ALFA Finder| Revenue growth | +6.9% QoQ to ₹506.3 Cr; YoY not stated |
|---|---|
| Margins | EBITDA margin down 437 bps QoQ to 11.3%; normalisation claimed |
| Order book | 9,487 pumps order book; EPC 143 MW, pipeline 168 MW |
| Demand visibility | PM Kusum 2.0 timing contradictory: calendar 2026 versus Q1 FY28 |
| Management confidence | Defensive; vague recovery claims, 'transitory' cost framing |
Growth
QoQ revenue +6.9% to ₹506.3 Cr; no YoY figure given. EBITDA ₹57.5 Cr; PAT ₹39.6 Cr at 7.7% margin.
Outlook
Management said FY27 revenue guidance of ₹4,000–4,500 Cr is intact. Solar cell plant: 1.2 GW, ₹455.85 Cr, commercial operations April 2028.
Risks
PM Kusum 2.0 delay; cash conversion cycle up to 257 days; net debt ₹531 Cr; raw material and staffing cost pressure.
Last quarter's promises, checked
Delivered
- Guided 'healthy' order book, no figure → EPC order book 72→143 MW (= BEAT)
Partly delivered
- Guided FY27 revenue +20–25% YoY → H1 ₹980 Cr; YoY not disclosed, unverifiable (= PARTIAL)
- Guided Q2 collections up → ₹208 Cr collected vs ₹305 Cr not yet due (= PARTIAL)
Missed
- Guided FY27 op. EBITDA margin 15–17% → Q2 EBITDA margin 11.3% (= MISS)
- Guided PM KUSUM 2.0 launch in Q2 FY27 → still delayed, timing now 'calendar 2026 vs Q1 FY28' (= MISS)
- Guided CCC to fall, Q2 receivables 'much better' → CCC 244→257 days (= MISS)
Earnings Call Transcript filed with NSE, NSE: OSWALPUMPS. Summary written with AI assistance from the document.
Oswal Pumps Ltd: key numbers
- Share price
- ₹228.97
- Market cap
- ₹2,610 Cr
- Revenue (annual)
- ₹2,064 Cr
- Net profit (annual)
- ₹376.3 Cr
- P/E (TTM)
- 9.4×Sector 52.1×
- Promoter holding
- 75.65%+0.00% QoQ
- FII holding
- 0.07%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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- Key figure
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Oswal Pumps Board Meeting Date
Oswal Pumps Limited will hold a board meeting on November 12, 2026. The board will consider unaudited standalone and consolidated financial results for the quarter ended September 2026.