Rashi Peripherals Ltd
Rashi Peripherals Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Core business is expected to grow comfortably at 15% year-on-year (Page 18). The company aims to maintain a net margin of around 1.5% for the long term, reflecting steady profitability. - EBITDA margins have shown stability at approximately 2.6%-3%, with operating efficiencies being continuously optimized. - Revenue excluding large project deals is growing at a healthy 20% year-on-year. - Large projects are being approached cautiously, ensuring ROCE and ROE justify capital infusion, which supports margin sustainability. - Adjusted PAT excluding extraordinary items showed growth of 7.4% for the quarter and 9.7% for H1 year-on-year. - ESOP expenses are expected to be around Rs.
From Rashi Peripherals Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Core business is expected to grow comfortably at 15% year-on-year (Page 18).
- Excluding large project deals, revenue growth was about 20% year-on-year in Q2, and 16% excluding large deals for H1 FY’26 (Pages 5,7).
- Over the long term, the company has maintained a CAGR of 20% for the last 20 years and aspires to continue similarly (Page 7).
- Unit volume growth was about 16-16.5% year-on-year, with overall market volume growth of 8% (Page 17).
- The company is open for new large projects with a strong funnel for Q3 and Q4 (Page 8).
- Increased penetration into AI-led and embedded semiconductor businesses is expected to contribute to growth (Pages 4,13).
- Expansion into tier 2 and tier 3 markets with new branches to capture additional opportunities (Page 19).
Profitability & Margins
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Capital Expenditure Plans
- Rashi Peripherals has expanded its distribution network with the commencement of two new branches in Maharashtra, specifically in Nanded and Baramati, targeting rapid IT consumption growth in these tier-2 towns.
- The company continues to invest in strengthening its presence in tier-3 and tier-4 cities as part of its overall expansion strategy.
- There are no explicit mentions of new large-scale capital expenditure projects or strategic investments beyond branch expansions up to Q2 FY'26.
- Investments in technology infrastructure include continuous upgrades to their SAP HANA and SAP CRM systems, along with Power BI, ensuring a digitized ecosystem for efficient inventory and sales management.
- The company is testing debtors factoring (enabled by their upgraded AA- credit rating) and considering optimal financing options for future growth opportunities.
- Participation in sector-specific exhibitions like Electronica Embedded Exhibition indicates focus on embedded and semiconductor vertical growth, which could imply future strategic investments, though these are still evolving.
Top-ranked in IT - Hardware
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- Rashi Peripherals has a strong funnel of large projects for Q3 and Q4.
- The company is open and ready to take up large projects again, after successfully completing previous large deals like the Yotta project.
- For the Dell commercial business, which started revenue booking in Q2, substantial execution and growth are expected in Q3 and accelerated growth in Q4.
- The enterprise segment, growing at 30% to 50% year-on-year, is a key focus, with SMBs (companies with 100 to 1500 employees) as primary targets.
- The company maintains sufficient bandwidth to manage both run-rate business and large project execution simultaneously.
- Ongoing capital constraints in data centers mean Rashi is selective in project participation, focusing on deals with justified returns on capital employed (ROCE).
- Overall, Rashi's order book reflects robust pipeline and participation across traditional, enterprise, and new business segments.
Rashi Peripherals Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹4.5K Cr, net profit ₹87 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Rashi Peripherals Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Rashi Peripherals Ltd Q2 FY26 results?
Core business is expected to grow comfortably at 15% year-on-year (Page 18). The company aims to maintain a net margin of around 1.5% for the long term, reflecting steady profitability. - EBITDA margins have shown stability at approximately 2.6%-3%, with operating efficiencies being continuously optimized. - Revenue excluding large project deals is growing at a healthy 20% year-on-year. - Large projects are being approached cautiously, ensuring ROCE and ROE justify capital infusion, which supports margin sustainability. - Adjusted PAT excluding extraordinary items showed growth of 7.4% for the quarter and 9.7% for H1 year-on-year. - ESOP expenses are expected to be around Rs.
What is Rashi Peripherals Ltd share price analysis?
Rashi Peripherals Ltd currently shows a neutral. The stock trades at a P/E of 18.6 with a market cap of ₹5,950 Cr. Investors should review the full earnings analysis for detailed insights.
Is Rashi Peripherals Ltd planning capital expenditure?
Rashi Peripherals has expanded its distribution network with the commencement of two new branches in Maharashtra, specifically in Nanded and Baramati, targeting rapid IT consumption growth in these tier-2 towns.
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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.