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Revenue
₹365 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹59.2 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Everest Kanto delivered a strong Q3 FY26 with consolidated EBITDA up 48% YoY to ₹59.2 crore and PAT surging 98.9% to ₹35.7 crore. Margin expansion of 534 bps to 16.2% was driven by a favorable product mix shift toward higher-margin segments (defense, semiconductor, CNG CV cylinders) and cost discipline. Standalone EBITDA margin reached 23.1%. Management guided for sustainable 15-17% consolidated margins and 15-20% revenue growth in FY27. Key growth drivers include the Mundra greenfield facility (one line operational, two more coming), Egypt plant (commissioning by May '26, ₹50-60 crore revenue potential), and a US capacity expansion backed by customer contracts (₹100 crore incremental revenue by FY28). UAE operations remain subdued but are expected to break even in FY27. Risk: UAE recovery may be slower than anticipated, and product mix volatility could pressure margins.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects consolidated EBITDA margins to remain in the 15-17% range going forward, supported by product mix and cost discipline.
- The company targets 15-20% revenue growth in FY27, driven by new capacities and demand recovery.
- The Egypt plant is expected to start production by May 2026, with first-year revenue potential of ₹50-60 crore.
- A $5.5 million capex in the US subsidiary, backed by customer contracts, is expected to generate incremental revenue of ~₹100 crore by FY28.
Risks flagged
- UAE operations remain subdued; management expects break-even only at 10% higher revenue, with no clear timeline for recovery.
- Margins are influenced by product mix each quarter; a shift toward lower-margin products could compress profitability.
- The company has an ongoing GST case in India with no update or timeline for resolution, posing potential financial risk.
Key quotes
- We delivered a strong performance in Q3 FY26 with a notable improvement in profitability driven by improved realization, favorable product mix and continued focus on cost discipline.
- We have approved an capex of USD 5.5 million in our wholly owned subsidiary CPI industries to enhance manufacturing capabilities with a focus on larger diameters and type four cylinders.
- This capacity expansion is exactly as per the customer contract. So we expect that about additional 100 crores should be added to the top line once this expansion is complete in FY28.
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