Any current/future new fundraising through debt or equity?

There is no explicit mention of any ongoing or planned fundraising through debt or equity in the provided transcript. The company mentioned that the previous roadblock was money, but now they have the necessary funds ("UpƟl now only roadblock was money, we have that now"). They are optimistic about growth and expansions funded through existing resources. No specific details about new equity issuance or debt raising were discussed. The focus is on organic growth, capacity expansions (OIP by Feb 2025, RIP by March 2026), and leveraging government schemes like PLI for incentives rather than exter

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

YASH Highvoltage is undertaking an OIP bushing capacity expansion expected to go live by end of February 2025. A Greenfield expansion for RIP bushings is planned, with the facility ready for commissioning by March 2026. The new RIP capacity aims to scale up to 6,000 units initially, with a longer-term goal of 10,000 units over 7 years. This expansion is critical due to high demand and supply constraints globally. The company is actively engaging with the Ministry of Power & CEA to avail benefits under the Government of India’s Production Linked Incentive (PLI) scheme for RIP bushing. The expan

Future growth expectations in sales/revenue/volumes?

Current revenue is approximately Rs. 140 Crore with a CAGR of around 25% over past 5-7 years. Post new RIP capacity expansion (6000 units), expected revenue can reach Rs. 400 to Rs. 500 Crore over the next 5 years. Capacity planned to scale to 10,000 units of RIP Core and 10,000 units of RIP bushings over 7 years. Growth driven by increased domestic demand and gradual replacement of imported bushings, supported by strong order book projecting growth beyond current sales. Export currently 40% of sales in OIP and High Current Bushings, with RIP currently not exported due to market restrictions.

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

YASH Highvoltage aims to grow revenue from the current ~Rs. 140 Crore to Rs. 400-500 Crore over the next 5 years, driven primarily by capacity expansions in RIP bushings. The new RIP bushing greenfield facility is expected to start commissioning by March 2026, enabling scale-up from 6,000 units to potentially 10,000 units over 7 years. Sales growth projection for next year is based on the current healthy order book, indicating growth beyond this year's sales. EBITA margins: High current bushings ~45%, RIP bushings ~20-22%, OIP bushings ~13-15%. Material to sales ratio (gross margin): R

Current/ Expected Orderbook/ Pending Orders?

The company does not disclose explicit order book numbers. It reports having a "very healthy order book." Current order book covers next year's sales and revenue budget projections and beyond. Orders are generally booked for 1.5 to 2 years ahead. RIP bushing manufacturers have a lead time of 9 to 12 months from order to availability. Transformer manufacturers’ orders are booked for 1.5 to 5 years (India: 1.5 to 2 years; Europe/USA: 3 to 5 years). Demand is well locked-in, with new capacity expansions expected to contribute to future orders. Expansion for OIP bushings to be completed by end Feb

Yash Highvoltage LtdQ3 FY25Electrical Equipment

Yash Highvoltage Ltd Q3 FY25 Earnings Call Analysis

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

Price: ₹1,264.75P/E: 97.1Market Cap: ₹3.8K CrSector: Electrical Equipment

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

N/A

Order

Yes

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

Current revenue is approximately Rs. 140 Crore with a CAGR of around 25% over past 5-7 years.
Post new RIP capacity expansion (6000 units), expected revenue can reach Rs. 400 to Rs. 500 Crore over the next 5 years.
Capacity planned to scale to 10,000 units of RIP Core and 10,000 units of RIP bushings over 7 years.
Growth driven by increased domestic demand and gradual replacement of imported bushings, supported by strong order book projecting growth beyond current sales.
Export currently 40% of sales in OIP and High Current Bushings, with RIP currently not exported due to market restrictions.
Market share expected to expand, consolidating position among top 5 global transformer bushing players.
Lead time for orders is 9-12 months, with booking aligned with transformer manufacturers’ 1.5-2 years order horizon.

Margin guidance

Category 3

YASH Highvoltage aims to grow revenue from the current ~Rs. 140 Crore to Rs. 400-500 Crore over the next 5 years, driven primarily by capacity expansions in RIP bushings.
The new RIP bushing greenfield facility is expected to start commissioning by March 2026, enabling scale-up from 6,000 units to potentially 10,000 units over 7 years.
Sales growth projection for next year is based on the current healthy order book, indicating growth beyond this year's sales.
EBITA margins: High current bushings ~45%, RIP bushings ~20-22%, OIP bushings ~13-15%.
Material to sales ratio (gross margin): RIP ~60%, OIP 70-75%, high current bushings 30-35%.
The company has maintained ~25% CAGR over past 5-7 years reflecting healthy, proportional growth alongside the transformer industry.
Export share currently 40% in OIP and high current bushings; RIP export currently restricted but expected to grow post expansion.

See what Yash Highvoltage Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

There is no explicit mention of any ongoing or planned fundraising through debt or equity in the provided transcript.
The company mentioned that the previous roadblock was money, but now they have the necessary funds ("UpƟl now only roadblock was money, we have that now").
They are optimistic about growth and expansions funded through existing resources.
No specific details about new equity issuance or debt raising were discussed.
The focus is on organic growth, capacity expansions (OIP by Feb 2025, RIP by March 2026), and leveraging government schemes like PLI for incentives rather than external fundraising.
The company highlighted a healthy order book and self-funded expansions over the next 3-5 years.

Order book

Yes

The company does not disclose explicit order book numbers.
It reports having a "very healthy order book."
Current order book covers next year's sales and revenue budget projections and beyond.
Orders are generally booked for 1.5 to 2 years ahead.
RIP bushing manufacturers have a lead time of 9 to 12 months from order to availability.
Transformer manufacturers’ orders are booked for 1.5 to 5 years (India: 1.5 to 2 years; Europe/USA: 3 to 5 years).
Demand is well locked-in, with new capacity expansions expected to contribute to future orders.
Expansion for OIP bushings to be completed by end Feb 2025; RIP core expansion commissioning ready by March 2026, followed by testing and development.

See what Yash Highvoltage Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

YASH Highvoltage is undertaking an OIP bushing capacity expansion expected to go live by end of February 2025.
A Greenfield expansion for RIP bushings is planned, with the facility ready for commissioning by March 2026.
The new RIP capacity aims to scale up to 6,000 units initially, with a longer-term goal of 10,000 units over 7 years.
This expansion is critical due to high demand and supply constraints globally.
The company is actively engaging with the Ministry of Power & CEA to avail benefits under the Government of India’s Production Linked Incentive (PLI) scheme for RIP bushing.
The expansion is expected to drive revenue growth, potentially reaching Rs. 400-500 crore over 5 years.
Initial scaling will be gradual due to stringent product testing and approval requirements.

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