Felix Industries / Q3-FY26

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Positive2026-02-15Back to FELIX

Revenue

₹26.78 Cr

verified against source

Revenue YoY

—

reported change

EBITDA

Pending

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Revenue (₹ Cr)PositiveWatchNegative
2 actual records
Actual quarterly Revenue (₹ Cr) trajectoryReported values plotted by quarter. Hover or focus a point for its quarter, value, and source sentiment.Q3 FY26: 26.8 · Positive source sentiment · 2026-02-15Q3 FY26Q4 FY26: 37.4 · Positive source sentiment · 2026-05-15Q4 FY2637.426.8
Values are taken from the available verified source records; sentiment color is a separate source-read indicator.

Quarter read

What the record says.

Felix Industries reported Q3 FY26 revenue of ₹65 crore for the 9-month period, with Q3 alone contributing ₹45 crore, driven by strong execution in EPC and Oman operations. The company reiterated its FY27 revenue guidance of ₹180-200 crore, underpinned by a ₹45 crore Oman LNG contract (5-year open order), expanding oil processing capacity from 30 TPD to 100 TPD, and a plastic recycling acquisition targeting ₹7 crore monthly revenue. Management emphasized a shift toward high-margin O&M contracts (40-50% margins) and expects EBITDA margins of 25-30%. Key risks include execution dependency on a few large projects and potential delays in the plastic acquisition closure.

Colored figures show movement against the previous available record.

Guidance to track

  • Management expects FY27 revenue between ₹180-200 crore, comprising ₹50 crore India O&M, ₹60-75 crore Oman, ₹50 crore EPC, and ₹20 crore from plastic recycling.
  • Oman oil processing capacity to increase from current 30 TPD to 60 TPD in 2 months and 100 TPD by end of FY27, targeting monthly revenue of ₹10-11 crore at full capacity.
  • Plastic recycling capacity to expand from 300 tons/month to 1,000 tons/month within 3 months, generating ₹6-7 crore monthly revenue.
  • Company plans to apply for main board listing after completing audits for FY26, targeting migration in FY27.

Risks flagged

  • Q4 revenue jump depends on timely delivery of a large EPC contract; any delay could impact FY26 guidance.
  • The plastic recycling acquisition is still under negotiation; exact investment and timeline remain undisclosed.
  • Current debt of ₹18 crore and pending working capital enhancement may limit ability to bid for large O&M contracts.
  • A significant portion of FY27 Oman revenue relies on successful execution of the ₹45 crore Oman LNG contract; any shortfall could impact guidance.

Key quotes

  • We are a technology company not a contracting company.
  • If this contract is successfully delivered then the gates open for very large companies there.
  • We are focused towards increasing our O&M revenue on a month-on-month basis.

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