SUPREMEPOWEREQUIPMENT Q3 FY26 earnings call.
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Revenue
₹35.83 Cr
verified against source
Revenue YoY
33.5%
reported change
EBITDA
₹5.28 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
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What the record says.
Supreme Power Equipment reported Q3 FY26 revenue of ₹36.03 crore (+33.5% YoY) with EBITDA of ₹5.28 crore and PAT of ₹3.38 crore (+6.34% YoY). Performance was below optimal capacity (~₹45 crore) due to a ₹5-10 crore deferred revenue from customer payment delays on finished goods awaiting dispatch. Management confirmed the new facility is 95% complete with trial production underway and first commercial invoice targeted for end of January. The order book stands at ₹301 crore with a ₹700-800 crore pipeline (10-20% conversion expected), providing strong visibility. FY26 revenue guidance of ₹180-200 crore remains intact with Q4 expected at ₹70-80 crore including ~₹30-40 crore from the new plant. FY27 target is ₹300 crore with potential to reach ₹400-500 crore by FY28. Gross margins face temporary pressure from copper price volatility but management expects to sustain 10-12% net margins going forward. Key risk: skilled labor ramp-up at the new facility and execution on the aggressive Q4 revenue target.
Colored figures show movement against the previous available record.
Guidance to track
- Management maintained full-year guidance despite Q3 shortfall. Q4 is expected to deliver ₹70-80 crore including ~₹30-40 crore from the new facility, leveraging the existing ₹301 crore order book.
- Management guided for 300 crore+ revenue in FY27, representing ~50% growth from FY26 expected base, driven by new plant ramp-up and geographic expansion into Karnataka (30-40% contribution) and Kerala (10%).
- Analyst raised question on FY28 potential and management confirmed possibility of reaching 400-500 crore, contingent on order book conversion and capacity utilization of the new facility.
- Management expects to sustain 10-12% net margins going forward, with larger power transformers (new product line) potentially adding 1-2% margin improvement, offset by increased workforce costs during ramp-up.
Risks flagged
- Q3 revenue of ₹36.03 crore fell short of the ₹45 crore optimum capacity utilization level due to ₹5-10 crore finished goods awaiting customer payment and dispatch. Management confirmed this will be recognized in Q4.
- The new plant is expected to contribute ₹30-40 crore in Q4 FY26 alone, but management flagged skilled workforce deployment as the primary challenge. Only 30% of planned manpower is currently deployed, and environmental clearance (PCB) is still pending.
- Copper prices fluctuated sharply in December 2025, causing Q3 margin compression. Management passes through only the copper cost portion (20% of product cost) but cannot fully offset timing mismatches during price volatility periods.
- Multiple transformer manufacturers are adding capacity. While management sees no immediate margin pressure, the competitive landscape in Karnataka and newer geographies could intensify, particularly if demand supply dynamics shift.
Key quotes
- We believe that we will achieve the target of 180 to 200 crores. So that means there was a delay because of the environment and clearance uh was delayed. So that was the reason we are not able to invoice.
- We are expecting more than 300 crores next year. We are still confident for 26 right. So yes on 180 cr turnover for this year we will be targeting around 300 cr for next year.
- We have drastically brought down from 210 to 80 days we have brought it down and we have improved the collection mechanism and we have stopped giving credits to all customers.
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