Order Book
₹452 Cr
+12% YoY
Order book as of March 31, 2026, providing visibility for FY27.
SHILCHARTECHNOLOGIES
Information Technology
15 May 2026
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 cror...
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
Capacity Utilization (Dispatches)
79%
+2pp YoY
Dispatched 6,000 MVA out of 7,500 MVA capacity; production utilization higher.
Export Share (Q4)
34%
-16pp YoY
Export revenue of ₹52 crore vs domestic ₹100 crore; Middle East crisis impacted dispatches.
US Revenue Share (FY26)
18-19%
Flat YoY
US tariff volatility reduced orders; now normalized with 10% tariff.
Management Guidance
FY27 Revenue Target of ₹800-850 Crore
Management guided for FY27 revenue of ₹800 crore, with potential to reach ₹850 crore, supported by strong order book and demand recovery.
Management guidance revenueEBITDA Margin Improvement to 29-31%
Management aims to restore EBITDA margins to historical 29-31% levels through price hikes and normalization of commodity costs.
Management guidance marginsNew Capacity Commissioning in April 2027
The 6,500 MVA expansion at GIDC is on track for commissioning in April 2027, with ₹120 crore capex funded internally.
Management guidance capexVolume Growth to ~7,000 MVA in FY27
Management targets dispatches of ~7,000 MVA in FY27, implying ~17% volume growth over FY26's 6,000 MVA.
Management guidance growthKey Risks
Raw Material Cost Pass-Through Uncertainty
Sharp increase in transformer oil (100%) and other commodities (10-25%) may not be fully passed on to customers, pressuring margins.
high · analyst_questionMiddle East Logistics Disruptions
Geopolitical tensions in West Asia could again disrupt shipments, as seen in Q4 when ~₹35 crore of exports were delayed.
medium · management_commentaryCapacity Utilization Constraints
Existing facility is near full capacity; any further growth depends on timely commissioning of new capacity and maintaining high utilization.
medium · data_observationBushing Supply Chain Lead Times
Long lead times for bushings (key component for 220 kV transformers) could delay production ramp-up at new facility.
low · analyst_questionNotable Quotes
We have a very strong order book as of now, we have an order book of almost 452 cr.
The oil prices have become almost double than what we used to buy in month of February.
We will do our best to maintain the same similar margin what we have been doing in past few years.
Frequently Asked Questions
What was Shilchar Technologies's revenue in Q4 FY26?
Shilchar Technologies reported revenue of ₹152 Cr in Q4 FY26, representing a — change compared to the same quarter last year.
What guidance did Shilchar Technologies management give for FY27?
FY27 Revenue Target of ₹800-850 Crore: Management guided for FY27 revenue of ₹800 crore, with potential to reach ₹850 crore, supported by strong order book and demand recovery. EBITDA Margin Improvement to 29-31%: Management aims to restore EBITDA margins to historical 29-31% levels through price hikes and normalization of commodity costs. New Capacity Commissioning in April 2027: The 6,500 MVA expansion at GIDC is on track for commissioning in April 2027, with ₹120 crore capex funded internally. Volume Growth to ~7,000 MVA in FY27: Management targets dispatches of ~7,000 MVA in FY27, implying ~17% volume growth over FY26's 6,000 MVA.
What are the key risks for Shilchar Technologies in FY27?
Key risks include Raw Material Cost Pass-Through Uncertainty — Sharp increase in transformer oil (100%) and other commodities (10-25%) may not be fully passed on to customers, pressuring margins.; Middle East Logistics Disruptions — Geopolitical tensions in West Asia could again disrupt shipments, as seen in Q4 when ~₹35 crore of exports were delayed.; Capacity Utilization Constraints — Existing facility is near full capacity; any further growth depends on timely commissioning of new capacity and maintaining high utilization.; Bushing Supply Chain Lead Times — Long lead times for bushings (key component for 220 kV transformers) could delay production ramp-up at new facility..
Did Shilchar Technologies meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Shilchar Technologies Q4 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.