Schneider Electric Infrastructure Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Schneider Electric Infrastructure Ltd filed with BSE on 20 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
Schneider Electric Infrastructure reported Q1 FY27 order intake of Rs 915 crores, the highest ever for a quarter, with sales growth of about 5% year-on-year described as a typical soft Q1 start. EBIT came in lower at Rs 32 crores, with management attributing the margin pressure to commodity inflation, rupee depreciation, and negative operating leverage on fixed costs during the quarter. Management said the backlog stood at over Rs 2,100 crores, up around 33%, entering Q2.
Numbers mentioned
Order intake: INR915 crores (Q1 FY27)
p. 7
“The order is what you see here is the number is INR915 crores.”
Omkar Prasad, page 7 of the filed PDF · View the filing
Order intake growth (Y-o-Y): 0.5% (Q1 FY27)
p. 7
“While you see the growth year-to-year is 0.5%, but if you look at sequential quarter growth is in double digits.”
Omkar Prasad, page 7 of the filed PDF · View the filing
Sales growth (Y-o-Y): around 5% (Q1 FY27)
p. 7
“The sales is a soft start as we say, we started from Y-o-Y around close to 5% growth.”
Omkar Prasad, page 7 of the filed PDF · View the filing
Backlog: around INR 2,100 crores plus (entering Q2 FY27)
p. 7
“Very good news that we still have very strong backlog, which is growth is close to 33% and around INR 2,100 crores plus backlog we are going entering into the Q2, which is a good thing.”
Omkar Prasad, page 7 of the filed PDF · View the filing
EBIT: INR32 crores (Q1 FY27)
p. 7
“EBIT, I will give you more clarity. It's lower than last year, the number is INR32 crores.”
Omkar Prasad, page 7 of the filed PDF · View the filing
Total income margin (PAT-related): 1.9% (Q1 FY27)
p. 8
“We have a normal tax expenses and then we have a total income, which is 1.9% is in the Q1 because of the impact on the GM and also we have a negative operating leverage, which we will try to catch up in the subsequent quarter.”
Omkar Prasad, page 8 of the filed PDF · View the filing
Import content of COGS: 10% to 15%
p. 10
“This will be in the range of 10% to 15%, not more than that.”
Omkar Prasad, page 10 of the filed PDF · View the filing
Export revenue contribution: 10% to 12% (current)
p. 14
“Today, our export revenue is in the range of 10% to 12% in the revenue.”
Omkar Prasad, page 14 of the filed PDF · View the filing
Contracts with price variation clauses: 20% to 25%
p. 13
“Yes. So historically, I think we -- given this heads up that on price variation clause in the contract, it's in the range of 20%, 25%, not more than that, and which is mostly -- which are large execution cycle project, which is more than 6 months to 1 year, more than 1 year.”
Omkar Prasad, page 13 of the filed PDF · View the filing
Capex in three plants over last 3 years: roughly about INR500 crores (last 3 years)
p. 11
“we have we have actually taken on a capex of roughly about INR500 crores in our 3 plants, which we have.”
Udai Singh, page 11 of the filed PDF · View the filing
CRISIL rating score: 63 out of 100 (FY25)
p. 6
“is the CRISIL rating, where we have been awarded as a strong rated organization with a score of 60 plus as 63 out of 100 just about 3 months ago in '25 for the '25.”
Udai Singh, page 6 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 performance trajectory — next 3 quarters
stated conditionally by Sameer Thakur
p. 9
“What I can see is that we are seeing the forward-looking 3 quarters, including the one which half of which has gone by is good for us.”
Sameer Thakur, page 9 of the filed PDF · View the filing
Sequential quarter performance vs Q1 — Q2 FY27
stated as an aspiration by Omkar Prasad
p. 9
“So Q2 will be a forward-looking statements, I'm not giving you the right thing. But the idea is that historically we always do better than Q1.”
Omkar Prasad, page 9 of the filed PDF · View the filing
Expansion completion timeline — calendar year 27 and 28
stated firmly by Udai Singh
p. 15
“There are many things which are going to happen in calendar year '27. There are a few which is going to get over by '28 and thereafter a ramp-up plan.”
Udai Singh, page 15 of the filed PDF · View the filing
Export revenue value
stated as an aspiration by Omkar Prasad
p. 15
“But I can assure you that in terms of the value -- absolute value, it is there in the strategy when we include the capex in the Kolkata plant. It will increase for sure.”
Omkar Prasad, page 15 of the filed PDF · View the filing
Full year performance for balance quarters — balance 3 quarters of FY27
stated as an aspiration by Udai Singh
p. 17
“I'm confident that moving forward, the year, which are balance 3 quarters will be good for us.”
Udai Singh, page 17 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 increase largely to operating cost inflation from April salary increments, with FX also contributing alongside general inflation.
Answered by Omkar Prasad
Asked by Sameer Thakur: Whether the miss was driven by lack of operating leverage and how much of other expense growth is FX-driven.
p. 9
“Yes, thank you Sameer. So this is largely because of operating because our expenses all the GSR, what we call inflation cost, salary and other cost charges increases from 1st April.”
Omkar Prasad, page 9 of the filed PDF · View the filing
Management stated more than one-fifth of the order bank comes from new emerging segments.
Answered by Udai Singh
Asked by Sameer Thakur: What is the current exposure to the emerging segments like data center and semiconductors in the order book.
p. 9
“I can -- what I can state here at this point is more than 1/5 of what is coming is on this new emerging segment is what we hold in our order bank.”
Udai Singh, page 9 of the filed PDF · View the filing
Management confirmed imports are 10-15% of COGS and exports provide a natural hedge in a similar range.
Answered by Omkar Prasad
Asked by Vinod: What portion of COGS is import-driven and whether there is a natural export hedge.
p. 10
“Yes, yes. When you talk about the FX currency, yes, it gets naturally hedged because we do have export as well in the same range.”
Omkar Prasad, page 10 of the filed PDF · View the filing
Management explained legacy orders had firm pricing without revision clauses, so rising commodity costs could not be passed to customers.
Answered by Omkar Prasad
Asked by Vinod: How do legacy fixed-price orders booked before December impact margins now.
p. 10
“So when we have a customer firm price and then price of the raw material like copper, of oil and all the other costs have increased, we are unable to go back to customer and ask for the revisions, okay?”
Omkar Prasad, page 10 of the filed PDF · View the filing
Management said import dependency has not increased and the company is focusing on India-for-India indigenous inputs.
Answered by Omkar Prasad
Asked by Manish Goyal: Has the import content of products/systems increased, contributing to margin pressure.
p. 14
“Not really, not really. In fact, Udai can talk about more I4I, where we are focusing more on India for India and more indigenous inputs increase, but we are not increasing import dependency.”
Omkar Prasad, page 14 of the filed PDF · View the filing
Management said price hike actions were initiated on time when cost increases were first observed, and the current quarter's margin fall is more due to operating leverage and raw material impact.
Answered by Udai Singh
Asked by Aditya Deorah: Why weren't price hikes taken earlier compared to competitors, given margin pressure over recent quarters.
p. 16
“We have initiated the price hike action right at the time when we started witnessing it.”
Udai Singh, page 16 of the filed PDF · View the filing
Risks flagged
Rupee depreciation increasing cost of imported inputs and dollar-denominated expenses
p. 4
“And also it's about 8% is where the rupee has depreciated since the time we started this year.”
Udai Singh, page 4 of the filed PDF · View the filing
Commodity price inflation in copper, aluminum, steel impacting gross margin
p. 4
“And also the commodity prices, if you notice, has actually also been going up, copper, aluminum, steel and the labor which we use actually has been going up, and we are trying to see as to, how do we mitigate this.”
Udai Singh, page 4 of the filed PDF · View the filing
Legacy fixed-price contracts without price variation clauses limiting ability to pass on cost increases
p. 11
“So that's what we are trying to say that wherever we can't contractually go back to the customer to revise the price or seek for the price revisions and that's impacting our P&L.”
Omkar Prasad, page 11 of the filed PDF · View the filing
Inability to enforce price variation clauses in all government tenders backed by EPC
p. 11
“So while we've taken an action, we can't enforce the price variation in all the government tenders backed by EPC and others. So that's -- we have a challenge there.”
Omkar Prasad, page 11 of the filed PDF · View the filing
Negative operating leverage from Q1 salary increments amid moderate sales growth
p. 7
“And just because the growth -- sales growth, we are at so moderate at 5%, there is something in the Q1 as negative operating leverage.”
Omkar Prasad, page 7 of the filed PDF · View the filing
Risk of execution delays in customer projects impacting gross margin even where price variation clauses exist
p. 11
“But I will say still we have a risk there. If there's a delay in execution of the projects of the customer, we may have impact in the GM again.”
Omkar Prasad, 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.