Trom Industries Q2 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹51 Cr
- P/E
- 7.32
- ROE
- 13.78%
- PEG
- 0.04
- Price to sales
- 0.41
- Debt to equity
- 0.59
- 52W high / low
- ₹98.0 / ₹44.0
- Sales growth (5Y)
- 40.78%
- EBITDA margin
- 8.54%
- Net profit margin
- 5.61%
- Promoter holding
- 69.52%
- Sales (last year)
- ₹123 Cr
Incorporated in 2011, Trom Industries Ltd is engaged in the solar EPC business[1]
Guidance scorecard · Q2 FY26 call
What Trom Industries Ltd's management guided
and where it ranks in Electrical Equipment
Electrical Equipment
RevenueQ2 FY26 call
20–40%- The company is targeting a revenue growth of around 30% for the upcoming financial years (FY26, FY27), aiming to achieve INR120-130 crores.
- Growth is expected through expansion in commercial, industrial, and government markets with new project executions.
- Trom Industries plans to expand geographically beyond Gujarat and Maharashtra into Rajasthan and MP.
- They are focusing on new growth areas such as battery storage systems and green hydrogen, anticipating these will significantly contribute in the near future.
2 more points from Trom Industries Ltd's call on revenue
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MarginsQ2 FY26 call
FlatSee what Trom Industries Ltd said on margins — free account, 30 seconds.
CapexQ2 FY26 call
Planned- Trom Industries is planning to enter and expand in the battery storage system (BSS) market, which is seen as a huge future opportunity in India.
- The company is working on green hydrogen projects and actively participating in seminars and exhibitions, indicating strategic investment in this emerging sector.
- They are also developing a unique and robust manufacturing product, aiming to enter merchant manufacturing, though details are yet to be disclosed.
- The company intends to maintain manufacturing capabilities alongside EPC and RESCO models, expecting 30%-40% growth annually.
- Trom Industries is investing in digital tools and AI for O&M operations, using software like SAP ERP and app-based monitoring systems to improve efficiency.
2 more points from Trom Industries Ltd's call on capex
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FundraisingQ2 FY26 call
PlannedSee what Trom Industries Ltd said on fundraising — free account, 30 seconds.
Order bookQ2 FY26 call
- Current order book is around INR 30 crores that is executable before March 2026.
- Additional smaller orders worth INR 15-20 crores expected to be completed by December 2025.
- Management is targeting INR 120-130 crores orders for FY 2026-27 based on ongoing discussions and pipeline.
- Approximately 27 megawatts of RESCO orders are in the pipeline to be executed within a year.
- Biggest orders include projects from Government Energy Development Agency (GEDA), Jyotindra International, Hermes Technology, and Bihar Renewable Energy (~INR 35 crores).
2 more points from Trom Industries 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 Trom Industries Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Trom Industries Ltd
Quarterly Results
Quarter-by-quarter operating performance
Financials of Trom Industries Ltd
Profit & Loss
Annual income statement trend
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Sales + | 22 | 30 | 24 | 54 | 93 | 123 |
| Expenses + | 22 | 30 | 23 | 46 | 86 | 113 |
| Operating Profit | 1 | 1 | 1 | 8 | 7 | 11 |
| OPM % | 4% | 2% | 5% | 15% | 7% | 9% |
| Other Income + | 0 | 0 | 0 | 0 | 1 | 1 |
| Interest | 0 | 0 | 1 | 1 | 1 | 2 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 0 | 8 | 6 | 10 |
| Tax % | 33% | 25% | 28% | 25% | 25% | 27% |
| Net Profit + | 0 | 0 | 0 | 6 | 5 | 7 |
| EPS in Rs | 290.00 | 360.00 | 290.00 | 8.80 | 5.01 | 7.53 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Trom Industries Ltd
Balance Sheet
Capital structure and asset base
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.01 | 6 | 9 | 9 |
| Reserves | 2 | 2 | 2 | 6 | 38 | 44 |
| Borrowings + | 2 | 1 | 5 | 6 | 15 | 32 |
| Other Liabilities + | 14 | 15 | 14 | 11 | 20 | 19 |
| Total Liabilities | 18 | 19 | 22 | 29 | 82 | 105 |
| Fixed Assets + | 0 | 0 | 0 | 0 | 0 | 1 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 18 | 18 | 21 | 29 | 82 | 103 |
| Total Assets | 18 | 19 | 22 | 29 | 82 | 105 |
Financials of Trom Industries 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 + | 1 | 1 | -2 | -6 | -18 | |
| Cash from Investing Activity + | 0 | 0 | -0 | 2 | -3 | |
| Cash from Financing Activity + | -1 | -1 | 2 | 4 | 38 | |
| Net Cash Flow | 0 | -0 | -0 | 0 | 16 | |
| Free Cash Flow | 1 | 1 | -2 | -6 | -18 | |
| CFO/OP | 177% | 129% | -182% | -72% | -243% |
Financials of Trom Industries Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 174 | 143 | 182 | 83 | 99 | 89 |
| Inventory Days | 18 | 13 | 51 | 113 | 110 | 120 |
| Days Payable | 205 | 169 | 196 | 71 | 52 | 39 |
| Cash Conversion Cycle | -13 | -13 | 37 | 125 | 158 | 170 |
| Working Capital Days | 27 | 19 | 75 | 101 | 116 | 86 |
| ROCE % | 23% | 23% | 66% | 18% | 16% |
Continue your research
What Trom Industries Ltd's management said in earlier quarters
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