Prostarm Info Systems Limited – Investor Presentation Summary

Key Operational Highlights

  • Total order book of ₹12,022 million as of April 2026 with 64 projects in hand
  • Successfully commissioned rooftop Solar PV Power Plants totaling 10.56 MW at over 100 sites
  • Manufacturing capacity across five units: Unit-1 Pune (55,500 kVA/kW, 45% utilization), Unit-2 Pune (60,000 kVA/kW, 29% utilization), Unit-3 Navi Mumbai (100,000 kWh, 16% utilization), Unit-4 Jhajjar (1.2 GWH, commissioning Q1-FY27), Unit-5 Bakrol (1-600 KVA, commissioning Q2-FY27)
  • Key drivers include expansion into BESS manufacturing, strong government contracts, and diversified product portfolio

Segment-wise Performance

  • Manufactured Power Solution Products: UPS systems, inverters, solar hybrid inverters, lithium-ion battery packs, servo-controlled voltage stabilizers, isolation transformers
  • Third-Party Power Solution Products: Batteries, solar panels, and allied products
  • System Integration Solutions: End-to-end design, supply, deployment of enterprise technology infrastructure
  • Solar EPC Services: Complete engineering, procurement, and construction for solar PV plants
  • Value Added Services: Rental services, after-sales service, AMC contracts

Financial Highlights

Q4-FY26 Performance:

  • Revenue from Operations: ₹1,045 million (YoY +27.4%, QoQ -34.9%)
  • EBITDA: ₹109 million (EBITDA Margin: 10.43%)
  • PAT: ₹79 million (PAT Margin: 7.56%)
  • Diluted EPS: ₹1.34 per share

FY26 Annual Performance:

  • Revenue from Operations: ₹3,858 million (YoY +10.0%)
  • EBITDA: ₹463 million (EBITDA Margin: 12.00%)
  • PAT: ₹330 million (PAT Margin: 8.55%)
  • Diluted EPS: ₹5.82 per share

Drivers of financial performance: Higher revenue growth offset by increased procurement costs and employee expenses related to expansion initiatives. Q4 performance impacted by supply chain disruptions from West Asia conflict delaying order execution.

Key Risks: Supply chain disruptions, raw material price fluctuations, geopolitical uncertainties affecting project timelines

Geographical Revenue Split

  • Domestic focus with pan-India presence across manufacturing and service infrastructure
  • No specific export/regional breakdown provided in presentation

Balance Sheet Snapshot

FY26 Position:

  • Share Capital: ₹589 million
  • Other Equity: ₹2,278 million
  • Total Equity: ₹2,867 million
  • Non-Current Borrowings: ₹8 million
  • Current Borrowings: ₹833 million
  • Trade Payables: ₹1,463 million
  • Property, Plant & Equipment: ₹161 million
  • Capital Work in Progress: ₹208 million
  • Inventories: ₹732 million
  • Trade Receivables: ₹2,546 million
  • Cash and Cash Equivalents: ₹12 million

Financial Health Insights: Strong balance sheet with net debt effectively at zero (long-term debt reduced from ₹34 million to ₹8 million). Working capital increased due to higher receivables, inventory build-up, and supplier advances for large project execution.

Capex & Cash Flow Health

  • Capital Expenditure: ₹250 million allocated for Jhajjar BESS facility
  • BESS facility commissioning expected in Q1-FY27
  • Gujarat UPS manufacturing expansion expected in Q2-FY27
  • Investment Rationale: Focus on capacity expansion, technology upgrades, and positioning as BESS OEM

Strategic & R&D Initiatives

  • Strategic expansion into BESS manufacturing with 1.2 GWh facility in Jhajjar, Haryana
  • Received LOA from Bihar State Power for 120 MWh BOOT project with 12-year monthly rental model
  • Secured LOA from KPTCL for 150MW/300MWh BESS under BOO model for 12 years monthly rental
  • Investments in lithium-ion battery technology with smart Battery Management System (BMS)
  • Expected impact: Enhanced large-scale energy storage capabilities and recurring revenue streams
  • Strategic Rationale: Position as one of India's few BESS OEMs, control over quality and supply chain

Industry Trends & Business Environment

Power Backup Market:

  • India's power inverter market valued at USD 6 billion in 2024, expected to reach USD 22 billion by 2034 (15% CAGR)
  • Indian UPS market projected to grow at 8-10% CAGR during 2023-28

BESS Market:

  • India's BESS market to grow from under 0.2 GW to 66 GW by 2032
  • Market valued at USD 7.8 billion in 2024, projected to reach USD 32 billion by 2030 (27% CAGR)

Solar EPC Market:

  • Government targets 280 GW renewable energy by 2032, including 81 GW solar
  • Strong growth in rooftop solar adoption (34% market growth in 2024)

Impact on Company: Rising demand for power backup and energy storage solutions creates significant growth opportunities across UPS systems, lithium batteries, and BESS solutions

Management Commentary & Growth Outlook

Strategic Outlook: Company maintains healthy revenue visibility supported by robust order book of ₹12,022 million. Confident of delivering strong performance in FY27 with deferred March orders expected to execute in Q1-FY27.

Growth Drivers: Multiple prestigious orders secured during FY26 including BESS projects from Adani, KPTCL, and BSPGCL, along with orders from Larsen & Toubro, South Central Railways, SAIL, and India1 Payments.

Pipeline Visibility: Bids aggregating approximately ₹2,567 million under evaluation

Risks and Opportunities: Geopolitical disruptions affecting supply chain, but rising demand for energy storage solutions continues to create growth opportunities

ESG Updates

  • Commitment to environmental sustainability through responsible disposal and recycling of end-of-life products
  • BESS solutions help reduce reliance on diesel gensets and lower CO₂ emissions
  • Active role in promoting clean energy adoption through solar EPC services

Digital Transformation

  • System Integration Solutions enabling modernization of legacy systems
  • Enhanced enterprise security and monitoring capabilities
  • Support for emerging technologies including cloud, IoT, and AI-led environments