Rishabh Instrum.
Rishabh Instruments Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
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The short version
Rishabh Instruments targets a realistic 20%-22% CAGR in topline growth, aiming for about 15%-17% growth in the near term due to external market factors. The company aspires for a realistic CAGR of 20%-22% on topline and 25% on bottomline, acknowledging past exceptional growth years. - Bottomline growth is expected to be more controllable due to slower overhead increases relative to revenue. - Electronics business (including Lumel SA and Rishabh Electronics) targets about 12%-15% topline growth annually with EBITDA margins sustainable around 20%-22%. - Profitability improvement driven by operational efficiencies, improved procurement, product mix, and cost management. - Lumel Alucast expects margin improvement post-phasing out loss-making contracts; business to remain slightly positive with a stronger EBITDA forecast for FY 2027. - Capacity expansions underway in India to support export growth and strengthen future margins. - New product launches in solar and energy meters are expected to contribute to growth in coming years. - Overall, management confident of steady growth with a target EBITDA of Rs.
From Rishabh Instrum.'s Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Rishabh Instruments targets a realistic 20%-22% CAGR in topline growth, aiming for about 15%-17% growth in the near term due to external market factors.
- The company aspires to achieve around 25% CAGR in bottom-line growth, leveraging better cost control and efficiency.
- Management expects improved quarters ahead, with growth returning to normal patterns after recent weaker quarters.
- Expansion efforts include doubling production capacity in India by mid-2026 to support export demand and growth.
- New product launches, geographic expansion (Middle East, US, Southeast Asia), and strong order pipelines support growth.
- The solar business and new energy meter products for European markets are expected to contribute significantly to future sales.
2 more points from Rishabh Instrum.'s call on revenue
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Profitability & Margins
See what Rishabh Instrum. said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Rs. 70 crores IPO proceeds utilized for capacity expansion and building construction.
- Two new manufacturing buildings (5 and 7 storied) in Nashik (Satpur F1 and Trishala areas) are over 50% constructed.
- Buildings expected to be completed by March-April 2026, with full operationalization taking a few additional months.
- Upon completion, production capacity is expected to effectively double, supporting rising export demand and growth.
- Investment in a large R&D setup, including a new center within IIT Bombay in collaboration with professors.
- Continuous investment in product development with a 5-year plan, including new MID energy meters and medium voltage segment products.
2 more points from Rishabh Instrum.'s call on capex
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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
See what Rishabh Instrum. said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The company has a healthy order inflow supporting revenue growth.
- New product launches and expanded geographical mix contribute positively to the order book.
- The recently launched single-phase solar inverter received an exceptional response at a major industry exhibition, generating a pipeline of around 1,000 orders booked at the event.
- New product developments, such as MID meters for Europe and energy meters for the US market, have started contributing to orders, though some are in early stages of pickup.
- Lumel SA shows a robust and growing order pipeline, with a solid recovery and expanded customer base.
2 more points from Rishabh Instrum.'s call on order book
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Rishabh Instrum. — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹205 Cr, net profit ₹20 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Rishabh Instrum.'s management said in earlier quarters
Potential multibaggers · Q2 FY27
Potential multibaggers in Electrical Equipment
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Rishabh Instrum. Q2 FY26 results?
Rishabh Instruments targets a realistic 20%-22% CAGR in topline growth, aiming for about 15%-17% growth in the near term due to external market factors. The company aspires for a realistic CAGR of 20%-22% on topline and 25% on bottomline, acknowledging past exceptional growth years. - Bottomline growth is expected to be more controllable due to slower overhead increases relative to revenue. - Electronics business (including Lumel SA and Rishabh Electronics) targets about 12%-15% topline growth annually with EBITDA margins sustainable around 20%-22%. - Profitability improvement driven by operational efficiencies, improved procurement, product mix, and cost management. - Lumel Alucast expects margin improvement post-phasing out loss-making contracts; business to remain slightly positive with a stronger EBITDA forecast for FY 2027. - Capacity expansions underway in India to support export growth and strengthen future margins. - New product launches in solar and energy meters are expected to contribute to growth in coming years. - Overall, management confident of steady growth with a target EBITDA of Rs.
What is Rishabh Instrum. share price analysis?
Rishabh Instrum. currently shows a neutral. The stock trades at a P/E of 31.0 with a market cap of ₹2,510 Cr. Investors should review the full earnings analysis for detailed insights.
Is Rishabh Instrum. planning capital expenditure?
Rs.
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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.