SUPREMEPOWEREQUIPMENT Q1 FY27 earnings call.
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Revenue
₹48.23 Cr
verified against source
Revenue YoY
37.33%
reported change
EBITDA
₹8.89 Cr
latest reported figure
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Where this quarter sits.
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What the record says.
Supreme Power Equipment Ltd delivered a solid Q1 FY27 with total income of 48.31 crore (+37.33% YoY) driven by healthy execution momentum. EBITDA grew 32.02% to 8.89 crore with 18.4% margin, though margins moderated from prior year levels due to elevated raw material costs and new plant staffing. Net profit stood at 4.9 crore (+10.04% YoY) with EPS of 1.96. The company secured 10 orders aggregating 195.64 crore during the quarter, expanding its order book to 590.90 crore as of August 13, 2026—with 76.91% in power transformers and ~80% covered by price variation clauses for raw material protection. The newly operational Kanpur facility (9,000 MVA capacity, up to 200 MVA/220 KV) is ramping at 20-28% utilization and targets 30-50% by Q4 FY27. Management guides conservatively for FY27 revenue of 250-300 crore versus order book visibility of ~377 crore deliverable by March, citing customer delivery extensions and execution caution. The medium-term roadmap targets 600-650 crore peak revenue with 30% annual growth trajectory. Key risks include new plant ramp-up execution, customer delay extending 10-20% of orders to FY28, and inability to address data center opportunities above 200 MVA without further capacity expansion.
Colored figures show movement against the previous available record.
Guidance to track
- Management targets 250-300 crore revenue for FY27 despite order book visibility of 377 crore, citing customer delivery extensions and execution caution. May potentially exceed 300 crore on optimistic scenario.
- Management expects EBITDA margins to be sustained in the 18-20% range going forward, after moderating from prior year levels due to new plant staffing costs and raw material headwinds.
- Management targets 30% year-over-year revenue increase as a guideline for FY28, implying ~400 crore next year, scaling toward 600-650 crore peak revenue by FY29.
- Company has started paperwork and expects to migrate from SME to Mainboard by Q4 FY27, with management emphasizing this aligns with quarterly reporting culture they have adopted proactively.
Risks flagged
- Kanpur facility ramping slowly at 20-28% utilization versus industry peers achieving 35% next quarter after similar ramp. Workforce training ongoing since February 2026 with 250+ fresh hires requiring 3-4 months of skill development. Q2 improvement expected but full ramp uncertain.
- 10-20% of customers extending delivery timelines due to project delays, causing execution deferral from FY27 to FY28. This creates gap between order book (~377 crore deliverable by March) and conservative revenue guidance (250-300 crore).
- Company cannot manufacture transformers above 200 MVA, limiting participation in data center and hyperscaler opportunities requiring 300-500 MVA ratings. Short circuit testing for 165 MVA units initiated for colo provider approvals in Mumbai and Hyderabad, but FY27 data center revenue expected nil.
- At 400-600 crore revenue target, working capital needs will intensify. Management acknowledged banks have provided adequate limits but equity raise may be required in FY28 to support growth—decision deferred to next year.
Key quotes
- We can we cannot go up to 377 because all the customer will not take the transformer on the date of delivery and for 10-20% customers the orders are extending their delivery period. So depending upon the requirement of the customer we have to manufacture otherwise then we have to keep the transformer in our place. So we are cautiously taking that 250 to 300 crores will be done this year.
- We have approached banks for higher limits and inventory at least 2 months to 2.5 months inventory we have to hold and data cycle will be around 80 to 100 days.
- Demand is very high. From the market information at least minimum 10 years this demand will not subside and not only in India but overall global across globe the demand is good.
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