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Q2 FY26

Smarten Power Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹56
Market cap₹119 Cr
P/E13.5
Updated16 Oct 2026
Read4 min read

Smarten Power Q2 FY26 key numbers

Revenue
Targeting approximately 20% revenue growth by March 2026, aiming for INR230-240 crores (vs INR200 crores last year).

As stated in Smarten Power's Q2 FY26 earnings call transcript · published 16 Oct 2026. Reported figures, not investment advice.

The short version

Targeting approximately 20% revenue growth by March 2026, aiming for INR230-240 crores (vs INR200 crores last year). The company targets about 20-30% revenue growth annually; expects INR230-240 crores revenue by March 2026, up from INR200 crores last year.

From Smarten Power's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

  • Targeting approximately 20% revenue growth by March 2026, aiming for INR230-240 crores (vs INR200 crores last year).
  • Expect around 30% to 40% sales growth in FY 2027.
  • Historical trend shows the second half of the financial year has higher sales than the first half.
  • Planning to double production capacity from 600 to 1,200 units per day by Q1 FY 2027 with overlapping old and new facilities.
  • Aim to double revenue within three years through approximately 30% annual growth.
  • Expansion includes improving sales and after-sales service infrastructure across several states (Haryana, UP, Punjab, Rajasthan, J&K).
  • Intend to maintain or improve EBITDA margins from current ~8.5% to 9-10% next year.

2 more points from Smarten Power's call on revenue

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Profitability & Margins

See what Smarten Power said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Smarten Power Systems is acquiring a battery manufacturing unit, which will double their manufacturing capacity.
  • A new company-owned manufacturing facility is being set up, shifting from a rented location; this will enable automation and cost reduction.
  • The new facility will double inverter production capacity from about 600 to 1,200 units per day, effective from Q1 FY27.
  • There will be an overlap period of six months while transitioning between old and new facilities.
  • Strategic investment in building a 24-hour service network to support expanded sales.
  • Plans to replicate their proven business model across neighboring states (UP, Punjab, J&K, Rajasthan) as part of geographic expansion.

2 more points from Smarten Power's call on capex

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Fundraising & Capital Structure

See what Smarten Power said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

  • The company has acknowledged some lack of communication about order inflows in past months, leading to investor concerns.
  • Emphasis is on ongoing growth, with past trends showing higher revenue in the second half of the financial year.
  • The company's capacity is near full for about 9 months annually, possibly limiting order fulfillment during peak season.
  • Capacity expansion, especially via acquired battery and inverter manufacturing units, is expected to increase orders handled in the future.

Continue your research

What Smarten Power's management said in earlier quarters

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Frequently Asked Questions

What were Smarten Power Q2 FY26 results?

Targeting approximately 20% revenue growth by March 2026, aiming for INR230-240 crores (vs INR200 crores last year). The company targets about 20-30% revenue growth annually; expects INR230-240 crores revenue by March 2026, up from INR200 crores last year.

What is Smarten Power share price analysis?

Smarten Power currently shows a neutral. The stock trades at a P/E of 13.5 with a market cap of ₹119 Cr. Investors should review the full earnings analysis for detailed insights.

Is Smarten Power planning capital expenditure?

Smarten Power Systems is acquiring a battery manufacturing unit, which will double their manufacturing capacity.

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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.