Sector concallsCapital Goods & Engineering
- Aaron Industries Limited
- Aartech Solonics Limited
- Aarvi Encon Limited
- Astra Microwave Products Limited
- AXISCADES Technologies Limited
- Centum Electronics Ltd
- Cochin Shipyard Limited
- Diffusion Engineers Limited
- Elgi Equipments Limited
- Finolex Cables Limited
- GE Vernova T&D India Limited
- Harsha Engineers International Limited
- HPL Electric & Power Limited
- Hy-Tech Engineers Limited
- Ideaforge Technology Limited
- IFGL Refractories Limited
- IKIO Technologies Limited
- Indo Farm Equipment Limited
- ION Exchange (India) Limited
- Isgec Heavy Engineering Limited
- Jash Engineering Limited
- Jinkushal Industries Limited
- JNK India Limited
- John Cockerill India Ltd-$
- Jyoti CNC Automation Limited
- Kanohar Electricals Limited
- Karamtara Engineering Limited
- KSH International Limited
- MM Forgings Limited
- MV Electrosystems Limited
- Oriental Rail Infrastructure Ltd
- Oswal Pumps Limited
- Pitti Engineering Limited
- Premier Explosives Limited
- Prostarm Info Systems Limited
- Raymond Limited
- RHI MAGNESITA INDIA LIMITED
- RIR Power Electronics Limited
- Rishabh Instruments Limited
- Sansera Engineering Limited
- Schneider Electric Infrastructure Limited
- Shilchar Technologies Limited
- Simplex Castings Ltd
- SKF India (Industrial) Limited
- Synergy Green Industries Limited
- TD Power Systems Limited
- Tempsens Instruments (India) Limited
- TIL Limited
- Triveni Turbine Limited
Maiden Q1 FY27 call reported 103.5% revenue growth to INR137.1 crore on a 400 kV-led mix, with a INR2,026 crore order book and FY27 revenue targeted at approximately INR950 crores at FY26-like margins.
- Revenue from operations
- ₹137.1 Cr+103.5% YoY
- Gross profit
- ₹57.5 Cr+97.4% YoY
Karamtara reported Q1 FY27 revenue of INR1,581 crores, up 72% year-on-year, with EBITDA of INR174 crores and PAT of INR87 crores, while guiding to 60% to 65% full-year revenue growth.
- Revenue from operations
- ₹1,581 Cr+72% YoY basis
- EBITDA
- ₹174 Cr+45% growth on YoY basis
Hy-Tech Engineers reported Q1 FY27 revenue of INR430 million, up 13% year-on-year, with margins lower pending OEM price revisions while outlining capacity expansion and export growth plans.
- Revenue from operations
- ₹43 Cr+13% Y-o-Y increase compared to the ₹38 Cr in Q1 FY26
- EBITDA
- ₹8.4 Crcompared to the ₹8.2 Cr in the corresponding quarter of the last year
Q1 FY27 revenue grew by one-third to INR118 crores on strong temperature sensing, more than doubling electrical heating and 78.3% export growth, while profit grew about 16% as upfront employee investments compressed margins.
- Revenue from operations
- ₹118 Crup by 33% from ₹89 Cr a year ago
- EBITDA
- ₹26.6 Crup by 15.7%
Q1 FY27 saw modest turnover growth to INR 1,094.21 crores with lower PBT and PAT, while management focused on vessel deliveries, an order book of around INR 22,000 crores, and new repair and fabrication expansion including a Drydocks World joint venture.
- Turnover
- ₹1,094.21 Crcompared with ₹1,068.59 Cr in the corresponding period last year
- PBT
- ₹202.49 Crcompared to ₹249.54 Cr last year
MV Electrosystems is scaling up manufacturing of its indigenously developed rail propulsion systems following its IPO, targeting 40 systems per month by January 2027 and eyeing new programs in EMU, MEMU, and Vande Bharat trains.
- Order Book
- INR 1,000 plus crores
- Propulsion Systems Order Quantity
- 564
Revenue growth driven by a sharp shift to Africa was offset by higher logistics and employee costs, pressuring margins amid strategic investments for long-term scaling.
- Standalone Revenue
- ₹51.29 Cr37.4%
- Consolidated Revenue
- ₹56.57 Cr15.9%
Strong volume-driven revenue growth across geographies, driven by superior product technology and efficiency, with management confident of sustaining and improving margins despite raw material cost pressures.
- Revenue Growth (YoY)
- 23%
- EBITDA Growth (YoY)
- 28%
AXISCADES reported a record quarterly revenue of Rs 346 Cr while booking a net loss due to one-off costs from its strategic pivot to a manufacturing-focused company in aerospace, defense, electronics, and space.
- Consolidated Revenue
- ₹346 Cr42% YoY
- Continuing Operations Revenue
- ₹183 Cr94% YoY
Simplex Castings started FY27 strongly, reporting significant revenue and profit growth, a substantial order book increase, and clear plans to diversify into railways and improve working capital efficiency.
- Revenue
- ₹60.95 Cr~35%
- EBITDA
- ₹11.52 Cr~25%
The quarter saw strong revenue and profit growth driven by better capacity utilization in the wagon business, with management expressing confidence in continued growth from increased production, new technologies, and a large order book.
- Revenue from Operations
- ₹137.6 Cr16.7%
- EBITDA
- ₹20.9 Cr43.7%
Jash Engineering posted improved revenue and returned to profitability, but growth was constrained by shipping and payment issues in key export markets.
- Revenue
- ₹156 Cr17%
- PAT
- ₹5 Cr
Revenue grew 16% on strong domestic and U.S. CV demand, with a strategic push into high-value machining now comprising 67% of sales.
- Total Net Sales
- ₹427 Cr16%
- EBITDA
- ₹82 Cr16%
Aaron Industries reported strong Q1 growth driven by its elevator and stainless-steel sheet businesses, with management focusing on capacity utilisation and cautiously optimistic on international OEM and new EVOQ360 product opportunities.
- Revenue from Operations
- ₹24.44 Cr27.01% YOY
- EBITDA
- ₹4.99 Cr34.83% YOY
The quarter was driven by strong 34% growth in the core Electrical and Electronics Instrumentation (EEI) segment, operational profitability in the solar inverter business, and progress on international expansion.
- Consolidated Revenue
- ₹198.3 Cr4.2%
- Consolidated EBITDA
- ₹33.3 Cr17.3%
The company reported a record order intake and strong backlog but faced near-term margin pressure from commodity inflation, operating leverage, and execution of legacy fixed-price contracts.
- Order Intake
- ₹915 Cr0.5%
- Sales Growth (YoY)
- 5%
A challenging quarter with soft margins due to low-margin project execution and order mix, offset by strong export and aftermarket order booking pointing to a back-ended recovery.
- Revenue from Operations
- ₹443 Cr19.2%
- EBITDA
- ₹79.7 Cr
The company faced a challenging quarter with profitability significantly impacted by legacy projects, high input costs, and geopolitical issues, despite 20% revenue growth.
- Operating Income
- ₹701 Cr20% YoY
- EBITDA
- ₹32 Cr-49% YoY
HPL Electric delivered strong Q1 revenue growth driven by the scaling of both its Consumer & Industrial platform and its smart metering order book, despite margin pressure from input cost volatility.
- Revenue
- 515 crores35%
- EBITDA
- 63 crores9%
Revenue declined sharply due to supply chain and export license delays, but a large defense order book provides visibility, and management expects a stronger recovery in subsequent quarters.
- Revenue
- ₹102.6 Cr-28% YoY
- EBIT
- ₹4.8 Cr-80% YoY
TIL delivered strong year-on-year growth in Q1 FY27, driven by execution of existing orders and the strategic acquisition of Tulip Compression, marking a visible step in its transformation journey.
- Consolidated Revenue
- ₹117.1 Cr86% over Q1FY26
- Consolidated EBITDA
- ₹7.3 Cr
SKF India Industrial recorded solid revenue growth and is executing its strategy of localization, innovation, and significant capacity investment to capitalize on India's industrial tailwinds.
- Revenue from operations
- ₹970.8 Cr18.3%
- PBT Margin
- 9.5%
Q1 revenue and margins were impacted by delayed export dispatches and slower pass-through of raw material costs due to the West Asia crisis, but management maintains annual guidance and expects improved momentum in Q2.
- Revenue from Operations
- ₹134.6 Cr
- EBITDA
- ₹29.23 Cr
The quarter was marked by a muted start due to project phasing, but strong order book growth and the exit from overseas subsidiaries sharpen focus on core high-reliability electronics in India.
- Stand-alone Revenue
- ₹205 Cr11%
- Stand-alone Order Book
- ₹1,800 Cr31%
The company delivered strong revenue growth and profitability in FY26, driven by expanding domestic and international operations, while outlining future growth targets and margin improvement strategies.
- Revenue from Operations (FY26)
- ₹649.85 Cr27%
- EBITDA (FY26)
- ₹24.93 Cr
The company delivered record first-quarter revenue growth driven by strong order execution and anticipates healthy performance in the upcoming quarters.
- Total Revenue from Operations
- 728 lakhs295 lakhs
- Profit Before Tax
- 119 lakhs46 lakhs
RIR Power delivered strong Q1 revenue growth of 29.3% and an 80.6% profit impact, while nearing the start of epitaxy wafer production at its new Odisha facility.
- Revenue
- ₹27.16 Cr29.3%
- EBITDA
- ₹3.98 Cr80.6%
Strong order book growth and strategic consolidation set the stage for future revenue, but near-term profitability is pressured by project timing and integration costs.
- Standalone Revenue Q2 CY26
- ₹149 Cr82%
- Consolidated Revenue Q2 CY26
- ₹299 Cr18%
Sansera achieved its highest-ever quarterly revenue of over INR 10,000 million, driven by strong growth across all segments, particularly a near 130% increase in non-auto sales and a significant expansion of its aerospace & defense (ADS) order book.
- Revenue
- ₹1,021.3 Cr33%
- EBITDA Margin
- 19.2%200 bps
Synergy Green Industries posted lower Q1 revenue and margins due to shipment delays, prototype approvals, and input cost inflation, but expects normalization and growth for the full year driven by new capacity and in-house machining.
- Total Income (Q1 FY27)
- ₹75.71 Cr
- PBDIT Margin (Q1 FY27)
- 7%
The company delivered 38% YoY revenue growth in Q1 and maintains a strong order book, but is navigating market headwinds in the utility BESS segment by shifting focus to the commercial and industrial (C&I) space.
- Revenue from Operations
- ₹76 Cr+38% YoY growth
- EBITDA
- ₹7 Cr
Finolex Cables reported strong revenue and profit growth driven by robust demand in communication cables, particularly for data centers and exports, alongside solid performance in key electrical cable segments.
- Revenue
- ₹2,013 Cr44%
- Profit Before Tax
- ₹277 Cr62%
Diffusion Engineers delivered strong revenue growth driven by a large and diversified order book, and is ramping up new capacity to execute larger projects while expanding into new markets.
- Consolidated Revenue
- ₹110.11 Cr36.5%
- Consolidated EBITDA
- ₹14.15 Cr33.76%
The company posted 15% revenue growth led by a 36% jump in tractor sales, with crane sales flat due to emission norm transitions and capacity constraints, while gearing up for new production lines and dealer expansion.
- Revenue from operations
- ₹104.93 Cr14.98%
- EBITDA
- ₹13.09 Cr10.84%
Revenue grew 80.6% year-on-year on the back of a strong project order book, with management maintaining full-year revenue and margin guidance while strategically diversifying into adjacent technology-led EPC segments.
- Order Book
- ₹1,801 Cr
- Consolidated Revenue
- ₹186 Cr80.6%
Strong quarterly results and order inflows driven by buoyant market conditions across all segments, with management planning capacity expansions to meet sustained demand.
- Standalone Total Income
- ₹630 Cr74%
- Standalone EBITDA Margin
- 19.34%
The company delivered strong revenue growth and a significant improvement in profitability driven by steel business performance and favorable realizations.
- Revenue from Operations
- ₹1,014 Cr6% YoY
- EBITDA
- ₹147 Cr42% YoY
Strong revenue growth driven by manufacturing dispatch and project execution, though consolidated profits are dampened by startup losses in the Philippines ethanol plant.
- Standalone Total Income
- ₹1,585 Cr51%
- Standalone PBT
- ₹123 Cr10%
Harsha delivered 25% YoY revenue growth driven by strong demand for cages, bushings, and stampings, despite margin pressure from raw material cost inflation and foreign exchange losses.
- Consolidated Revenue Growth (YoY)
- 25%
- India Engineering Business Revenue Growth (YoY)
- 21%
The company started the year with steady execution, converting over 20% of its opening order book, and is positioned for growth with significant progress on key developmental programs like combat drones and YETI, a strengthened financial base, and a structurally improving demand environment.
- Revenue
- ₹68.6 Cr
- Gross Profit
- ₹33.6 Cr
Pitti Engineering posted strong volume growth and revised its annual volume target upward, driven by broad-based demand from data centers, mining, and railways, while executing significant capacity expansions.
- Revenue from Operations
- ₹529 Cr16%
- Adjusted EBITDA
- ₹89 Cr14%
The company delivered strong Q1 results with significant revenue growth and record EBITDA per ton, driven by robust demand for specialized wires and exports, while remaining on track with its capacity expansion.
- Revenue
- ₹1,164 Cr108%
- EBITDA
- ₹74.4 Cr
The quarter featured robust 41% revenue growth and a 94% jump in EBITDA driven by diversification and scale, but profitability was squeezed sequentially by war-induced supply chain disruptions and raw material inflation.
- Revenue
- ₹169 Cr41% YoY
- EBITDA
- ₹22 Cr94% YoY
IFGL delivered revenue growth led by overseas operations but faced margin pressure from higher raw material and fuel costs, which are being addressed through price increases.
- Consolidated Total Income
- ₹515 Cr+13% YoY growth
- Consolidated EBITDA
- ₹40 Cr+2% YoY increase
Astra Microwave reported moderate Q1 revenue but secured a landmark INR 2,205 crore order for the Uttam Radar, doubling its order book and providing multi-year growth visibility.
- Revenue
- ₹182 Cr
- New Orders Booked (Q1)
- ₹185 Cr
The company started FY27 with a decline in revenue and margins due to industry-wide competitive bidding, geopolitical input costs, and diversification efforts, but maintains its full-year growth guidance on the back of an expanding solar EPC pipeline.
- Revenue from Operations
- ₹474 Cr-7.9%
- Operating EBITDA Margin
- 15.7%-747 bps
The quarter was defined by strong revenue and EBITDA growth led by aerospace, robust order books, and the strategic expansion of capabilities and geographies, all supported by a net cash balance sheet.
- Total Income
- ₹628 Cr13%
- EBITDA
- ₹100 Cr14%
The company reported strong standalone performance with robust revenue growth and improved margins, but consolidated results were impacted by an accounting change at its Huron subsidiary, which delayed revenue recognition.
- Standalone Revenue
- ₹509 Cr37%
- Standalone Adj. EBITDA Margin
- 28.4%190 bps
Strong revenue execution and cash generation were offset by a significant drop in order intake and moderated gross margins.
- Order Intake
- ₹1,140 Cr-30% YoY
- Revenue
- ₹1,840 Cr+38% YoY