Quadrant Future Tek Limited has informed the Exchange about Transcript
QUADFUTURE · price
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Quadrant Future Tek filed the transcript of its first post-listing earnings call for Q1 FY26. Revenue for the quarter stood at Rs. 287 million, up about 12% YoY, entirely from the Specialty Cable division, with EBITDA margin at ~8.9% vs 7.3% last year. The Train Signalling (Kavach) division reported a loss of Rs. 10.09 crores (vs Rs. 4.24 crores in Q1 FY25) due to team building and testing costs, with revenue still nil pending ISA safety certification. Total order book is Rs. 984 crores — Rs. 829 crores Kavach loco order (1,200 locos, due December 11, 2025), Rs. 155 crores trackside order via RailTel partnership, and ~Rs. 40 crores in cables. Management said the company is among the last vendors awaiting ISA approval, with field trials set to begin shortly after one locomotive is handed over. The company also appointed a new CEO for the cable division and rehired a CFO, and received BIS approval for solar cables.
Investors will watch closely for ISA certification, which is the final gate before the Rs. 829 crore Kavach order starts delivering revenue. The growing Kavach division losses and management's refusal to give margin or revenue guidance add uncertainty, though the strong order book provides visibility if execution stays on track.