| Revenue growth | FY26 growth was 7% (₹160cr); missed internal aggressive targets. |
|---|---|
| Margins | EBITDA margin guidance 9-11% band for FY27; gross margins stable at ~49%. |
| Demand visibility | Strong traction with construction equipment segment (53% of revenue) and Caterpillar. |
| Management confidence | Candid admission of execution failure; confident in Malur plant's current readiness. |
Growth
FY26 Revenue ₹160cr (+7% YoY); PAT ₹3.67cr (-55% YoY); EBITDA margin compressed from 9.1% to 8.7%.
Outlook
Malur plant target ₹60cr revenue for FY27 and ₹100cr by FY29. Guidance of 20% total revenue CAGR through FY29.
Risks
Execution failures in machinery commissioning; human capital skill gaps; rising Karnataka minimum wages; geopolitical and raw material volatility.
Last quarter's promises, checked
Delivered
- Guided 10% growth for FY26 → delivered 7% (= PARTIAL)
- Guided Q4 FY26 paint shop operational → delivered June '26 (= BEAT)
- Guided 49% gross margins → delivered 49% (= BEAT)
Partly delivered
- Guided ₹100cr Malur potential → delivered ₹60cr FY27 target (= PARTIAL)
Missed
- Guided margin recovery in Q4 FY26 → delivered 55% PAT drop (= MISS)
- Guided Bangalore break-even at ₹5cr/month → delivered missed targets (= MISS)
Earnings Call filed with BSE, NSE: RISHILASE. Summary written with AI assistance from the document.
Rishi Laser Ltd: key numbers
- Share price
- ₹147.90
- Market cap
- ₹136.0 Cr
- Revenue (annual)
- ₹161.0 Cr
- Net profit (annual)
- ₹3.67 Cr
- P/E (TTM)
- 56.7×Sector 53.9×
- Promoter holding
- 16.12%-0.04% QoQ
- FII holding
- 0.00%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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