Sugs LloydQ1 FY27
Sugs Lloyd Q1 FY27 Earnings Call Analysis
Revenue, margin, capex, fundraise and order book outlook from management commentary.
Price: ₹203P/E: 15.1Market Cap: ₹458 CrSector: Electrical Equipment
Management growth scorecard
Revenue
N/A
Margin
N/A
Fundraise
N/A
Order
N/A
Capex
N/A
0 of 0 growth signals are positive — mixed outlook.
Full analysisRevenue guidance
- →Targeting INR1,000 crores revenue in FY28, requiring INR2,000-2,500 crores unexecuted order book by year-end FY27.
- →Confident of achieving INR600 crores revenue guidance for FY27 despite Q1 seasonality and initial project teething issues.
- →Revenue growth driven by strong order book (~INR807 crores as of June 2026), with multiple tenders in pipeline (~INR1,350 crores).
- →Product business (including FPIs, auto reclosers, VCBs, RMUs) expected to grow, contributing up to 10% of total revenue by FY28.
- →New segments like transmission and Battery Energy Storage System (BESS) expected to add meaningful revenue from H2 FY27 onwards.
- →Power transmission/distribution and solar EPC segments expected to contribute ~40-45% each to revenue in FY28.
- →Continuous inflow of orders expected; business growth constrained more by execution capacity than order availability.
Margin guidance
- →The company aims to achieve INR1,000 crores in revenue by FY28, requiring an unexecuted order book between INR2,000 to INR2,500 crores by FY26 end.
- →Sustainable EBITDA margins around 15% are expected, supported by high-margin product segments growing alongside EPC business.
- →ROE was 30% last year; projections are not formally provided but management is open to discussions.
- →Earnings growth is underpinned by expanding product lines (FPIs, auto reclosers, RMUs, VCBs), entry into new verticals like transmission and Battery Energy Storage Systems (BESS).
- →Recurring revenue streams are emerging from service contracts (e.g., 10-year FPI service contracts).
- →The management anticipates continued margin sustainability or improvement despite scaling and some differing segment margin profiles.
- →Operating profits and EPS are expected to grow consistently with revenue, bolstered by better margin product segments and order book quality.
3 more insights locked — sign up free to unlock
Fundraise plans
No information is provided regarding the same in the latest conference call.
Order book
- →Current order book stands at INR 807 crores (net of GST) with visibility of execution over 18 to 24 months.
- →Majority of current orders are from existing/repeat customers.
- →Existing tenders in the pipeline amount to around INR 1,350 crores with a strike rate of 15-20%.
- →From recent evaluation of INR 1,200 crores tenders, INR 70 crores have been awarded; some are under evaluation.
- →To achieve revenue target of INR 1,000 crores in FY28, the company aims to have an unexecuted order book between INR 2,000 to 2,500 crores by end of the current financial year.
- →Order inflows are continuous and dependent on government and customers; management confident of building order book by year-end without aggressive booking.
- →Bid pipeline remains strong with multiple opportunities; order booking not a concern, execution is the main focus.
Capex plans
No information is provided regarding the same in the latest conference call.
How does Sugs Lloyd rank vs peers in Electrical Equipment?
Pro feature1Sugs Lloyd
See full Electrical Equipment sector rankings
How does Sugs Lloyd rank in Electrical Equipment?
Compare Sugs Lloyd against every Electrical Equipment company (Q1 FY27) on revenue, margins and earnings-call signals.