Transcript of Earnings Call Q4 FY26
CAPACITE · price
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Capacit'e reported Q4 FY26 revenue of INR712 crores (up 6% YoY) and full-year FY26 revenue of INR2,623 crores (up 12% YoY). EBITDA for the year came in at INR427 crores with a 16.3% margin, meeting guided range. The company achieved order inflow of INR4,446 crores in FY26, beating its INR3,500 crore guidance, and enters FY27 with a standalone order book of INR13,498 crores. Management guided for 20% revenue growth in FY27 and FY28, and an EBITDA margin range of 15.5%-16.5% (worst case) to 16.5%-17.5% (if geopolitical conditions ease), citing a ~18% spike in aluminum and electrical commodity prices since February 2026 that is not fully covered by escalation clauses. Working capital days improved by 43 days, and net debt is below INR170 crores. Operating cash flow surged to INR224 crores from INR52 crores in the prior year.
The company demonstrates strong execution and balance sheet improvement, but commodity price inflation and labour shortages create margin pressure. The 20% revenue growth guidance is backed by a healthy order book, though geopolitical uncertainty keeps EBITDA guidance at a wide range.