Please find enclosed Transcript of the Earning Conference Call -Q4 FY 26
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Trishakti Industries reported FY26 revenue of INR 32.44 crores, up ~90% year-on-year, with EBITDA of INR 20.21 crores (margin ~62%) and PAT of INR 7.66 crores (margin ~25%). The company scaled its crane rental fleet from 8 machines in FY24 to over 140 currently and deployed INR 210 crores of CapEx in FY26, far exceeding the original INR 100 crore guidance. Management guided for FY27 revenue of INR 62.5 crores and FY28 revenue of INR 95 crores, based on a INR 400 crore CapEx plan, targeting a ROC of 22-25% with ~3% monthly gross yields and a cost of borrowing around 5%. The FY27 order book stands at INR 62+ crores, and the CEO expressed strong confidence in sustained demand from tier-1 clients like L&T, Reliance, Tata Steel, and Jindal. Receivable days are elevated at ~200 days due to a legacy family settlement expected to normalize in FY27, while borrowings of INR 65 crores and trade payables of INR 159 crores reflect the ongoing hyper-CapEx expansion phase.
Strong operational growth and aggressive CapEx expansion signal a high-growth phase for shareholders, but rising debt, elevated payables, and stretched receivables mean margins and returns could remain lumpy until the fleet is fully deployed. Near-term stock movement may hinge on execution of the INR 400 crore CapEx plan and the order book translating into the projected FY27-FY28 revenue ramp.