Please find attached a copy of the Earnings/ Conference Call transcript in respect of Q2FY2025-26 Earnings / Conference Call Meeting of the Company dated 17th November, 2025.
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RIR Power Electronics reported a strong Q2FY26 with revenue of ₹25.64 crores, up 36% year-on-year and 22% sequentially. EBITDA grew 77% YoY to ₹4.36 crores with margins expanding nearly 400 basis points to 17.01%, while profit after tax more than doubled to ₹3.15 crores (PAT margin at 11.97%). Management highlighted significant progress on its ₹618 crore Silicon Carbide (SiC) Ecosystem facility at Bhubaneswar, with the Odisha government releasing ₹26 crores of fiscal support. The company delivered 10,000 SiC devices to the Indian Navy in Q2 — a first for India. The EPI reactor is expected to go live by January 2026, with Phase 1 capex of ~₹225 crores funded through a ₹110-115 crores Odisha government grant, ₹85 crores already raised via preferential issue, and ~₹30 crores of debt. Management targets ~₹60 crores in EPI revenue next year (65% export) and aims for the long-term projection of ₹800 crores from new businesses plus ₹400 crores from legacy by FY31.
Strong quarterly execution with sharp margin expansion and a clear capex roadmap supports investor confidence. Progress on the SiC fab, government backing, NSE listing by March 2026, and ongoing strategic investor talks could act as positive catalysts for the stock, though delivery on multi-year targets remains key.