FY26 results roundup: Quality Power, Yash HV, GK Energy, Crompton Greaves, Dynamic Cables

Several companies in the power equipment, renewable energy and cable manufacturing segments reported strong FY2025-26 financial performance, supported by rising infrastructure demand, renewable energy expansion and transmission sector investments.

Quality Power Electrical Equipments — Revenue crosses Rs 1,000 crore

Quality Power Electrical Equipments Limited reported consolidated revenue of Rs 1,007 crore for FY2025-26, marking a 156.9% year-on-year increase and the first time the company has crossed the Rs 1,000 crore revenue milestone.

Full-year EBITDA rose 97.8% to Rs 236.2 crore, while profit after tax (PAT) increased 85.3% to Rs 185.5 crore. Fourth quarter revenue stood at Rs 309.8 crore, up 138.5% year-on-year, with EBITDA at Rs 59.3 crore.

The company ended the year with an order book exceeding Rs 1,400 crore, equivalent to around 1.4 times annual revenue. Orders were secured across High Voltage Direct Current (HVDC), Flexible AC Transmission Systems (FACTS), Battery Energy Storage Systems (BESS) and data centre projects, including inter-regional HVDC links in India, multi-terminal Voltage Source Converter (VSC) projects in Australia and FACTS projects across the Americas, Europe, the Middle East and Asia-Pacific.

The Q4 results included one-time provisions linked to implementation of new labour codes and a Rs 25.7 crore non-cash accounting adjustment related to Turkish subsidiary Endok under Indian Accounting Standard (Ind AS) 29 applicable to hyperinflationary economies. The company stated that Endok continued to maintain operating margins above 25%.

Quality Power also highlighted supply constraints in electrical-grade steel, copper and specialised insulation systems. Mitigation efforts include long-term supplier agreements, dual sourcing arrangements and development of a Global Coil Manufacturing Facility at Sangli.

Yash Highvoltage — Revenue rises 57%, PAT jumps 75%

Yash Highvoltage Limited reported record annual financial performance for FY2025-26. Consolidated revenue increased 57% to Rs 235.1 crore from Rs 151.6 crore in the previous fiscal year.

EBITDA grew 75% to Rs 60.4 crore, while PAT also rose 75% to Rs 37.4 crore. EBITDA margin expanded to 25.7% from 23.1%, and PAT margin improved to 15.9% from 14.3%.

Annual unit sales reached a record 7,272 units compared to 5,752 units in FY2024-25. For the second half of FY2025-26, revenue stood at Rs 135.5 crore, reflecting 46% year-on-year growth, while EBITDA margin was reported at 27.4%.

Strategic developments during the year included progress on the company’s greenfield Resin Impregnated Paper (RIP) and Resin Impregnated Synthetic (RIS) manufacturing facility, with trial production expected during the first half of FY2026-27.

The company also operationalised Yash HV USA Inc., expanded distribution partnerships in Europe and the United Kingdom, and completed acquisition of Sukrut Electric in partnership with Quality Power. It additionally completed in-house testing of its first 245 kV oil-to-oil transformer bushing.

GK Energy — Revenue up 40%, company turns net cash positive

GK Energy Limited reported revenue from operations of Rs 1,532.54 crore for FY2025-26, reflecting 40% year-on-year growth.

PAT increased 51.1% to Rs 201.27 crore, while EBITDA stood at Rs 313.18 crore with EBITDA margin of 20.44%. The company moved from a net debt position to a surplus cash position of Rs 240.61 crore as of March 31, 2026.

During the year, GK Energy deployed 61,085 decentralised renewable energy systems, mainly covering solar agricultural pumps and rooftop solar projects, with total commissioned capacity of 276 MW.

Cumulatively, the company has installed more than 140,000 systems and commissioned 617 MW across India. It currently operates across over 7,500 villages through a network of more than 1,200 installation and commissioning partners.

Key government programmes supporting business growth include PM-KUSUM, Magel Tyala Saur Krushi Pump Yojana and PM Surya Ghar Yojana.

Crompton Greaves — Impairment charge impacts FY2025-26 earnings

Crompton Greaves Consumer Electricals Limited reported consolidated revenue of Rs 2,283 crore for the fourth quarter of FY2025-26, reflecting 10.8% year-on-year growth.

Quarterly EBITDA stood at Rs 271 crore with EBITDA margin of 11.9%. The Board of Directors recommended a dividend of Rs 3 per share, representing a payout ratio of 42%.

For the full financial year, consolidated revenue rose 3% to Rs 8,096 crore from Rs 7,864 crore in FY2024-25. EBITDA stood at Rs 827 crore with margin of 10.2%, while PAT before exceptional items was Rs 502 crore.

Within business segments, the Electrical Consumer Durables (ECD) division reported 9.5% growth in Q4, driven by pumps, small domestic appliances and Brushless Direct Current (BLDC) fans. The lighting segment posted 14.3% revenue growth with EBIT margin of 12.2%, while Butterfly reported revenue growth of 16.6%.

The company recognised a one-time non-cash impairment charge of Rs 716 crore during Q4 under Ind AS 36 related to its investment in Butterfly Gandhimathi Appliances Limited. Crompton Greaves stated that the impairment does not impact Butterfly’s operational performance or cash flows.

Recent product launches include residential wires under the Crompton Armor brand and a premium product range under the Crompton Rhion brand.

Dynamic Cables — Order book reaches record Rs 808 crore

Dynamic Cables Limited closed FY2025-26 with its highest-ever order book of Rs 808 crore as of March 31, 2026, compared to Rs 787 crore at the end of the previous quarter.

During the year, the company launched FR-LSH and FR-FRLSH fire-retardant, low-smoke housing cables for the business-to-business project market.

Dynamic Cables also entered into a technical partnership with TS Conductor Corp to manufacture and market High Temperature Low Sag (HTLS) conductors. Earlier, the company had received approval from Power Grid Corporation of India Limited (PGCIL) for manufacturing ACSR and AL59 conductors at its Reengus facility in Rajasthan.

The company stated that the commissioning of its greenfield solar direct current (DC) cable plant at Reengus has been delayed due to statutory approval timelines and logistics disruptions arising from the Iran conflict, which affected the delivery of imported machinery.

Dynamic Cables expects the new capacities to become operational ahead of the seasonally stronger second half of FY2026-27.

The featured photograph is for representation only.