TANFACIND Q2 FY27 Guidance vs Delivery (TANFACIND Management Mirror)

FY27 Revenue Growth Guidance Upgraded to 35%-40% From 30% Guided in Jun'26 Qtr Amid 36.6% Q2 Growth

In Sep'26 Qtr, revenue from operations was reported at INR 23,048 lacs, marking a 36.6% YoY growth in quarterly financial results driven largely by realization increases, while H1 FY27 revenue grew 21% YoY to INR 418 crores in the concall. Against the initial guidance of at least 30% YoY revenue growth for FY27 issued in the Jun'26 Qtr concall, the Q2 performance exceeded the run-rate, though H1 trails it. Consequently, management upgraded its full-year FY27 revenue growth guidance to a range of 35% to 40% YoY, supported by stronger expected H2 performance from solar grade DHF, AHF, and new HFC-32 revenue. For FY28, revenue growth guidance was slightly revised to 55% to 60% YoY over FY27, compared to the over 60% guided previously.