Susan Electricals India LtdPower & UtilitiesSUSAN
Q1 FY27 concall · earnings callSusan Electricals India Ltd
Strong revenue and profit growth driven by a strategic shift to higher-value HT and MVCC cables, with significant capacity expansion underway.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue | ₹95.36 Cr | 279% | |
| Operating Profit | ₹11.04 Cr | 980% | |
| Profit After Tax | ₹6.39 Cr | — | |
| Unutilized Order Book | ₹142.39 Cr | — | |
| Blended Operating Margin | ~11.9% | — |
TL;DR
- Revenue grew 279% YoY to INR 95.36 crore.
- Operating profit grew 980% YoY to INR 11.04 crore.
- PAT turned positive at INR 6.39 crore.
- Blended operating margin improved to ~11.9%.
- Unutilized order book stands at Rs 142.39 Cr as of June 30, 2026.
- Targeting to increase HT & MVCC revenue contribution to ~50% by year-end.
Said on the call
“Our primary focus is on increasing our presence in HT cables and MVCC cables.”
From the Q&A
| Topic | What management said |
|---|---|
| Segment-wise EBITDA Margins | Management shared Q1 FY27 EBITDA margins: LT cables and conductors ~6.5%, HT cables ~7%, and winding wires ~24.39%. |
| Expected Revenue Mix | Targeting HT & MVCC revenue contribution to rise from ~5-10% currently toward ~50% by year-end, with FY27 revenue mix expected to be balanced ~30-35% each across HT/MVCC, LT/conductors, and winding wires. |
| Margin Potential in HT/MVCC | HT and MVCC cables have the potential to generate approximately 20% net margins as volumes increase and business scales up. |
| FY27 Capex | Capex planned is approximately INR 15 crore to INR 20 crore, mainly for machinery and expansion, with the factory expansion expected to be commissioned in February. |
| FY27 Revenue Outlook | Management declined to provide an absolute revenue number but expects the growth momentum to continue, supported by strong demand in the power sector. |
Guidance
- HT & MVCC contribution targeted to rise from ~5-10% currently toward ~50% by year-end and higher thereafter.
- Expected FY27 revenue mix roughly balanced ~30-35% each across HT/MVCC, LT/conductors, and winding wires.
- Blended operating margin improved to ~11.9% in Q1; expected to maintain/improve with mix shift and operating leverage.
- Capacity expansion on track for commercial operations from Feb 2027.
- Unexecuted order book of Rs 142.39 Cr as of 30 June 2026 expected to execute over next ~3 months.
Source
Summary written from the transcript filed by Susan Electricals India Ltd for the call held on 22 Aug 2026; published 22 Aug 2026, 16:26 IST.
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