Shilchar Technologies Ltd — Q4 FY26

Shilchar Technologies reported Q4 FY26 revenue of ₹152 crore with EBITDA margin of 21%, significantly below historical levels due to two temporary disruptions: US tariff uncertainty dampened order intake in Q3, and the Middle East crisis prevented ~₹35 crore of shipments in March. Full-year revenue grew 5% YoY to ₹652 crore, with PAT up 8% to ₹158 crore. Management expects a strong rebound in Q1 FY27 as shipments resume and price hikes are negotiated with customers to offset commodity inflation (transformer oil prices doubled). Order book stands at ₹452 crore, supporting FY27 revenue guidance of ₹800 crore. The new 6,500 MVA capacity expansion remains on track for April 2027 commissioning. Key risk: inability to fully pass on raw material cost increases to customers could compress margins further.