Any current/future new fundraising through debt or equity?

The transcript does not mention any current or planned fundraising through debt or equity. The company highlights that on a consolidated level, they remain net debt-free with a strong balance sheet. Net cash and cash equivalents as of March 31, 2025 stand at INR 1,022 million. There is no reference to new debt or equity issuance or fundraising plans in the discussed financial year or near future. The focus appears to be on organic growth, operational improvements, and strategic acquisitions (e.g., MICROSYS acquisition in Czech Republic), not raising fresh capital.

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

Ongoing capex in Rishabh India: Construction of two buildings with an investment of approx. INR 50-60 crores to increase production capacity. Lumel SA: Adding an SMT line with a capex of about INR 15-20 crores, 40% of which is supported by innovation projects. Total expected capex over next 2 years is around INR 70-80 crores. No additional capex planned in Lumel Alucast currently. Strategic investment includes acquiring MICROSYS (Czech Republic-based SCADA software company) in August 2024 to provide comprehensive solutions alongside high-end products. Expansion of EMS capacity through installa

Future growth expectations in sales/revenue/volumes?

Expecting 15-20% growth in electronics business (India and Lumel SA) next year. Domestic India (Rishabh India) sales expected to grow around 20%. Export growth from India anticipated at 12-13%. Lumel SA revenue projected to grow around 14-15%, potentially conservatively taken as 15%. Overall company aiming for improved growth rates possibly exceeding their usual 12-15%, striving for faster growth. Electronics division growth supported by capacity expansion via new state-of-the-art SMT lines in Nashik and Poland. EMS (Electronics Manufacturing Services) business in Lumel SA showing 100% growth,

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

**Electronics Business Growth:** Expect 15%-20% growth in electronics segment (Rishabh India and Lumel SA) with EBITDA margins around 15%-20%. Targeting ~INR 100 crores EBITDA next year. **Domestic India:** Domestic business expected to grow ~20%, exports around 12%-13%. **Lumel SA:** Anticipates 14%-15% revenue growth with strong margins (20% EBITDA). **Aluminium Die-Casting:** Currently facing challenges, targeting break-even in FY '26 with strategic shift from automotive to non-automotive sectors for better profitability. **Overall EBITDA:** Consolidated EBITDA expected to improve a

Current/ Expected Orderbook/ Pending Orders?

Specific details on the current or expected order book/pending orders are not explicitly mentioned in the provided transcript. However, the management indicates optimism about growth and improving business conditions. Discussions highlight ongoing price negotiations and contract renewals, especially in aluminium die-casting, implying active order management. New projects with non-automotive customers are being pursued to fill capacity in die-casting. The EMS business is expanding with new SMT lines and shifting supply chains from China, indicating an increasing order intake. Lumel SA's growth

IN US

Sale is live|00:00:00left today

Rishabh Instruments LtdQ1 FY25Electrical Equipment

Rishabh Instruments Ltd Q1 FY25 Earnings Call Analysis

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

Price: ₹567P/E: 27.1Market Cap: ₹1.8K CrSector: Electrical Equipment

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

→Expecting 15-20% growth in electronics business (India and Lumel SA) next year.
→Domestic India (Rishabh India) sales expected to grow around 20%.
→Export growth from India anticipated at 12-13%.
→Lumel SA revenue projected to grow around 14-15%, potentially conservatively taken as 15%.
→Overall company aiming for improved growth rates possibly exceeding their usual 12-15%, striving for faster growth.
→Electronics division growth supported by capacity expansion via new state-of-the-art SMT lines in Nashik and Poland.
→EMS (Electronics Manufacturing Services) business in Lumel SA showing 100% growth, expected to continue strong.
→Non-automotive aluminum die-casting growth targeted modestly at 4-5%, but automotive die-casting remains challenging.
→Overall optimistic about better performance in the coming year compared to the current year.

Margin guidance

Category 3

→**Electronics Business Growth:** Expect 15%-20% growth in electronics segment (Rishabh India and Lumel SA) with EBITDA margins around 15%-20%. Targeting ~INR 100 crores EBITDA next year.
→**Domestic India:** Domestic business expected to grow ~20%, exports around 12%-13%.
→**Lumel SA:** Anticipates 14%-15% revenue growth with strong margins (20% EBITDA).
→**Aluminium Die-Casting:** Currently facing challenges, targeting break-even in FY '26 with strategic shift from automotive to non-automotive sectors for better profitability.
→**Overall EBITDA:** Consolidated EBITDA expected to improve as aluminium losses reduce and electronics growth continues.
→**Profitability:** Optimistic that FY '26 and beyond will see improved earnings, supported by new products, capacity expansion (SMT lines), and diversifying customer base.
→**EPS:** Positive trajectory linked to steady revenue growth and margin expansion, with management confident of a better performance compared to the current year.

3 more insights locked — sign up free to unlock

Fundraise plans

→The transcript does not mention any current or planned fundraising through debt or equity.
→The company highlights that on a consolidated level, they remain net debt-free with a strong balance sheet.
→Net cash and cash equivalents as of March 31, 2025 stand at INR 1,022 million.
→There is no reference to new debt or equity issuance or fundraising plans in the discussed financial year or near future.
→The focus appears to be on organic growth, operational improvements, and strategic acquisitions (e.g., MICROSYS acquisition in Czech Republic), not raising fresh capital.

Order book

→Specific details on the current or expected order book/pending orders are not explicitly mentioned in the provided transcript.
→However, the management indicates optimism about growth and improving business conditions.
→Discussions highlight ongoing price negotiations and contract renewals, especially in aluminium die-casting, implying active order management.
→New projects with non-automotive customers are being pursued to fill capacity in die-casting.
→The EMS business is expanding with new SMT lines and shifting supply chains from China, indicating an increasing order intake.
→Lumel SA's growth is expected at around 15%, showing healthy demand.
→Overall, the company is focused on securing orders through strategic customer engagements and capacity expansions to drive double-digit growth.
→The cautious approach with automotive customers reflects controlled order visibility with contract terms being renegotiated.

Capex plans

Yes

→Ongoing capex in Rishabh India: Construction of two buildings with an investment of approx. INR 50-60 crores to increase production capacity.
→Lumel SA: Adding an SMT line with a capex of about INR 15-20 crores, 40% of which is supported by innovation projects.
→Total expected capex over next 2 years is around INR 70-80 crores.
→No additional capex planned in Lumel Alucast currently.
→Strategic investment includes acquiring MICROSYS (Czech Republic-based SCADA software company) in August 2024 to provide comprehensive solutions alongside high-end products.
→Expansion of EMS capacity through installation of state-of-the-art SMT lines in both Nashik (India) and Poland to bolster production capabilities.

How does Rishabh Instruments Ltd rank vs peers in Electrical Equipment?

Pro feature

1Rishabh Instruments Ltd

Rev 3Mar 3

See full Electrical Equipment sector rankings

Want more stocks like Rishabh Instruments Ltd?

Build an AI portfolio filtered by sector, market cap, and growth rank. Takes 2 minutes.

Build my portfolio