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Earnings Call

Rajesh Power Services Earnings Call: Key Takeaways

Rajesh Power delivered strong FY26 results with 52% revenue growth, driven by underground cabling and substation execution. Strategy shifts towards expanding national footprint and entering the BESS segment.

Highlights
Revenue growth52% YoY for FY26; H2FY26 grew 30%.
MarginsEBITDA margins steady at 11-12%; PAT margins 8-9%.
Order book₹3,326Cr as of March 2026; ₹2,200Cr in L1/pending bids.
Demand visibilityAddressable market opportunity estimated at ₹14,000-15,000Cr annually.
Management confidenceSticking to 40% growth guidance; confident in execution timelines.

Growth

FY26 revenue up 52% to ₹1,628Cr; EBITDA up 59% to ₹197Cr; PAT grew 48% to ₹143Cr.

Outlook

Guided 40% CAGR for FY27; targeting ₹4,000-5,000Cr order inflows and expanding into BESS EPC.

Risks

Geographic concentration (85-90% Gujarat), commodity price volatility, and working capital spikes in receivables/inventories.

Source

Earnings Call filed with BSE, BSE: 544291. Summary written with AI assistance from the document.

Read the document ↗

Rajesh Power Services Ltd: key numbers

Share price
₹747.40
Market cap
₹1,346 Cr
Revenue (annual)
₹1,628 Cr
Net profit (annual)
₹143.2 Cr
P/E (TTM)
9.4×Sector 25.1×
Promoter holding
72.70%
FII holding
0.68%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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