Hind Rectifiers Posts Strong FY26 Earnings Growth

19 May 2026 CW Team

Hind Rectifiers Limited reported audited results for the year ended 31 March 2026 as its power semiconductor, power electronic and railway equipment businesses sustained strong momentum. The board approved bonus shares in the ratio of one for one.

The company said standalone revenue rose 44.8 per cent to Rs 9.492 billion (bn) in FY26 from Rs 6.554 billion. EBITDA increased 45.5 per cent to Rs 1.025 billion and profit after tax rose 54.7 per cent to Rs 0.577 billion, while operating cash flow improved 154.8 per cent to Rs 0.907 billion. Debt equity ratio remained 1.02 and ROCE and ROE were 24.2 per cent and 30.3 per cent respectively.

Consolidated revenue rose 52.5 per cent to Rs 9.991 billion, with EBITDA up 19.6 per cent to Rs 0.841 billion and profit after minority interest at Rs 0.45 billion. Consolidated operating cash flow increased 141.0 per cent to Rs 0.858 billion.

Order book was Rs 8.455 billion at 31 March 2026, driven by railway expansion and government initiatives. The company secured export contracts for traction transformers to Germany and IGBT based inverters to the United States and completed acquisition of Elventive France to establish a European hub for robotics, power electronics and EMS. A specialised copper conductor facility at Sinnar became operational with around 350 tonne (t) per month capacity and an indigenous propulsion system moved into validation and field trials.

Management attributed performance to improved execution, working capital discipline and investments in capacity, research and development and global expansion, and reported fresh order inflows of Rs 8.584 billion during the year. It noted a robust R&D pipeline with 42 products under development and said it remained confident of sustainable growth given industry tailwinds and a healthy opportunity pipeline.

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