Rishabh Instruments earnings calls.

Rishabh Instruments delivered a strong Q3 FY26 with consolidated revenue of Rs 183.6 croresCurrent reported value: Rs 183.6 crores. No comparable prior figure is available in the source record. (up 1.3Current reported value: 1.3. No comparable prior figure is available in the source record.% YoY) and EBITDA of Rs 31.4 croresCurrent reported value: Rs 31.4 crores. No comparable prior figure is available in the source record. (up 119.5% YoY), translating to 17.1% margin—920bps expansion versus Q3 FY25. The standout performer was the standalone Rishabh India business with 26.3% EBITDA margins (1,375bps improvement YoY) and 110% PAT growth to Rs 8.4 crores. Management has already achieved their full-year EBITDA guidance of Rs 100.9 crores within 9 months and now targets Rs 115-120 croresCurrent reported value: Rs 115-120 crores. No comparable prior figure is available in the source record. for FY26. The EI segment is guiding 20-25% perpetual growth, while the aluminium diecasting segment (Lumalcast) faces continued automotive headwinds with ~Rs 50-60 crore revenue decline expected in FY27, though management targets 5% EBITDA margins and double-digit margins by FY28. Key risks include tariff uncertainty (18% US duty may not materialize), European demand softness, and margin dilution risk from lower-margin solar/EMS businesses as the Nashik facility ramps up in H2 FY27.