India · Delayed Price · Currency is INR RITES Earnings Call Transcripts
Fiscal Year 2027
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Q1 FY 2027 saw 19% YoY revenue growth and stable margins, with a robust INR 9,450 crore order book and strong export prospects. Execution of large export orders and competitive bidding are shaping margins, while dividend payouts remain high and new international opportunities are being pursued.
Fiscal Year 2026
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Double-digit revenue and profit growth achieved, with a record order book and strong export momentum. Margins are expected to decline as competitive orders increase, but revenue is set to reach new highs while profits will grow more gradually.
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Q3 saw robust sequential growth in revenue and margins, with a record order book and strong order inflow. Export and turnkey segments are set to drive double-digit growth, while FY 2027 is projected as a year of disruptive expansion.
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Order book hit a record INR 9,090 crore, with strong growth in Consultancy and Export segments offsetting a temporary dip in Turnkey revenue. Margins remained robust, and double-digit top-line growth is targeted as Turnkey execution ramps up in coming quarters.
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Q1 FY26 was flat, but a robust order book and strong consultancy growth support a positive outlook. Execution of large orders is set to drive revenue in the latter part of the year, with high-margin segments targeted to contribute over 60% of the mix.
Fiscal Year 2025
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Order book reached an all-time high of INR 8,900 crores, with strong consultancy growth and export revenues set to rebound in FY 2026. Margins are expected to normalize at 20% EBITDA and 15-16% PAT, while the company maintains a high dividend payout and minimal CapEx.
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Q3 saw sequential improvement in revenue and margins, despite a year-over-year decline. Record order inflows and a robust order book support a targeted 20% top line growth for FY25, with margins expected to stabilize. Export margins are lower due to competitive bidding.
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Q2 FY25 saw execution challenges and margin compression, but strong order inflows and diversification efforts are driving recovery. Export revenue is set to ramp up in FY26, with double-digit growth expected as new orders are executed and QA business rebounds.
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Q1 FY25 was impacted by a sharp drop in high-margin export and inspection revenues, but the order book grew 11% sequentially with strong new order inflows. Margins are expected to stabilize at lower levels, with sequential improvement in revenue and profitability anticipated as new orders are executed.