QPQuality Power Electrical Equipments544367Earnings call transcript

Q2 FY27 call: two plants start manufacturing, order book crosses INR 2,000 crore, QIP targeted for November

Q2 FY27 earnings call transcript shared.

By ScoutQuest · Sat 7 Nov 2026, 5:37 PM IST · 2 min read

Consolidated Order Book

crossed INR 2,000 crores for the first time, excluding Win-Win

Reactor Capacity

up to 1,050 kV

QIP Timeline

Proposed QIP targeted for November, subject to approvals

Manufacturing milestones

• The Sangli global coil factory commenced manufacturing operations on 20 October, the day the company marked 25 years since it began operations. Winding has commenced on three machines, the first round of ISO audit is complete, and final customer audits are scheduled to start from the end of November.
• The Sangli investment expands manufacturing infrastructure for high-voltage reactors up to 1,050 kV, enabling the company to address larger and more technically demanding customer requirements.
• The new PCS factory for BESS applications at Nigde, Turkey has also commenced manufacturing operations and is operating in full manufacturing mode, with production aligned to customer projects.

Win-Win Specialty Insulators

• Type tests under applicable American and European standards were completed for porcelain insulators up to 400 kV.
• Orders have been secured for 800 kV HVDC porcelain insulators and for 765 kV AC and 400 kV AC applications from large Indian utilities and equipment manufacturers, including Power Grid.
• Management said the acquisition process remains underway and that integration of teams, customer relationships and operational systems has begun.

Order book

• The consolidated order book crossed INR 2,000 crores for the first time, excluding the order book of Win-Win Specialty Insulators.
• Demand is cited across reactors, instrument transformers, insulators, power conversion equipment and FACTS equipment, with opportunities linked to transmission infrastructure, HVDC, FACTS, renewable integration, grid stability and energy storage.

Capital raise and use of funds

• Preparations for the proposed QIP are progressing, with November targeted, subject to regulatory approvals, market conditions and other applicable requirements.
• Stated capital allocation priorities: completing the proposed Win-Win acquisition; supporting capacity and infrastructure expansion at Win-Win; continuing investments in US manufacturing and sales capacity, including infrastructure for both air-core and oil-filled reactor business; and strengthening working capital to execute larger customer orders expected in the next few quarters.

Pointers on the road ahead from management

• Billing at the Turkey BESS facility may commence during the current quarter, subject to completion of contractual milestones and customer acceptance requirements.
• With commissioning substantially done, the stated focus is production stabilisation, customer qualification, workforce productivity and capacity utilisation.
• Management said the global supply chain for specialised electrical equipment remains constrained, with geopolitical developments, changing trade conditions, logistics disruptions and extended procurement lead times putting pressure on manufacturers and project schedules; the stated response is procurement discipline, supplier diversification, manufacturing flexibility and closer alignment of engineering, production and delivery schedules.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

About ScoutQuest · Logos provided by Logo.dev