Financial Performance Summary

Consolidated Financial Results (₹ in millions)

| Particulars | Q4 FY26 | Q4 FY25 | YoY Growth | Q3 FY26 | QoQ Growth | FY26 | FY25 | YoY Growth |

| Revenue | 2,775 | 2,507 | 11% | 2,102 | 32% | 8,769 | 7,671 | 14% |

| Other Income | 35 | 38 | -8% | 37 | -6% | 163 | 133 | 22% |

| Total Income | 2,810 | 2,545 | 10% | 2,139 | 31% | 8,932 | 7,804 | 14% |

| EBITDA | 350 | 262 | 34% | 238 | 47% | 1,108 | 821 | 35% |

| EBITDA Margin % | 12% | 10% | - | 11% | - | 12% | 11% | - |

| EBIT | 311 | 218 | 43% | 200 | 55% | 960 | 665 | 44% |

| EBIT Margin % | 11% | 9% | - | 9% | - | 11% | 9% | - |

| Profit After Tax | 186 | 135 | 37% | 118 | 57% | 586 | 381 | 54% |

| PAT Margin % | 7% | 5% | - | 6% | - | 7% | 5% | - |

| Reported Diluted EPS | 1.33 | 0.96 | - | 0.85 | - | 4.22 | 2.81 | - |

Key Operational Highlights

Order Book Position:

  • Order book as on March 31, 2026: ₹12,540 million
  • Order book as on March 31, 2025: ₹5,253 million
  • Order book growth: More than doubled year-on-year
  • Execution timeline: Next 12-36 months

Business Segments Performance:

  • Strong execution across large-scale marine and infrastructure contracts
  • Legacy leadership in marine and defence segments continues to act as solid anchor
  • Structural hyper-growth witnessed in data centre sector
  • Growing presence in EV charging and energy management

Margin Expansion Drivers:

  • Focus on operational efficiencies leading to margin improvement
  • Volume growth coupled with improving scale benefits
  • Capability to deliver higher-value, end-to-end solutions
  • EBITDA margin expanded to 12% in FY26 from 11% in FY25
  • PAT margin expanded to 7% in FY26 from 5% in FY25

Strategic Positioning and Growth Outlook

Market Opportunities:

  • Company strategically primed to be pivotal turnkey partner in data center space
  • Targeted capabilities in data centers scaling rapidly
  • Demand for reliable, complex electrical and power management solutions expanding exponentially
  • Supporting critical applications across naval platforms, shipyards, data centers, oil and gas, metros, airports, ports, and large commercial infrastructure

Operational Capabilities:

  • Proactive investments in R&D, technology, and manufacturing capacity
  • Advanced manufacturing facilities in Mumbai and Goa
  • Type-tested LV and MV solutions
  • End-to-end capabilities covering design, manufacturing, installation, commissioning, and lifecycle support
  • Trusted partner to Indian Navy, Coast Guard, and leading industrial customers
  • Growing global footprint across Middle East and Southeast Asia

Management Commentary (Mr. Vinay Uchil, Chairman & Executive Director):

  • Delivered robust operational and financial performance in Q4 & FY26
  • Growth visibility has never been stronger with record order book
  • Enter new financial year with high confidence in ability to compound growth responsibly
  • Maintain strict financial discipline
  • Focus on creating sustainable, long-term value for all stakeholders

Company Background

  • Established in 1978 and headquartered in Mumbai
  • Indigenous turnkey solutions provider specializing in electrical distribution, control and automation
  • Integrated technology solutions for marine, defence, industrial, and infrastructure sectors
  • Driven by reliability, indigenous innovation, and customer-focused engineering