Submission of Transcript of Earnings Concall dated 18.11.2025
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Awaiting price reaction for this filing.
Airfloa Rail Technology reported H1 FY26 total income of INR 90.98 crores, up ~7% YoY, with net profit of INR 12.09 crores, a strong 24% YoY jump. EBITDA stood at INR 22.46 crores. Management guided for FY26 revenue of INR 300+ crores and FY27 of INR 500-550 crores, supported by an active order book of over INR 455 crores and fresh orders of INR 1,013 crores secured in a single week from ICF and MCF. They expect the order book to cross INR 1,000 crores by March 2026. Management highlighted a pivot into defense (drones, anti-drone laser systems, radar, unmanned land systems) via a joint venture with Big Bang Boom Solutions, targeting a 50-50 rail-defence revenue split within two years. Capex of INR 20-30 crores is planned for a new 14-acre facility, with an additional INR 100-150 crores earmarked for defence over 1-1.5 years. The company is also developing door systems and vacuum toilet systems for Vande Bharat coaches.
Strong order inflows, healthy profit growth, and a credible diversification into defence could support investor confidence and drive a re-rating. However, execution of the 50-50 rail-defence split, timely capex delivery, and margin sustainability remain key watchpoints for shareholders.