Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 285 | +6.7% YoY | Quarterly, as filed | Quarter to Mar 2026 | Revenue from operations as filed. |
| Operating margin | 7.0 | +2.0 pts YoY | Operating profit / revenue | Quarter to Mar 2026 | For the quarter; a change is in percentage points. |
| Net profit | 15.0 | +15.4% YoY | Quarterly, as filed | Quarter to Mar 2026 | Profit after tax as filed. |
| Return on equity | +42.5 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Free cash flow margin | +2.8 pts | Fiscal year | FY · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Revenue growth (YoY) | −303.9 pts | Trailing twelve months | TTM · period unavailable | Not in the analysed materials. No older figure is substituted. |
Guidance
3 of 4 judged targets kept · 5 open · verdicts reflect calls analysed to Q4 FY26.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| EBITDA Margin | 8% to 11% | Q4 FY25 | H2 FY26 margin was 7.4% and full year was 6.46%, beating the revised guidance of 3-5.5%. Management has now guided a wider range of 4% to 10% for FY27. | Achieved |
| Daily Gas Volume | 15,000 to 20,000 MMBTU per day | Q4 FY25 | The average daily gas volume for FY26 was 11,000 MMBTU/day, missing the target of 15,000 MMBTU/day for the year. | Missed |
| Daily Gas Volume (Long-term) | 25,000 to 30,000 MMBTU per day in 2-3 years | Q4 FY25 | Management revised the FY27 volume target down to 15,000 MMBTU/day, a reduction from the 20,000 MMBTU/day target mentioned in Q2 FY26. This slows progress towards the long-term goal. | Revised Down |
1 of Positron Energy's 9 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 6 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹378.25 on 24 Oct 2025 → ₹206.8. High ₹394 (29 Oct 2025), low ₹111.8 (30 Mar 2026).
Overview
close before → close after
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.
Guidance
3 of 4 judged targets kept · 5 open · verdicts reflect calls analysed to Q4 FY26.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| EBITDA Margin | 8% to 11% | Q4 FY25 | H2 FY26 margin was 7.4% and full year was 6.46%, beating the revised guidance of 3-5.5%. Management has now guided a wider range of 4% to 10% for FY27. | Achieved |
| Daily Gas Volume | 15,000 to 20,000 MMBTU per day | Q4 FY25 | The average daily gas volume for FY26 was 11,000 MMBTU/day, missing the target of 15,000 MMBTU/day for the year. | Missed |
| Daily Gas Volume (Long-term) | 25,000 to 30,000 MMBTU per day in 2-3 years | Q4 FY25 | Management revised the FY27 volume target down to 15,000 MMBTU/day, a reduction from the 20,000 MMBTU/day target mentioned in Q2 FY26. This slows progress towards the long-term goal. | Revised Down |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 9 tracked commitments, with each call’s wording and source.
Call summaries
Positron Energy Q4 FY26
Positron Energy reported strong financial performance for FY26, driven by significant growth in H2, with revenue up 31.27% and PAT up 12% year-on-year. The company successfully navigated supply disruptions caused by the West Asia War by securing alternate gas sources. Management outlined targets for FY27, aiming for 25-30% growth and an average daily gas volume of 15,000 MMBTU, while committing to maintain profitability.
Read the full callPositron Energy Q2 FY26
Positron Energy reported H1 FY26 revenue of ₹156.882 crores with an EBITDA margin of 4.74% and PAT of 3.19%. The company secured a significant long-term gas sales agreement for CY2026, valued at ₹378 crores, and aims to maintain future margins between 3% and 5.5% after H1 compression. Management addressed analyst concerns regarding execution and conservative guidance by highlighting ramp-up periods and the strategic focus on long-term contracts for sustainability.
Read the full callPositron Energy Q4 FY25
Positron Energy delivered a strong financial performance in FY25, with revenue surging to ₹336 crores and PAT increasing by 103%. The company, a debt-free natural gas aggregator and service provider, expanded its daily gas portfolio to 15,000-22,000 MMBTU in Q4 FY25 and holds an order book of ~₹65 crores. While management projects a 30-40% annual growth rate and aims for 25,000-30,000 MMBTU per day in 2-3 years, they maintain a conservative stance on doubling turnover and expect margins to remain within a set range, focusing on sustainable growth and strategic working capital management.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 4 fiscal years held (Mar 2021 to Mar 2024).
Financials
Net profit, year on year: +15% (quarter to mar 2026 against mar 2025).
| Line item | Sept 2023 | Mar 2024 | Sept 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Sales | 50 | 85 | 70 | 267 | 157 | 285 |
| Expenses | 47 | 76 | 63 | 253 | 154 | 266 |
| Operating profit | 3 | 9 | 7 | 14 | 3 | 19 |
| Operating margin | 6.0% | 11.0% | 9.0% | 5.0% | 2.1% | 7.0% |
| Other income | 0 | 1 | 0 | 2 | 4 | 2 |
| Interest | 0 | 0 | 0 | 1 | 0 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 3 | 9 | 6 | 16 | 7 | 20 |
| Tax rate | 29.0% | 25.0% | 25.0% | 17.0% | 28.0% | 25.0% |
| Net profit | 2 | 7 | 5 | 13 | 5 | 15 |
| EPS (₹ per share) | 55.62 | 12.32 | 6.25 | 17.16 | 6.58 | 19.79 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 0 | 0 | 6 | 8 | 8 | 8 |
| Reserves | 4 | 6 | 9 | 71 | 76 | 91 |
| Borrowings | 4 | 7 | 10 | 7 | 5 | 5 |
| Other liabilities | 2 | 12 | 16 | 29 | 36 | 24 |
| Total liabilities | 10 | 25 | 41 | 115 | 125 | 128 |
| Fixed assets | 2 | 2 | 2 | 2 | 2 | 2 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 8 | 23 | 39 | 113 | 123 | 126 |
| Total assets | 10 | 25 | 41 | 115 | 125 | 128 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Cash from operations | 1 | 5 | 7 | 7 | 20 |
| Cash from investing | -1 | -1 | 1 | -1 | -2 |
| Cash from financing | 0 | -1 | 2 | 42 | -3 |
| Net cash flow | 1 | 4 | 10 | 48 | 15 |
| Free cash flow | 0 | 5 | 7 | 4 | 14 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|
| Debtor days | 87 | 70 | 40 | 35 | 22 |
| Inventory days | 91 | 33 | 9 | 6 | 5 |
| Days payable | 25 | 64 | 16 | 29 | 7 |
| Cash conversion cycle | 153 | 39 | 32 | 12 | 20 |
| Working capital days | -35 | -25 | -11 | 9 | 6 |
| Return on capital employed | — | 31.0% | 64.0% | 42.0% | 30.0% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Ownership
Promoters hold 72.20% as of Mar 2026; institutions cut 1.21 pts since Sept 2025.
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 0 holders trimming and 2 off the list — both are in the register beside this.
Named in the Mar 2026 filing
Every holder of Positron Energy above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| 23.31% | unchanged | |
| 22.58% | unchanged | |
| 22.54% | unchanged | |
| VC / PE | 1.87% | newly disclosed |
| 1.50% | unchanged | |
| 1.49% | unchanged | |
| 1.05% | unchanged | |
| 0.78% | unchanged | |
| Foreign bank / ODI | — | off the list |
| FPI fund | — | 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.
Your own record
Free account: one company. Everything above stays public.
Write why you follow Positron Energy and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
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