Batliboi Limited — Q3 FY26
Batliboi reported Q3 FY26 revenue of ₹124 crore, up 30% YoY, driven by broad-based segment improvement despite textile headwinds.
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Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
77%Questions answered1Evaded / deflected11Questions audited
Answered
Medium priority
Details on Surat land bank and monetization plans.
Asked by Deep Sanche, Mana Finance
Management provided specific details on land size and plans.
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Question
Could you share some date on the company's land bank in Surat and any plan of monetization or development plans?
Chairman (implied)
We have 4 acres of land which are for sale. We are still looking at the right customer to give us the right price. We also have surplus land for development which long-term we will develop ourselves.
Answered
High priority
Current debt levels and decline post-merger.
Asked by Deep Sanche, Mana Finance
Management gave specific debt figures and breakdown.
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Question
Can you also comment on the current debt levels especially because we were anticipating decline in debt post the merger.
Chairman (implied)
At the moment we only have a cash credit level of debt which is interest bearing. The promoter's debt is about 40 crores. Our cash credit is about 9 odd crores.
Partial answer
High priority
Plans for FY27 given US trade situation.
Asked by Deep Sanche, Mana Finance
Management discussed macro outlook but did not provide specific FY27 plans or targets.
no specific financial targets given
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Question
How do you think the company is planning to go ahead for FY27? What are your plans?
Chairman (implied)
The textile industry is extremely bullish because at 18% duty we would be amongst the lowest tariff for textiles into the US. The Indo EU treaty also augurs well for our zero liquid discharge business.
Answered
Medium priority
Exports to Bangladesh and related issues.
Asked by Deep Sanche, Mana Finance
Management confirmed exports and explained the LC issue.
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Question
Are we exporting anything to Bangladesh?
Chairman (implied)
Yes, our textile air engineering business has a strong focus of exports in Bangladesh. The problem today is of getting the LCs from Bangladesh which hopefully will get resolved with the election.
Partial answer
Low priority
Solar capacity and payback period.
Asked by Deep Sanche, Mana Finance
Management gave capacity and typical payback but deferred quantifying subsidy benefits.
quantification deferred
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Question
What is the solar capacity if you can just add it? ... What is the payback period for that?
Chairman (implied)
1 megawatt of solar roughly. Generally it is around four years but it can improve also slightly with some benefits that we hope to get from the government of Gujarat.
Answered
High priority
Any impending equity dilutions or acquisitions.
Asked by Duf Maheshwari, Perpet Ventures LLP
Management clearly stated no current dilution plans and status of acquisitions.
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Question
Are there any impeding or proposed equity dilutions?
Chairman (implied)
There is no plan at the moment to have any further dilution of equity unless we get some very interesting acquisition proposals. We are looking at things but no concrete proposal as yet.
Partial answer
Medium priority
Positioning to capture manufacturing growth theme.
Asked by Duf Maheshwari, Perpet Ventures LLP
Management gave qualitative outlook but no specific growth targets or metrics.
no quantitative targets
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Question
How is Batliboi positioned to capture this sentiment change and future growth?
Management (likely CEO or Chairman)
Machine tool manufacturing has vast growth. Textile engineering is looking at non-textile business. Machine tool trading division looks impressive due to defense and aerospace investments.
Answered
High priority
When will guidance be revised upward?
Asked by Duf Maheshwari, Perpet Ventures LLP
Management provided a clear timeline for guidance revision.
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Question
When would you say that you would be comfortable to revise your guidance in the future?
Chairman (implied)
Once we see the fine print of the Indo-US trade agreement and positive signs on the EU side, we will revise our guidance. We will give a better idea towards the end of our Q4 results.
Evasive
Medium priority
Margin profile ranking across divisions.
Asked by NIK Mata, Sequent Investments
Management declined to provide any margin breakdown or ranking despite multiple requests.
refused to rankno numbers given
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Question
If you would like to seek out or rank between these divisions like what kind of margin profile does each of these division have?
Management (likely CEO or Chairman)
It's very difficult to give because it all depends on the mix. It keeps on shifting quarter to quarter. Our margins are no different than industry margins.
Partial answer
High priority
Revenue growth trajectory given order book.
Asked by NIK Mata, Sequent Investments
Management affirmed improvement but did not quantify expected growth.
no specific growth rate given
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Question
Given such a robust order book, should the revenue trajectory be much more aggressive in FY27 or 28?
Management (likely CEO or Chairman)
FY27 will be a new ball game altogether. The guidance for FY27 will be better than what we projected for 26.
Answered
High priority
Are the orders confirmed or LOAs?
Asked by NIK Mata, Sequent Investments
Management clearly explained order recognition policy.
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Question
These 800 to 1,000 crores of orders, are these confirmed orders or are these LOAs of some kind?
Management (likely CEO or Chairman)
We take orders only when they are confirmed and especially where we have either a confirmed LC or we have some kind of an advance. We don't recognize LOIs.
Answered
High priority
Steps to improve margins to double digit.
Asked by Prashant Kumar Utam Lal, Individual Investor
Management gave a clear and honest assessment of margin outlook.
Read the exchange
Question
What steps are we taking to improve margins and how long to reach double digit?
Management (likely CEO or Chairman)
Double digit margins will only happen if all our businesses operate at double digit. Don't expect dramatic change in margins. There'll be marginal improvement.