SHILCTECH

Shilchar Technologies share price & financials

Price
₹4,413.9
Market cap
₹4.4k Cr
Sector
Capital Goods
Calls analysed
2
Latest concall · Q1 FY27 · call held 14 Aug 2026

Shilchar Technologies Limited Q1 FY27

Revenue from Operations ₹134.6 cr EBITDA ₹29.23 cr EBITDA Margin 21.72% Profit After Tax ₹20.86 cr

What went well

  • Management reiterated confidence in achieving the FY27 revenue target of ₹800 crores, stating they are on track.
  • Strong order book of nearly ₹500 crores provides good visibility for Q2, Q3, and Q4 FY27.
  • The Phase-3 capacity expansion, adding 6,500 MVA, is progressing as planned with commissioning expected in April 2027, poised to drive future growth.

What to watch

  • Q1 FY27 commenced on a softer note, with revenue from operations at ₹134.60 crores, impacted by the West Asia crisis.
  • Increased shipping costs (3-5 times higher for some geographies) led to slower export dispatches and deferment of orders.
Read the full call →

What Shilchar Technologies Limited does

Shilchar Technologies designs and manufactures power, distribution and specialised transformers — including inverter-duty units for solar, generator transformers for wind, hydro transformers and furnace transformers — at its flagship facility in Gavasad, near Vadodara, Gujarat. It follows a made-to-order, assembly-focused manufacturing model, keeping design, winding and other critical processes in-house while outsourcing lower value-add components such as tanks and radiators. The company sells to utilities, large EPC players and industrial customers in sectors such as steel, cement, sugar, hydrocarbon and oil & gas, as well as private-sector corporates, across both domestic and export markets, with transformers currently produced up to 132 kV class and 220 kV class capability under development.

Segments

  • Power & Distribution Transformers
Existing installed capacity
7,500 MVA
Capacity expansion underway
Additional 6,500 MVA new facility (taking total to 14,000 MVA), commissioning targeted April 2027
Employees at flagship facility
475+
Flagship facility land parcel
17-acre plot at Gavasad, Vadodara
Built-up manufacturing area
1.6 lakh sq. ft. existing, plus 1.1 lakh sq. ft. under construction
Export footprint
25+ countries across 5 continents
Founded 1986Headquarters Near Muval Sub Station, Padra Jambusar Highway, Gavasad, Vadodara – 391430, Gujarat, India Company website

Guidance record · Q1 FY27

what the last two calls moved 7 tracked 0 delivered 0 missed 7 open
  • FY27 EBITDA Margin at risk said Q4 FY26 Promised: Maintain or improve on FY26 margin of 29% Q1 FY27: Q1 EBITDA margin was 21.72%, significantly below the 29% target. Management attributed this to a lower export mix and raw material cost pressures, but expects improvement in subsequent quarters. Achieving the full-year target now requires an average margin of over 31% for the remaining three quarters.
  • FY27 Revenue on track said Q4 FY26 Promised: INR 800-850 crores for FY27 Q1 FY27: Despite a soft Q1 revenue of ₹134.6 Cr, management reiterated confidence in achieving the target. Quote: 'for FY27, we are on track with, you know, whatever we have targeted in terms of the top line. And we don't anticipate any problem in achieving that.' The required run-rate for the next 3 quarters is high at ~₹222 Cr/quarter.

All 7 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue down 15.1%, net profit down 48.8% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue131 154 232 159 171 +31%170 +10%152 −34%135 −15%
EBITDA41 43 71 52 54 +32%52 +21%32 −55%22 −58%
Net profit33 35 55 41 46 +39%42 +20%28 −49%21 −49%
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 +9.0% YTD

₹3.0k₹3.5k₹4.0k₹4.5k₹5.0k₹5.5kJanFebMarAprMayJunJulAugSeptQ4 FY26 — 5 May 2026Q1 FY27 — 14 Aug 2026

YTD: ₹3,830.3 on 1 Jan 2026 → ₹4,174.4. High ₹5,311.6 (27 Apr 2026), low ₹2,923.4 (27 Jan 2026).

How the price took the results

close before → close after

Q1 FY27
−1.3%
14 Aug
Q4 FY26
−6.1%
5 May

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.

Financials, as filed

Revenue grew 28.3% a year over 2 years, FY24 to FY26. Operating margin widened to 29.1%.

Year endingFY24FY25FY26
Revenue₹396 Cr₹624 Cr₹652 Cr
Operating profit₹113 Cr₹184 Cr₹190 Cr
Operating margin28.5%29.5%29.1%
Interest₹0 Cr₹0 Cr₹0 Cr
Depreciation₹4 Cr₹4 Cr₹4 Cr
Net profit₹91 Cr₹147 Cr₹157 Cr
Net margin23.0%23.6%24.1%
Cash from operations₹76 Cr₹40 Cr₹192 Cr
Free cash flow₹66 Cr₹21 Cr₹169 Cr
ROCE75.0%71.0%51.0%
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 endingFY21FY22FY23FY24FY25FY26
Equity capital₹4 Cr₹4 Cr₹4 Cr₹8 Cr₹11 Cr₹11 Cr
Reserves₹63 Cr₹76 Cr₹118 Cr₹202 Cr₹408 Cr₹479 Cr
Borrowings₹8 Cr₹17 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Other liabilities₹33 Cr₹49 Cr₹56 Cr₹83 Cr₹92 Cr₹100 Cr
Total liabilities₹107 Cr₹146 Cr₹178 Cr₹292 Cr₹512 Cr₹591 Cr
Fixed assets₹37 Cr₹36 Cr₹39 Cr₹41 Cr₹59 Cr₹69 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹5 Cr₹0 Cr₹6 Cr
Investments₹1 Cr₹0 Cr₹7 Cr₹20 Cr₹141 Cr₹202 Cr
Other assets₹69 Cr₹110 Cr₹132 Cr₹227 Cr₹311 Cr₹313 Cr
Total assets₹107 Cr₹146 Cr₹178 Cr₹292 Cr₹512 Cr₹591 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, promoters trimmed −1.89 pp while DIIs added +1.82 pp. The shareholder count grew 2% to 43,353.

Promoters
62.1%
FIIs
2.6%
DIIs
1.9%
Public
33.4%

Since Jun 2025

  • Promoters −1.89 pp
  • DIIs +1.82 pp
  • FIIs +0.45 pp

How it drifted, 12 quarters

Over this window promoters fell from 65.8% to 62.1% — −3.7 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 65.8%, FIIs 1.0%, Government 0.5%, Public 32.6%.Dec '23: Promoters 64.0%, FIIs 3.2%, Government 0.5%, Public 32.3%.Mar '24: Promoters 64.0%, FIIs 3.5%, Government 0.5%, Public 31.9%.Jun '24: Promoters 64.0%, FIIs 3.1%, DIIs 0.0%, Government 0.5%, Public 32.4%.Sep '24: Promoters 64.0%, FIIs 3.2%, DIIs 0.0%, Government 0.5%, Public 32.2%.Dec '24: Promoters 64.0%, FIIs 2.3%, DIIs 0.1%, Government 0.5%, Public 33.1%.Mar '25: Promoters 64.0%, FIIs 2.0%, DIIs 0.1%, Government 0.5%, Public 33.3%.Jun '25: Promoters 64.0%, FIIs 2.1%, DIIs 0.1%, Public 33.7%.Sep '25: Promoters 64.0%, FIIs 2.7%, DIIs 0.3%, Public 32.9%.Dec '25: Promoters 62.1%, FIIs 2.8%, DIIs 1.5%, Public 33.6%.Mar '26: Promoters 62.1%, FIIs 2.5%, DIIs 1.9%, Public 33.4%.Jun '26: Promoters 62.1%, FIIs 2.6%, DIIs 1.9%, Public 33.4%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Shilchar Technologies Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Alay Jitendra Shah 23.68%unchanged
Shilpa Alay Shah 10.54%unchanged
Aashay Alay Shah 10.34%unchanged
Aatman Alay Shah 10.34%unchanged
Alay Jitendra Shah Huf 7.21%unchanged
Raju Kirti Shah 4.96%unchanged
Ravi Kirti Shah 4.96%unchanged
Amicorp Capital (Mauritius) Limited FPI fund1.36%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.

What the price assumes

Attractive

To justify its price of ₹4174, this stock must grow earnings at 24% every year for 7 years. Our analysis caps realistic growth at ~31%. At that growth it is worth ₹5857 — upside of 40%.

Growth the price implies
24.1% a year
for 7 years, fading to 4%
It has actually compounded at
31.3% a year
net profit, FY24–FY26 · EPS 31.0%
The gap
-0.1 pp
40% downside if it only repeats history
Price today ₹4,174.4 Value at the reference growth ₹5,857.27

Change the assumptions yourself →

All earnings calls (2)

Read the Q1 FY27 call →

Learn to analyse Shilchar Technologies Limited

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