Manufactures and sells electrical equipment, with key business contributions in FY25 coming from aluminium conductor exports to Ghana worth Rs 1,214.86 lakhs and a pulses trading segment worth Rs 377.07 lakhs, according to the FY25 AGM filing. FY26 revenue was Rs 3,166.73 lakhs, down about 5.7% from Rs 3,357.92 lakhs in FY25. Profit after tax fell to Rs 33.71 lakhs in FY26 from Rs 79.95 lakhs the year before, and Q1 FY27 revenue dropped 46% year-on-year to Rs 541.50 lakhs. Materials are by far the largest cost, accounting for 74.1% of revenue. Borrowings were reduced by Rs 457.62 lakhs during FY26 and the Board recommended a 10% dividend on face value. The company is based in Vijayawada, Andhra Pradesh, and is listed on BSE with promoter and promoter group holding roughly 89.4% of votes at the FY25 AGM. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Aluminium conductor exports, Pulses trading. Small, diversified electrical equipment maker with an adjacent commodity trading line, materials-heavy cost base
| ₹ crore · consolidated |
|---|
| Revenue |
| EBITDA (ex other income) |
| margin % |
| Owners' profit |
| EPS, as reported (₹) |
| ROE % · ROCE % |
| Debt / equity (x) |
| Cash from operations |
| Capex |
| ₹ crore | Q1 FY26 |
|---|---|
| Revenue | 10 |
| Profit before tax | 0 |
| Net profit | 0 |
| EPS (₹) | 0.00 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WAAREE ENERGIES LIMITED | 75,508 | 19.8 | 5.03 | 12.2 | 25.9 | 29.0 | — | 20.3 |
| APAR INDUSTRIES LTD. | 70,293 | 59.5 | 13.03 | 36.9 | 18.1 | 21.9 | 29.1 | 12.0 |
| PREMIER ENERGIES LIMITED | 44,224 | 26.2 | 10.26 | 18.0 | 35.0 | 25.7 | — | 30.8 |
| EMMVEE PHOTOVOLTAIC PWR L | 23,872 | 17.9 | 6.46 | 13.3 | 29.3 | 31.2 | — | 36.3 |
| MTAR TECHNOLOGIES LIMITED | 22,531 | 168.8 | 27.39 | 120.2 | 11.4 | 12.4 | 28.9 | 25.8 |
| DIAMOND POWER INFRA LTD | 19,448 | 98.9 | — | 94.7 | (26.2) | 8.6 | — | 12.3 |
| AVALON TECHNOLOGIES LTD | 15,293 | 114.3 | 21.19 | 76.2 | 15.6 | 20.0 | — | 12.5 |
| GENUS POWER INFRASTRU LTD | 9,830 | 13.7 | 4.43 | 12.1 | 26.7 | 22.7 | 50.8 | 22.1 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 28 Aug 2026 · Notice of 36th AGM on September 26, 2026; 10 percent dividend recommended | board shareholder meetings | medium | — | — |
| 19 Aug 2026 · Record date fixed for FY26 dividend - 18 Sep 2026 | corporate actions | high | — | — |
| 19 Aug 2026 · Incap Ltd sets book closure for AGM and FY26 dividend | corporate actions | high | — | — |
| 1 Aug 2026 · INCAP Q1 FY27 revenue drops 46% YoY, PAT falls to Rs 11.09 lakh | results | high | — | — |
| 15 Jul 2026 · Board meeting on Aug 1, 2026 to consider Q1 FY27 results | results | low | — | — |
| 10 Jul 2026 · RTA confirms no demat or remat requests in Q1 FY27 | compliance | minimal | — | — |
| 1 Jul 2026 · Incap Ltd: No undisclosed info, price rise is market-driven | compliance | minimal | — | — |
| 30 Jun 2026 · BSE seeks clarification from Incap Ltd on significant price movement | compliance | medium | — | — |
| 30 May 2026 · Board had recommended dividend @ 10% on face value, subjec to approval of shareholders. Board Proposed to conducted AGM on 26th September, 2026 | results | high | — | — |
| 30 May 2026 · Outcome of the Board Meeting | results | high | — | — |
| 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 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| EBITDA margin | 5.1 | 12.6 | 43 of 51 | 16% |
| Market cap | 44 | 641 | 46 of 56 | 18% |
| 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 |
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.
