FY26 Revenue: Similar to FY25 or slightly higher
Management expects FY26 revenue at similar level to last year or slightly higher, noting deliberate business rationalization ongoing alongside new business ramp-up.
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Kalyani Forge · forward-looking guidance across the available source record.
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revenue
FY26 EBITDA margin improvement on full-year basis
EBITDA margin expected to show some improvement for FY26 overall compared to prior year, though Q3's 15.7% represents record and focus is on stabilizing at this level.
30 crore new business productionization in FY26
Company aims to productionize 30 crore of new business by March end FY26, with approximately 20 crore already done in 9 months; projects in final launch phase.
18 crore capex spent through Q3 of 25 crore budget
Of 25 crore FY26 capex budget, approximately 18 crore has been spent through Q3, with remainder to be completed in Q4; turnaround time for projects monitored for efficiency.
20% EBITDA Margin Target by FY27 Year-End
Management stated 15% is now the floor and baseline minimum, with a clear target to move closer to 20% EBITDA margin by end of FY27 or early FY28, driven by business mix optimization and operational efficiency gains.
FY27 Capex of 30 Crores
New capex plan of 30 crores with 60% allocation to future growth areas (drive line, axle, new programs), 5 crores for existing business, and 10 crores each for ramp-up and new business.
300 Crores Steady-State Revenue
At fixed asset turnover ratio of 3x with current PPE of ~97 crores (including CWIP), management sees 300 crores as achievable steady-state revenue level.
Cash Conversion Cycle of 120-130 Days
Target reduction from current elevated levels through improved credit controls, inventory rationalization, and better payables management.