Shilchar Technologies Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹4,176 Cr
- P/E
- 30.37
- ROE
- 37.78%
- PEG
- 0.56
- Price to sales
- 6.65
- Debt to equity
- 0.00
- 52W high / low
- ₹5,312 / ₹2,923
- Sales growth (5Y)
- 40.80%
- EBITDA margin
- 25.49%
- Net profit margin
- 24.27%
- Promoter holding
- 62.12%
- Sales (last year)
- ₹628 Cr
Shilchar Technologies is engaged in the business of manufacturing Electronics & Telecom and Power & Distribution transformers. The company has recently ventured into the manufacturing of Ferrite transformers. [1]
Guidance scorecard · Q2 FY27 call
What Shilchar Technologies Ltd's management guided
and where it ranks in Electrical Equipment
Electrical Equipment
RevenueQ1 FY27 call
10–20%- Shilchar Technologies expects revenue growth aligned with their FY27 guidance of Rs. 800 crores despite Q1 softness.
- They anticipate operating close to 100% capacity utilization for FY27 and better business momentum from Q2 onwards.
- New CAPEX Phase-3 adding 6,500 MVA capacity is on track for commissioning in April 2027, expected to drive growth from FY28.
- Growth focus includes expansion into higher KV transformer segments post-April 2027, after product prototyping and customer approvals.
- Domestic market orders have increased due to export challenges, with a strong Rs. 500 crore order book currently (70% domestic, 30% export).
2 more points from Shilchar Technologies Ltd's call on revenue
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MarginsQ1 FY27 call
Up 0–2%See what Shilchar Technologies Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Shilchar Technologies is executing a Phase-3 expansion project to add about 6,500 MVA capacity, on track for commissioning in April 2027.
- Civil foundation work is completed; PEB erection and utility infrastructure are progressing well; all equipment has been ordered.
- The new facility is expected to drive growth from FY28 onwards.
- Initial production from new capacity will focus on existing transformer ranges, with plans to aggressively market higher-capacity transformers later.
- Prototyping for the bigger transformers is expected around 3-4 months after starting production.
2 more points from Shilchar Technologies Ltd's call on capex
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FundraisingQ1 FY27 call
See what Shilchar Technologies Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Flat- Current order book stands at approximately Rs. 500 crores.
- Order book split: around 70% domestic and 30% exports.
- Orders are for execution primarily across Q2 and Q3, with some extending into Q4.
- Export orders are included within the 500 crores and will be executed as per customer delivery requirements.
- Additional new orders are expected, mostly for Q3 and Q4.
- The company is fully booked for Q2.
2 more points from Shilchar Technologies 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 Electrical Equipment
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
Electrical Equipment companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹72,673 Cr | 18.1 | |
| 2 | 40%+ | Up 2%+ | ₹21,700 Cr | 158.1 | |
| 3 | 40%+ | Up 2%+ | ₹491 Cr | 12.2 | |
| 4 | 40%+ | Up 0–2% | ₹12,434 Cr | 48.4 | |
| 5 | 40%+ | Up 0–2% | ₹2,042 Cr | 35.4 | |
| 6 | 40%+ | Up 0–2% | ₹529 Cr | 7.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Electrical Equipment rankingFinancials of Shilchar Technologies Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Shilchar Technologies Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 64.01% | 64.01% | 64.01% | 64.01% | 64.01% | 64.01% | 64.01% | 64.01% | 62.12% | 62.12% | 62.12% | 62.12% |
| FIIs + | 3.17% | 3.55% | 3.08% | 3.22% | 2.29% | 2.05% | 2.12% | 2.73% | 2.75% | 2.55% | 2.57% | 2.62% |
| DIIs + | 0.00% | 0.00% | 0.02% | 0.03% | 0.11% | 0.11% | 0.13% | 0.33% | 1.49% | 1.91% | 1.95% | 1.88% |
| Government + | 0.53% | 0.53% | 0.53% | 0.53% | 0.53% | 0.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public + | 32.29% | 31.93% | 32.37% | 32.22% | 33.06% | 33.30% | 33.73% | 32.92% | 33.65% | 33.43% | 33.37% | 33.37% |
| No. of Shareholders | 12,952 | 16,011 | 23,220 | 27,099 | 31,367 | 36,352 | 42,591 | 42,641 | 43,687 | 43,953 | 43,353 | 42,322 |
Financials of Shilchar Technologies Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 106 | 118 | 105 | 107 | 131 | 154 | 232 | 159 | 171 | 170 | 152 | 135 | 193 |
| Expenses + | 77 | 86 | 74 | 78 | 90 | 111 | 161 | 106 | 118 | 118 | 120 | 113 | 153 |
| Operating Profit | 30 | 32 | 31 | 29 | 41 | 43 | 71 | 52 | 54 | 52 | 32 | 22 | 40 |
| OPM % | 28% | 27% | 30% | 28% | 31% | 28% | 31% | 33% | 31% | 31% | 21% | 16% | 21% |
| Other Income + | 4 | 3 | 3 | 3 | 4 | 5 | 5 | 4 | 9 | 6 | 7 | 7 | 7 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 33 | 35 | 34 | 32 | 44 | 47 | 75 | 56 | 62 | 57 | 37 | 28 | 46 |
| Tax % | 25% | 25% | 27% | 25% | 25% | 26% | 26% | 25% | 25% | 26% | 24% | 26% | 28% |
| Net Profit + | 24 | 26 | 25 | 24 | 33 | 35 | 55 | 41 | 46 | 42 | 28 | 21 | 33 |
| EPS in Rs | 21.40 | 22.89 | 21.95 | 21.04 | 28.71 | 30.50 | 48.56 | 36.27 | 40.16 | 37.01 | 24.82 | 18.23 | 28.83 |
Financials of Shilchar Technologies Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 106 | 102 | 109 | 88 | 118 | 71 | 118 | 180 | 280 | 397 | 623 | 652 | 649 |
| Expenses + | 98 | 88 | 92 | 78 | 104 | 68 | 108 | 161 | 227 | 284 | 438 | 461 | 503 |
| Operating Profit | 8 | 13 | 18 | 9 | 14 | 3 | 10 | 19 | 53 | 113 | 185 | 190 | 147 |
| OPM % | 8% | 13% | 16% | 11% | 12% | 4.3% | 8% | 11% | 19% | 29% | 30% | 29% | 23% |
| Other Income + | 3 | 3 | 3 | 1 | 2 | 3 | 2 | 3 | 8 | 13 | 16 | 26 | 27 |
| Interest | 1 | 1 | 1 | 1 | 3 | 1 | 2 | 1 | 1 | 0 | 0 | 0 | 0 |
| Depreciation | 2 | 1 | 1 | 1 | 2 | 3 | 3 | 3 | 2 | 3 | 3 | 4 | 4 |
| Profit before tax | 9 | 14 | 19 | 8 | 11 | 2 | 7 | 19 | 58 | 123 | 197 | 212 | 169 |
| Tax % | 35% | 35% | 35% | 28% | 27% | 25% | 24% | 27% | 26% | 25% | 26% | 25% | |
| Net Profit + | 6 | 9 | 12 | 6 | 8 | 2 | 6 | 14 | 43 | 92 | 147 | 158 | 125 |
| EPS in Rs | 5.10 | 7.97 | 10.78 | 5.15 | 6.80 | 1.32 | 4.84 | 12.32 | 37.82 | 80.61 | 128.82 | 138.25 | 108.89 |
| Dividend Payout % | 10% | 10% | 9% | 13% | 10% | 25% | 10% | 11% | 9% | 10% | 6% | 9% |
Financials of Shilchar Technologies Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 8 | 8 | 11 | 11 |
| Reserves | 26 | 34 | 46 | 50 | 57 | 57 | 63 | 76 | 118 | 202 | 339 | 479 | 519 |
| Borrowings + | 6 | 0 | 4 | 13 | 16 | 15 | 8 | 17 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities + | 37 | 32 | 30 | 28 | 22 | 27 | 33 | 49 | 56 | 83 | 143 | 100 | 131 |
| Total Liabilities | 72 | 69 | 84 | 96 | 99 | 103 | 107 | 146 | 178 | 292 | 490 | 591 | 662 |
| Fixed Assets + | 18 | 18 | 17 | 16 | 41 | 39 | 37 | 36 | 39 | 41 | 59 | 69 | 68 |
| CWIP | 0 | 0 | 6 | 22 | 0 | 0 | 0 | 0 | 0 | 5 | 0 | 6 | 34 |
| Investments | 1 | 3 | 12 | 6 | 0 | 0 | 1 | 0 | 7 | 20 | 54 | 202 | 185 |
| Other Assets + | 53 | 49 | 49 | 52 | 57 | 64 | 69 | 110 | 132 | 227 | 377 | 313 | 375 |
| Total Assets | 72 | 69 | 84 | 96 | 99 | 103 | 107 | 146 | 178 | 292 | 490 | 591 | 662 |
Financials of Shilchar Technologies Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 20 | 8 | 12 | 5 | 1 | 6 | 10 | -6 | 39 | 76 | 40 | 192 |
| Cash from Investing Activity + | -2 | -3 | -16 | -11 | 1 | -0 | -1 | -1 | -12 | -23 | -48 | -169 |
| Cash from Financing Activity + | -16 | -7 | 3 | 7 | -2 | -4 | -10 | 6 | -19 | -29 | 5 | -31 |
| Net Cash Flow | 2 | -3 | -1 | 0 | -0 | 1 | -1 | -1 | 9 | 25 | -4 | -8 |
| Free Cash Flow | 19 | 6 | 6 | -13 | -4 | 6 | 10 | -9 | 34 | 66 | 21 | 169 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 277% | 95% | 105% | 95% | 19% | 217% | 121% | -13% | 102% | 94% | 45% | 134% |
Financials of Shilchar Technologies Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 103 | 104 | 107 | 115 | 98 | 167 | 96 | 140 | 120 | 86 | 134 | 86 |
| Inventory Days | 38 | 44 | 37 | 66 | 72 | 151 | 109 | 82 | 42 | 87 | 88 | 83 |
| Days Payable | 122 | 112 | 107 | 133 | 73 | 161 | 113 | 93 | 67 | 80 | 102 | 64 |
| Cash Conversion Cycle | 20 | 36 | 38 | 48 | 97 | 157 | 93 | 129 | 96 | 93 | 120 | 105 |
| Working Capital Days | 24 | 56 | 46 | 73 | 90 | 147 | 98 | 91 | 86 | 77 | 112 | 91 |
| ROCE % | 24% | 41% | 43% | 16% | 19% | 4% | 13% | 24% | 54% | 75% | 71% | 51% |
Guidance history
How Shilchar Technologies Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Up 0–2% | Planned | — | Flat |
| Q4 FY26 call → | 0–10% | Flat | Planned | — | — |
| Q2 FY26 call → | 10–20% | 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
12 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 | −14.0% | 44% |
| Last 6 months | −29.3% | 8% |
| Last 3 months | −18.7% | 20% |
The price is 39.2% below its all-time high of ₹6,007.75 (6 Jun 2025). Stocks more than 20% below their peak have their score halved, so 25 became 12.
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 Shilchar Technologies Ltd: 0.4 × 44 + 0.4 × 8 + 0.2 × 20 = 25, halved to 12 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 29 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 Shilchar Technologies Ltd's management said in earlier quarters
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