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Hirect Limited Reports 20.3% Revenue Growth in Q1 FY27; Standalone Net Profit Up 17.8% Amid Global Expansion

Posted On : 2026-08-11 22:35:38( TIMEZONE : IST )

Power semiconductor and railway transportation equipment manufacturer Hirect Limited (BSE: 504036, NSE: HIRECT), formerly known as Hind Rectifiers Limited, announced its unaudited financial results for the first quarter ended June 30, 2026.

The company posted healthy top-line growth across standalone and consolidated operations, backed by a strong order book of ₹739.8 crore as of July 2026 and strategic expansions into next-generation trainset projects and key international markets.

Financial Performance Overview

Consolidated Financials

Revenue from Operations: Grew 20.3% year-on-year to ₹258.4 crore in Q1 FY27, up from ₹214.8 crore in Q1 FY26, driven by sustained business momentum across core verticals.

EBITDA: Stood at ₹13.2 crore compared to ₹24.2 crore in Q1 FY26. Consolidated profitability was impacted by higher employee and operating costs following the consolidation and operational scale-up of Elventive France. Management expects consolidated EBITDA to remain moderated over the next 3 to 5 quarters as Elventive France moves toward breakeven.

Profit After Tax (PAT): Reported at ₹9.4 crore (after minority interest) compared to ₹12.8 crore in Q1 FY26.

Standalone Financials

Revenue from Operations: Grew 10.1% year-on-year to ₹236.4 crore in Q1 FY27.

Gross Profit: Stood at ₹60.3 crore with a gross margin of 25.5% (compared to 26.2% in Q1 FY26), reflecting higher raw material costs amid commodity price volatility linked to West Asia tensions.

EBITDA: Increased by 3.2% year-on-year to ₹25.1 crore in Q1 FY27 from ₹24.3 crore in Q1 FY26.

Profit After Tax (PAT): Rose 17.8% year-on-year to ₹15.1 crore, up from ₹12.8 crore in Q1 FY26.

Strategic Orders and Operational Milestones

Hirect made progress during the quarter in transitioning from a component manufacturer to an integrated systems and solutions provider:

MEMU Trainsets Order: Secured a maiden development order from Modern Coach Factory (MCF) for four MEMU trainsets, covering traction transformers, propulsion systems, traction motors, and Train Control and Management Systems (TCMS).

Vande Metro (Namo Bharat) Order: Received a maiden development order from Rail Coach Factory (RCF), Kapurthala, for the Vande Metro (Namo Bharat) trainset platform.

US Market Entry: Bagged its first order from the United States for traction motor assemblies.

Mining Industry Entry: Expanded into the industrial sector with its maiden US order for IGBT converters tailored for mining applications.

Order Book Visibility: Total order book stood at ₹739.8 crore as of July 2026, anchored by railway transformers, railway electronics, and electromechanical systems.

Suramya Nevatia, Chairman & Managing Director of Hirect Limited, stated: "We have commenced FY27 with healthy underlying business momentum, reflecting continued strength across our core operations. The ongoing integration and scale-up of Elventive France has resulted in higher employee and operating expenses, along with an increase in other operating costs, impacting consolidated margins during the quarter. We expect near-term margin pressure to continue over the next 3-5 quarters as Elventive France progresses towards breakeven, following which margins are expected to improve gradually as the business scales.

Q1FY27 was particularly important from a strategic perspective, as we made meaningful progress in our evolution from a component supplier to an integrated systems and solutions company. Our recent entry into next-generation trainsets through our first MEMU development order from Modern Coach Factory and our first Vande Metro development order from Rail Coach Factory marks an important milestone in this journey.

We also made encouraging progress in our international expansion during the quarter. The first US order for traction motor assemblies marks our initial entry into the US market, while the order for IGBT converters for the US mining industry demonstrates the broader applicability of our power electronics capabilities beyond railways."

Shares of Hirect Limited was last trading in BSE at Rs. 1224.60 as compared to the previous close of Rs. 1290.35. The total number of shares traded during the day was 27789 in over 1517 trades.

The stock hit an intraday high of Rs. 1308.80 and intraday low of 1169.95. The net turnover during the day was Rs. 33898069.00.