MACPOWER Q4 FY26 earnings call.
A source-linked concall view: reported numbers, management language, guidance, commitments and risks that should carry forward.
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Revenue
₹100.29 Cr
verification pending
Revenue YoY
—
reported change
EBITDA
₹16.24 Cr
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Macpower CNC Machines delivered its highest ever Q4 and FY26 performance with Q4 revenue of 100.29 crore (+25.34% YoY) and full-year revenue of 333 crore (+27.26% YoY). PAT jumped 33% to 33.87 crore for FY26. The Q4 order book stands at 46 crore (+23% YoY), with Nexa series contributing 40% of pending orders. Management confirmed 28-30% revenue growth guidance for FY27 while maintaining EBITDA margins. The company is acquiring 13 acres of land (30-35 crore capex) for debottlenecking and capacity expansion, with a separate 60-acre government land acquisition delayed due to policy changes but expected within 3-4 months. Average machine realization is rising from 20 lakh to 29-32 lakh for Nexa products. Key risk: capacity constraints limiting near-term execution despite strong demand, with EBITDA margin compression of ~180bps in Q4 due to higher marketing and job work costs. The Indian machine tools market is projected to grow to 54,000 crore by 2030, giving Macpower (1-2% market share) significant runway.
Colored figures show movement against the previous available record.
Guidance to track
- Management confirmed robust growth expectation for FY27 based on strong order book visibility and expanding Nexa product portfolio contributing 40% of pending orders.
- Management targets to maintain current EBITDA margins while attempting incremental improvement through higher Nexa mix and backward integration benefits post new plant.
- Company finalizing 13-acre land acquisition (30-35 crore) for debottlenecking; 60-acre government land expected within 3-4 months post new defense policy announcement.
- Current 2,500 machine capacity will be scaled through phased expansion across new facilities to support long-term growth ambitions.
Risks flagged
- Analyst questioned whether 28-30% growth targets are achievable given capacity ceiling. Management acknowledged constraints but expressed confidence through new plant debottlenecking and phased expansion.
- 60-acre government land originally expected by March 2026 now delayed 3-4 months due to policy changes. Analyst Modi raised concerns about repeated delays despite strong demand environment.
- Q4 margins declined ~180bps YoY due to increased marketing (road shows, exhibitions) and higher job work costs to meet March production targets. Management expects ongoing marketing spend to support growth.
- Finished goods inventory increased to 80 machines vs 18 last year as payment realization lagged. Customers delaying payments requiring follow-up for collections. Cash conversion cycle extended.
Key quotes
- We expected 28 to 30% revenue growth in FY27 which would make yet another strong performance for the company by maintaining EBITDA margin and we'll try to improve it.
- Our market share is compared to our domestic player is just 2% in terms of the value. So we have a plenty of opportunity. Our machine is very very robust and our performance our accuracy is appreciated by our customer.
- I'm not waiting right now for this 60 acre land... we identified 13 acre land and we are almost in finalization stage and we will announce within short time. So we are adding the another three lakh square foot construction.
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