Presentation on Financial Results for the financial year ended March 31, 2026
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Systematic Industries reported FY26 total revenue of INR 5,563 Mn, up 23.9% YoY, with PAT rising 16.4% YoY to INR 210 Mn. EBITDA grew 9.7% to INR 405 Mn but margin slipped to 7.3% from 8.2%. The company became net debt-free as on March 31, 2026, with borrowings cut sharply and net worth rising to INR 2,014 Mn. Key wins include the first EPC contract from PGCIL (400KV Agra-Kumher OPGW project) and an INR 100 Mn+ order from Indian Railways for armoured optical fibre cables. Management guided for EBITDA margin expansion to 10% over the next two years, driven by a richer mix of OPGW, OFC and ACS products. Revenue grew at a 20% CAGR over FY23–FY26, while PAT compounded at 49%, though ROE moderated to 10.4% from 22.3% on a larger equity base.
Positive for shareholders — strong revenue growth, net debt-free balance sheet, and clear margin expansion roadmap. However, near-term margin compression and a sharp drop in ROE may cap upside until new-age product mix scales up. Order wins in OPGW and railways validate the growth story.