The document is a transcript of the Q4 FY26 Earnings Conference Call held on Wednesday, 27th May 2026.
The event was an earnings call to discuss the company's quarterly and annual financial results for FY26 and provide business updates.
Management participants included Mr. Pratik Patel (Chairman & Managing Director) and Mr. Dharmendra Jain (Chief Financial Officer). Mr. Siddesh Chawan from Ernst & Young Investor Relations facilitated the call.
The company stated that the recording would be made available on the website within a day, and the transcript would be made available subsequently.
The call included standard safe harbor language regarding forward-looking statements.
Financial Highlights & Business Updates
FY26 Performance: Consolidated revenue reached INR757 crore, showing a modest 1% growth from INR746 crore in FY25. Standalone PAT margin declined from 14.38% to 13.38%.
Revenue Breakdown: Domestic business grew 18% YoY, partially offsetting a significant export shortfall of INR50-60 crore. Export business was impacted by US tariff instability (increases from 25% to 50%) and Middle East war disrupting shipments.
Order Book: Strong order book position of INR899 crore as of 1st May 2026, with INR627 crore from international markets and INR272 crore from India.
FY27 Guidance: Revenue projection of INR875 crore with PAT margin guidance of 12-13%. This is considered conservative given the current order book and already achieved billing of INR40-45 crore by May.
Subsidiary Performance:
Rodney Hunt: USD38-39 million order book
Waterfront Fluid Controls: GBP3 million order book
Jash Process Equipment (formerly WesTech): INR32 crore order book
Acquisition Update: The acquisition of Penstocks UK was completed in early April 2026 and will be merged with Waterfront Fluid Controls. The combined entity is targeted to reach INR125-135 crore revenue in 3-4 years.
Expansion Plans:
Rodney Hunt new plant in Houston and Saudi Arabia facility now targeted for commissioning before December 2027 (delayed due to cost escalations).
Current manufacturing capacity can support INR1200 crore revenue; with new facilities, capacity will exceed INR1500 crore.
Five-Year Plan: Target to double revenue from INR757 crore to over INR1500 crore in five years.
Additional Notes Section
The document is a complete transcript of the earnings conference call, including management presentation and Q&A session with analysts.
The transcript contains detailed financial performance data, operational updates, and strategic guidance.
