Kanohar Electricals rallies on strong Q1 results; sets FY27 revenue target at Rs 950 crore

Kanohar Electricals surged 8.08% to Rs 1,017.15 after the transformer manufacturer reported a 140.04% jump in standalone net profit to Rs 27.34 crore in Q1 FY27, compared with Rs 11.39 crore in Q1 FY26

Revenue from operations more than doubled to Rs 137 crore in Q1 FY27 from Rs 67 crore in Q1 FY26, registering a growth of 103.5% YoY.

Profit before tax (PBT) increased 134.7% to Rs 37 crore from Rs 16 crore.

EBITDA stood at Rs 39 crore, up 152.2% compared with Rs 15 crore posted in Q1 FY26. EBITDA margin expanded to 28.3% in Q1 FY27 from 22.8% in the year-ago quarter, supported by improved manufacturing performance and a favourable product mix.

Transformers contributed 85.2% of the company's revenue during the quarter, while the engineering, procurement and construction (EPC) business accounted for the remaining 14.8%.

Abhishek SINGHAL, whole time director, Kanohar Electricals , said, ?We continued the momentum of FY26 in Q1FY27. On Y-o-Y basis, we doubled our revenues, sustained high Gross margins, expanded our EBITDA and PAT margins. The profitability improvement is driven by healthy increase in manufacturing and improvement in product mix (higher contribution in 400kV segment) which led to higher operating leverage and profit after tax.

We added incremental orders worth approximately Rs 332.3 crore and have closed the quarter at an outstanding orderbook of Rs 2,026 crore executable over the next 18-24 months.

We are investing in increasing the capacity through brownfield expansion at our Gangol unit along with undertaking sustainability efforts. These capex spends over the next 18 months will result in healthy growth and sustainable profits. Having won orders in the 400kV Transformers segment, we are focusing on execution. Further, having built capabilities to manufacture 765kV Transformers, we are working towards adding suitable orders which will further sustain the overall revenue growth and margins. Certifications and Pre-qualification are large entry barriers in the Transformers industry.

For FY27, we are targeting revenues of Rs 950 crore with similar EBITDA margin profile as FY26.?

Kanohar Electricals made its stock market debut on 16 September 2026, listing at Rs 672.05 on the BSE, a premium of 6.34% over its issue price. Its initial public offering (IPO) was subscribed 90.59 times. The issue comprised a fresh issue aggregating Rs 300 crore and an offer for sale of 1,19,57,915 equity shares.

Kanohar Electricals is a transformer manufacturer and EPC service provider for substations and transmission lines in India, catering to power transmission, railways, renewable energy and power distribution sectors.

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