Shilchar Technologies Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 4 Aug 2026 | Electrical Equipment | Market Cap: ₹5.1K Cr
FY '26 revenue target: INR 750 crores with an order book expected to reach around INR 750 crores by year-end. FY '26 revenue target is INR 750 crores with strong order book and ongoing negotiations supporting this guidance.
From Shilchar Technologies Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹3,883
Market Cap
₹5.1K Cr
P/E Ratio
32.4
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Shilchar Technologies Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹152 Cr, net profit ₹28 Cr.
Full financials →📊 Revenue & Sales Performance
- →FY '26 revenue target: INR 750 crores with an order book expected to reach around INR 750 crores by year-end.
- →Capacity utilization projected at 90-95% for FY '26.
- →FY '27 growth: Expected 10-20% increase in revenue (targeting INR 800-850 crores), despite no new capacity before April 2027.
- →New capacity expansion (6,500 MVA, 220 kV transformers) to be operational by April 2027, enabling revenue potential up to INR 1,400-1,500 crores at full utilization.
- →Demand remains strong in domestic (solar/wind energy focus) and export markets (notably the US with ~12-15% export share).
- →Company emphasizes sustainable growth without aggressive expansion to maintain quality and profitability.
- →The transformer industry outlook suggests a bullish cycle expected to continue for the next 3-5 years, supporting steady growth.
📈 Profitability & Margins
- →FY '26 revenue target is INR 750 crores with strong order book and ongoing negotiations supporting this guidance.
- →FY '27 revenue expected to grow approximately 10% to 20%, targeting around INR 850 crores aided by better utilization, especially in H2.
- →Capacity expansion of 6,500 MVA (total 14,000 MVA) by April 2027 expected to enable turnover between INR 1,400 crores to INR 1,500 crores at full capacity.
- →EBITDA margins stable at around 31%, with confidence to maintain or improve margins despite tariff and competitive pressures.
- →Profitability growth demonstrated by 40% YoY net profit growth in Q2 FY '26, with continued operational efficiencies expected to support healthy bottom-line expansion.
- →Management aims for sustainable and controlled growth without aggressive expansion, focusing on quality and customer retention to drive profits.
🏗️ Capital Expenditure Plans
- →Shilchar Technologies announced a significant capacity expansion project at Gavasad.
- →The expansion adds 6,500 MVA capacity, bringing total capacity to 14,000 MVA by April 2027.
- →This brownfield expansion includes manufacturing up to 100 MVA, 220 kV class transformers.
- →The capital outlay for this expansion is approximately INR 90 crores.
- →The project is fully funded through internal accruals, with no current plans for acquisitions.
- →The new facility is expected to start manufacturing in April 2027.
- →Targeted utilization for the new capacity in FY 28 is around 60%-70%.
- →No incremental capacity additions are planned before the new facility comes online.
- →Focus remains solely on transformers, with no diversification into other products planned at this time.
💰 Fundraising & Capital Structure
- →There are no current plans for fundraising through debt or equity.
- →The company plans to fund the new capacity expansion entirely through internal accruals, with a capital outlay of approximately INR90 crores.
- →Management emphasized using accrued surplus for funding to avoid taking loans.
- →The company prefers sustainable growth and is cautious about aggressive expansion.
- →No acquisition plans are indicated as of now.
📋 Order Book & Pipeline
- →Current order book stands at INR 300 crores as of October 18, 2025.
- →Domestic orders constitute approximately INR 175 crores, and exports account for INR 125 crores of this.
- →For the full fiscal year 2025-26, the company targets achieving an order intake/order pipeline of INR 750 crores to INR 800 crores.
- →In the first half of FY '26, orders worth INR 330 crores were booked.
- →The company aims to book an additional INR 400 crores in the first two quarters of FY '27.
- →Ongoing negotiations with customers are expected to help achieve the INR 750 crore target in FY '26.
- →Orders are planned to be executed within the current financial year.
- →Focus is on sustainable growth with no plans for aggressive expansion or outsourcing.
Key Metrics
Frequently Asked Questions
What were Shilchar Technologies Ltd Q2 FY26 results?
FY '26 revenue target: INR 750 crores with an order book expected to reach around INR 750 crores by year-end. FY '26 revenue target is INR 750 crores with strong order book and ongoing negotiations supporting this guidance.
What is Shilchar Technologies Ltd share price analysis?
Shilchar Technologies Ltd currently shows a neutral. The stock trades at a P/E of 32.4 with a market cap of ₹5,126 Cr. Investors should review the full earnings analysis for detailed insights.
Is Shilchar Technologies Ltd planning capital expenditure?
Shilchar Technologies announced a significant capacity expansion project at Gavasad.
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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.