RIR Power Electronics Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript RIR Power Electronics Ltd filed with BSE on 18 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
RIR Power Electronics reported Q1 FY27 revenue growth of 29.3% year-on-year to Rs. 27.16 crores, with EBITDA at Rs. 3.98 crores and earnings per share of 39 paisa. Management discussed progress at the Odisha facility, including completion of clean room construction, charging of the transformer, and plans to begin epitaxy operations by the end of Q2 FY27. The company also listed on NSE during the quarter and appointed a new Independent Director and Chief Financial Officer.
Numbers mentioned
Revenue: Rs. 27.16 crores (Q1 FY27)
p. 4
“We started Q1 FY'27 on a very strong note, with revenue growing by 29.3% year-on-year to Rs. 27.16 crores”
N. Ramesh Kumar, page 4 of the filed PDF · View the filing
EBITDA: Rs. 3.98 crores (Q1 FY27)
p. 4
“EBITDA for the quarter came in at 3.98 crores.”
N. Ramesh Kumar, page 4 of the filed PDF · View the filing
Earnings per share: 39 paisa per share (Q1 FY27)
p. 4
“Earnings per share for the quarter stood at 39 paisa per share.”
N. Ramesh Kumar, page 4 of the filed PDF · View the filing
Total CAPEX for Odisha plant: Rs. 618 crores
p. 9
“So, the total expected CAPEX for the Orissa plant is Rs. 618 crores.”
Ankit Shah, page 9 of the filed PDF · View the filing
Phase 1 CAPEX for Odisha plant: Rs. 225 crores
p. 9
“For the first phase we expect the CAPEX to be around Rs. 225 crores.”
Ankit Shah, page 9 of the filed PDF · View the filing
Phase 2 CAPEX for Odisha plant: Rs. 395 crores-Rs. 400 crores
p. 9
“And for the second phase we expect the CAPEX to be around Rs. 395 crores-Rs. 400 crores.”
Ankit Shah, page 9 of the filed PDF · View the filing
Government subsidy received for Odisha plant: Rs. 58 crores
p. 10
“So, till now government has provided a subsidy of Rs. 58 crores.”
Ankit Shah, page 10 of the filed PDF · View the filing
Bank loan application amount: Rs. 70 crores
p. 11
“So, we have made an application for Rs. 70 crores.”
Ankit Shah, page 11 of the filed PDF · View the filing
Estimated revenue from epi wafer sales: Rs. 12 crores to Rs. 15 crores (H2 FY27)
p. 11
“We are estimating and targeting revenue out of sale of epi wafers in the range of Rs. 12 crores to Rs. 15 crores for the second half of this year.”
Ankit Shah, page 11 of the filed PDF · View the filing
EBITDA margin on epi wafer sales: 20%-25%
p. 12
“So, we expect an EBITDA somewhere in the range of 20%-25% on sale of epi wafers.”
Ankit Shah, page 12 of the filed PDF · View the filing
Useful life of plant and machinery for depreciation: 15 years
p. 13
“But generally, what we consider for plant and machinery is 15 years.”
Ankit Shah, page 13 of the filed PDF · View the filing
Targeted yield for epitaxial wafer process: 85%, goal above 90%
p. 14
“We usually take about 85% yield number.”
Harshad Mehta, page 14 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.
Quarterly revenue run rate (core business, excluding Odisha) — Rs. 30 plus crores per quarter · this year
stated firmly by N. Ramesh Kumar
p. 5
“I think this year, we will be able to easily cross about Rs. 30 plus crores per quarter.”
N. Ramesh Kumar, page 5 of the filed PDF · View the filing
Quarterly revenue run rate (core business, excluding Odisha) — Rs. 50 crore quarterly run rate · next 6 to 9 months
stated conditionally by N. Ramesh Kumar
p. 6
“So, maybe going forward, maybe next 6 months to 9 months down the line, we should be in a position to meet your expectation.”
N. Ramesh Kumar, page 6 of the filed PDF · View the filing
Odisha epitaxy operations commencement — end of Q2 FY27
stated firmly by N. Ramesh Kumar
p. 4
“We expect to commence epitaxy operations in the end of second quarter FY'27.”
N. Ramesh Kumar, page 4 of the filed PDF · View the filing
Odisha official inauguration — September 2026
stated as an aspiration by Harshad Mehta
p. 7
“And I would like to have in September 2026, hopefully before Semicon India, an official inauguration of our Odisha production epi facility.”
Harshad Mehta, page 7 of the filed PDF · View the filing
Revenue growth (topline) — 3 to 4 times last year's top line growth · this year
stated firmly by N. Ramesh Kumar
p. 10
“But at least this year we are targeting to grow at least 3 to 4 times than what we have done in last year in the top line growth as well as even more in the bottom-line growth.”
N. Ramesh Kumar, page 10 of the filed PDF · View the filing
Odisha packaging revenue — Q2 FY28
stated conditionally by N. Ramesh Kumar
p. 10
“So, that will take maybe our revenue will come from the packaging maybe second quarter of FY'28.”
N. Ramesh Kumar, page 10 of the filed PDF · View the filing
Odisha epi wafer revenue commencement — Q3 FY27
stated firmly by N. Ramesh Kumar
p. 12
“I think we said that from third quarter of this financial year we will start registering some revenue from Odisha plant.”
N. Ramesh Kumar, page 12 of the filed PDF · View the filing
Long-term EBITDA margin — 15%-17%
stated as an aspiration by N. Ramesh Kumar
p. 8
“Yes, our always aim is to be there where what you mentioned the numbers.”
N. Ramesh Kumar, page 8 of the filed PDF · View the filing
R&D spend — 8%-10% of spending
stated firmly by Harshad Mehta
p. 8
“I always believed in about 8%-10% spending in R&D as a long-term investment.”
Harshad Mehta, page 8 of the filed PDF · View the filing
Silicon carbide market capture versus GaN — next three years
stated as an aspiration by Harshad Mehta
p. 13
“So, it's very likely that silicon carbide can capture at least the power side of the GaN market in next three years or so.”
Harshad Mehta, page 13 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 Rs. 50 crores per quarter may take 6-9 months longer, but this year should cross Rs. 30 plus crores per quarter.
Answered by N. Ramesh Kumar
Asked by Prateek Giri: What is the best case quarterly revenue run rate for the core business excluding Odisha?
p. 5
“I think this year, we will be able to easily cross about Rs. 30 plus crores per quarter.”
N. Ramesh Kumar, page 5 of the filed PDF · View the filing
Management said pushing cost increases to the market is difficult due to West Asia disturbances, making value-addition pricing tough until the situation stabilizes.
Answered by N. Ramesh Kumar
Asked by Prateek Giri: Can pricing be increased through more value addition given current constraints?
p. 6
“But today also because of this West Asia disturbances, pushing the cost increase to the market itself is becoming a bit difficult.”
N. Ramesh Kumar, page 6 of the filed PDF · View the filing
Management said in-principle approval was received and the final sanction committee meeting was pushed to the next week.
Answered by Ankit Shah
Asked by Sandeep Rao (asked by Nirmal Kumar): What is the status of the bank loan facility?
p. 7
“So, we have received the in-principle approval from the bank.”
Ankit Shah, page 7 of the filed PDF · View the filing
Management attributed the improvement to passing on raw material cost increases and cost control, but said sustainability depends on external geopolitical factors.
Answered by N. Ramesh Kumar
Asked by Nishita: What drove the EBITDA margin improvement in Q1 and is it sustainable?
p. 8
“So, margins is not always only on our control. It is sometimes on the control of external environment also.”
N. Ramesh Kumar, page 8 of the filed PDF · View the filing
Management said about 80-85% of the cost increase was passed on to customers on new orders.
Answered by N. Ramesh Kumar
Asked by Nishita: Was the price increase able to fully offset the input cost increase?
p. 9
“I can say almost about 80%-85% passed it on to the customers.”
N. Ramesh Kumar, page 9 of the filed PDF · View the filing
Management gave the total expected CAPEX figure and phase-wise breakdown.
Answered by Ankit Shah
Asked by Nishita: What is the total CAPEX plan for the Odisha plant across both phases?
p. 9
“So, the total expected CAPEX for the Orissa plant is Rs. 618 crores.”
Ankit Shah, page 9 of the filed PDF · View the filing
Management said they don't give long-term commitments but are targeting 3-4x growth in topline this year versus last year.
Answered by N. Ramesh Kumar
Asked by Garvit Goel: What is the growth strategy and target scale for the company going forward?
p. 10
“So, generally we don't give any forward-looking statements or commitments. But at least this year we are targeting to grow at least 3 to 4 times than what we have done in last year in the top line growth as well as even more in the bottom-line growth.”
N. Ramesh Kumar, page 10 of the filed PDF · View the filing
Management detailed the company's contribution and government subsidy amounts, noting a further Rs. 100 crores remains to be spent.
Answered by Ankit Shah
Asked by Prateek Giri: How much of the Rs. 225 crore phase 1 CAPEX has been funded by the company versus government subsidy?
p. 10
“So, till now government has provided a subsidy of Rs. 58 crores. And company has also made an equivalent contribution.”
Ankit Shah, page 10 of the filed PDF · View the filing
Management said they have approached international customers in the US and Taiwan, and have been approached by Indian government labs.
Answered by Harshad Mehta
Asked by Prateek Giri: Has any customer been secured for offtake of epitaxy wafers from the Odisha plant?
p. 11
“Yes, we have approached international customers in US as well as Taiwan.”
Harshad Mehta, page 11 of the filed PDF · View the filing
Management said they are following up but have no update yet from Richardson Electronics.
Answered by Harshad Mehta
Asked by Richa: What is the update on the Richardson Electronics chip supply and review?
p. 12
“We are following with them. We are following with them at this moment, but I don't have any update from them, even though we have the marketing people following up with them as well.”
Harshad Mehta, page 12 of the filed PDF · View the filing
Management said SiC products and devices would have better margins than epi wafers.
Answered by Ankit Shah
Asked by Nishita: What is the margin profile of epi wafers compared to existing Halol products?
p. 12
“Right, so SiC products and devices would have better margin than epi.”
Ankit Shah, page 12 of the filed PDF · View the filing
Management said they do not provide long-term commitments or forward-looking statements on such calls.
Answered by N. Ramesh Kumar
Asked by Sanjay Garg: What is the company's five-year vision and revenue target?
p. 13
“See, Mr. Sanjay, generally we don't give a very long-term commitment or forward-looking statements.”
N. Ramesh Kumar, page 13 of the filed PDF · View the filing
Management said they want to focus on silicon carbide's full potential first, citing limited yield improvement seen in vertical GaN structures.
Answered by Harshad Mehta
Asked by Charchit Rustagi: Is the company considering entering gallium nitride (GaN) technology?
p. 13
“I want to focus at this point on silicon carbide to its full potential.”
Harshad Mehta, page 13 of the filed PDF · View the filing
Risks flagged
Difficulty passing on cost increases to customers due to West Asia disturbances
p. 6
“But today also because of this West Asia disturbances, pushing the cost increase to the market itself is becoming a bit difficult.”
N. Ramesh Kumar, page 6 of the filed PDF · View the filing
EBITDA margin sustainability dependent on external geopolitical factors outside company control
p. 8
“It is sometimes on the control of external environment also.”
N. Ramesh Kumar, page 8 of the filed PDF · View the filing
Raw material price increases in metals like copper, gold and silver affecting costs
p. 8
“So, the prices studied the increasing especially in metals like copper, gold and silver where we use it in our equipment.”
N. Ramesh Kumar, page 8 of the filed PDF · View the filing
Phase 2 CAPEX for Odisha plant still under discussion and unconfirmed
p. 9
“And for phase 2 we are still under discussion.”
Ankit Shah, page 9 of the filed PDF · View the filing
Dicing and curve losses in epitaxial wafer production that cannot be controlled
p. 14
“There are always some, when you look at the epi, there are some dicing losses, curve losses and so forth that we cannot control.”
Charchit Rustagi, page 14 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.