Inflame Appliances Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Published 8 Aug 2026 | Consumer Durables | Market Cap: ₹165 Cr

Inflame Appliances targets a consistent 15% year-on-year revenue growth for the next 3-4 years (Page 22). The company targets a consistent revenue growth rate of around 15% year-on-year for the next 3-4 years (Page 22).

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

Price

₹219

Market Cap

₹165 Cr

P/E Ratio

28.4

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📊 Revenue & Sales Performance

→Inflame Appliances targets a consistent 15% year-on-year revenue growth for the next 3-4 years (Page 22).
→By FY28, new products like dishwashers, wine chillers, and built-in ovens are expected to contribute 30-35% of total revenue, reducing chimney revenue share to 60-65% (Page 28).
→Chimney production volumes are expected to reach around 4 lakh units in FY27 with potential to exceed this as capacity utilization improves and demand grows (Pages 15, 22).
→Capacity expansions in Panchkula and Hyderabad plants will support higher volumes with a combined capacity of 6 lakh chimneys; near full utilization is planned as demand solidifies (Pages 22, 15).
→Market share guidance aims to grow from around 10% in 2022 to over 30% in next couple of years (Page 19).
→Improved asset turnover and working capital management coupled with expanding product mix supports sustained growth (Page 29).

📈 Profitability & Margins

→The company targets a consistent revenue growth rate of around 15% year-on-year for the next 3-4 years (Page 22).
→EBITDA margins are expected to improve as production volumes increase; manpower cost reduced from ~14% to 10-11%, positively impacting margins (Page 22).
→Current EBITDA margins are around 12%, with expectations of further improvement with higher volumes (Page 22).
→PAT margins are not explicitly guided, but management is confident about sustained growth and profitability (Page 21).
→Expansion plans at Panchkula and Hyderabad plants aim to increase capacity and revenues, with potential for substantial increases in asset turnover and earnings next financial year (Page 29).
→Introduction of new products and diversification (hobs, built-in refrigerators, wine coolers) will help de-risk and support revenue growth (Page 14).
→Cost of raw materials has stabilized and improved, supporting margin expansion (Page 19).

🏗️ Capital Expenditure Plans

→CapEx for Panchkula plant expansion is estimated at INR 9-10 crore, primarily for constructing a multi-storey building and upgrading assembly lines and test labs. (Page 6)
→The construction has already begun, funded through sanctioned bank debt. (Page 6)
→Hyderabad plant currently has no immediate further modifications planned; focus is on reaching optimal utilization first. (Page 6)
→Further expansion or modifications at Hyderabad will be considered once capacity utilization reaches around 18,000-20,000 chimneys per month. (Page 6)
→New products (2-3) to be launched soon, requiring additional infrastructure and manufacturing capabilities; the company has formed joint ventures with specialized companies holding majority stakes to improve component sourcing and quality. (Pages 4, 28)
→Plans to increase land space and working sheds at Hyderabad, including converting an existing shed into a multi-storey building to boost capacity. (Page 4)

💰 Fundraising & Capital Structure

→There is no mention of any current or planned equity fundraising in the call.
→The company is undertaking CapEx of approximately INR 9-10 crore for expansion at the Panchkula plant.
→This CapEx is being funded through bank debt, as debt has already been sanctioned and construction has commenced.
→No indication of additional equity or debt fundraising beyond this sanctioned bank loan was provided.
→The company is comfortable with its current working capital management and debt levels as of Q2 FY26.

📋 Order Book & Pipeline

→As of April, order visibility was around 14,000–18,000 units monthly.
→By September, monthly order visibility increased to approximately 42,000 to 45,000 units.
→November order visibility stands at 38,000 to 40,000 units.
→Current run rate is about 30,000 to 32,000 units per month.
→Order book has seen peaks up to 60,000 units in some months.
→Capacity constraints limit order acceptance, capping current supply for some customers (e.g., Hindware order reduced from 10,000 to 6,000–7,000 units).
→New Panchkula expansion planned to add 15,000 units capacity from April to meet growing demand.
→Multiple customers have expressed demand for 7,000–8,000 units per month starting April.
→Visibility firmly established for 35,000–40,000 units monthly for 10 out of 12 months annually.
→Built-in product demand is rising, supporting extended order book.

Key Metrics

Frequently Asked Questions

What were Inflame Appliances Ltd Q2 FY26 results?

What is Inflame Appliances Ltd share price analysis?

Inflame Appliances Ltd currently shows a neutral. The stock trades at a P/E of 28.4 with a market cap of ₹165 Cr. Investors should review the full earnings analysis for detailed insights.

Is Inflame Appliances Ltd planning capital expenditure?

CapEx for Panchkula plant expansion is estimated at INR 9-10 crore, primarily for constructing a multi-storey building and upgrading assembly lines and test labs.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.