Ratnaveer Precision Engineering Ltd Q2 FY26 Concall Decoded: From Washers to Winners — Or Just Polished Talk?
1. Opening Hook
When stainless steel prices wobble and everyone’s playing defense, Ratnaveer decided to go full throttle. Managing Director Vijay Sanghavi opened the call like a proud cricketer after a ton — “historic, highest ever, and grateful” (he said grateful six times, FYI). But don’t scroll away yet — the punchlines came later, right along with copper-clad dreams, solar-powered EBITDA, and a QIP that might just test investor patience more than interest rates. Keep reading; this gets shiny (and slightly slippery).
2. At a Glance
Revenue ₹287 Cr – Up 25% YoY; Sanghavi calls it “historic,” auditors call it “verified.”
EBITDA ₹30.3 Cr – Margins rose to 10.5%; a rare metal indeed.
PAT ₹15.35 Cr – Profits didn’t flinch; steel nerves.
CAPEX ₹48 Cr completed – The “Phase 1” Avengers have assembled.
Stock stable post-call – Traders still decoding if “solar-led EBITDA” is a thing.
3. Management’s Key Commentary
“This quarter is historic and highest numbers we ever achieved.” (Translation: Bro, we’re finally not apologizing for results this time!) 😏
“Our goal is ₹1,500 crore topline by FY27 and ₹1,800 crore by FY28.” (Translation: Doubling sales in two years — what could possibly go wrong?)
“QIP of ₹211 crore is under process to support growth.” (Translation: Please fund us so we can stop calling our banker every Monday.)
“We are India’s first to set up copper-clad laminate (CCL) production.” (Translation: If all goes right, PCB makers will stop importing — and we’ll start billing.) 💪
“EBITDA margins will hit 13.5% next year.” (Translation: Solar panels = profit panels. That’s the new math.)
“We’re the largest washer producer in the country.” (Translation: Even your washing machine might owe us royalties.)
“We’ll keep promoter stake around 50% even after QIP.” (Translation: Dilution, yes. Surrender, never.)
