BSETelge Projects LtdMediumNeutral
Announced Tue, 19 May · 15:23 IST

Investor Presentation for Financial Year ended March 31, 2026.

Mgmt Guided Margin PressureOrder Pipeline DisclosedAnalyst Day Multiyear TargetsPromoter Disclosed Acquisition PlansInvestor Communications View source PDF

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AI summary

Telge Projects reported FY26 revenue of Rs. 40.2 crore, up 57% YoY, with EBITDA of Rs. 9.0 crore (22.4% margin) and PAT of Rs. 5.9 crore. The company completed its IPO and acquired Edward Farr Architects Inc. in the US during the year. Q4 FY26 saw sequential revenue decline to Rs. 14.4 crore from Rs. 25.6 crore in Q3, with EBITDA margin compressing sharply to 34% in Q4 from ~38% in Q3, reflecting seasonal or project-stage billing patterns. The order book stands at Rs. 25 crore with Rs. 6 crore of pipeline RFQs in bidding. Management targets 70-80% YoY organic growth and notes technology investments will support margin expansion. EBITDA margin of 22.4% in FY26 represents a compression from 32.2% in FY25, attributed to upfront people investments and scaling costs.

Likely market impact

Strong top-line growth (57% YoY) is offset by margin compression (FY25: 32.2% vs FY26: 22.4%), indicating execution costs from IPO-related scaling. The disclosed order book of Rs. 25 crore and pipeline RFQ of Rs. 6 crore provide near-term revenue visibility. The shift from execution vendor to strategic engineering partner is a long-term positive.