QUADFUTURE
Quadrant Future Tek share price & financials
- Price
- ₹405
- Market cap
- ₹1.9k Cr
- Sector
- Capital Goods
- Calls analysed
- 1
Quadrant Future Q1 FY26
What went well
- Operational revenue for Q1 FY26 stood at ₹28.7 crores, marking an increase of 12% on a YoY basis.
- EBITDA for Q1 FY26 was approximately 8.9%, an improvement from 7.3% during the same period in the last financial year.
- The company secured ambitious Kavach orders totaling ₹984 crores (₹829 crores for 1,200 locomotives and ₹155 crores for trackside systems).
What to watch
- The Train Signalling (Kavach) division's segment loss increased from ₹4.24 crores in Q1 FY25 to ₹10.09 crores in Q1 FY26, due to increased costs for team building and technical expenses.
- Revenue contribution from the Kavach Division was nil in Q1 FY26 as the project is pending rollout clearance.
What Quadrant Future Tek Limited does
Quadrant Future Tek operates two businesses from a backward-integrated manufacturing base in Basma, Mohali (Punjab): a Specialty Cables division that manufactures electron-beam irradiated cables for railways, defence, submarines, solar and EV applications, and a Train Control and Signalling division that designs, manufactures and installs KAVACH (India's indigenous Automatic Train Protection system) hardware and software for Indian Railways. It earns by selling cables to public-sector (Railways/Defence PSU) and private-sector customers, and by supplying and installing KAVACH trackside and onboard equipment under RDSO-approved contracts, with an exclusive MoU with RailTel to jointly market and implement KAVACH domestically and internationally.
Segments
- Specialty Cables
- Train Control and Signalling (KAVACH)
- Train control (KAVACH) installed manufacturing capacity
- ~2,200 locomotive sets and ~4,500 station units per annum
- Specialty Cables installed manufacturing capacity
- ~1,900 MT per annum
- Manufacturing facility footprint
- 4.8 acres land, 60,000 sq ft building at Basma, Mohali, Punjab
- R&D and engineering team
- 50+ engineers and domain specialists across Bengaluru and Hyderabad engineering centres
- Regulatory approvals and certifications held
- RDSO, DGQA, BIS, CENELEC SIL-4, IATF
- KAVACH vendor status
- One of a limited pool of RDSO-approved vendors for KAVACH implementation on Indian Railways
Guidance record · Q1 FY26
what the last two calls moved 4 tracked 0 delivered 0 missed 4 open- Kavach Order Completion Timeline open said Q1 FY26 Promised: by 11th December 2025 Q1 FY26: this particular purchase order was awarded to us on 12th December 2024 with the condition that this has to be completed by 11th December 2025.
All 4 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 41.3%, net profit up 32.4% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 40 | 27 | 58 | 29 | 34 −13% | 33 +23% | 57 −3% | 41 +41% |
| EBITDA | 3 | -2 | 1 | -10 | -13 −507% | -11 −498% | -6 −572% | -3 +67% |
| Net profit | -4 | -8 | 2 | -13 | -16 −346% | -15 −74% | 1 −28% | -9 +32% |
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 +6.1% 1Y
1Y: ₹450.9 on 10 Sept 2025 → ₹478.5. High ₹478.5 (11 Sept 2026), low ₹252.65 (18 Dec 2025).
Financials, as filed
Revenue grew 1.6% a year over 1 year, FY25 to FY26. Operating margin narrowed to -25.7%.
| Year ending | FY25 | FY26 |
|---|---|---|
| Revenue | ₹151 Cr | ₹153 Cr |
| Operating profit | ₹0 Cr | ₹-39 Cr |
| Operating margin | 0.2% | -25.7% |
| Interest | ₹8 Cr | ₹3 Cr |
| Depreciation | ₹21 Cr | ₹19 Cr |
| Net profit | ₹-20 Cr | ₹-43 Cr |
| Net margin | -13.1% | -28.1% |
| Cash from operations | ₹-72 Cr | ₹-86 Cr |
| Free cash flow | ₹-79 Cr | ₹-95 Cr |
| ROCE | -7.0% | -15.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹40 Cr | ₹40 Cr |
| Reserves | ₹4 Cr | ₹6 Cr | ₹19 Cr | ₹37 Cr | ₹230 Cr | ₹218 Cr |
| Borrowings | ₹41 Cr | ₹81 Cr | ₹74 Cr | ₹82 Cr | ₹25 Cr | ₹24 Cr |
| Other liabilities | ₹4 Cr | ₹16 Cr | ₹15 Cr | ₹18 Cr | ₹35 Cr | ₹39 Cr |
| Total liabilities | ₹59 Cr | ₹113 Cr | ₹119 Cr | ₹146 Cr | ₹330 Cr | ₹321 Cr |
| Fixed assets | ₹18 Cr | ₹20 Cr | ₹21 Cr | ₹83 Cr | ₹69 Cr | ₹61 Cr |
| Capital work in progress | ₹6 Cr | ₹33 Cr | ₹48 Cr | ₹0 Cr | ₹0 Cr | ₹2 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹34 Cr | ₹60 Cr | ₹49 Cr | ₹63 Cr | ₹262 Cr | ₹258 Cr |
| Total assets | ₹59 Cr | ₹113 Cr | ₹119 Cr | ₹146 Cr | ₹330 Cr | ₹321 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 Jun 2026
Since Jun 2025, the public added +4.43 pp while DIIs trimmed −3.93 pp. The shareholder count shrank 17% to 35,257.
- Promoters
- 70.0%
- FIIs
- 1.9%
- DIIs
- 2.1%
- Public
- 26.1%
Since Jun 2025
- Public +4.43 pp
- DIIs −3.93 pp
- FIIs −0.49 pp
How it drifted, 6 quarters
Over this window the public went from 19.4% to 26.1% — +6.7 pp.
Ownership split by quarter, oldest first. Mar '25: Promoters 70.0%, FIIs 2.3%, DIIs 8.3%, Public 19.4%.Jun '25: Promoters 70.0%, FIIs 2.3%, DIIs 6.0%, Public 21.6%.Sep '25: Promoters 70.0%, FIIs 1.6%, DIIs 4.7%, Public 23.7%.Dec '25: Promoters 70.0%, FIIs 0.0%, DIIs 3.1%, Public 26.9%.Mar '26: Promoters 70.0%, FIIs 0.0%, DIIs 1.7%, Public 28.3%.Jun '26: Promoters 70.0%, FIIs 1.9%, DIIs 2.1%, Public 26.1%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Kotak Mahindra Trustee Co Ltd A/C Kotak Manufacture In India Fund Mutual fund +0.55 pp 1.55% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Quadrant Future Tek Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Rupinder Singh | 13.50% | unchanged |
| Amrit Singh Randhawa | 9.84% | unchanged |
| Mohit Vohra | 8.75% | unchanged |
| Amit Dhawan | 8.75% | unchanged |
| Vivek Abrol | 6.36% | unchanged |
| Vishesh Abrol | 5.43% | unchanged |
| Mohan Krishan Abrol | 5.02% | unchanged |
| Rajbir Singh Randhawa | 4.10% | unchanged |
| Aikjot Singh Sandhu | 3.75% | unchanged |
| Swinder Kaur | 2.23% | unchanged |
| Suryavanshi Commotrade Private Limited | 1.91% | unchanged |
| Bengal Finance And Investment Pvt Ltd | 1.55% | unchanged |
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.
Learn to analyse Quadrant Future Tek Limited
Guides on how to read this kind of business and the numbers that matter.