RIR Power Electronics Posts 41% Profit Jump as SiC Reactors Installed in Odisha

RIR Power Electronics reported a 41.2% year-on-year rise in net profit to ₹4.45 crore for the quarter ended September 30, 2026, with revenue up 32.5% to ₹33.98 crore. ScanX said the Mumbai-based semiconductor manufacturer also installed silicon carbide epitaxial wafer reactors at its Odisha facility during the quarter.

RIR Power's Q2FY27 Earnings and Odisha Reactors

Adjusted EBITDA grew 29.67% to ₹5.66 crore, while the Adjusted EBITDA margin fell 36 bps to 16.65%. Basic earnings per share stood at ₹0.56, up 18.92% from ₹0.47 in Q2FY26. The company said Adjusted EBITDA excludes ESOP expenses of ₹1.03 crore in Q2FY27 and ₹0.72 crore in Q1FY27.

RIR Power Electronics makes silicon and silicon carbide thyristors, diodes, MOSFETs, power modules and custom rectifier systems for railways, defence, EVs, power generation and industrial customers across more than 20 countries, according to akta.pro company records. The company was founded in 1969 and is headquartered in Mumbai.

The Odisha facility is being built in two phases. Clean room construction and infrastructure for power sourcing through 33kV lines were completed in Q1FY27, and the SiC reactor erection and installation was completed in Q2FY27. Commercial production is expected to begin after remaining statutory and regulatory formalities, targeted for Q3FY27.

Dr. Harshad Mehta, Non-Executive Chairman, said the reactor installation marks a significant step toward advancing India's semiconductor capabilities under the Make in India initiative. N Ramesh Kumar, Managing Director and CEO, said the rise in PAT margin from 11.97% to 12.50% is a positive indicator amid geopolitical uncertainties, and that the Bhubaneswar facility is on schedule, awaiting final regulatory approvals.

RIR Power's ₹618 Crore SiC Investment Plan

According to akta.pro company records, RIR Power plans a ₹618 crore Silicon Carbide semiconductor manufacturing facility in Bhubaneswar, Odisha, covering epitaxial wafer growth through full device fabrication, with the state government covering half the investment and target completion in December 2027. The same records show standalone revenue of ₹90.87 crore for FY26, up 5.41% from ₹86.21 crore in FY25, and PAT of ₹6.72 crore for FY26, down from ₹8.28 crore in FY25.

SiC Reactor Installation and NSE Listing

On September 16, 2026, RIR Power completed installation of SiC epitaxial wafer reactors in Bhubaneswar as part of a ₹618 crore investment, ScanX reported. The company listed on the National Stock Exchange on July 16, 2026, after 40 years on BSE, Manufacturing Today India reported. For Q1 FY27, RIR Power reported revenue of ₹27.16 crore, a year-on-year growth of 29.28%, CXOToday.com reported.

RIR Power's Q3FY27 Production Target

RIR Power targets commercial production at the Odisha facility in Q3FY27, pending completion of remaining statutory and regulatory formalities. The company's own announcement covers the SiC reactor installation and the phased build-out of the site.