The Transcript Of Half Financial Year and Financial Year Ended On March 31, 2026 (H2FY26) Earnings Conference Call With The Investors.
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Rajesh Power Services Ltd reported FY26 revenue of ₹1,628 crore, up 52% year-on-year, with EBITDA rising 59% to ₹197 crore (12.1% margin) and PAT growing 48% to ₹143 crore (8.8% margin). H2FY26 revenue grew 30% to ₹990 crore, with ROCE of 43.65% and ROE of 35.26%, supported by a comfortable debt-equity ratio of 0.31. The company's unexecuted order book stood at ₹3,326 crore, with a targeted bid pipeline of approximately ₹6,000 crore and FY26 order inflows of ₹2,743 crore. Management guided for 40% revenue growth in FY27 with stable 11-12% EBITDA margins and 8-9% PAT margins, and announced entry into Battery Energy Storage Systems with a 65 MW/130 MWh GUVNL project expected to commission by September 2027.
The strong order pipeline of ~₹6,000 crore and BESS entry provide solid growth visibility, but Gujarat concentration of 85-90% in the order book and a temporary spike in receivables to ~78 days (attributed to March-end billing) are near-term watchpoints for investors.