Fabtech Technologies Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Fabtech Technologies Ltd filed with BSE on 30 Apr 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
Fabtech Technologies reported FY26 total income growth of 28.4% year on year to Rs 431.33 crore and EBITDA growth of 18.29% to Rs 55.56 crore, alongside a Rs 230 crore equity infusion that raised cash and bank balance to Rs 208.57 crore. Q4 FY26 total income rose 22% year on year to Rs 168.24 crore with net profit of Rs 22.06 crore, while management said margins were affected by higher raw material and execution costs tied to geopolitical disruptions. Management said the order book stood at more than Rs 900 crore as of March 2026 and outlined plans for continued geographic expansion and localization in the Middle East and Africa.
Numbers mentioned
Total income: ₹ 431.33 crore (FY26)
p. 3
“our total income grew by 28.4% year on year to ₹ 431.33 crore, while EBITDA increased by 18.29% to ₹ 55.56 crores”
Ashwani Singh, page 3 of the filed PDF · View the filing
EBITDA: ₹ 55.56 crores (FY26)
p. 3
“our total income grew by 28.4% year on year to ₹ 431.33 crore, while EBITDA increased by 18.29% to ₹ 55.56 crores”
Ashwani Singh, page 3 of the filed PDF · View the filing
Total equity: ₹ 419.77 crore (FY26)
p. 3
“Our total equity expanded to ₹ 419.77 crore while cash and bank balance rose sharply to ₹ 208.57 crore, making this the strongest financial position in Fabtech history.”
Ashwani Singh, page 3 of the filed PDF · View the filing
Cash and bank balance: ₹ 208.57 crore (FY26)
p. 3
“Our total equity expanded to ₹ 419.77 crore while cash and bank balance rose sharply to ₹ 208.57 crore, making this the strongest financial position in Fabtech history.”
Ashwani Singh, page 3 of the filed PDF · View the filing
Net profit: 38.36 crore (FY26)
p. 4
“total net profit is 38.36 crore compared to the 46.45 crore last year”
Ashwani Singh, page 4 of the filed PDF · View the filing
Q4 total income: ₹ 168.24 crore (Q4 FY26)
p. 4
“Q4 FY26 was particularly strong, with total income raising 22% year on year to ₹ 168.24 crore, and the quarterly net profit rebounding to 22.06 crore.”
Ashwani Singh, page 4 of the filed PDF · View the filing
Q4 net profit: 22.06 crore (Q4 FY26)
p. 4
“Q4 FY26 was particularly strong, with total income raising 22% year on year to ₹ 168.24 crore, and the quarterly net profit rebounding to 22.06 crore.”
Ashwani Singh, page 4 of the filed PDF · View the filing
Receivables: ₹ 204.34 crore (FY26)
p. 4
“The receivables have risen to ₹ 204.34 crore.”
Ashwani Singh, page 4 of the filed PDF · View the filing
Order book: more than 900 crores (as of March 2026)
p. 6
“Our order book as in March stands more than 900 crores, you know, including our Dubai operations”
Karan Doshi, page 6 of the filed PDF · View the filing
EBITDA (comparison): 55.56 crores (FY26 vs FY25)
p. 7
“Our EBITDA has increased from 46.97 crores to 55.56 crores, a jump of around 18.29%.”
Karan Doshi, page 7 of the filed PDF · View the filing
Operational PAT: 36.6 crores (FY26)
p. 7
“Our operational PAT has increased from 31.27 crores to 36.6 crores. which is an increase of 17.4%.”
Karan Doshi, page 7 of the filed PDF · View the filing
Cash and bank balance (comparison): 208 crores (FY26 vs FY25)
p. 7
“Our cash and bank balance has increased from 35 crores to 208 crores, which is a 5x jump in our position.”
Karan Doshi, page 7 of the filed PDF · View the filing
UAE revenue: 126 crores (FY26)
p. 8
“UAE became the largest market, has shown the largest growth of contributing to around 126 crores, followed by Saudi, which is around 82.7 crores.”
Karan Doshi, page 8 of the filed PDF · View the filing
Kenya revenue growth: 43.24 crores (FY26)
p. 8
“Kenya revenue grew by 43.24 crores.”
Karan Doshi, page 8 of the filed PDF · View the filing
Debt reduction: from 54 crores to 42 crores (FY26)
p. 8
“We've reduced our debt from 54 crores to 42 crores. Current borrowing is from 54 crores to 42 crores.”
Karan Doshi, page 8 of the filed PDF · View the filing
Contribution margin: 43.8% (FY26)
p. 8
“if we see at a non-contribution margins, they are at 43.8, they are still healthy compared to previous year, which was around 45.9%.”
Karan Doshi, page 8 of the filed PDF · View the filing
Other income: 21 crores (FY26)
p. 18
“basically, other income, the major component of 20 crores is around 12 crores of foreign income.”
Karan Doshi, page 18 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 — approximately 25% growth · FY27
stated as an aspiration by Ashwani Singh
p. 4
“Based on current momentum, we are projecting approximately 25% growth ahead, alongside an improvement in PAT margin towards 9.9% to 10.5% range.”
Ashwani Singh, page 4 of the filed PDF · View the filing
PAT margin — 9.9% to 10.5% range · FY27
stated as an aspiration by Ashwani Singh
p. 4
“Based on current momentum, we are projecting approximately 25% growth ahead, alongside an improvement in PAT margin towards 9.9% to 10.5% range.”
Ashwani Singh, page 4 of the filed PDF · View the filing
Order book growth — around 25 to 30%
stated as an aspiration by Karan Doshi
p. 9
“We expect to grow with around 25 to 30%, as mentioned by the CEO.”
Karan Doshi, page 9 of the filed PDF · View the filing
Order book execution — 900 crores · next 18 to 24 months
stated firmly by Karan Doshi
p. 12
“So, as we said, that 900 crores are the current pipeline, which we will intend, which we will deliver in next 18 to 24 months.”
Karan Doshi, page 12 of the filed PDF · View the filing
Contribution margin target — around 45%
stated as an aspiration by Karan Doshi
p. 21
“At operating level, we continue to, you know, operating as in contribution margins, we will ideally do around 45%, and at EBITDA level, our target is to do around 13 to 14%, and PAT level will be between 9 to 11% is what our internal targets are.”
Karan Doshi, page 21 of the filed PDF · View the filing
EBITDA margin target — around 13 to 14%
stated as an aspiration by Karan Doshi
p. 21
“At operating level, we continue to, you know, operating as in contribution margins, we will ideally do around 45%, and at EBITDA level, our target is to do around 13 to 14%, and PAT level will be between 9 to 11% is what our internal targets are.”
Karan Doshi, page 21 of the filed PDF · View the filing
PAT margin target (FY28) — 12-14% · FY28
stated as an aspiration by Aman Anavkar
p. 20
“We're on track, I would say.”
Aman Anavkar, page 20 of the filed PDF · View the filing
Full-year growth guidance — close to 25% or more growth
stated as an aspiration by Aman Anavkar
p. 22
“Based on our current order book and pipeline, we're confident of delivering close to 25% or more growth, along with a progressive improvement on profitability.”
Aman Anavkar, page 22 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 attributed margin pressure to portfolio mix and geography, noting contribution margins remained relatively healthy.
Answered by Karan Doshi
Asked by Vikas Gupta: Why have margins shrunk despite revenue increase, and what is being done to improve consistency and investor confidence?
p. 8
“It is more of a combination of a portfolio mix. Countries like Africa, there are slight pressure on the margins.”
Karan Doshi, page 8 of the filed PDF · View the filing
Management said execution and RMC costs rose due to remobilization and supply chain pressures but the order pipeline continued growing.
Answered by Aman Anavkar
Asked by Vikas Gupta: What has been the impact of the US-Iran war on Q4 results and outlook, and how much will the order book grow?
p. 9
“The execution costs have increased due to the remobilization, like Mr. Ashwani Singh mentioned.”
Aman Anavkar, page 9 of the filed PDF · View the filing
Management said raw materials are sourced from India so cost impact is limited to freight, and rising dollar revenue would compensate.
Answered by Karan Doshi
Asked by Darshil Zaveri: What is the risk from the Middle East situation to Q1 margins?
p. 10
“the challenges is more on the freight piece, so delivery and execution can get delayed, but the impact on cost could be very small”
Karan Doshi, page 10 of the filed PDF · View the filing
Management said conversion has improved and the pipeline is large, without disclosing exact internal targets.
Answered by Ashwani Singh
Asked by Darshil Zaveri: How is the hot lead pipeline and order conversion trending?
p. 13
“our conversion is now getting improved. It is now 11% and it is reaching and hitting to around 16 to 17 percent of the hot lead.”
Ashwani Singh, page 13 of the filed PDF · View the filing
Management described a variation clause allowing renegotiation of prices with clients based on mutual understanding.
Answered by Aman Anavkar
Asked by Ankit Gupta: How are raw material price increases from the war passed on to customers via contracts?
p. 13
“we have a variation clause where we sit down with our clients and we explain the entire situation to them”
Aman Anavkar, page 13 of the filed PDF · View the filing
Management said no cancellations have occurred and demand for pharma independence has increased inquiries.
Answered by Aman Anavkar
Asked by Ankit Gupta: Have any customers cancelled or delayed projects due to the war?
p. 14
“Fortunately enough, this situation has not arose yet, and we don't expect it to, because even clients and the nations understand that pharmaceutical independence is needed for situations like this.”
Aman Anavkar, page 14 of the filed PDF · View the filing
Management explained revenue is recognised based on project progress and bill of lading submission against letters of credit.
Answered by Ashwani Singh
Asked by Bhavika: How does revenue recognition work given long execution cycles?
p. 16
“the complete revenue recognition is based on the bill of lading BL. So, once we submit our bill lading against the LC in the bank, that time we recognize the revenue.”
Ashwani Singh, page 16 of the filed PDF · View the filing
Management gave a timeframe for full conversion of the existing pipeline.
Answered by Aman Anavkar
Asked by Bhavika: What is the execution timeline for the current order book?
p. 12
“18 to 24 months.”
Aman Anavkar, page 12 of the filed PDF · View the filing
Management confirmed the target remains on track.
Answered by Aman Anavkar
Asked by Rahil: Is the FY28 PAT margin guidance of 12-14% still on track given this year's margin contraction?
p. 20
“We're on track, I would say.”
Aman Anavkar, page 20 of the filed PDF · View the filing
Management cited talent acquisition costs, a 33% rise in RMC cost, and a 43% rise in execution cost due to remobilization.
Answered by Aman Anavkar
Asked by Aniket Madhavani: What were the main reasons for margin contraction this year and what are forward margin targets?
p. 21
“the RMC cost, which grew up by close to 33%, and the last was the execution cost, which was up to 43%, which increased due to the remobilization of the installation team amidst the geographical conditions”
Aman Anavkar, page 21 of the filed PDF · View the filing
Risks flagged
Logistics disruptions and freight challenges from geopolitical conflict
p. 7
“we were able to navigate the logistics disruptions, the freight challenges that took place.”
Aman Anavkar, page 7 of the filed PDF · View the filing
Inability to depute staff from India due to visa issues, requiring local sourcing
p. 9
“we were not getting visas, and, you know, not able to, we were not able to depute our team from India. So we had to source people from the local market like Saudi, Algeria, Dubai.”
Ashwani Singh, page 9 of the filed PDF · View the filing
Rising RMC (raw material) costs from global supply chain pressures
p. 9
“There has been an increase in the RMC cost as well, which rose faster than the revenue due to the global supply chain pressures.”
Aman Anavkar, page 9 of the filed PDF · View the filing
Execution delays due to civil infrastructure readiness on client side
p. 12
“the order conversion timelines are more variable on the client side, dependent on civil infrastructure readiness.”
Aman Anavkar, page 12 of the filed PDF · View the filing
Currency devaluation risk in emerging markets such as Egypt
p. 14
“if you take the case of Egypt, where the devaluation hit the market, okay, so we cannot depend only on one economy.”
Ashwani Singh, page 14 of the filed PDF · View the filing
Receivables concentration in Dubai and Saudi from heavy Q4 billing
p. 8
“Our Receivables in Dubai is 37 crores, whereas in Saudi it is around 61 crores. This is part in, you know, typically because of last heavy quarter billing.”
Karan Doshi, page 8 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.