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Rishabh Instruments Q3FY26 PAT Surges 161.5% YoY; EBITDA Margins Expand 920 Bps
Rishabh Instruments reported a strong Q3FY26 with consolidated PAT growing 161.5% YoY to ₹205.1 million, despite a modest revenue growth of 1.3%. The company witnessed significant margin expansion, with EBITDA margins jumping 920 bps to 17.1%, driven by operational efficiencies and a turnaround in the High Pressure Die Casting (HPDC) business. While the HPDC segment saw a planned revenue decline of 29.1% due to exiting loss-making contracts, its 9M EBITDA improved significantly to ₹64 million from a loss previously. The Electrical and Electronic Instruments (EEI) segment remains the primary growth driver, recording 17.7% revenue growth in Q3.
Key Highlights
Consolidated PAT for Q3FY26 grew by 161.5% YoY to ₹205.1 million
EBITDA margins expanded by 920 bps YoY to 17.1% in Q3FY26, driven by sourcing efficiencies
Electrical and Electronic Instruments (EEI) segment revenue grew 17.7% YoY to ₹1,388 million
HPDC business turned around with 9MFY26 EBITDA of ₹64 million vs a loss of ₹151 million in 9MFY25
Standalone PAT grew 110.8% YoY to ₹84.1 million with a PAT margin of 13.8%
💼 Action for Investors
Investors should note the significant operational turnaround in the HPDC segment and the substantial margin expansion across the group. The company's ability to triple its 9-month PAT despite single-digit revenue growth indicates strong operational leverage and successful cost optimization.
Rishabh Instruments Reports Deviation in IPO Fund Utilization for Nashik Facility Expansion
Rishabh Instruments has disclosed a deviation in the utilization of its ₹750 million IPO proceeds for the quarter ended December 31, 2025. Following shareholder approval in September 2024, the company reallocated ₹300 million from the expansion of Nashik Manufacturing Facility I to a new Facility II. As of the reporting date, ₹224.31 million has been utilized for Facility I and ₹204.19 million for Facility II. The company has also utilized ₹77.20 million of the ₹79.20 million allocated for General Corporate Purposes.
Key Highlights
Total funds raised via Public Issue on September 11, 2023, amounted to ₹750 million.
Shareholders approved a reallocation of ₹300 million from Nashik Facility I to Nashik Facility II on September 13, 2024.
Utilization for Nashik Facility I stands at ₹224.31 million against a modified allocation of ₹321.80 million.
Utilization for Nashik Facility II stands at ₹204.19 million against an allocation of ₹300 million.
General Corporate Purpose funds are nearly exhausted with ₹77.20 million utilized out of ₹79.20 million.
💼 Action for Investors
Investors should track the completion timelines of both Nashik facilities to ensure the reallocated capital translates into expected production capacity. The deviation is not a cause for alarm as it was previously approved by shareholders and reflects strategic adjustments.
Rishabh Instruments Q3 Standalone PAT Jumps 111% YoY to ₹84.1 Million
Rishabh Instruments reported a strong year-on-year performance for Q3 FY26, with standalone net profit more than doubling to ₹84.08 million from ₹39.85 million in the previous year. Revenue from operations saw a modest growth of 3% YoY, reaching ₹610.53 million. However, on a sequential basis, the company faced a decline in both revenue (down 7.5%) and PAT (down 33.5%) compared to Q2 FY26. The nine-month performance remains robust, with standalone PAT growing by 113% to ₹309.24 million.
Key Highlights
Standalone PAT for Q3 FY26 surged 111% YoY to ₹84.08 million compared to ₹39.85 million.
Revenue from operations grew 3.05% YoY to ₹610.53 million from ₹592.42 million.
9M FY26 Standalone PAT reached ₹309.24 million, a significant jump from ₹145.14 million in 9M FY25.
Total standalone expenses for the quarter decreased to ₹529.70 million from ₹570.21 million YoY.
Basic EPS for the quarter increased to ₹2.19 from ₹1.04 in the corresponding quarter of the previous year.
💼 Action for Investors
Investors should note the significant margin expansion and year-on-year profit growth, which indicates improved operational efficiency. While the sequential dip in revenue and profit requires monitoring, the strong nine-month performance supports a positive outlook.
Rishabh Instruments bags Euro €1 million (₹10 Crores) contract
Rishabh Instruments has secured a new contract with a leading Electrical Equipment Supplier in Europe. The contract is valued at Euro €1 million, which is approximately ₹10 Crores. This contract involves the supply of Low Voltage Current Transformers (CTs). Deliveries are scheduled to be equally distributed across FY26 and FY27, indicating a steady revenue stream for the company over the next two fiscal years.
Key Highlights
Contract valued at Euro €1 million
Contract value approximately ₹10 Crores
Supply of Low Voltage Current Transformers (CTs)
Deliveries scheduled equally across FY26 and FY27
💼 Action for Investors
This new contract is a positive sign for Rishabh Instruments. Investors should monitor the company's progress in fulfilling this contract and its impact on future earnings.