Financial Results Summary

Quarterly Performance (₹ Crore)

| Particulars | Q1 FY26 | Q1 FY27 | Y-o-Y Change (%) |

| Total Income | 41.43 | 42.44 | 2.44 |

| EBITDA | 3.99 | 2.93 | (26.56) |

| EBITDA Margins (%) | 9.62 | 6.90 | (272.35 BPS) |

| PAT | 1.77 | 0.50 | (72.00) |

| PAT Margins (%) | 4.27 | 1.17 | (310.32 BPS) |

Key Financial Metrics

  • Revenue: ₹42.26 crore for Q1 FY27, representing 2.99% YoY growth over Q1 FY26
  • EBITDA: ₹2.93 crore with margins at 6.90%
  • PAT: ₹0.50 crore compared to ₹1.77 crore in Q1 FY26

Operational Highlights

The revenue growth was supported by commencement of order intake at the Malur, Bangalore facility, which is progressively ramping up towards full capacity utilization. The Malur facility has been commissioned and commercialized but has not yet reached full potential, with meaningful capacity utilization expected to be visible over FY27.

Cost Structure Analysis

EBITDA margins moderated to 6.90% primarily due to higher employee costs associated with manpower build-up ahead of full-scale Malur plant operations. Finance costs and depreciation also increased, largely on account of the lease arrangement for the Malur facility land. Under Ind-AS accounting, this is recognized partly as depreciation on the right-of-use asset and partly as finance cost on the corresponding lease liability.

Management Commentary

Mr. Harshad Patel, Managing Director of Rishi Laser Limited, provided the following insights:

  • Product approvals from the largest customer are in place
  • Billing and shipments from the Malur plant have commenced
  • The quarter's numbers reflect transitional costs of the ramp-up phase rather than any change in underlying demand or strategy
  • Employee cost increase is due to manpower build-up at Malur that will be progressively utilized
  • Lease-related costs for Malur facility land are transitional costs tied to the plant's ramp-up phase

Forward Guidance

  • Malur facility expected to contribute approximately ₹60 crore in revenue during FY27
  • Target of ₹100 crore from the facility by FY29
  • 20% revenue CAGR over the next three years
  • Supported by deeper automation and Industry 4.0 integration across facilities
  • Focus on operational discipline and margin recovery as capacity utilization improves
  • Expect capacity utilization and operating leverage to improve progressively through remainder of FY27

Company Background

Rishi Laser Limited, incorporated in 1992, provides end-to-end metal fabrication services from design and cutting to welding, coating and assembly. The company operates six manufacturing facilities across India and serves leading OEMs across construction, energy, transportation, and heavy engineering sectors.