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ADVAIT Diversified 15 Feb 2026

Advait Energy Transitions Limited — Q3 FY26

Advait Energy Transitions delivered a strong Q3 FY26 with consolidated revenue of ₹211 crore (up 114% YoY) and EBITDA of ₹24.16 crore (up 58% YoY).

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Revenue ₹211 Cr +114%
EBITDA ₹24 Cr +58%
PAT ₹17 Cr +78%
EBITDA Margin 11.45%
Duration 68 min
Read Time 1 min read

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2-Minute Summary

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Advait Energy Transitions delivered a strong Q3 FY26 with consolidated revenue of ₹211 crore (up 114% YoY) and EBITDA of ₹24.16 crore (up 58% YoY). PAT grew 78% YoY to ₹17.39 crore. The order book crossed ₹1,000 crore, up 132% YoY, driven by the power transmission division (84% of mix). Management guided for 40-44% revenue growth in FY26 and expects margins to improve over 2-3 years as new businesses mature. Key growth drivers include the PGVCL EPC order (₹216 crore), electrolyzer manufacturing (30 MW plant by March 2026), and BESS assembly (2.5 GWh by Q3 FY27). Risks include margin pressure from new ventures and execution delays in the Kutch solar projects.

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Risk Intelligence

Margin pressure from new business segments

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Quarter Snapshot

Order Book ₹1,048 crore
+132% YoY

Order book crossed ₹1,000 crore milestone, with 84% from power transmission and 16% from renewable energy.

Electrolyzer Capacity (Phase 1) 30 MW
New

First 30 MW electrolyzer assembly unit to be ready by March 15, 2026 in Ahmedabad.

BESS Factory Capacity 2.5 GWh
New

Battery energy storage system assembly plant targeted for commissioning by Q3 FY27.

Capex Incurred (9M FY26) ₹60 crore
New

Total capex incurred in 9 months; expected to reach ₹110 crore by end of FY26.

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Guidance and risk preview

Top guidance FY26 revenue growth of 40-44%

Management expects full-year revenue growth of approximately 40-44% for FY26, driven by the strong order book and execution momentum.

Top risk Margin pressure from new business segments

Consolidated EBITDA margin declined to 11.45% in Q3 FY26 from 15.5% in Q3 FY25, as new renewable energy businesses operate at lower margins.

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