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HVAX Technologies Ltd

Q2 FY26Construction

HVAX Technologies Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹640
Market cap₹172 Cr
P/E12.0
Updated23 Aug 2026
Read4 min read

What the Q2 FY26 call signalled

3 of 4 strong

RevenueGood growth
MarginMargins steady
CapexCapex planned
Order bookOrder book rising

The short version

HVAX Technologies aims for a sustained revenue growth of around 35% year-on-year over the next couple of years. HVAX Technologies targets a revenue growth of around 35% year-on-year for the next couple of years.

From HVAX Technologies Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Good growth
  • HVAX Technologies aims for a sustained revenue growth of around 35% year-on-year over the next couple of years.
  • The company is focused on expanding its presence in global markets and entering new segments like hospital, semiconductor, and solar industries.
  • Current order book is INR350 crores with a healthy pipeline of INR650-680 crores, indicating strong future execution visibility.
  • H2 FY '26 is expected to be stronger than H1 FY '26 in terms of revenue, supported by installation and design-led projects.
  • Export orders constitute around 70%-85% of revenues, with better margin profiles driving growth.
  • Strategic acquisitions (e.g., Krew Instruments) and partnerships aim to diversify offerings and accelerate growth.

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Profitability & Margins

See what HVAX Technologies Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Capex planned
  • HVAX Technologies Ltd is actively pursuing strategic acquisitions to diversify into new industries such as hospitals, semiconductors, and solar energy.
  • The recent acquisition of Krew Instruments provides a direct entry into the hospital segment, enhancing growth potential through synergies and expanding the customer base.
  • The company is cautious about new industry margins, implying careful evaluation of future capital investments.
  • They are focused on expanding design-build project capabilities, especially in export markets, by establishing an in-house design and consultancy team.
  • The company may raise funds via debt or equity depending on the size and nature of future acquisitions but intends to avoid unnecessary debt.

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Top-ranked in Construction

Ranked on what management guided this quarter

Guidance-ranked
Rev 1Mar 3
2Solarworld Ene.
Rev 1Mar 3
3
Rev 1Mar 3
4
Rev 1Mar 3
5
Rev 1Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

See what HVAX Technologies Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

Order book rising
  • The current order book is around INR 350 crores, primarily comprising pharma and hospital projects (98%-99% pharma).
  • Out of the order book, approximately 70%-75% are export orders, with 85% of revenues currently from exports.
  • The INR 350 crores order book is expected to be executed over one to two years.
  • There is also mention of a pipeline of INR 680 crores, which is realistically convertible into FY 2026.
  • The company expects stronger execution and revenue in H2 FY '26 as design-led and installation activities pick up.

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What HVAX Technolog.'s management said in earlier quarters

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  • K2 Infragen (Q2 FY26)

    For H1-FY26 (half year ending September 2025), Revenue from Operations was INR 909 million, up 76.5% YoY from INR 515 million in H1-FY25. Key investor presentat

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    650 Crores (Page 9). Key investor presentation takeaways from Konstelec Engg.'s Q2 FY26 investor presentation — and how it ranks against sector peers.

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Frequently Asked Questions

What were HVAX Technologies Ltd Q2 FY26 results?

HVAX Technologies aims for a sustained revenue growth of around 35% year-on-year over the next couple of years. HVAX Technologies targets a revenue growth of around 35% year-on-year for the next couple of years.

What is HVAX Technologies Ltd share price analysis?

HVAX Technologies Ltd currently shows a moderate growth signal based on ranking data. The stock trades at a P/E of 12.0 with a market cap of ₹172 Cr. Investors should review the full earnings analysis for detailed insights.

Is HVAX Technologies Ltd planning capital expenditure?

HVAX Technologies Ltd is actively pursuing strategic acquisitions to diversify into new industries such as hospitals, semiconductors, and solar energy.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.