Powerica Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Powerica Ltd filed with BSE on 14 Aug 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
Powerica reported Q1 FY27 revenue of INR780 crores, up 26.7% year-on-year, with EBITDA of INR106 crores at a 13.6% margin and PAT of INR64 crores at an 8.3% margin. Management attributed margin pressure to commodity price inflation and the West Asia crisis, with a lag before cost increases could be passed to customers. The company highlighted a DG set order book of INR1,700 crores including INR900 crores of data center orders, and outlined progress on its wind power portfolio including new PPAs and project wins.
Numbers mentioned
Revenue: INR780 crores (Q1 FY27)
p. 3
“Q1 FY27 was marked by strong financial performance with revenue recorded at INR780 crores, reflecting a 26.7% year-on-year growth.”
Jai Ram Oberoi, page 3 of the filed PDF · View the filing
EBITDA margin: 13.6% (Q1 FY27)
p. 3
“EBITDA was INR106 crores, delivering a margin of 13.6%, and PAT was INR64 crores, resulting in a margin of 8.3%.”
Jai Ram Oberoi, page 3 of the filed PDF · View the filing
DG set order book: INR1,700 crores (as of 31st July 2026)
p. 3
“Within our DG set business powered by Cummins, the order book as of 31st July 2026 stood at INR1,700 crores, providing strong visibility for future growth.”
Jai Ram Oberoi, page 3 of the filed PDF · View the filing
Data center order book: INR900 crores (as of 31st July 2026)
p. 3
“Out of this, data center-specific orders within this business stood at INR900 crores.”
Jai Ram Oberoi, page 3 of the filed PDF · View the filing
Data center order book: INR1,100 crores (as of August 7, 2026)
p. 9
“the data center order book stood at INR900, but literally just in the past week, that order book now, like if you would take August 7th as the timestamp, that number would be 1,100.”
Jai Ram Oberoi, page 9 of the filed PDF · View the filing
Generator set business revenue contribution: 81.4% (Q1 FY27)
p. 5
“On the segmental performance, generator set business contributed 81.4% of a total revenue in Q1 FY27 with an EBITDA margin of 5.6%.”
Ritesh Agrawal, page 5 of the filed PDF · View the filing
Wind power revenue contribution: 18.6% (Q1 FY27)
p. 5
“Wind power contributed 18.6% of the total revenue in Q1 FY27, registering a growth of 28.8% Y-o-Y with an EBITDA margin of 48.6%.”
Ritesh Agrawal, page 5 of the filed PDF · View the filing
IPP owned assets in operation: 330 megawatt
p. 8
“So, currently we have 330 megawatt of owned IPP assets in operation, and we have a clear roadmap of reaching it to 633 megawatt, because we won 250 megawatt of the bids recently, which we are executing.”
Pradeep Gupta, page 8 of the filed PDF · View the filing
RECD revenue: 16-17 crores (Q1 FY27)
p. 11
“So, retrofit emission control devices business, it is strong enough, but this time we have we have about 17 crores, 16 crores of a revenue during the quarter, primarily because of one is the crisis, second is on the GRAP implementation, which was there in the Northern Capital.”
Ritesh Agrawal, page 11 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 — double-digit · FY27
stated firmly by Jai Ram Oberoi
p. 4
“For FY27, we reiterate our double-digit revenue growth guidance.”
Jai Ram Oberoi, page 4 of the filed PDF · View the filing
Genset business margin — Q3 onward
stated conditionally by Ritesh Agrawal
p. 5
“So, so this is the period that where the margin will be subdued, but we believe that from Q3 onward, it is going to improve.”
Ritesh Agrawal, page 5 of the filed PDF · View the filing
50 megawatt PPA signing — November-December
stated conditionally by Pradeep Gupta
p. 6
“So, generally after LoA, it takes 90 days for the GUVNL to sign the PPA. So, I think by December, before December, the PPA will be signed, November-December, for the 50 megawatt.”
Pradeep Gupta, page 6 of the filed PDF · View the filing
IPP capacity addition — 50 megawatt this year, 150 megawatt next year, 100 megawatt following year · multi-year
stated firmly by Pradeep Gupta
p. 11
“Yes, 50 megawatt will be added this current financial year, and next year I think the 150 megawatt will be added, and another 100 megawatt will be added to another financial year.”
Pradeep Gupta, page 11 of the filed PDF · View the filing
EPC business annual revenue — INR400 crores
stated as an aspiration by Pradeep Gupta
p. 11
“So you can say approximately the top line would be around INR400 crores of the this EPC business.”
Pradeep Gupta, page 11 of the filed PDF · View the filing
Data center revenue contribution — 20% plus · annualized
stated conditionally by Ritesh Agrawal
p. 9
“but definitely we see that 20% plus would be there from an annualized basis.”
Ritesh Agrawal, page 9 of the filed PDF · View the filing
Price hike pass-through timeline — one or two quarters
stated conditionally by Jai Ram Oberoi
p. 8
“So, one or two quarters should be a good timeline estimate to pass on this rising prices due to the raw materials and commodities.”
Jai Ram Oberoi, page 8 of the filed PDF · View the filing
Genset margin recovery to prior levels — Q3 or Q4
stated conditionally by Jai Ram Oberoi
p. 16
“Yes, that's what we would expect, and while we obviously, we constantly evaluate the unpredictable situation that we're all in geopolitically.”
Jai Ram Oberoi, 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 said order book grew 15-19% year-on-year as of end July.
Answered by Jai Ram Oberoi
Asked by Mohit Kumar: What was the order inflow and order book growth versus prior periods?
p. 5
“but we can consider a 15% to 19% increase in the order book vis-a-vis same quarter last year, as of July 31st itself, depending on the product mix.”
Jai Ram Oberoi, page 5 of the filed PDF · View the filing
Management said margin will remain subdued through Q1 and part of Q2 due to the West Asia crisis, improving from Q3.
Answered by Ritesh Agrawal
Asked by Mohit Kumar: How should the genset EBITDA margin be modeled going forward?
p. 5
“Mohit, as we mentioned in our earlier call as well that due to West Asia crisis, this will be -- the margin will be impacted for Q1 and part of the Q2.”
Ritesh Agrawal, page 5 of the filed PDF · View the filing
Management said MSLG had won a INR41 crore tender and other large orders were in the pipeline.
Answered by Ritesh Agrawal
Asked by Mohit Kumar: What is the MSLG order book status?
p. 6
“So recently, we have won one tender of INR41 crores, which is to be executed between 12 months to 15 months.”
Ritesh Agrawal, page 6 of the filed PDF · View the filing
Management detailed the PPA status for each of the three recently won wind projects.
Answered by Pradeep Gupta
Asked by Mohit Kumar: What is the status of PPA signing for the newly won wind projects?
p. 6
“So, first project of 100 megawatt GUVNL, we have signed the Power Purchase Agreement, and the project is under construction.”
Pradeep Gupta, page 6 of the filed PDF · View the filing
Management said the execution period spans 12-18 months rather than being confined to one fiscal year.
Answered by Jai Ram Oberoi
Asked by Divyam Surekha: Is the data center order book expected to be fully executed within FY27?
p. 7
“No. So, the data center order book is expected to be executed over the next 12 to 18 months.”
Jai Ram Oberoi, page 7 of the filed PDF · View the filing
Management said no orders were lost due to supply constraints, though the whole industry faces demand growth pressure.
Answered by Jai Ram Oberoi
Asked by Divyam Surekha: Are supply constraints causing lost orders?
p. 7
“I mean, we're not losing any orders or anything because of supply constraints.”
Jai Ram Oberoi, page 7 of the filed PDF · View the filing
Management said the data center order book grew from INR400-500 crore historically to INR900 crore, and revenue contribution rose past 20%.
Answered by Ritesh Agrawal
Asked by Saif Gujar: How is the data center order book and revenue contribution trending?
p. 9
“we have mentioned earlier about the data center order book, we used to be about INR400 to INR500 crore, which is now we are sitting at INR900 crore of a data center books.”
Ritesh Agrawal, page 9 of the filed PDF · View the filing
Management said BOP execution value was about 30% in the quarter, though it varies by site.
Answered by Ritesh Agrawal
Asked by Harsh Bengani: What proportion of data center orders is balance-of-plant work?
p. 10
“So, it is blended. So, I can tell you if today we are talking about 30%. Tomorrow, it might be 50%, and it can be about 10%.”
Ritesh Agrawal, page 10 of the filed PDF · View the filing
Management said RECD revenue was subdued due to the crisis and GRAP implementation delays.
Answered by Ritesh Agrawal
Asked by Nagendra Maurya: What was the RECD business contribution this quarter?
p. 11
“So, retrofit emission control devices business, it is strong enough, but this time we have we have about 17 crores, 16 crores of a revenue during the quarter, primarily because of one is the crisis, second is on the GRAP implementation, which was there in the Northern Capital.”
Ritesh Agrawal, page 11 of the filed PDF · View the filing
Management said allied revenue is milestone-driven and defense orders depend on multi-year approval cycles, causing quarter-wise deferment.
Answered by Ritesh Agrawal
Asked by Mohit Kumar: Why has allied business revenue growth slowed?
p. 12
“So Mohit, there is no slowdown per se. There was so allied business as a majority portion that comes from is a project-related work.”
Ritesh Agrawal, page 12 of the filed PDF · View the filing
Management said margins are expected to normalize after Q3 or Q4, subject to geopolitical conditions.
Answered by Jai Ram Oberoi
Asked by Sagar Parekh: When will genset margins return to original FY26 levels?
p. 16
“Yes, that's what we would expect, and while we obviously, we constantly evaluate the unpredictable situation that we're all in geopolitically.”
Jai Ram Oberoi, page 16 of the filed PDF · View the filing
Risks flagged
Geopolitical uncertainty and energy prices impacting performance
p. 3
“As flagged on our last call, the geopolitical uncertainties and energy prices have had an impact on our performance.”
Jai Ram Oberoi, page 3 of the filed PDF · View the filing
Commodity price inflation weighing on margins with a lag before pass-through
p. 3
“Commodity price inflation weighed on our margins this quarter as there is typically a certain time lag before we can pass rising input costs through to our customers.”
Jai Ram Oberoi, page 3 of the filed PDF · View the filing
West Asia crisis impacting genset margins for Q1 and part of Q2
p. 5
“Mohit, as we mentioned in our earlier call as well that due to West Asia crisis, this will be -- the margin will be impacted for Q1 and part of the Q2.”
Ritesh Agrawal, page 5 of the filed PDF · View the filing
International MSLG inquiries put on hold due to geopolitical situation
p. 9
“Yes. So with MSLG, there was a slowdown in the order booking solely due to the geopolitical situation, because a lot of international inquiries got put on hold and have very recently resumed”
Jai Ram Oberoi, page 9 of the filed PDF · View the filing
RECD demand postponed due to crisis and GRAP implementation
p. 11
“So, retrofit emission control devices business, it is strong enough, but this time we have we have about 17 crores, 16 crores of a revenue during the quarter, primarily because of one is the crisis, second is on the GRAP implementation, which was there in the Northern Capital.”
Ritesh Agrawal, page 11 of the filed PDF · View the filing
Increasing competition in the data center DG segment
p. 13
“So, competition continues to increase, right, but we are confident in our product and not just the product, but also the reputation and the trust that Powerica has in the execution of these orders, right.”
Jai Ram Oberoi, page 13 of the filed PDF · View the filing
Defense order approvals subject to lengthy cycles causing deferment
p. 12
“Defense order works on the orders that you get on a and then you are completing that order, and that takes about approval cycle, which is generally from an year that goes up to three year.”
Ritesh Agrawal, page 12 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.