1. Opening Hook
While most small-cap infra players are still blaming “execution delays” and “monsoons,” Trishakti decided to casually deploy ₹154 crore of machines in nine months—because why stick to guidance when demand is on steroids?
In a quarter where many infra companies were busy managing Excel models, Trishakti’s cranes were busy working 100% of the time, throwing off EBITDA margins that would make private equity blush. Management sounded less like survivors of a tough cycle and more like contractors who can’t say no to orders.
The tone? Confident.
The numbers? Loud.
The CapEx? Already overshot.
And the best part—this is before the real operating leverage kicks in.
Read on, because this concall quietly answered a question many investors are still missing.
2. At a Glance
- Revenue ₹8 Cr (↑20% QoQ, ↑357% YoY) – When your base is tiny and cranes multiply, math does miracles
- EBITDA ₹5.61 Cr (↑43% QoQ) – Margins flexing harder than promoters on concalls
- EBITDA Margin 65%+ – OEMs paying maintenance bills, competitors paying the price
- PAT ₹2.45 Cr (↑53% QoQ, ↑1744% YoY) – Operating leverage finally clocked in
- CapEx ₹154 Cr YTD – FY26 guidance was ₹100 Cr… management laughed and spent more
- Fleet 117 machines, 100% utilisation – The rare infra phrase investors love
3. Management’s Key Commentary (Decoded)
“Our annualised revenue run-rate now stands at ₹48 crores.”
(We bought machines faster than accountants could depreciate them 😏)
“Heavy equipment hiring is operating at 100% utilisation.”
(Nothing is idle. Not
