Danish Power Ltd — Q4 FY26
Danish Power delivered a solid FY26 with revenue of ₹521 crore (+22% YoY) and PAT of ₹69 crore (+26% YoY), driven by capacity expansion to 11,000 MVA and strong execution in inv...
bullish
high
✓ Verified against BSE filing
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
71%Questions answered1Evaded / deflected12Questions auditedContradictedNumbers vs filing
Partial answer
High priority
Capacity utilization, export geographies, and type testing timeline for higher KV class.
Asked by CA Koshul Sharma, Equinox Capital Venture Private Limited
Management gave qualitative answers but avoided precise peak utilization and order timeline.
no specific peak potential numbertimeline deferred to FY28
Read the exchange
Question
what kind of peak potential can we get from out of this and what is current level... which geographies are we targeting... what kind of timelines is there to get the orders after the test is done?
Management (not named)
we were at roughly 80% utilization... Middle East, Europe, Africa and Australasia... revenue real revenue from the higher voltage power transformers would come in in the next financial year FY28 only
Partial answer
High priority
Capacity utilization ramp-up timeline and margin impact from raw material prices.
Asked by Hazel Ratford, Philip Capital
Management gave directional guidance but no specific numbers for utilization or margin impact.
no specific utilization percentagemargin impact not quantified
Read the exchange
Question
can we expect you know us to reach an optimal utilization in H1 itself or somewhere around H2?
Management (not named)
H1 we will not be able to reach that... good utilization would probably definitely come in H2... Q1 for this year will somewhere be impacted
Answered
High priority
BESS transformer demand and company's preparation, order book contribution from BESS.
Asked by Naman Parmar, Nvesha Investments
Management provided a clear percentage range for BESS contribution.
Read the exchange
Question
how much would be the best projects contributing?
Management (not named)
it should be about 20 25% roughly.
Answered
High priority
Proportion of orders with price variation clause vs fixed price.
Asked by Naman Parmar, Nvesha Investments
Management gave a specific percentage for price variation orders.
Read the exchange
Question
how much orders are having a price variation clause and how much are fixed
Management (not named)
around 30% of the orders should be on price variation
Answered
Medium priority
Backward integration details and its impact on mitigating input material issues.
Asked by Jetin Parmar, Orurum Capital
Management explained the specific bottleneck and plan for backward integration.
Read the exchange
Question
what is this backward integration what will it entail?
Management (not named)
sheet metal fabrication equipment... we are wanting to make sure we can do this within our premises... to control the lead times
Answered
High priority
MVA production projections for FY27 and FY28.
Asked by Jetin Parmar, Orurum Capital
Management provided specific MVA targets for both years.
Read the exchange
Question
FY27 and FY28 what is it that we can do or what is our projection for the next two years.
Management (not named)
FY27 we are expecting at least 7 to 8,000 MVA... FY28 somewhere more than 10,000 MVA
Partial answer
High priority
Why margins cannot return to older 21% level and sustainability of current margins.
Asked by Jetin Parmar, Orurum Capital
Management gave a sustainable range but did not commit to returning to higher margins.
no clear path to return to 21%uncertainty cited
Read the exchange
Question
why we can't move back to our older margins or do you see challenges in that?
Management (not named)
somewhere between 19 and 20% is something that is sustainable... objective will definitely remain if we can go back to 20 plus 21
Partial answer
Medium priority
Export margin differential and target export share for FY27.
Asked by Jetin Parmar, Orurum Capital
Management gave a range for margin differential and export share but not precise figures.
no average margin differential givenexport share target is a range
Read the exchange
Question
what is the differential you get when you do exports higher margin wise... what would be the target
Management (not named)
somewhere probably it is up to three or 4% extra... this year we are hopeful that at least we should be touching 15 to 20%
Answered
High priority
Revenue potential from current capacity at 10,000 MVA utilization.
Asked by Pars Data, Purple One Vortex Ventures LLP
Management provided a specific revenue range for the capacity.
Read the exchange
Question
what kind of ballpark approx revenue range does this indicate... greater than 10,000 MVA
Management (not named)
somewhere between 900 to a,000 crores
Partial answer
High priority
Timeline and scale of next expansion phase using available land.
Asked by Pars Data, Purple One Vortex Ventures LLP
Management gave a tentative timeline and broad capacity increase range.
decision timeline is tentativescale is a range
Read the exchange
Question
is there a timeline by which we sort of take a decision in terms of next level of expansion
Management (not named)
hopefully next three months... we should be able to further at least increase by 80% or maybe double up as well
Evasive
Medium priority
How company safeguarded margins compared to peers and impact of commodity prices.
Asked by Yogani, Analytics (unclear)
Management did not provide concrete reasons for margin resilience, only generic statements.
no specific actions citeddeflected to general philosophy
Read the exchange
Question
how we've been able to safeguard our margins while other players have got a hit on the margins.
Management (not named)
the quality of order matters... getting a good quality order is will remain always a bit of a challenge
Answered
High priority
Proportion of FY27 revenue covered by current executable order book.
Asked by Mandra, Invesco
Management gave a clear percentage of order book execution timeline.
Read the exchange
Question
what proportion of FY27 revenue visibility supported by your current executable order book
Management (not named)
almost 90% of it is supposed to be executed in next 6 to 9 months
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| Revenue potential of 900-1,000 crore at 10,000 MVA | ₹950 cr | ₹310 cr | Overstated vs filing |
| Margin sustainable at 19-20% | 19.5% | 18% | Overstated vs filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.