Investor Presentation for financial year 2025-26
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RIR Power Electronics filed its FY26 investor presentation, highlighting its position as India's first vertically integrated Silicon Carbide (SiC) device maker. The Odisha SiC plant's cleanroom construction is complete with machinery installation expected by July 2026 end and epitaxial wafer production targeted for Q2 FY27. The company won its first overseas order for 5 kV SCR thyristors (to be completed by end of 2026) and announced a 25 kV–120 kA capacitor discharge semiconductor switch for defense/medical use. Current order backlog stands at Rs 17.5 Cr with 35–40% export contribution. FY26 revenue grew 5.4% YoY to Rs 90.87 Cr but PAT fell 18.8% to Rs 6.72 Cr with EBITDA margin contracting 158 bps to 11.64%. Q4 FY26 showed sequential recovery with revenue up 18% and EBITDA margin improving 603 bps QoQ to 10.29%, though still down 272 bps YoY.
The Odisha SiC plant ramp-up and new overseas order provide long-term growth optionality, but near-term profitability is under pressure with declining margins and a sharp YoY PAT drop in Q4. Shareholders should watch for timely commissioning of epitaxial wafer production in Q2 FY27, which is critical to the growth thesis.