Atlanta Electricals Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Atlanta Electricals Ltd filed with BSE on 25 Jul 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Atlanta Electricals reported Q1 FY27 consolidated revenue of Rs 466.33 crore, up 48% year-on-year, with EBITDA margin expanding to 16.5% from 15.5% a year earlier. Management attributed the growth primarily to volume from newly commissioned manufacturing facilities rather than pricing or product mix changes, and reported a record quarterly order inflow of Rs 972.42 crore, taking the outstanding order book to Rs 3,116.63 crore as of 30 June 2026. Management also discussed progress on 400 kV and 765 kV transformer capabilities, capacity expansion projects, and export market development.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Revenue: INR466.33 crores (Q1 FY27)
p. 3
“consolidated revenue from operations grew by 48% year-on-year to INR466.33 crores compared with INR315.11 crores in Q1 FY26”
Mehul Mehta, page 3 of the filed PDF · View the filing
Gross profit: INR127.20 crores (Q1 FY27)
p. 3
“gross profit increased by 55.5% year-on-year to INR127.20 crores”
Mehul Mehta, page 3 of the filed PDF · View the filing
Gross margin: 27.3% (Q1 FY27)
p. 3
“gross margin improved by 130 basis points to 27.3% from 26% in the corresponding quarter last year”
Mehul Mehta, page 3 of the filed PDF · View the filing
EBITDA: INR77.10 crores (Q1 FY27)
p. 3
“EBITDA for the quarter stood at INR77.10 crores, representing a 58.1% year-on-year increase”
Mehul Mehta, page 3 of the filed PDF · View the filing
EBITDA margin: 16.5% (Q1 FY27)
p. 3
“EBITDA margin expanding to 16.5% compared with 15.5% in Q1 FY26”
Mehul Mehta, page 3 of the filed PDF · View the filing
Profit after tax: INR46.84 crores (Q1 FY27)
p. 4
“Profit after tax grew 50.4% year-on-year to INR46.84 crores, while PAT margin improved to 10%”
Mehul Mehta, page 4 of the filed PDF · View the filing
Earnings per share: 6.09 per share (Q1 FY27)
p. 4
“Earnings per share increased by 40% year-on-year to 6.09 per share”
Mehul Mehta, page 4 of the filed PDF · View the filing
Order inflow: INR972.42 crores (Q1 FY27)
p. 5
“The company recorded its highest-ever quarterly order inflow of INR972.42 crores”
Anand Sharma, page 5 of the filed PDF · View the filing
Order book: INR3,116.63 crores (as on 30th June 2026)
p. 5
“This strong order booking increased our outstanding order book to INR3,116.63 crores, which is 3,116 crores as on 30th June 2026”
Anand Sharma, page 5 of the filed PDF · View the filing
Net working capital days: 72 days (Q1 FY27)
p. 4
“net working capital stood at 72 days, with inventory days at 105, receivable days at 88, and payable days at 110”
Mehul Mehta, page 4 of the filed PDF · View the filing
Sales-based capacity utilization: 4,381 MVA (Q1 FY27)
p. 4
“we recorded sales-based capacity utilization of 4,381 MVA during the quarter”
Mehul Mehta, page 4 of the filed PDF · View the filing
Vadod facility production: 1,520 MVA (Q1 FY27)
p. 10
“total MVA sales-based capacity utilization for the quarter is 4,381 MVA. Out of this, 1,520 MVA was produced from Vadod facility and 320 MVA was produced from Jambusar, that is Ankhi facility”
Mehul Mehta, page 10 of the filed PDF · View the filing
Q1 FY26 volume: 3,605 MVA (Q1 FY26)
p. 12
“last year, Q1 FY26 that was 3,605 MVA”
Mehul Mehta, page 12 of the filed PDF · View the filing
Q4 FY26 production: 13,000 MVA (Q4 FY26)
p. 16
“Last quarter, I think we were able to achieve 13,000 MVA, yes, Q4. It was 13,000 MVA production”
Mehul Mehta, page 16 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue growth CAGR — 40% CAGR · 3 years
stated firmly by Niral Patel
p. 11
“we have been maintaining 40% CAGR for coming 3 years and with stable margins”
Niral Patel, page 11 of the filed PDF · View the filing
Revenue growth (FY27) — 40% year-on-year growth · FY27
stated firmly by Mehul Mehta
p. 19
“we maintain that 40% CAGR growth year-on-year in the revenue terms. So last year was INR1,851, and we can put a 40% year-on-year growth on that number for this year”
Mehul Mehta, page 19 of the filed PDF · View the filing
EBITDA margin — 17 to 18%
stated conditionally by Mehul Mehta
p. 16
“we expect the margin somewhere around 17 to 18% as we always convey to our investors”
Mehul Mehta, page 16 of the filed PDF · View the filing
Order book execution — INR2,400 crores · current financial year
stated firmly by Niral Patel
p. 11
“out of which we anticipate close to about INR2,400 crores which is falling due for execution in this financial year”
Niral Patel, page 11 of the filed PDF · View the filing
Inverter duty transformer facility commissioning — before end of current calendar year
stated firmly by Anand Sharma
p. 6
“we remain on track to commission the facility before the end of current calendar year”
Anand Sharma, page 6 of the filed PDF · View the filing
Export revenue contribution — approximately 15% of revenue · medium term
stated as an aspiration by Niral Patel
p. 7
“Over the medium term, we aspire for exports to contribute approximately 15% of our revenue”
Niral Patel, page 7 of the filed PDF · View the filing
Export revenue contribution — 15% of the revenue · next three years
stated firmly by Anand Sharma
p. 19
“we are targeting to have 15% of the revenue coming in from the export market in next three years' time”
Anand Sharma, page 19 of the filed PDF · View the filing
400 kV transformer commercial contribution — next financial year
stated firmly by Anand Sharma
p. 6
“we expect meaningful commercial contribution from 400 kV transformers portfolio to commence from next financial year”
Anand Sharma, page 6 of the filed PDF · View the filing
Unit 6 IDT facility commissioning — by December end
stated firmly by Niral Patel
p. 13
“By end of third quarter this financial year, so by December end is when our targets are to commission the inverter duty transformer facility”
Niral Patel, page 13 of the filed PDF · View the filing
765 kV technical tie-up closure — Q2 FY27
stated firmly by Niral Patel
p. 16
“The tech tie-up our targets are to close in this Q2, and Q3 is when what we will utilize for raw material injection and production”
Niral Patel, page 16 of the filed PDF · View the filing
765 kV order bidding — last quarter of this financial year
stated conditionally by Niral Patel
p. 15
“We expect those doors to open by end of this financial year or say in the last quarter of this financial year”
Niral Patel, page 15 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said order inflow was the highest in over two years and they see no impact on pricing or order inflow.
Answered by Niral Patel
Asked by Mihir Manohar: Will incremental capacity additions across the industry cause margin moderation on new order inflow?
p. 8
“we have witnessed the highest possible order inflow in quarter one in the first quarter in at least the last two to two and a half years”
Niral Patel, page 8 of the filed PDF · View the filing
56% from 220 kV, 25% from 66 kV, and roughly 5.5% from 132 kV.
Answered by Mehul Mehta
Asked by Kunal Mehta: What was the revenue mix by voltage class in Q1?
p. 9
“we have 56% of the revenue coming from 220 kV class, and then the 25% is coming from 66 kV class and roughly around 5.5% from 132 kV class”
Mehul Mehta, page 9 of the filed PDF · View the filing
Order booking typically peaks in Q2 through mid-Q3.
Answered by Anand Sharma
Asked by Kunal Mehta: Is order inflow seasonally concentrated in certain quarters?
p. 10
“we have seen that typically quarter two and till mid of quarter three is the period where the order booking peaks out, actually”
Anand Sharma, page 10 of the filed PDF · View the filing
Management said the one eligible Chinese manufacturer has not yet participated in PSU tenders and is unlikely to pursue lower-margin orders given existing private-sector demand.
Answered by Anand Sharma
Asked by Mayank Chaturvedi: Are Chinese manufacturers now allowed into PSU tenders taking pricing action?
p. 13
“we possibly do not see why would they be, let’s say, going to fill more orders from the Indian PSUs with lower margin”
Anand Sharma, page 13 of the filed PDF · View the filing
No short-term pressure on CRGO prices or supply expected; long-term outcome uncertain pending the inquiry report.
Answered by Anand Sharma
Asked by Pratham Modi: What is the likely impact of the DGTR anti-dumping investigation into CRGO steel imports?
p. 15
“In short term, we are not seeing any pressure on the CRGO prices or the supply because of this inquiry initiation”
Anand Sharma, page 15 of the filed PDF · View the filing
Around Rs 2,400 crore of the order book is expected to be executed this financial year, and margins are expected to sustain around 17-18%.
Answered by Mehul Mehta
Asked by Jigar Jani: What is guidance on order book execution and sustainability of margins?
p. 16
“out of the unexecuted order book of INR3,100 crores, we expect around INR2,400 crores of orders are executable in current financial year”
Mehul Mehta, page 16 of the filed PDF · View the filing
A combination of a one-time fee and a royalty for three to four years, applicable only to 765 kV products.
Answered by Niral Patel
Asked by Kunal Mehta: What are the commercial terms of the 765 kV technology tie-up?
p. 17
“The one-time fee ranges anywhere between USD3 to 5 million. The royalty front ranges anywhere between 4 to 2% is what the discussions are at this stage”
Niral Patel, page 17 of the filed PDF · View the filing
Management said exports are meant to mitigate future overcapacity risk and are expected to carry better margins.
Answered by Anand Sharma
Asked by Anuj Shah: How will a higher export mix affect margins, working capital and return ratios?
p. 19
“we are expecting better margins to come from the export market which will help us to maintain the margin profile we have been assuring, committing to the market till date”
Anand Sharma, page 19 of the filed PDF · View the filing
Risks flagged
Rising raw material prices due to geopolitical environment
p. 4
“raw material prices continue to witness upward pressure due to the prevailing geopolitical environment. We expect this trend to persist over the coming quarters”
Mehul Mehta, page 4 of the filed PDF · View the filing
Supply deficit across transformer voltage ranges including IDT
p. 10
“Supply deficit is there across all ranges according to us, including IDT”
Anand Sharma, page 10 of the filed PDF · View the filing
Uncertainty over outcome of CRGO steel anti-dumping investigation
p. 15
“it would not be fair on our part to speculate as to what would be the recommendation and the outcome of this particular inquiry which has been initiated recently”
Anand Sharma, page 15 of the filed PDF · View the filing
Potential future industry overcapacity
p. 19
“we are trying to enter into export market just to mitigate the risk of the overcapacity situation which might come few years later”
Anand Sharma, page 19 of the filed PDF · View the filing
Delay risk in large PSU/private order conversions despite being L1
p. 11
“there are situations where Atlanta would be L1 and eventual order conversions may take time”
Niral Patel, page 11 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.