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Revenue
₹310 Cr
verified against source
Revenue YoY
22%
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Danish Power delivered a solid FY26 with revenue of ₹521 crore (+22% YoY) and PAT of ₹69 crore (+26% YoY), driven by capacity expansion to 11,000 MVA and strong execution in inverter duty transformers (IDTs). EBITDA margin held at 19% despite commissioning costs and raw material inflation. The order book stands at ₹500+ crore, with 90% executable in FY27. Management guided FY27 revenue above ₹700 crore and maintained 19% EBITDA margin target, though near-term pressure from firm-price orders and commodity volatility (especially transformer oil) may impact Q1. Key growth drivers include battery energy storage (BESS) transformers (20-25% of order book), export expansion (target 15-20% of revenue), and power transformers (245 kV class) expected to contribute from FY28. Risk: Geopolitical disruptions and commodity price spikes could compress margins on legacy fixed-price contracts.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects FY27 revenue to exceed ₹700 crore based on order visibility, capacity ramp-up, and market outlook.
- Management commits to sustaining EBITDA margins around 19%, though power transformer and export ramp-up may cause temporary pressure.
- Management targets export revenue to reach 15-20% of total revenue in FY27, up from 8-9% in FY26.
- Management plans to decide on next phase of capacity expansion within 3 months, potentially doubling current capacity on acquired land.
Risks flagged
- Rising transformer oil, aluminium, and copper prices due to geopolitical tensions could compress margins, especially on fixed-price orders.
- Analyst raised concern that older firm-price orders may face margin erosion; management acknowledged Q1 could see impact but is in active discussions with clients.
- Revenue from higher-voltage power transformers (245 kV) is expected only from FY28, with type testing and customer qualifications taking longer.
- Analyst questioned if new entrants (e.g., Worley) could intensify competition; management downplayed but acknowledged competitive intensity may rise.
Key quotes
- Getting an order right at in the today's last two years or in today's time is not very difficult but getting a good quality order is will remain always a bit of a challenge.
- The product type or the type of transformer does not determine the margin; the margin is determined by the type of customer, the type of value you are offering to the customer.
- We have also slowed down in this month April and May even our clients have we've come to a conclusion with some of our clients okay if they have time let us wait for things to normalize.
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