ENVIRO
Envirotech Systems financials
- Market cap
- ₹128 Cr
- Sector
- Capital Goods
- Calls analysed
- 3
ENVIRO Q4 FY26
What went well
- Revenue from operations grew by 20.95% YoY to INR 57.58 crores in FY26, up from INR 47.61 crores in FY25.
- PAT excluding other income increased from INR 9.41 crores in FY25 to INR 11.29 crores in FY26, underscoring underlying operational strength.
- Achieved CBRI certification for fire-rated doors, positioning the company for high-volume orders in commercial and high-rise segments.
What to watch
- Overall PAT declined to INR 12.11 crores in FY26 from INR 14.06 crores in FY25, primarily due to the absence of a one-time property sale income of INR 3.88 crores in the prior year.
- Experienced a slight delay in receiving necessary permissions for the full operationalization of the expanded facility.
What Envirotech Systems Ltd does
Envirotech Systems designs and manufactures acoustic and noise-control products — anechoic chambers, acoustic enclosures, engine test cells, noise barriers, acoustic doors and wall/ceiling panels — for industrial and commercial customers, including defence-sector orders. It also supplies commercial-segment acoustic solutions such as studio, auditorium, cinema, hospitality and educational soundproofing. The company has diversified into a B2C line of soundproof doors and windows under the brand Envirotech Mute, building a pan-India distribution network. Manufacturing is based in Noida and Greater Noida, where the company operates multiple plants including a newly acquired facility equipped with laser-cutting, CNC and automated molding machinery.
Segments
- Industrial
- Commercial
- B2C — Envirotech Mute
- Manufacturing plants
- 3 plants (Plant I–III, Noida/Greater Noida) plus corporate office
- Newest facility
- 100,000 sq ft (D-3 Unit, Kasna Industrial Area, Greater Noida) — partially operational since Jul 2025
- Employees
- 139+
- Business segments
- 3 (Industrial, Commercial, B2C — Envirotech Mute)
- Product lines
- 40+ acoustic products across Industrial & Commercial segments
- First manufacturing plant established
- 2009 (Noida)
Guidance record · Q4 FY26
what the last two calls moved 9 tracked 1 delivered 3 missed 5 open- Margin delivered said Q4 FY25 Promised: Margins would surely fall by around 5% to 8% compared to our earlier margins (29.5%) Q4 FY26: Achieved. FY26 PAT margin was 21.03%, a fall of ~8.5 percentage points from the 29.5% baseline, which is in line with the guided fall of 5-8%.
- Revenue missed said Q4 FY25 Promised: reaching around Rs.100 crores this year Q4 FY26: Missed. FY26 revenue came in at Rs. 57.58 crores, significantly below the guided Rs. 100 crores.
- Capacity delayed said Q4 FY25 Promised: Partial capacity by June, full capacity by December '25 Q4 FY26: Full operationalization delayed beyond the Dec '25 target due to pending permissions. Management now expects it to be fully functional within FY27.
All 9 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q4 FY26: revenue up 14.3%, net profit down 33.3% against the same quarter last year.
| Line item | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|
| Revenue | 19 | 28 | 16 | 31 | 26 +37% | 32 +14% |
| EBITDA | 3 | 13 | 4 | 11 | 9 +200% | 10 −23% |
| Net profit | 2 | 9 | 3 | 11 | 6 +200% | 6 −33% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −57.8% 1Y
1Y: ₹161.55 on 10 Sept 2025 → ₹68.25. High ₹165 (18 Sept 2025), low ₹68.25 (11 Sept 2026).
How the price took the results
close before → close after
- Q4 FY26
- −10.5%
- 30 May
- Q2 FY26
- −0.7%
- 11 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹1 Cr | ₹1 Cr | ₹1 Cr | ₹13 Cr | ₹19 Cr | ₹19 Cr |
| Reserves | ₹2 Cr | ₹4 Cr | ₹6 Cr | ₹6 Cr | ₹51 Cr | ₹57 Cr |
| Borrowings | ₹5 Cr | ₹5 Cr | ₹9 Cr | ₹9 Cr | ₹15 Cr | ₹14 Cr |
| Other liabilities | ₹3 Cr | ₹4 Cr | ₹7 Cr | ₹10 Cr | ₹10 Cr | ₹12 Cr |
| Total liabilities | ₹11 Cr | ₹14 Cr | ₹23 Cr | ₹39 Cr | ₹95 Cr | ₹102 Cr |
| Fixed assets | ₹3 Cr | ₹4 Cr | ₹10 Cr | ₹10 Cr | ₹28 Cr | ₹44 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹14 Cr | ₹1 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹8 Cr | ₹10 Cr | ₹13 Cr | ₹29 Cr | ₹53 Cr | ₹57 Cr |
| Total assets | ₹11 Cr | ₹14 Cr | ₹23 Cr | ₹39 Cr | ₹95 Cr | ₹102 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2026
Since Mar 2025, the public added +1.59 pp while FIIs trimmed −0.90 pp. The shareholder count grew 50% to 1,425.
- Promoters
- 68.8%
- FIIs
- 2.0%
- Public
- 29.2%
Since Mar 2025
- Public +1.59 pp
- FIIs −0.90 pp
- DIIs −0.79 pp
How it drifted, 4 quarters
Over this window DIIs fell from 7.0% to 0.0% — −7.0 pp.
Ownership split by quarter, oldest first. Sep '24: Promoters 68.8%, FIIs 1.3%, DIIs 7.0%, Public 22.9%.Mar '25: Promoters 68.8%, FIIs 2.9%, DIIs 0.8%, Public 27.6%.Sep '25: Promoters 68.8%, FIIs 1.8%, Public 29.4%.Mar '26: Promoters 68.8%, FIIs 2.0%, Public 29.2%.
Who bought this quarter
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Sindhu Gupta +0.07 pp 20.13% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Envirotech Systems Ltd above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Manoj Kumar Gupta | 48.72% | unchanged |
| Sindhu Gupta | 20.13% | +0.07 pp |
| Abundantia Capital Vcc- Abundantia Capital Iii VC / PE | 1.39% | unchanged |
| Setu Securities Private Limited | 1.33% | unchanged |
| Savishesh Raj | 1.30% | unchanged |
| Marwadi Shares and Finance Limited | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
What the price assumes
- Growth the price implies
- -11.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
All earnings calls (3)
Read the Q4 FY26 call →Learn to analyse Envirotech Systems Ltd
Guides on how to read this kind of business and the numbers that matter.