Submission of Transcript of Q4 FY26 Earnings Conference Call held on 14th May 2026.
QPOWER · price
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Quality Power Electrical Equipments Limited reported its first-ever INR 1,000+ crore revenue in FY26 at INR 1,007 crores, with EBITDA of INR 236 crores (23.5% margin) and PAT of INR 185 crores (85% YoY growth). Q4 was the highest-ever quarter at approximately INR 310 crores in total revenue. The company flagged a non-cash INR 25.7 crore hyperinflationary adjustment under Ind AS 29 for its Turkish subsidiary Endoks, which impacted reported margins. The group order book stands at INR 1,400 crores (1.4x FY26 revenue), with fresh orders of over INR 600 crores added in Q4 alone. Management guided muted 15%-20% revenue growth for FY27 due to factory ramp-up (new Sangli facility expected July-August 2026), with 50%+ growth targeted in FY28. Promoters voluntarily forgave salary increments and dividends to conserve cash. The board approved an enabling resolution to raise up to USD 75 million for international expansion and acquisitions.
The company delivered strong operational performance beating its own guidance, with the order book providing multi-year revenue visibility. However, near-term growth guidance is conservative as the company invests in capacity expansion. The fundraising resolution signals potential dilution and strategic acquisitions ahead.