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Hirect Limited Q3 FY26 earnings call summary

NSE: HIRECT · BSE: 504036

Earnings call of 12 Feb 2026, summarised by AI from the filing.

Management expects 30% year-on-year growth next year from existing business, with margins better in Q4 and Q1 and real upside from Q2 FY27.

Key takeaways

  1. Guidance Management expects 30% year-on-year growth next year from existing business, with margins better in Q4 and Q1 and real upside from Q2 FY27.
  2. Order book Order book ₹1,103 cr as of December 31, 2025; railway tenders moved out by a quarter, orders expected next quarter.
  3. Margin pressure EBITDA margin moderated 120 bps Y-o-Y on copper conductors plant investment and higher raw material input costs from supply chain disruptions.

Original filing on BSE

Hirect Limited Q1 FY27 results

As filed: Revenue ₹258 cr (+20% year on year), EBITDA ₹13.2 cr (−47% year on year), PAT ₹6.5 cr (−55% year on year), EBITDA margin 5.1% (−651 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹280 cr (+51% year on year), EBITDA ₹8.4 cr (−58% year on year), PAT −₹1.6 cr (−89% year on year), EBITDA margin 3.0% (−780 bps). Score 18 of 100, Below trend. EBITDA margin fell 780 bps year on year. Other income 127% of PBT. Tax rate 286%. Consolidated profit -116% but standalone +64%. Not enough history for a trend yet: scored on growth alone. Profit fell 91% from last quarter. Share price after the results: +20.0% in 30 days (Nifty 500: +1.6%).
  • Q3 FY26: Revenue ₹277 cr (+64% year on year), EBITDA ₹25.6 cr (+50% year on year), PAT ₹12.7 cr (+27% year on year), EBITDA margin 9.2% (−85 bps). Score 81 of 100, Above trend. EBITDA margin fell 85 bps year on year. Not enough history for a trend yet: scored on growth alone. Profit fell 15% from last quarter. Share price after the results: +1.0% in 30 days (Nifty 500: −9.9%).
  • Q2 FY26: Revenue ₹227 cr (+37% year on year), EBITDA ₹27.0 cr (+50% year on year), PAT ₹15.0 cr (+50% year on year), EBITDA margin 11.9% (+105 bps). Score 65 of 100, Above trend. Revenue growth was in line with the company's own trend; EBITDA and profit growth were below it. EBITDA margin rose 105 bps year on year. Revenue rose ₹61.0 cr on a year ago, more than the ₹34.0 cr it added the year before. Share price after the results: −17.8% in 29 days (Nifty 500: +1.4%).
  • Q1 FY26: Revenue ₹215 cr (+58% year on year), EBITDA ₹25.0 cr (+79% year on year), PAT ₹13.0 cr (+86% year on year), EBITDA margin 11.6% (+133 bps). Score 87 of 100, Above trend. Revenue growth was well above the company's own trend; EBITDA growth was above it; profit growth was below it. EBITDA margin rose 133 bps year on year. Profit lagged EBITDA because of depreciation, interest or other income, not the business. Revenue grew on the previous quarter, against its usual seasonal pattern. Profit rose ₹6.0 cr on a year ago, more than the ₹5.0 cr it added the year before. Share price after the results: −10.2% in 30 days (Nifty 500: −2.0%).
  • Q4 FY25: Revenue ₹185 cr (+23% year on year), EBITDA ₹20.0 cr (+43% year on year), PAT ₹10.0 cr (+100% year on year), EBITDA margin 10.8% (+154 bps). Score 54 of 100, In line with trend. Revenue growth was well below the company's own trend; EBITDA and profit growth were below it. EBITDA margin rose 154 bps year on year. Revenue rose ₹34.0 cr on a year ago, against ₹39.0 cr the year before. Share price after the results: +44.4% in 30 days (Nifty 500: +2.8%).
  • Q3 FY25: Revenue ₹169 cr (+23% year on year), EBITDA ₹17.0 cr (+31% year on year), PAT ₹10.0 cr (+300% year on year), EBITDA margin 10.1% (+57 bps). Score 35 of 100, Below trend. Revenue and EBITDA growth were well below the company's own trend. EBITDA margin rose 57 bps year on year. Revenue rose ₹32.0 cr on a year ago, against ₹40.0 cr the year before.
  • Q2 FY25: Revenue ₹166 cr (+26% year on year), EBITDA ₹18.0 cr (+64% year on year), PAT ₹10.0 cr (+150% year on year), EBITDA margin 10.8% (+251 bps). Score 91 of 100, Above trend. EBITDA margin rose 251 bps year on year. Not enough history for a trend yet: scored on growth alone.

Past price moves after results do not indicate future moves. Not a recommendation.

Hirect Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.