Lords Mark Industries LtdDiversifiedLORDSMARK
Q1 FY27 concall · earnings callLords Mark Industries Ltd
Lords Mark Industries presented its renewable energy and MedTech businesses and guided to around 1550 crores of consolidated revenue in FY 27 with growth from diagnostics, dialysis and new product commercialization.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| FY 27 consolidated revenue guidance | 1550 crores | — | |
| FY 27 EBITDA margin guidance | 20.8% | — | |
| FY 27 PAT margin guidance | 12.8% | — | |
| Full-year consolidated revenue | 1290 crores | — | |
| Net debt to EBITDA | 1.2x | declined from 6.7x | |
| Renewable energy revenue | 600 crores | growing by around 65% | |
| Confirmed renewable order book | 2000 crore rupees | — |
TL;DR
- Business rests on renewable energy with revenue of 600 crores and MedTech with IVD, dialysis, genomics and devices.
- FY 27 consolidated revenue guidance of around 1550 crores with EBITDA of around 20.8% and PAT of around 12.8%.
- Confirmed renewable order book worth 2000 crore rupees with another 1000 crore expected through new contracts.
- Net debt to EBITDA declined from 6.7x to 1.2x in FY26 after listing through reverse merger.
- Near-term focus on sickle cell launch, 50 dialysis centers by March 27, cancer centers in Vapi and Solapur, and exports including a US order of close to a million dollars.
Said on the call
“But we manufacture them at a 40% lower cost, which opens a door of opportunity to compete with the global players across the globe.”
From the Q&A
| Topic | What management said |
|---|---|
| Receivables and cash flow | Management said 450 crores of receivables on a consolidated basis compares with full-year revenue of around 1290 crores and expects cash flows turning positive in this financial year, or max by second quarter of next financial year. |
| Sickle cell testing opportunity | Management cited screening of 16 crore individuals, allocation of around 3000 crores for elimination, and testing within 15 minutes with 99.6% accuracy versus HPLC testing costing 1200 to 2000 rupees. |
| Dialysis machine economics and orders | Management guided to around 49% gross margin and around 25% at EBITDA level for dialysis, a 7 years machine life with recurring consumables, confirmed order book of more than 500 machines and current capacity of 60 machines per month. |
| Minimum public shareholding | Management said Nuvama has been appointed as advisor and intends to bring promoter equity to 75% by diluting around 4%-5%, with 3% planned as OFS. |
| Capex and manufacturing | Management plans capex of around 300 to 350 crores over the next 3 years including a 2 acre IVD facility in Lucknow and expansion to 150 machines a month for dialysis. |
Guidance
- FY 27 consolidated revenue guidance of around 1550 crores
- FY 27 EBITDA of around 20.8% and PAT of around 12.8%
- FY 28 consolidated top line expected to cross around 2100 crores with EBITDA expected to be around 23-24%
- Segment FY 27 revenue of around 825 crores from IVD, MedTech and dialysis with balance from renewable energy
- Operate 50 dialysis centers by March 27 with 15 of them already operational
- Export revenue contribution to reach 10% of total revenue by June 27
Source
Summary written from the transcript filed by Lords Mark Industries Ltd for the call held on 10 Sept 2026; published 9 Oct 2026, 13:00 IST.
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