Gabion Technologies India Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Gabion Technologies India Ltd filed with BSE on 27 May 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
Gabion Technologies India Limited reported FY26 total income of Rs 115.58 crores, up 14.15% year-on-year, with EBITDA rising 15.75% to Rs 17.79 crores and net profit growing 31.04% to Rs 8.11 crores. H2 FY26 showed stronger growth, with total income up 29.44% to Rs 74.87 crores and EBITDA up 72.09% to Rs 11.91 crores. Management said the current order book stood at approximately Rs 200 crores and outlined plans to expand manufacturing capacity to 18,000 metric tons by September 2026.
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
Total income: INR115.58 crores (FY26)
p. 3
“For FY26, total income stood at INR115.58 crores, registering a growth of 14.15% year-on-year.”
Madhusudan Sarda, page 3 of the filed PDF · View the filing
EBITDA: INR17.79 crores (FY26)
p. 3
“EBITDA for the year increased to INR17.79 crores from INR15.37 crores, reflecting a growth of 15.75%.”
Madhusudan Sarda, page 3 of the filed PDF · View the filing
Net profit: INR8.11 crores (FY26)
p. 3
“Net profit grew to INR8.11 crores compared to INR6.19 crores in FY25, registering a strong growth of 31.04%.”
Madhusudan Sarda, page 3 of the filed PDF · View the filing
Total income: INR74.87 crores (H2 FY26)
p. 4
“Total income for H2 FY26 stood at INR74.87 crores, as against INR57.84 crores in H2 FY25, registering a growth of 29.44%.”
Madhusudan Sarda, page 4 of the filed PDF · View the filing
EBITDA: INR11.91 crores (H2 FY26)
p. 4
“EBITDA increased to INR11.91 crores, reflecting a strong growth of 72.09%, while EBITDA margins improved to 15.91%.”
Madhusudan Sarda, page 4 of the filed PDF · View the filing
Net profit: INR5.69 crores (H2 FY26)
p. 4
“Net profit for the half-year stood at INR5.69 crores, registering a strong growth of 62.53%.”
Madhusudan Sarda, page 4 of the filed PDF · View the filing
Net profit margin: 7.60% (H2 FY26)
p. 4
“Net profit margins improved to 7.60%.”
Madhusudan Sarda, page 4 of the filed PDF · View the filing
Order book: approximately INR200 crores
p. 4
“Our current order book stood at approximately INR200 crores, which provides strong revenue visibility for the coming period and reflects continued customer confidence and deep business momentum.”
Madhusudan Sarda, page 4 of the filed PDF · View the filing
Capacity utilization: around 80%
p. 3
“We have a high-capacity utilization of around 80%, supported by more than 170 old machineries and strong project execution capabilities, further strengthening our operational performance during the year.”
Madhusudan Sarda, page 3 of the filed PDF · View the filing
Debt equity ratio: around 0.7
p. 8
“Actually, our debt equity ratio has become very less now. Around 0.7 is our debt equity ratio.”
Madhusudan Sarda, page 8 of the filed PDF · View the filing
Finance cost: INR4.7 crores (FY26)
p. 8
“And the finance cost this year has been INR4.7 crores.”
Madhusudan Sarda, page 8 of the filed PDF · View the filing
Order booking: INR44 crores (FY27 (to date))
p. 6
“So, with this momentum, we are likely to book a large number of large orders and which will spill over to the execution, will spill over to the next financial year.”
Madhusudan Sarda, page 6 of the filed PDF · View the filing
Total capex since last year: approximately INR8 crores (FY26-FY27)
p. 6
“Yes. So, the total capex since last year would be approximately INR8 crores.”
Madhusudan Sarda, page 6 of the filed PDF · View the filing
Manufacturing output: around 8,000 tons (FY26)
p. 12
“It was around 8,000 tons and that was around, so that will be around INR75 crores of product value.”
Madhusudan Sarda, page 12 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 — INR200 crores · FY27
stated firmly by Madhusudan Sarda
p. 5
“We are targeting a turnover of INR200 crores in FY27, which will translate into a growth of approximately 40%-45% over FY26 figures.”
Madhusudan Sarda, page 5 of the filed PDF · View the filing
Revenue — more than INR300 crores · next financial year
stated as an aspiration by Madhusudan Sarda
p. 6
“So, in the next financial year, we are expecting turnover of more than INR300 crores.”
Madhusudan Sarda, page 6 of the filed PDF · View the filing
Revenue — INR300 crores · FY28
stated as an aspiration by Madhusudan Sarda
p. 16
“That was for FY28.”
Madhusudan Sarda, page 16 of the filed PDF · View the filing
Manufacturing capacity — 18,000 metric tons · September 2026
stated firmly by Madhusudan Sarda
p. 6
“So, then our production will become 18,000 metric tons by September 2026.”
Madhusudan Sarda, page 6 of the filed PDF · View the filing
EBITDA margin — 0.1% to 2% increase · FY27
stated as an aspiration by Madhusudan Sarda
p. 8
“We are expecting a 0.1% or up to 2% increase increment in the coming year owing to the economies of scale that we are going to generate in this year.”
Madhusudan Sarda, page 8 of the filed PDF · View the filing
Finance cost — around current level · FY27
stated firmly by Madhusudan Sarda
p. 8
“And we expect it to be around this level only. So, we don't expect an increase in our finance costs.”
Madhusudan Sarda, page 8 of the filed PDF · View the filing
Order book execution — 90% · FY27
stated firmly by Madhusudan Sarda
p. 15
“Most of the, almost 90% will be completed this year only, because the order book, now, the new projects we are getting, we are going to complete, we are now planning to complete all of them quickly.”
Madhusudan Sarda, page 15 of the filed PDF · View the filing
Manufacturing revenue — INR200 crores from product sale
stated firmly by Madhusudan Sarda
p. 11
“That will translate to approximately INR200 crores of just sale of product.”
Madhusudan Sarda, page 11 of the filed PDF · View the filing
Export opportunities
stated as an aspiration by Madhusudan Sarda
p. 16
“So, we will take a call how to go about catering to the export market because there is an export market.”
Madhusudan Sarda, page 16 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 the shortfall to unbilled work-in-progress that could not be completed within the year.
Answered by Madhusudan Sarda
Asked by Nishita Shanklesha: Why did revenue growth of 14% fall short of the earlier guided 20%-25% for FY26?
p. 4
“There is a work in progress in our project amounting to approximately INR15 crores, which could not get built during the financial year.”
Madhusudan Sarda, page 4 of the filed PDF · View the filing
Management said organizational capacity building took time before the company could scale.
Answered by Madhusudan Sarda
Asked by Madhur Rathi: What caused flattish revenue over FY24-26?
p. 8
“I guess it was the organizational capacities that needed to expand was not achieved during those years.”
Madhusudan Sarda, page 8 of the filed PDF · View the filing
Management said services carry roughly 10 percentage points higher margin than manufacturing.
Answered by Madhusudan Sarda
Asked by Madhur Rathi: How does margin in services compare to manufacturing?
p. 9
“The margin in services is approximately 10% higher than just in the manufacturing field.”
Madhusudan Sarda, page 9 of the filed PDF · View the filing
Management pointed to unbilled project work-in-progress and retention money inflating reported inventory and receivables.
Answered by Madhusudan Sarda
Asked by Madhur Rathi: Why has working capital risen sharply despite flattish revenue?
p. 12
“So, this year we have a INR15 crores working progress in our project, which has been added to the, which has got added to the inventory.”
Madhusudan Sarda, page 12 of the filed PDF · View the filing
Management said the business model built around design and execution expertise supports sustainable margins.
Answered by Madhusudan Sarda
Asked by Durgesh: What drove the strong H2 operating leverage and is the margin profile sustainable?
p. 14
“So, with this business model, we are able to sustain the margins and increase our business.”
Madhusudan Sarda, page 14 of the filed PDF · View the filing
Management said large advance bookings with suppliers and customers, plus renegotiation clauses, insulate margins.
Answered by Madhusudan Sarda
Asked by Madhur Rathi: How does the company manage steel and polymer price fluctuation risk?
p. 17
“They will have an impact, but we insulate ourselves by booking large quantities, so that at any given time, we have a pipeline of supplies coming in at a rate which we have already entered in our sale prices.”
Madhusudan Sarda, page 17 of the filed PDF · View the filing
Management said manufacturing orders typically take about one month while project execution takes six to nine months.
Answered by Madhusudan Sarda
Asked by Madhur Rathi: What is the typical order execution timeline?
p. 18
“The manufacturing part will be within one month. One month is a typical period in which we complete an order.”
Madhusudan Sarda, page 18 of the filed PDF · View the filing
Risks flagged
Revenue loss from incomplete work-in-progress on a project
p. 4
“There is a work in progress in our project amounting to approximately INR15 crores, which could not get built during the financial year.”
Madhusudan Sarda, page 4 of the filed PDF · View the filing
Slower payment compliance by some private customers versus 45-day MSME norms
p. 9
“Yes, as far as the 45-day treatment is concerned, still a lot of companies are not honoring that as much as it should be.”
Madhusudan Sarda, page 9 of the filed PDF · View the filing
Steel and polymer price fluctuations affecting margins
p. 17
“They will have an impact, but we insulate ourselves by booking large quantities, so that at any given time, we have a pipeline of supplies coming in at a rate which we have already entered in our sale prices.”
Madhusudan Sarda, page 17 of the filed PDF · View the filing
Manufacturing capacity constraints limiting ability to serve export demand
p. 16
“As I said, we are increasing, we are doubling our capacity currently, and that also might not be able to suffice the domestic demand.”
Madhusudan Sarda, page 16 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.