Kolkata-based rental provider of heavy infrastructure equipment - crawler, truck-mounted and all-terrain cranes, piling rigs and manlifters up to 750MT - to steel, power, railways, ports and renewable-energy project sites across India.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 15.5 | +133.2% YoY | Quarterly, as filed | Quarter to Sept 2026 | Revenue from operations as filed. |
| Operating margin | 60.9 | +1.9 pts YoY | Operating profit / revenue | Quarter to Sept 2026 | For the quarter; a change is in percentage points. |
| Net profit | 5.2 | +222.4% YoY | Quarterly, as filed | Quarter to Sept 2026 | Profit after tax as filed. |
| Return on equity | 24.98 | +6.6 pts | Trailing twelve months | TTM to Sept 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | -200.00 | −198.5 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 227.94 | +163.1 pts | Trailing twelve months | TTM to Sept 2026 | Revenue change against the same period one year earlier. |
Guidance
4 of 6 judged targets kept · 15 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| FY26 CapEx | INR 100 crores | Q3 FY25 | Promise period has ended. Final status is achieved. | Achieved |
| Annual Run Rate (ARR) | INR 22 to INR 24 crores | Q4 FY25 | The specific ARR metric was not mentioned again; focus remains on the full-year FY27 revenue target. | Ghosted |
| Revenue from single client | under 25% | Q4 FY25 | No data provided on client concentration levels, despite discussion of international expansion with existing clients. | At Risk |
2 of Trishakti Industries Limited's 21 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 18 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: ₹149.4 on 24 Oct 2025 → ₹291.25. High ₹291.25 (27 Oct 2026), low ₹124.9 (19 Mar 2026).
Overview
Based on the company's own presentations, annual report and earnings calls.
Trishakti Industries Limited hires out heavy earth-moving and lifting equipment - crawler cranes, truck-mounted cranes, all-terrain cranes, piling rigs and manlifters/boomlifters - on rental to large infrastructure and industrial projects. It owns the fleet outright and deploys it under long-term, execution-linked contracts with clients in steel, power, railways, oil & gas, ports and renewable energy, earning rental/hiring income rather than selling equipment. Originally a diversified electronics and trading company founded in 1985, it exited its legacy businesses after a 2023 change in management and re-focused entirely on infrastructure equipment rental. It has one unlisted subsidiary, Trishakti Capital Limited.
Segments
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
4 of 6 judged targets kept · 15 open · verdicts reflect calls analysed to Q1 FY27.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| FY26 CapEx | INR 100 crores | Q3 FY25 | Promise period has ended. Final status is achieved. | Achieved |
| Annual Run Rate (ARR) | INR 22 to INR 24 crores | Q4 FY25 | The specific ARR metric was not mentioned again; focus remains on the full-year FY27 revenue target. | Ghosted |
| Revenue from single client | under 25% | Q4 FY25 | No data provided on client concentration levels, despite discussion of international expansion with existing clients. | At Risk |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 21 tracked commitments, with each call’s wording and source.
Call summaries
Trishakti Indus Q1 FY27
Trishakti Industries Limited reported a robust Q1 FY27, with total income surging 310% YoY to ₹16.8 crores and PAT reaching ₹4.30 crores. The company maintained a strong 65% EBITDA margin and achieved 100% fleet utilization. Strategic initiatives include entry into the wind energy segment and international expansion into UAE and KSA, with a significant CapEx plan underway.
Read the full callTrishakti Indus Q4 FY26
Trishakti Industries Limited reported a transformative Q4 FY26, with significant revenue and EBITDA growth driven by a strategic shift to an infrastructure equipment rental platform. The company rapidly expanded its fleet to over 140 machines with high utilization, deploying INR 210 crores in CapEx. While strong financial performance was highlighted, concerns were raised regarding high receivable days, which management expects to normalize, and increased operating expenses due to rapid expansion.
Read the full callTrishakti Indus Q3 FY26
Trishakti Industries reported exceptional Q3 FY26 results, driven by robust demand in renewable energy and infrastructure, leading to significant revenue and profit growth. The company aggressively deployed CapEx, exceeding its annual target, and expanded its fleet. While facing questions on receivables and client concentration, management provided explanations and outlined a positive outlook for continued growth and margin stability.
Read the full callEvery analysed call
Fundamentals
Current values with the period they cover; the trend reads across the 4 fiscal years held (Mar 2023 to Mar 2026).
Financials
Net profit, year on year: +222% (quarter to sept 2026 against sept 2025).
| Line item | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sept 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 2 | 2 | 4 | 7 | 8 | 9 | 14 | 16 |
| Expenses | 1 | 1 | 1 | 3 | 2 | 6 | 6 | 6 |
| Operating profit | 1 | 1 | 3 | 4 | 6 | 3 | 8 | 9 |
| Operating margin | 68.6% | 53.2% | 66.2% | 59.0% | 70.1% | 37.2% | 58.8% | 60.9% |
| Other income | 0 | 1 | 0 | 0 | -0 | 5 | 2 | 3 |
| Interest | 1 | 0 | 1 | 1 | 1 | 1 | 2 | 2 |
| Depreciation | 0 | 1 | 1 | 1 | 2 | 3 | 4 | 4 |
| Profit before tax | 0 | 1 | 1 | 2 | 3 | 3 | 5 | 7 |
| Tax rate | 48.0% | −40.9% | 24.8% | 25.5% | 10.9% | 20.6% | 20.0% | 20.3% |
| Net profit | 0 | 2 | 1 | 2 | 2 | 3 | 4 | 5 |
| EPS (₹ per share) | 0.08 | 1.10 | 0.56 | 0.99 | 1.49 | 1.63 | 2.61 | 3.07 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 18 | 105 | 16 | 28 |
| Expenses | 19 | 106 | 11 | 12 |
| Operating profit | -1 | -1 | 5 | 16 |
| Other income | 2 | 2 | 1 | 5 |
| Interest | 0 | 0 | 1 | 4 |
| Depreciation | 0 | 0 | 1 | 7 |
| Profit before tax | 1 | 1 | 4 | 10 |
| Net profit | 1 | 1 | 4 | 8 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 | Sept 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves | 7 | 8 | 23 | 33 | 41 | 55 |
| Borrowings | 0 | 3 | 33 | 45 | 85 | 112 |
| Other liabilities | 1 | 4 | 9 | 69 | 159 | 229 |
| Total liabilities | 11 | 18 | 68 | 150 | 289 | 400 |
| Fixed assets | 1 | 1 | 36 | 76 | 189 | 231 |
| Capital work in progress | 0 | 0 | 1 | 25 | 26 | 78 |
| Investments | 4 | 4 | 9 | 7 | 9 | 8 |
| Other assets | 7 | 13 | 21 | 42 | 65 | 83 |
| Total assets | 11 | 18 | 68 | 150 | 289 | 400 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 1 | 0 | 2 | -2 | 4 | 129 |
| Cash from investing | 0 | 1 | -1 | -1 | -44 | -182 |
| Cash from financing | 0 | 0 | 0 | 2 | 41 | 57 |
| Net cash flow | 0 | 0 | 0 | -1 | 1 | 5 |
| Free cash flow | 0 | -1 | 1 | -2 | -34 | -55 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 0 | 9 | 37 | 19 | 253 | 265 |
| Inventory days | — | 39 | 88 | 25 | 6 | — |
| Days payable | — | 0 | 0 | 0 | 0 | — |
| Cash conversion cycle | 0 | 48 | 126 | 43 | 260 | 265 |
| Working capital days | 2808 | 94 | 112 | 29 | 14 | -1534 |
| Return on capital employed | 3.0% | 7.0% | 7.0% | 8.0% | 16.0% | 15.0% |
| Dividend payout | 88.0% | 29.0% | 44.0% | 44.0% | 7.0% | 4.0% |
Ownership
Promoters hold 67.27% as of Sept 2026; institutions added 0.65 pts since Jun 2026.
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
The same filing shows 6 holders trimming and 0 off the list — both are in the register beside this.
Named in the Sep 2026 filing
Every holder of Trishakti Industries Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 24.20% | −0.61 pp | |
| 12.50% | −0.32 pp | |
| 10.81% | −0.28 pp | |
| 10.72% | −0.27 pp | |
| 4.49% | −0.11 pp | |
| 4.18% | −0.11 pp | |
| 1.36% | newly disclosed | |
| Corporate | 1.24% | unchanged |
| 0.36% | 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.
Your own record
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