BSE: 544332
Fabtech Cleanrooms Limited
Builds modular cleanroom infrastructure — partitions, HVAC systems, ceilings and doors — for pharmaceutical, solar, data centre and semiconductor facilities across India. FY26 was a deliberate reference-building year, with management accepting lower margins to enter non-pharma sectors and cross the ₹200 crore consolidated revenue mark. Pharma and Renewable Energy now dominate the order book, with the latter overtaking pharma in mid-2026, led by a ₹65.10 crore order from a leading solar PV module manufacturer and the Waaree solar project. Manufacturing capacity includes a Hyderabad facility of 50,000 sq ft rated at 2,000 sq m of modular panels per day, plus a proprietary T-grade ceiling system rated for 1,500-1,600 kg loads. Raw materials — mainly steel and panels — account for 65.9% of revenue, the largest cost line. Execution is delivered through subsidiaries Kelvin (60.53% held), Advantek (34.99%) and Aart (28%), which together cover upstream cleanroom components. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Pharma cleanroom projects, Renewable energy cleanroom systems, Cleanroom partitions and doors, HVAC systems, Data centre cleanrooms, Semiconductor cleanrooms. Project-execution cleanroom engineering with modular manufacturing and long sales-to-installation cycles
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 150 | 219 |
| EBITDA (ex other income) | — | — |
| margin % | — | — |
| Owners' profit | — | — |
| EPS, as reported (₹) | 13.64 | 12.84 |
| ROE % · ROCE % | — · 16.9 | — · 19.6 |
| Debt / equity (x) | — | — |
| Cash from operations | 3 | (17) |
| Capex | (3) | 0 |
Exhibit 2: Quarterly performance, last 3 quarters
| ₹ crore | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|
| Revenue | 88 | 76 | 143 |
| Profit before tax | 9 | 5 | 15 |
| Net profit | — | — | — |
| EPS (₹) | 5.70 | 2.70 | 10.40 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,786 | 97.2 | 24.93 | 80.7 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 29,194 | 78.7 | 9.52 | 50.8 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 27,680 | 50.5 | 6.20 | — | 11.8 | 15.5 | — | 18.2 |
| KAYNES TECHNOLOGY IND LTD | 22,459 | 64.9 | 4.72 | 31.9 | 7.6 | 9.8 | — | 17.1 |
| JYOTI CNC AUTOMATION LTD | 21,078 | 65.5 | 10.53 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| LMW LIMITED | 17,356 | 99.3 | 6.05 | 56.2 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,374 | 469.7 | 3.93 | 40.0 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,314 | 48.4 | 7.32 | 50.2 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 22.1 | 26.5 | 57 of 130 | 57% |
| ROCE | 18.3 | 11.3 | 38 of 142 | 74% |
| Market cap | 511 | 279 | 59 of 141 | 59% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board meeting for half year results and preferential fundraising | results | low | — | — |
| 10 Oct 2026 · September 2026 orders of Rs 35.60 cr; total order book at Rs 468.18 cr | business updates | high | — | — |
| 8 Oct 2026 · RTA compliance certificate for Q2 FY27 filed with BSE | compliance | minimal | — | — |
| 29 Sept 2026 · AGM voting results: all 6 resolutions at Fabtech Cleanrooms passed unanimously | compliance | minimal | — | — |
| 28 Sept 2026 · Outcome of AGM | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading Window Closure from October 1, 2026 for H2 FY26 Results | compliance | minimal | — | — |
| 10 Sept 2026 · Fabtech Cleanrooms reports Rs 5.39 cr August orders; order book at Rs 469.28 cr | business updates | medium | — | — |
| 8 Sept 2026 · Auditor certifies receipt of funds for 3.80 lakh warrants preferential issue | compliance | minimal | — | — |
| 7 Sept 2026 · Promoter group gets 3.80 lakh warrants via preferential allotment | ownership changes | high | — | — |
| 4 Sept 2026 · Fabtech Cleanrooms files FY26 annual report; AGM set for Sept 28 | results | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.