Quality Power Electrical Equipments Limited reported audited consolidated results for the year ended 31 March 2026 with FY26 revenue of Rs 10,070 million (mn), up 156.9 per cent year on year, and fourth quarter revenue of Rs 3,098 mn, up 138.5 per cent. Total EBITDA for the year was Rs 2,362 mn, an increase of 97.8 per cent, and profit after tax was Rs 1,855 mn, up 85.3 per cent. The company closed the year with an order book in excess of Rs 14,000 mn, about one point four times FY26 revenue.

Quarterly and annual gross profit expanded on higher volumes and improved execution, with FY26 gross profit of Rs 4,361 mn and gross margin at 43.3 per cent. The reported quarter included one time provisions related to implementation of the new labour codes across Indian operations and subsidiaries. A statutory Ind AS 29 restatement for the Turkish subsidiary resulted in an accounting adjustment of Rs 257 mn recognised under other expenses and was described as non monetary and non operative.

Execution momentum continued across HVDC, FACTS, battery energy storage systems, data centre interconnect equipment, utilities and renewable energy segments, with repeat orders from tier one utility and EPC customers in North America, Europe, the Middle East and Asia Pacific. The company noted breakthrough wins across LCC and VSC HVDC technologies, multi terminal VSC schemes and grid scale BESS tenders in Europe. Capital deployment for capacity expansion, manufacturing integration and advanced testing infrastructure progressed alongside development of the Global Coil Manufacturing Facility at Sangli.

Management characterised the structural outlook as robust amid accelerating global investment in grid modernisation, renewable integration, energy storage and data centre infrastructure, while acknowledging execution risks from raw material constraints in electrical grade steel, copper and specialised insulation systems. The company outlined mitigation measures including long term supplier agreements, dual sourcing, vertical integration at Sangli and disciplined contractual pass throughs where commercially feasible. A standard forward looking disclaimer noted that actual results may differ due to macroeconomic, geopolitical, supply and execution variables.