Rajesh Power Services Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹1,404 Cr
- P/E
- 10.19
- ROE
- 42.70%
- PEG
- 0.06
- Price to sales
- 0.86
- Debt to equity
- 0.33
- 52W high / low
- ₹1,501 / ₹731
- EBITDA margin
- 12.11%
- Net profit margin
- 8.47%
- Promoter holding
- 71.93%
- Sales (last year)
- ₹1,628 Cr
Established in 1971, Rajesh Power Services Limited provides consultancy to state transmission and distribution companies, private utilities, and industries.[1]
Guidance scorecard · Q4 FY26 call
What Rajesh Power Services Ltd's management guided
and where it ranks in Other Utilities
Other Utilities
RevenueQ4 FY26 call
40%+- Rajesh Power Services Ltd. targets a revenue growth CAGR of around 40% for the next 2 to 3 years.
- For FY’27 specifically, the company is looking at 40% growth.
- Order inflow targets are approximately INR 4,000 to INR 5,000 crores for the current financial year.
- Execution timelines for projects are typically 18 to 24 months, with phased mobilizations already underway.
- Expansion in non-Gujarat states is expected to raise the contribution from outside Gujarat closer to 20% of the order book.
2 more points from Rajesh Power Services Ltd's call on revenue
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MarginsQ4 FY26 call
FlatSee what Rajesh Power Services Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- The company is developing a 65 MW Battery Energy Storage System (BESS) project, which they will own and operate under a build-operate model, expected to commission by September–October 2027.
- For the BESS project, they plan to finance 70% to 80% through bank financing with the balance through company equity; exact equity amount is yet to be determined.
- CapEx for BESS infrastructure is estimated broadly at INR 1.5 to 2.5 crores per megawatt.
- The BESS project is strategic to understand the ecosystem and strengthen bidding capabilities for future BESS EPC projects.
2 more points from Rajesh Power Services Ltd's call on capex
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FundraisingQ4 FY26 call
PlannedSee what Rajesh Power Services Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
Rising- As of the latest update, the current order book is approximately INR 3,326 crores.
- Gujarat accounts for around 85% to 90% of the current order book.
- The company is targeting to close the FY27 order book above INR 5,000 crores.
- For FY26, order inflow was around INR 2,743 crores (excluding GST), with an expected additional order inflow of INR 4,000 to INR 5,000 crores by year-end.
- The order book includes confirmed orders and around INR 210 crores in L1 tender status.
- There are pending bids of INR 2,200 crores with results awaited by May-June.
2 more points from Rajesh Power Services Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Other Utilities
on management's own guidance
- Strong growth2
- 1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Other Utilities companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Rajesh PowerThis stock | 40%+ | Flat | ₹1,488 Cr | 10.8 |
| 2 | 40%+ | Flat | ₹807 Cr | 56.3 | |
| 3 | 40%+ | Flat | ₹690 Cr | 18.7 | |
| 4 | 40%+ | Flat | ₹334 Cr | 19.6 | |
| 5 | 40%+ | Flat | ₹94 Cr | 7.3 | |
| 6 | 20–40% | Flat | ₹3,521 Cr | 12.3 |
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Pro shows every company guiding 40%+ revenue growth →Full Other Utilities rankingRajesh Power Services Ltd announcements
All announcements →Financials of Rajesh Power Services Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Rajesh Power Services Ltd
Quarterly Results
Quarter-by-quarter operating performance
Financials of Rajesh Power Services Ltd
Profit & Loss
Annual income statement trend
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Sales + | 147 | 207 | 285 | 1,072 | 1,628 |
| Expenses + | 136 | 193 | 250 | 947 | 1,431 |
| Operating Profit | 11 | 14 | 35 | 125 | 197 |
| OPM % | 8% | 7% | 12% | 12% | 12% |
| Other Income + | 3 | 4 | 10 | 7 | 5 |
| Interest | 8 | 8 | 10 | 16 | 11 |
| Depreciation | 2 | 1 | 1 | 1 | 1 |
| Profit before tax | 4 | 9 | 34 | 114 | 190 |
| Tax % | 22% | 22% | 24% | 24% | 28% |
| Net Profit + | 3 | 7 | 26 | 87 | 138 |
| EPS in Rs | 2.27 | 4.44 | 17.10 | 48.48 | 76.38 |
| Dividend Payout % | 0% | 0% | 0% | 2% | 1% |
Financials of Rajesh Power Services Ltd
Balance Sheet
Capital structure and asset base
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 15 | 15 | 15 | 18 | 18 |
| Reserves | 37 | 43 | 69 | 238 | 373 |
| Borrowings + | 62 | 60 | 78 | 56 | 127 |
| Other Liabilities + | 61 | 80 | 78 | 214 | 409 |
| Total Liabilities | 176 | 198 | 240 | 526 | 927 |
| Fixed Assets + | 16 | 19 | 20 | 18 | 18 |
| CWIP | 0 | 0 | 0 | 0 | 1 |
| Investments | 12 | 18 | 8 | 10 | 8 |
| Other Assets + | 147 | 161 | 212 | 498 | 900 |
| Total Assets | 176 | 198 | 240 | 526 | 927 |
Financials of Rajesh Power Services Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from Operating Activity + | 7 | 15 | -22 | -21 | -41 |
| Cash from Investing Activity + | -19 | -5 | 16 | -26 | -16 |
| Cash from Financing Activity + | 6 | -12 | 6 | 47 | 37 |
| Net Cash Flow | -6 | -2 | -0 | -0 | -21 |
| Free Cash Flow | 5 | 12 | -24 | -19 | -43 |
| CFO/OP | 68% | 122% | -49% | 6% | 4% |
Financials of Rajesh Power Services Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 141 | 103 | 94 | 62 | 78 |
| Inventory Days | 95 | 82 | 64 | 26 | 34 |
| Days Payable | 116 | 76 | 55 | 50 | 90 |
| Cash Conversion Cycle | 120 | 108 | 103 | 38 | 22 |
| Working Capital Days | 75 | 53 | 66 | 39 | 7 |
| ROCE % | 15% | 32% | 55% | 49% |
Guidance history
How Rajesh Power Services Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 40%+ | Flat | Planned | Planned | Rising |
| Q3 FY26 call → | 40%+ | Flat | Planned | Planned | Rising |
| Q2 FY26 call → | 40%+ | Flat | Planned | None planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
11 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −48.0% | 6% |
| Last 6 months | −18.9% | 23% |
| Last 3 months | −9.3% | 47% |
The price is 51% below its all-time high of ₹1,590.95 (23 Sept 2025). Stocks more than 20% below their peak have their score halved, so 21 became 11.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Rajesh Power Services Ltd: 0.4 × 6 + 0.4 × 23 + 0.2 × 47 = 21, halved to 11 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Rajesh Power Services Ltd's management said in earlier quarters
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