Order Book
₹125 Cr
+102% YoY
Order book doubled from ~₹62 Cr in FY25, providing strong revenue visibility for FY27.
APEXECOTECH
Information Technology
15 May 2026
Apex Ecotech Limited — Q4 FY26
Apex Ecotech delivered a stellar FY26 with revenue surging 109.5% YoY to ₹148.65 crore and PAT growing 98.85% to ₹17.02 crore, driven by strong execution of marquee orders from Reliance, L&T, and others.
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
Apex Ecotech delivered a stellar FY26 with revenue surging 109.5% YoY to ₹148.65 crore and PAT growing 98.85% to ₹17.02 crore, driven by strong execution of marquee orders from Reliance, L&T, and others. The order book stood at ₹125 crore as of March 31, 2026, providing high visibility. H2 revenue of ₹116.08 crore (up 135.7% YoY) reflected the bulk of execution. EBITDA margin contracted ~90bps to 14.64% due to raw material cost spikes and large-client pricing pressure, but management expects to protect margins via price pass-through. Guidance implies 30-40% revenue growth for FY27, with the full order book expected to convert. Key risk: margin compression if commodity prices remain elevated and new orders do not fully compensate.
Key Numbers
H2 Revenue
₹116.08 Cr
+135.7% YoY
H2 revenue accounted for 78% of full-year revenue, reflecting backend-loaded execution.
EPS
₹12.91
+63.2% YoY
EPS growth lagged PAT growth due to weighted average share count; no equity dilution.
Cash & Bank Balance
₹35.06 Cr
+142% YoY
Cash used primarily as collateral for bank guarantees to support large project orders.
Management Guidance
30-40% revenue growth target for FY27
Management reiterated a target of at least 30-40% overall growth for FY27, building on the FY26 base.
Management guidance revenueFull order book conversion in FY27
The entire ₹125 crore order book is expected to convert into revenue within FY27, given a gestation period of 10-12 months.
Management guidance growthMargin protection via price pass-through
Management stated that new orders will include price adjustments for higher commodity costs to protect EBITDA margins.
Management guidance marginsKey Risks
Raw material cost volatility
Metal prices rose 25-40% in H2, compressing margins. If prices remain elevated, margins could face further pressure.
high · management_commentaryCustomer concentration
Large orders from Reliance and L&T increase dependency; any slowdown or loss of these clients could impact revenue.
medium · analyst_questionOrder book decline perception
An analyst noted order book declined from ₹145 Cr (May 2025 presentation) to ₹125 Cr, raising questions about growth sustainability.
medium · data_observationNotable Quotes
FY26 has been a defining and transformational year for Apex Eotech.
We have to be prudently aggressive.
If we do nothing we'll do 125 [crores] right.
Frequently Asked Questions
What was Apex Ecotech's revenue in Q4 FY26?
Apex Ecotech reported revenue of ₹149 Cr in Q4 FY26, representing a +109.5% change compared to the same quarter last year.
What guidance did Apex Ecotech management give for FY27?
30-40% revenue growth target for FY27: Management reiterated a target of at least 30-40% overall growth for FY27, building on the FY26 base. Full order book conversion in FY27: The entire ₹125 crore order book is expected to convert into revenue within FY27, given a gestation period of 10-12 months. Margin protection via price pass-through: Management stated that new orders will include price adjustments for higher commodity costs to protect EBITDA margins.
What are the key risks for Apex Ecotech in FY27?
Key risks include Raw material cost volatility — Metal prices rose 25-40% in H2, compressing margins. If prices remain elevated, margins could face further pressure.; Customer concentration — Large orders from Reliance and L&T increase dependency; any slowdown or loss of these clients could impact revenue.; Order book decline perception — An analyst noted order book declined from ₹145 Cr (May 2025 presentation) to ₹125 Cr, raising questions about growth sustainability..
Did Apex Ecotech meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Apex Ecotech Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.