RIR Power Electronics Ltd
RIR Power Electronics Q2 FY26: Capex ₹618 Cr
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Revenue grew 36% YoY and 22% sequentially in Q2FY26, indicating strong growth momentum. Q2FY26 revenue grew 36% YoY and 22% sequentially, reflecting strong operational momentum.
From RIR Power Electronics Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Revenue grew 36% YoY and 22% sequentially in Q2FY26, indicating strong growth momentum.
- Target to achieve ₹800 crore revenue from new businesses and ₹400 crore from existing businesses by 2030-31.
- Expect gradual margin improvement supported by cost optimization and better product mix.
- Focus on medium and high voltage silicon carbide devices, targeting sectors like Indian Railways, defense, renewables, and grid infrastructure.
- EPI wafer revenues targeted at around ₹60 crore next fiscal year, with ~65% exports.
- Phase one production expected to start with capacity of 4,000 wafers/month once clean room and reactors are operational (by early 2026).
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Profitability & Margins
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Capital Expenditure Plans
- Total planned capex is ₹618 crore divided into three parts: epitaxy (EPI), device fabrication, and packaging.
- Phase 1 (EPI and packaging) capex around ₹225 crore; 50% grant expected from Odisha government (~₹110-115 crore).
- Phase 1 funding partly done via preferential issue of ₹85 crore and debt of ₹30 crore planned.
- Phase 2 capex around ₹400 crore; ₹200 crore grant expected from Odisha government; looking to raise ₹100 crore debt and ₹120 crore equity.
- Equipment orders require 30% advance; lead time for advanced equipment is about 1.5 to 2 years.
- Strategic investors and FIIs are being pursued; discussions are ongoing but no names disclosed yet.
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Top-ranked in Electrical Equipment
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
- The transcript does not explicitly mention the current or expected order book or pending orders as a specific figure.
- However, it highlights ongoing strong demand across sectors like industrial processes, renewables, railways, power infrastructure, and defense.
- 10,000 silicon carbide devices were delivered to the Indian Navy in the recent quarter, indicating active orders and execution.
- The company is progressing steadily with project readiness and talent buildup for its 618 crore INR Silicon Carbide Ecosystem facility.
- Phase one of the manufacturing facility expects employment of 300-400 people eventually, reflecting a scaling order pipeline.
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RIR Power Electronics Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹24 Cr, net profit ₹1 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What RIR Power Electronics Ltd's management said in earlier quarters
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Frequently Asked Questions
What were RIR Power Electronics Ltd Q2 FY26 results?
Revenue grew 36% YoY and 22% sequentially in Q2FY26, indicating strong growth momentum. Q2FY26 revenue grew 36% YoY and 22% sequentially, reflecting strong operational momentum.
What is RIR Power Electronics Ltd share price analysis?
RIR Power Electronics Ltd currently shows a neutral. The stock trades at a P/E of 184.6 with a market cap of ₹1,316 Cr. Investors should review the full earnings analysis for detailed insights.
Is RIR Power Electronics Ltd planning capital expenditure?
Total planned capex is ₹618 crore divided into three parts: epitaxy (EPI), device fabrication, and packaging.
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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.