Rulka Electricals Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹49 Cr
- P/E
- 14.93
- ROE
- 9.20%
- PEG
- 2.66
- Price to sales
- 0.45
- Debt to equity
- 0.13
- 52W high / low
- ₹131 / ₹75.0
- Sales growth (5Y)
- 41.26%
- EBITDA margin
- 5.05%
- Net profit margin
- 2.99%
- Promoter holding
- 60.05%
- Sales (last year)
- ₹110 Cr
Incorporated in 2013, Rulka Electricals Ltd provides Electrical and firefighting solutions.[1]
Guidance scorecard · Q2 FY27 call
What Rulka Electricals Ltd's management guided
and where it ranks in Construction
RevenueQ2 FY26 call
20–40%- Confident of scaling turnover to INR 200-250 crores within 2-3 years, leveraging an unexecuted order book of INR 144 crores.
- Strong revenue visibility with INR 79.7 crores order inflow expected in H1 FY26.
- More than 60% of the INR 144 crores order book expected to be executed in FY26.
- Expanding presence in high-margin sectors such as Extra High Voltage (EHV) projects including 33 kV and 220 kV transmission works.
- Focus on sectors like warehousing, retail, airports, and solar EPC, with airport and EHV projects gaining prominence.
- Revenue for H1 FY 26 was INR 54.24 crores showing 82% YoY growth.
- Management aims to return to IPO-level margins and profitability based on improved execution and selective project bidding.
2 more points from Rulka Electricals Ltd's call on revenue
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MarginsQ2 FY26 call
Up 0–2%See what Rulka Electricals Ltd said on margins — free account, 30 seconds.
CapexQ2 FY26 call
Planned- Rulka Electricals Limited is actively investing strategically in building solar EPC capability, having developed a dedicated solar team over the last two years to execute turnkey projects from design to commissioning.
- The company is also making technical investments by continuously training its technical teams to meet the demands of technically challenging projects in high-voltage and extra-high-voltage transmission and distribution works, including 33 kV and 220 kV…
- Operationally, they are scaling selectively without over-stretching resources, focusing on working capital discipline and maintaining a healthy balance sheet to fund growth without excessive leverage.
FundraisingQ2 FY26 call
See what Rulka Electricals Ltd said on fundraising — free account, 30 seconds.
Order bookQ2 FY26 call
Rising- As of H1 FY '26, the unexecuted order book stands at approximately INR 144 crores (including GST).
- Approximately 60% of these orders are electrical projects, 30% firefighting, and 10% EHV, solar, and related orders.
- Over 60% of the unexecuted order book is expected to be executed and recognized as revenue in FY '26.
- The order inflow visibility for H1 FY '26 remains strong at INR 79.7 crores.
- The company is actively quoting for more projects, with new orders expected to come by the end of the current quarter.
2 more points from Rulka Electricals 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 Construction
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Construction companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹6,531 Cr | 11.7 | |
| 2 | 40%+ | Flat | ₹1,089 Cr | 9.3 | |
| 3 | 40%+ | Flat | ₹898 Cr | 7.6 | |
| 4 | 40%+ | Flat | ₹807 Cr | 14.7 | |
| 5 | 40%+ | Flat | ₹554 Cr | 13.1 | |
| 6 | 40%+ | Flat | ₹516 Cr | 30.7 |
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Pro shows every company guiding 40%+ revenue growth →Full Construction rankingFinancials of Rulka Electricals Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Rulka Electricals Ltd
Shareholding breakup across reporting periods.
| Sep 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|
| Promoters + | 69.22% | 69.22% | 69.22% | 69.22% | 69.22% | 69.22% | 60.05% |
| FIIs + | 2.35% | 0.61% | 0.42% | 0.23% | 0.00% | 0.00% | 8.15% |
| DIIs + | 0.27% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public + | 28.16% | 30.11% | 30.36% | 30.56% | 30.78% | 30.78% | 31.80% |
| No. of Shareholders | 1,102 | 1,533 | 1,602 | 1,569 | 1,507 | 1,530 | 1,478 |
Financials of Rulka Electricals Ltd
Quarterly Results
Quarter-by-quarter operating performance
Financials of Rulka Electricals Ltd
Profit & Loss
Annual income statement trend
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| Sales + | 20 | 36 | 47 | 71 | 80 | 110 | 130 |
| Expenses + | 18 | 34 | 43 | 62 | 75 | 105 | 122 |
| Operating Profit | 1 | 2 | 4 | 9 | 4 | 6 | 8 |
| OPM % | 6% | 7% | 9% | 13% | 5% | 5% | 6% |
| Other Income + | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 1 | 2 | 4 | 8 | 3 | 4 | 6 |
| Tax % | 26% | 41% | 28% | 27% | 30% | 23% | |
| Net Profit + | 1 | 1 | 3 | 6 | 2 | 3 | 5 |
| EPS in Rs | 1.64 | 3.39 | 8.45 | 17.89 | 5.31 | 7.73 | 10.33 |
| Dividend Payout % | -0% | -0% | -0% | -0% | -0% | -0% |
Financials of Rulka Electricals Ltd
Balance Sheet
Capital structure and asset base
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.11 | 0.11 | 0.11 | 3 | 4 | 4 | 5 |
| Reserves | 2 | 3 | 6 | 10 | 30 | 33 | 64 |
| Borrowings + | 2 | 3 | 5 | 11 | 9 | 5 | 21 |
| Other Liabilities + | 6 | 14 | 17 | 17 | 17 | 30 | 22 |
| Total Liabilities | 10 | 19 | 29 | 41 | 60 | 73 | 112 |
| Fixed Assets + | 2 | 3 | 3 | 3 | 4 | 4 | 4 |
| CWIP | -0 | -0 | -0 | -0 | -0 | -0 | -0 |
| Investments | 0 | 0 | -0 | -0 | -0 | -0 | -0 |
| Other Assets + | 8 | 16 | 26 | 39 | 56 | 69 | 108 |
| Total Assets | 10 | 19 | 29 | 41 | 60 | 73 | 112 |
Financials of Rulka Electricals Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 0 | 1 | -2 | -6 | -15 | 6 |
| Cash from Investing Activity + | 0 | -1 | -0 | -0 | -1 | -1 |
| Cash from Financing Activity + | -0 | 0 | 2 | 7 | 15 | -5 |
| Net Cash Flow | -0 | 0 | -0 | 1 | -1 | 0 |
| Free Cash Flow | 0 | -0 | -3 | -6 | -16 | 5 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 34% | 53% | -31% | -53% | -309% | 143% |
Financials of Rulka Electricals Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 87 | 78 | 101 | 129 | 120 | 119 |
| Inventory Days | 49 | 74 | 113 | 49 | 106 | 79 |
| Days Payable | 106 | 127 | 161 | 106 | 67 | 98 |
| Cash Conversion Cycle | 30 | 24 | 53 | 72 | 159 | 100 |
| Working Capital Days | 12 | 4 | 31 | 50 | 121 | 92 |
| ROCE % | 48% | 50% | 51% | 12% | 12% |
Continue your research
What Rulka Electricals Ltd's management said in earlier quarters
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