Headline Numbers
In Q3FY26 (standalone), revenue from operations rose 31.4% year on year to ₹1,558.0 million. Reported EBITDA stood at ₹600.9 million with a margin of 38.6%, compared with 36.0% a year earlier. Profit after tax increased 40.1% year on year to ₹340.4 million, with margins improving to 21.8%.
For 9MFY26, revenue grew 31.8% year on year to ₹4,329.8 million. EBITDA rose 38.4% to ₹1,599.8 million, with margins expanding to 36.9%. Profit after tax climbed 55.3% to ₹970.3 million, translating into a margin of 22.4%.
Performance Overview
Growth in Q3FY26 was driven by strong momentum across both Energy & Oil & Gas and Aerospace & Defence segments, each reporting 33% year-on-year growth during the quarter. For the nine-month period, topline expansion of 31.8% was supported by capacity additions and completion of first article inspections.
EBITDA margin expansion during both Q3 and 9MFY26 reflects operating leverage, as per disclosed figures. The company reports higher employee costs due to expansion of new facilities and increased headcount, while depreciation rose on account of capacity additions. Finance costs increased following additional borrowings to support growth. As of December 2025, net debt stood at ₹1,575 million.
Forward-Looking Commentary
The presentation reiterates a targeted 30% topline growth for FY26. Management highlights focus on execution of the GTRE project in 2026, deepening global OEM partnerships, and advancing strategic investments. No additional numerical guidance ranges are disclosed.
Other Reported Financial Details
- Q3FY26 standalone EBITDA margin: 38.6% (vs 36.0% YoY).
- 9MFY26 standalone EBITDA margin: 36.9% (vs 35.2% YoY).
- 9MFY26 standalone PAT margin: 22.4% (vs 19.0% YoY).
- FY25 standalone revenue from operations: ₹4,529.3 million; PAT: ₹885.3 million (19.5% margin).
- FY25 consolidated revenue: ₹4,573.5 million; PAT: ₹865.3 million (18.9% margin).