Yash Highvoltage Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 3 Aug 2026 | Electrical Equipment | Market Cap: ₹2.8K Cr
Yash Highvoltage Limited targets a minimum CAGR of around 35% for the next 5 to 10 years, continuing historic growth rates. Yash Highvoltage targets a minimum CAGR of 35% over the next 5 years, maintaining historically high growth rates.
From Yash Highvoltage Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹912
Market Cap
₹2.8K Cr
P/E Ratio
72.4
How does Yash Highvoltage Ltd rank in Electrical Equipment?
Compare Yash Highvoltage Ltd against every Electrical Equipment company this quarter on revenue, margins and earnings-call signals.
📊 Revenue & Sales Performance
- →Yash Highvoltage Limited targets a minimum CAGR of around 35% for the next 5 to 10 years, continuing historic growth rates.
- →The company expects 8x to 10x growth in annual revenue over 8 to 10 years, driven by expanding addressable market (INR 15,000-16,000 crores).
- →The upcoming greenfield plant is expected to increase capacity 2.5x to 3x of current production, supporting steep sales growth from FY 2026-27 onwards.
- →Order book is healthy at over INR 300 crores, with execution timelines of 1.5 to 2 years, and strong order inflows ongoing.
- →Export contribution currently ~4-5%, with plans to scale globally across 50-60 countries.
- →Growth supported by rising domestic and global power infrastructure investments, grid expansions, retrofit opportunities, and renewable energy projects.
📈 Profitability & Margins
- →Yash Highvoltage targets a minimum CAGR of 35% over the next 5 years, maintaining historically high growth rates.
- →EBITDA margins are expected to be maintained or slightly improved over the next 1.5 to 2 years.
- →From FY 2027-28 onwards, a steep increase in EBITDA margins is anticipated due to local production replacing imports, reducing costs and import duties.
- →Export markets, especially for RIP bushings, offer substantially better price realizations, which will further boost margins.
- →With the commissioning of the new greenfield plant in H2 FY 2026-27, capacity will increase 2.5x to 3x, supporting multi-fold revenue growth.
- →The company expects to grow 8x to 10x its current annual revenue over 8-10 years without exceeding 5% market share, indicating significant upside potential.
- →Profit after tax margin showed strong growth with a YoY increase of 256 basis points to 13.7%, reflecting improving profitability trends.
🏗️ Capital Expenditure Plans
- →Yash Highvoltage is undertaking a new greenfield plant project with a capex of over INR100 crores.
- →Full utilization of the new plant is expected in 2.5 to 3 years, with incremental ramp-up starting at 30%-40%.
- →The greenfield facility will expand capacity to 15,000-16,000 units, roughly 2.5x to 3x current revenue.
- →Capex covers infrastructure including buildings, machinery, tools for winding, autoclaves, material movement, and high voltage test laboratories.
- →Additional capex may be required for the acquisition of Sukrut Electrical, with professionals assessing future investment needs.
- →Inventory build-up and strategic stocking for future orders might also contribute to capex.
- →IPO proceeds are primarily allocated for capacity build-up including civil works, equipment, and labs.
- →Future capital requirements including working capital or further capex will depend on demand growth, with possible additional debt or equity considered as needed.
💰 Fundraising & Capital Structure
📋 Order Book & Pipeline
- →As of September 2025, Yash Highvoltage Limited has a healthy order book valued at over INR 300 crores.
- →The execution timeline for the current orders is approximately 1.5 to 2 years.
- →The company continues to add new orders daily, indicating strong ongoing demand.
- →Management stated that the order flow is "unlimited," and the capacity to take orders is limited by their ability to execute rather than demand.
- →For the Sukrut acquisition, revenue impact is expected to start from the next financial year, as the acquisition is not yet complete.
- →Yash is cautious to avoid over-commitment to ensure timely order fulfillment without overextending capacity.
Key Metrics
Frequently Asked Questions
What were Yash Highvoltage Ltd Q2 FY26 results?
Yash Highvoltage Limited targets a minimum CAGR of around 35% for the next 5 to 10 years, continuing historic growth rates. Yash Highvoltage targets a minimum CAGR of 35% over the next 5 years, maintaining historically high growth rates.
What is Yash Highvoltage Ltd share price analysis?
Yash Highvoltage Ltd currently shows a neutral. The stock trades at a P/E of 72.4 with a market cap of ₹2,818 Cr. Investors should review the full earnings analysis for detailed insights.
Is Yash Highvoltage Ltd planning capital expenditure?
Yash Highvoltage is undertaking a new greenfield plant project with a capex of over INR100 crores.
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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.