Any current/future new fundraising through debt or equity?

Advait Energy Transitions Limited plans to fund its expansion through a mix of equity and debt. Equity dilution will occur only if it benefits the business and shareholders. The company intends to raise funds strategically based on business composition and growth plans. Capex for FY27 is estimated around INR 300-350 crores, including investments in subsidiaries for BESS and electrolysers. The company remains open to both funding routes (equity and debt) to support capacity expansions in electrolyser, fuel cell, and battery manufacturing. No specific timeline mentioned for fundraising, but they

Any current/future capex/capital investment/strategic investment?

FY27 Capex excluding IPP and investments in subsidiaries is expected around INR 137 crores, including INR 75 crores for BESS and electrolyser facilities. Total FY27 capex including IPP and investments in subsidiaries is estimated at INR 300-350 crores. Recent sizeable capex of approximately INR 100 crores has been done for the Power Transmission Solutions (PTS) division using internal funds. Expansion plans include setting up manufacturing facilities for BESS, electrolysers, and fuel cells. A 2.5 GW BESS manufacturing plant will be operational by September-October FY27, with plans to s

Future growth expectations in sales/revenue/volumes?

Advait Energy Transitions Limited expects sustained robust growth with a revenue growth target of around 40% or more for FY27. The company's order book has reached an all-time high of INR1,304 crores, marking a 159% year-on-year increase, providing clear visibility into future performance. They are working on various opportunities for new orders worth about INR2,000 crores for FY27, aiming for an order book of INR1,600 to INR1,650 crores by year-end. Revenue mix is shifting, with new and renewable energy (NRE) segment expected to grow from 25-27% to approximately 35%. The Power Transmi

Future growth expectations in earnings/operating earnings/profits/EPS?

Revenue growth of around 40% plus is expected, supported by a strong order book and robust tender pipeline. EBITDA margin anticipated to improve marginally by around 1% in FY27 despite commodity price pressures. PAT growth has been strong, with a 47% increase in FY26; margin around 10%, with steady improvement expected. Operating cash flows expected to improve year-on-year as working capital is better managed and realized. Fuel cell business ready to scale by FY28-'29, potentially tapping into a 500 MW market within 2-3 years. Battery Energy Storage Systems (BESS) manufacturing plant operation

Current/ Expected Orderbook/ Pending Orders?

As of the latest update, Advait Energy Transitions Limited's order book reached an all-time high of INR 1,304 crores, marking a 159% year-on-year growth. The order book composition is approximately 64% from the Power Transmission Solutions (PTS) segment and 36% from the New and Renewable Energy (NRE) segment. For FY27, the company expects order inflows of about INR 2,000 crores. By the end of FY27, the anticipated order book size is projected to be between INR 1,600 crores to INR 1,650 crores. The ratio of NRE to PTS business in the order book is expected to shift to roughly 65:35 in favor of

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Advait Energy Transitions LimitedQ1 FY26Electrical Equipment

Advait Energy Transitions Limited Q1 FY26 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹2,275P/E: 45.4Market Cap: ₹2.1K CrSector: Electrical Equipment

Management growth scorecard

Revenue

Category 1

Margin

Category 2

Fundraise

Yes

Order

Yes

Capex

Yes

4 of 5 growth signals are positive — a strong management growth story.

Full analysis

Revenue guidance

Category 1

→Advait Energy Transitions Limited expects sustained robust growth with a revenue growth target of around 40% or more for FY27.
→The company's order book has reached an all-time high of INR1,304 crores, marking a 159% year-on-year increase, providing clear visibility into future performance.
→They are working on various opportunities for new orders worth about INR2,000 crores for FY27, aiming for an order book of INR1,600 to INR1,650 crores by year-end.
→Revenue mix is shifting, with new and renewable energy (NRE) segment expected to grow from 25-27% to approximately 35%.
→The Power Transmission Solutions (PTS) division targets a 40%-50% growth annually over the next five years after capex completion.
→The battery energy storage systems (BESS) plant, operational from Q3 FY27, is expected to generate INR100-200 crores in the initial months and scale to INR1,000+ crores revenue subsequently.
→Electrolyser and fuel cell businesses are poised for growth starting FY27-'28 and FY28-'29 respectively, with fuel cells expected to address a 500 MW market in 2-3 years.

Margin guidance

Category 2

→Revenue growth of around 40% plus is expected, supported by a strong order book and robust tender pipeline.
→EBITDA margin anticipated to improve marginally by around 1% in FY27 despite commodity price pressures.
→PAT growth has been strong, with a 47% increase in FY26; margin around 10%, with steady improvement expected.
→Operating cash flows expected to improve year-on-year as working capital is better managed and realized.
→Fuel cell business ready to scale by FY28-'29, potentially tapping into a 500 MW market within 2-3 years.
→Battery Energy Storage Systems (BESS) manufacturing plant operational by Q3 FY27, expected to ramp up revenue (~INR100-200 crores in initial months, with significant growth potential afterward).
→Manufacturing facility expansions (electrolysers, BESS) to improve scalability and margins over time.
→Expectation to maintain 40-50% growth in Power Transmission Solutions (PTS) division over next 5 years.

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Fundraise plans

Yes

→Advait Energy Transitions Limited plans to fund its expansion through a mix of equity and debt.
→Equity dilution will occur only if it benefits the business and shareholders.
→The company intends to raise funds strategically based on business composition and growth plans.
→Capex for FY27 is estimated around INR 300-350 crores, including investments in subsidiaries for BESS and electrolysers.
→The company remains open to both funding routes (equity and debt) to support capacity expansions in electrolyser, fuel cell, and battery manufacturing.
→No specific timeline mentioned for fundraising, but they are preparing for future needs aligned with growth projections.

Order book

Yes

→As of the latest update, Advait Energy Transitions Limited's order book reached an all-time high of INR 1,304 crores, marking a 159% year-on-year growth.
→The order book composition is approximately 64% from the Power Transmission Solutions (PTS) segment and 36% from the New and Renewable Energy (NRE) segment.
→For FY27, the company expects order inflows of about INR 2,000 crores.
→By the end of FY27, the anticipated order book size is projected to be between INR 1,600 crores to INR 1,650 crores.
→The ratio of NRE to PTS business in the order book is expected to shift to roughly 65:35 in favor of NRE next year (FY27).
→The company is actively bidding and in advanced discussions for EPC tenders, particularly in the NRE segment.

Capex plans

Yes

→FY27 Capex excluding IPP and investments in subsidiaries is expected around INR 137 crores, including INR 75 crores for BESS and electrolyser facilities.
→Total FY27 capex including IPP and investments in subsidiaries is estimated at INR 300-350 crores.
→Recent sizeable capex of approximately INR 100 crores has been done for the Power Transmission Solutions (PTS) division using internal funds.
→Expansion plans include setting up manufacturing facilities for BESS, electrolysers, and fuel cells.
→A 2.5 GW BESS manufacturing plant will be operational by September-October FY27, with plans to scale to 5 GW capacity.
→Fuel cell manufacturing facility under joint venture with AVL and TECO is planned, with a manual plant expected in 1.5 years and automatic plant in 2-3 years.
→Strategic investments focus on subsidiaries dedicated to green hydrogen, battery ecosystems, carbon solutions, and asset-based businesses.

How does Advait Energy Transitions Limited rank vs peers in Electrical Equipment?

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