Revenue growth target of 30%+ for next three years
Management committed to at least 30% year-on-year revenue growth for the next three years, backed by strong order pipeline and diversification.
HIRECT / guidance tracker
Keep management guidance in view.
Hind Rectifiers · forward-looking guidance across the available source record.
Research layer active
Guidance tracker
What management said would happen.
revenue
Margin improvement from Q4 FY26
Backward integration of copper conductors is expected to improve gross margins from Q4 FY26 onwards, as supply chain issues are resolved.
Capex of ~₹60 crore for FY26
Capital expenditure for FY26 is estimated at approximately ₹60 crore, funded through a term loan of ₹34 crore and internal accruals.
Belink Solutions funding commitment of €1.5M per year for 3 years
Hind Rectifiers will fund up to €1.5 million annually for three years to support Belink's working capital, aiming to turn it profitable before that.
30% revenue growth expected in FY27
Management expects 30% year-on-year revenue growth for FY27, driven by existing product lines and market share gains.
Margins to improve from Q4 FY26, full benefit from Q2 FY27
EBITDA margins are expected to improve in Q4 FY26 and further in Q1 FY27, with the copper conductor plant contributing fully from Q2 FY27.
Capex of ~INR 60 Cr in FY26
Capital expenditure for FY26 is approximately INR 60 Cr, primarily for the copper conductor plant and other expansions.
Propulsion system trials to complete in 3-4 months
The 50,000 km trial run for the propulsion system on Western Railway is expected to be completed within 3-4 months, enabling participation in upcoming tenders.
Standalone revenue growth of 30% in FY27
Management reaffirmed the target of 30% topline growth on a standalone basis for FY27.
Alventa France PBT breakeven in 6-8 quarters
Alventa France is expected to reach PBT breakeven within six to eight quarters from acquisition.
₹100 crore preferential issue for capacity expansion
Board approved raising ₹100 crore via preferential issue to Tata Mutual Funds for capacity expansion including 20% increase in transformer production and tripling copper conductor capacity.
Propulsion system development orders from Q3 FY27
Expect to start receiving development orders (20% of tender quantity) for propulsion systems from Q3 FY27.