positive outlook for FY27 and the medium term.”
He further added, “Products based defence businesses like ours need to be looked at from the lens of a three to five year perspective and business performance tracked on an annual basis. Revenue volatility on a quarter-on-quarter basis has been seen historically and should be considered par for the course. Over the past 15 years, sustained investment in R&D has enabled us to build a broad portfolio across tactical systems and platforms. While tactical systems currently contribute 70–80% of our business, we expect platforms to account for a larger share over time. We will continue investing in proprietary technology, including the development of a directed-energy system over the next 3–4 years, while pursuing domestic and export opportunities.”
Source: BSE
