Equipment rental segment revenue
₹170 crore
+23% YoY
Segment A revenue grew to ₹170 crore in FY26 from ₹137.7 crore in FY25.
TARACHANDINFRALOGISTICSO
Infrastructure
2026-04-??
Tara Chand Infralogistic Solutions Ltd — Q4 FY26
Tara Chand Infralogistic delivered a solid FY26 with revenue of ₹284.8 crore (+14.9% YoY) and EBITDA of ₹105.5 crore (+27% YoY), driving EBITDA margin expansion of ~400bps to 37.05%.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
Tara Chand Infralogistic delivered a solid FY26 with revenue of ₹284.8 crore (+14.9% YoY) and EBITDA of ₹105.5 crore (+27% YoY), driving EBITDA margin expansion of ~400bps to 37.05%. The equipment rental segment (60% of revenue) grew 23% YoY with standalone rental margins at 62%, while renewable energy mix tripled to 15%. PAT growth lagged at 12% due to higher depreciation and finance costs from ₹290 crore capex over two years. Q4 revenue of ₹89.5 crore missed the ₹100 crore target due to ~₹10 crore project deferrals and slower Danuni stockyard ramp-up. FY27 guidance: 20-25% revenue growth, EBITDA margins sustained at 37-38%, and capex of ₹80-100 crore. Key risk: receivable days stretched to 93 (target 80) due to RINL contract closure, with recovery expected in H1 FY27.
Key Numbers
Standalone equipment rental EBITDA margin
62%
+700bps YoY
Margin improved from 55% in FY25 to 62% in FY26, best-in-class.
Renewable energy share in equipment rental mix
15%
+10pp YoY
Tripled from 5% in FY25, reflecting strong client relationships.
Order book executable in FY27
₹211.7 crore
N/A
64% from equipment hiring/projects, 37% from warehousing/transportation.
Management Guidance
FY27 revenue growth target of 20-25%
Management targets 20-25% revenue growth for FY27, driven by equipment rentals and specialized services.
Management guidance revenueEBITDA margin sustained at 37-38%
Management expects EBITDA margins to remain in the 37-38% band for FY27.
Management guidance marginsCapex of ₹80-100 crore in FY27
Planned capital expenditure for FY27 is in the range of ₹80-100 crore, calibrated to client demand.
Management guidance capexNet debt-to-equity below 1x
Management reiterated its ceiling of net debt-to-equity below 1x.
Management guidance otherKey Risks
Receivable days stretched to 93 days
Receivable days closed at 93 vs target of 80, partly due to RINL contract closure. Recovery expected in H1 FY27.
medium · management_commentaryProject execution delays causing revenue deferral
Q4 revenue missed target by ~₹10 crore due to project execution delays at client sites, deferred to Q1 FY27.
medium · management_commentaryMargin dilution from new metallics subsidiary
Analyst raised concern about potential margin dilution from Tarachand Metallics; management provided no concrete numbers.
medium · analyst_questionForeign currency fluctuation impacting equipment costs
Management cited forex volatility as a risk for new equipment purchases, though mitigated by annual purchase plans.
low · management_commentaryNotable Quotes
FY26 has been a year of disciplined growth for Tarachand. Building on the strong momentum of FY25 where we had grown 45% year-on-year, we have used this year to consolidate our scale, deepen our operational leverage and expand our profitability margins meaningfully.
The depreciation and finance cost burden you see today from the heavy capex of the last two years is the company's investment for what comes next.
We will maintain our disciplined focus on specialized service contracts in equipment rentals while consciously staying away from the run-of-the-mill EPC projects that do not meet our return thresholds.
Frequently Asked Questions
What was Tara Chand Infralogistic's revenue in Q4 FY26?
Tara Chand Infralogistic reported revenue of ₹90 Cr in Q4 FY26, representing a +14.9% change compared to the same quarter last year.
What guidance did Tara Chand Infralogistic management give for FY27?
FY27 revenue growth target of 20-25%: Management targets 20-25% revenue growth for FY27, driven by equipment rentals and specialized services. EBITDA margin sustained at 37-38%: Management expects EBITDA margins to remain in the 37-38% band for FY27. Capex of ₹80-100 crore in FY27: Planned capital expenditure for FY27 is in the range of ₹80-100 crore, calibrated to client demand. Net debt-to-equity below 1x: Management reiterated its ceiling of net debt-to-equity below 1x.
What are the key risks for Tara Chand Infralogistic in FY27?
Key risks include Receivable days stretched to 93 days — Receivable days closed at 93 vs target of 80, partly due to RINL contract closure. Recovery expected in H1 FY27.; Project execution delays causing revenue deferral — Q4 revenue missed target by ~₹10 crore due to project execution delays at client sites, deferred to Q1 FY27.; Margin dilution from new metallics subsidiary — Analyst raised concern about potential margin dilution from Tarachand Metallics; management provided no concrete numbers.; Foreign currency fluctuation impacting equipment costs — Management cited forex volatility as a risk for new equipment purchases, though mitigated by annual purchase plans..
Did Tara Chand Infralogistic meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Tara Chand Infralogistic 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 verified against official BSE/NSE filings.