A Earnings Call held on 14th May 2026, a Transcript of the same is sent herewith.
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Yash Highvoltage reported landmark FY26 results with revenue of INR 235.1 crores (up 57% YoY), EBITDA of INR 60.4 crores (up 75%) with margins expanding 260 bps to 25.7%, and PAT of INR 37.4 crores (up 75%). The order book stands at INR 400+ crores providing strong execution visibility. Management guided for continued 40-42% CAGR growth over the next 4-5 years, targeting INR 500+ crores order booking for FY27. The greenfield expansion at Jarod is on track for trial production by Q2 FY27 with commercial production in H2 FY27, expanding capacity from ~10,000 to 15,000 bushings. The facility will enable localization of RIP bushings (expanding from 220kV to 550kV capability) reducing import dependency. Sukrut acquisition is being operationalized with INR 150-160 crores revenue target in 4-5 years. The USA subsidiary is now operational with European distribution partnerships active.
Strong execution and margin expansion demonstrate operational leverage. The greenfield facility and Sukrut acquisition provide multi-year growth visibility. Management maintained FY27 EBITDA guidance at 24-25% (new factory costs) with margin expansion expected from FY28 onwards as localization reduces input costs and export opportunities open up.