| Revenue Growth | 80% YoYFY26 Consolidated |
|---|---|
| Order Book | ₹1,304 CrRecord High |
| Market Cap | ₹2,386.89 CrConsumer Durables |
| ROE | 18.59%Annual |
Key highlights
- Consolidated revenue reached ₹714.52 crore in FY26, representing an 80% growth over the previous fiscal year.
- The total order book hit an all-time high of ₹1,304 crore, marking a 159% increase compared to FY25.
- Management announced a capital expenditure plan of ₹300-350 crore for FY27 to scale BESS and electrolyser plants.
- The company delivered its 100MW Phase 1 electrolyser capacity, significantly beating its original 10MW guidance.
- Renewable energy segment contribution is projected to rise to 35% of total revenue in the near term.
Financial Performance
Advait Energy Transitions reported record consolidated revenue of ₹714.52 crore for the full year ending March 2026, supported by strong execution across its transmission and renewable segments. Net profit for the period reached ₹58.08 crore, a 75% increase from the prior year. While EBITDA grew 64% to ₹83.78 crore, consolidated margins stood at 11.7%, which remained slightly below the management's upper guidance range.
The company continues to manage heavy working capital requirements, which impacted operating cash flows despite the high profitability recorded during the year.
Management Outlook
Management has guided for continued momentum in FY27, targeting revenue growth of over 40% alongside a 100-basis point improvement in operating margins. The growth strategy is anchored by a massive ₹300-350 crore capex program designed to transition the company into a high-tech energy solutions provider. Funding for these expansions is expected to come from a combination of internal accruals, debt, and equity.
The primary focus for the next 12 months is the operationalization of the 2.5GWh Battery Energy Storage Systems (BESS) plant by the end of the second quarter.
Business Overview
The company is evolving from its traditional roots in Power Transmission Solutions (PTS) towards a New Renewable Energy (NRE) focused model. Currently, power transmission accounts for 64% of the order book, while renewables make up 36%. Advait produces critical components such as Optical Ground Wire (OPGW) and conductors and is now expanding into electrolysers and fuel cell manufacturing.
This strategic pivot aims to capture value in the high-growth green hydrogen ecosystem, moving beyond pure engineering, procurement, and construction services into proprietary technology manufacturing.
Sector Dynamics
The energy transition sector in India is entering what management describes as a golden era, driven by grid modernization and aggressive renewable targets. Positive regulatory shifts, including new ALMM solar guidelines, are expected to favor domestic manufacturers like Advait. The company has successfully secured approvals from over 10 utility boards, enhancing its visibility for future contracts.
However, the sector remains sensitive to volatile metal and commodity prices, which can create pressure on segments where price pass-through clauses are not standard, such as the OPGW manufacturing business.
What to Watch
- Commissioning and ramp-up of the 2.5GWh BESS plant by October 2026.
- Ability to improve consolidated EBITDA margins by 100bps as guided for FY27.
- Efficiency in managing working capital cycles relative to the large ₹1,304 crore order book.
- The impact of ALMM solar guidelines on order inflow for the renewable energy segment.
“Management cites golden era in energy transition sector.”
| Share price | ₹2181.2 |
|---|---|
| Market capitalisation | ₹2,386.89 Cr |
| Revenue (annual) | ₹714.52 Cr |
| Net profit (annual) | ₹51.72 Cr |
| Revenue (latest quarter) | ₹228.20 Cr+8.14% vs previous quarter |
| Net profit (latest quarter) | ₹17.67 Cr+6.49% vs previous quarter |
| P/E (TTM) | 44.9×Sector 47.79× |
| Promoter holding | 66.8%0.00% QoQ |
| FII holding | 0.21%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Advait Energy Transitions Ltd announcing its FY26 annual financial results and investor presentation. Market figures from a third-party data provider.
