Quality Power Electrical Equipments Ltd Q1 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 6 Aug 2026 | Electrical Equipment | Market Cap: ₹8.7K Cr
Revenue guidance for FY 2026 is conservatively set between INR 700 crores and INR 800 crores. Quality Power expects significant growth in PAT as synergies from acquisitions like Mehru play out, with Mehru's profitability improving by 47% in its first full quarter post-acquisition.
From Quality Power Electrical Equipments Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹1,306
Market Cap
₹8.7K Cr
P/E Ratio
71.9
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Quality Power Electrical Equipments Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹281 Cr, net profit ₹51 Cr.
Full financials →📊 Revenue & Sales Performance
- →Revenue guidance for FY 2026 is conservatively set between INR 700 crores and INR 800 crores.
- →Organic expansion shows strong growth potential; excluding Mehru, Q1 revenue was about INR 130 crores, indicating 9x expansion.
- →New capacities at Cochin and Mehru expected to contribute incremental revenue; Sangli capacity expected to go live next year.
- →Order inflow targeted to add approximately INR 500 crores by year-end, maintaining about one year of order book cover.
- →Global demand for high-voltage equipment, especially above 400 kV, indicates sustained long-term growth.
- →Planned acquisitions and capacity expansions are expected to augment revenue and margins over the next 2-3 years.
- →Mehru's capacity utilization and margins are improving, contributing to consolidated revenue growth.
- →The global coil factory in Sangli aims for peak revenue between INR 1,500 - 2,000 crores when fully operational.
📈 Profitability & Margins
- →Quality Power expects significant growth in PAT as synergies from acquisitions like Mehru play out, with Mehru's profitability improving by 47% in its first full quarter post-acquisition.
- →EBITDA margins on a consolidated basis are guided in the high teens, between 17%-20%, with an aim to bring Mehru’s margins up from around 9.5% to mid-teens within the next four quarters.
- →Revenue guidance for FY 2026 is INR700-800 crores, with organic expansion showing a 9x increase excluding Mehru.
- →The new factories (Cochin, Mehru capacity expansion) will contribute incremental capacity and revenue, supporting growth without revision to current revenue guidance yet.
- →The company is bullish on long-term structural demand globally, especially in high-voltage segments (400 kV+), indicating sustained order inflows and profitability growth.
- →Margins remain stable or improving post-acquisitions, with a focus on blending acquisitions that might temporarily reduce margins but increase absolute PAT.
🏗️ Capital Expenditure Plans
- →Current capex post-IPO is around INR125 crores, including equipment purchased during IPO (Page 8).
- →New capacity expansions include facilities in Sangli, Cochin, and Mehru expected to be operational by November 2025, with incremental revenue potential contributing to consolidated guidance of INR700-800 crores for FY 2026 (Pages 12, 9).
- →Investment in backward integration like CPC factory (electrical magnet wire) planned to improve supply chain and margins (Page 6).
- →Acquisition strategy remains active, with ongoing talks for technology and culture-fit companies but no concluded deals yet (Page 9).
- →Building capacity to increase ability to fulfill more than 50-70% of HVDC orders in future, addressing current supply chain and manufacturing bottlenecks (Page 6).
- →Focus on execution and stabilization of new plants prioritized over immediate revenue generation from these facilities (Page 9).
💰 Fundraising & Capital Structure
📋 Order Book & Pipeline
- →Current order book stands at approximately INR 775 crores.
- →The management aims to maintain about one year to 14 months of order book coverage.
- →Started the quarter with INR 750 crores order book; achieved INR 194 crores in sales and increased order book by INR 25 crores.
- →Additional HVDC orders expected in H2 FY 2026, with a potential increase of INR 500 crores by year-end.
- →Execution timeline for most orders is about 12 to 15 months.
- →Capacity constraints currently limit the ability to take full HVDC orders; plans to expand capacity and supply chain integration underway to improve order intake.
- →Order book split: Mehru INR 350 crores, Quality Power INR 250 crores, remaining balance with Endoks.
Key Metrics
Frequently Asked Questions
What were Quality Power Electrical Equipments Ltd Q1 FY26 results?
Revenue guidance for FY 2026 is conservatively set between INR 700 crores and INR 800 crores. Quality Power expects significant growth in PAT as synergies from acquisitions like Mehru play out, with Mehru's profitability improving by 47% in its first full quarter post-acquisition.
What is Quality Power Electrical Equipments Ltd share price analysis?
Quality Power Electrical Equipments Ltd currently shows a neutral. The stock trades at a P/E of 71.9 with a market cap of ₹8,722 Cr. Investors should review the full earnings analysis for detailed insights.
Is Quality Power Electrical Equipments Ltd planning capital expenditure?
Current capex post-IPO is around INR125 crores, including equipment purchased during IPO (Page 8).
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