RIR Power Electronics Ltd

Meeting Details

• Date of earnings conference call: 13 August 2026.
• Type and mode: group conference call conducted virtually.
• Purpose: earnings discussion for Q1 FY2026-27.
• Recording: audio recording of the call is available.

Financial highlights

• Revenue for Q1 FY27 at ₹27.16 crore, up 29.28% YoY
• Adjusted EBITDA ₹4.71 crore, margin 17.32% (YoY +357 bps)
• PAT ₹3.14 crore, PAT margin 11.23%
• Basic EPS ₹0.39 for the quarter

Governance and leadership

• Vivek Patel appointed Non-Executive Independent Director
• Ankit Shah appointed Chief Financial Officer
• NSE listing on 16 July 2026 enhances liquidity and visibility

Strategic and market developments

• RailTrans Expo 2026 showcased railway power electronics solutions
• First overseas order: 120 units of 125 mm 5kV SCR thyristors
• Collaboration with Silicon University yields two IEEE MWSCAS 2026 papers

Financial results approved

• Standalone unaudited results for quarter ended 30 June 2026 approved; Limited Review Report by Kirtane & Pandit LLP.

Director appointment

• Appointed Vivek Satishbhai Patel as Non-Executive Independent Director for 5-year term, effective 10 Aug 2026 (shareholder approval required).

CFO appointment

• Elevated Ankit Shah as Chief Financial Officer and KMP, effective 10 Aug 2026; previously Financial Controller.

Auditor report

• Independent Auditor's Review notes no material misstatement; moderate assurance provided.

Operational/Regulatory notes

• Company operates in a single Power Electronics segment.

Meeting Details

• Date and time: Thursday, August 13, 2026 at 11:00 a.m. IST.
• Mode: virtual earnings conference call.
• Organizer/event: Earnings conference call for Q1 FY2027 by RIR Power Electronics Ltd.
• Key participants: Non-Executive Chairman; MD & CEO; Financial Controller.
• Purpose: discuss the financial performance for the quarter ended June 30, 2026.

Listing Details

• RIR Power Electronics to list on NSE from July 16, 2026, following exchange approval.
• Company has been listed on BSE since 1986.
• Current market cap around Rs 1,257 crore as of 14 July 2026.

Operational Footprint

• Operates one manufacturing plant in Halol, Gujarat.
• New facility planned in Bhubaneshwar, Odisha.

Strategic Rationale

• NSE listing to enhance liquidity, price discovery, and broaden investor access.

Listing approval and details

• NSE approves listing of RIR shares on the Mainboard, effective 16 July 2026.
• NSE letter NSE/LIST/250 dated 14 July 2026 confirms listing; symbol RIR, EQ.
• Total equity shares: 79,572,400; face value Rs 2; market lot 1.
• Distinctive numbers 1 to 79,572,400; lock-in not applicable.
• From listing date, all further filings via NEAPS NSE portal.
• NSE NEAPS mobile app launched; improves submission tracking and compliance calendar.

MWSCAS 2026 selections

• Two joint papers selected for presentation at IEEE MWSCAS 2026 in Cincinnati, USA.
• Papers address high-voltage power electronics, thermal management, switching efficiency, and compact system design.
• First paper compares 3.3 kV SiC MOSFET with silicon IGBT in a 33 kW PMSM drive.
• Demonstrates superior electrical and thermal performance of 3.3 kV SiC MOSFET technology.
• Second paper explores 4H-SiC Implant Epitaxy MOSFET designs for 3.3 kV onwards.
• Uses Silvaco TCAD tools to balance manufacturability and device performance.
• MoU signed November 2025 between RIR Power Electronics and Silicon University.
• Collaboration focuses on advancing SiC devices for electric mobility, renewables and industrial applications.
• Leaders say collaboration strengthens India's semiconductor capabilities and indigenous power-electronics solutions.

Business overview

• RIR Power Electronics makes power semiconductor devices, rectifiers, modules, and systems.
• It serves railway, defense, infrastructure, export, and clean energy applications.
• The company says it is India’s first vertically integrated silicon carbide facility.

Operational highlights

• Odisha SiC plant cleanroom is complete; machinery installation should finish by July-end.
• Epitaxial wafer production is expected in Q2 FY2027.
• The company won its first overseas order for 5 kV SCR thyristors.
• It developed a 25 kV–120 kA capacitor discharge semiconductor switch.

Financial performance

• FY26 revenue rose 5.4% to ₹90.87 crore.
• FY26 adjusted EBITDA fell 7.2% to ₹10.58 crore; margin declined to 11.64%.
• FY26 PAT declined 18.8% to ₹6.72 crore; PAT margin fell to 7.20%.
• Q4 FY26 revenue grew 18.2% sequentially to ₹23.95 crore.
• Q4 FY26 PAT rose 212.5% QoQ to ₹1.39 crore.

Capital structure

• Current order backlog stands at ₹17.5 crore.
• No debt, equity raise, or liquidity update was disclosed in this chunk.

Outlook

• Management expects the Odisha SiC plant to strengthen domestic semiconductor manufacturing.
• Growth is targeted from exports, railways, defense, and infrastructure demand.
• The presentation cites India semiconductor market growth toward over USD 100 billion by 2030.

Risks

• Key risks include raw material volatility, competition, supply chain disruption, and foreign exchange swings.
• Regulatory, environmental, and technology changes are also highlighted as risks.

Governance

• Management team listed MD & CEO N. Ramesh Kumar, Chairman Harshad Mehta, and CTO Ramesh Trasi.

Q4 FY26 results

• FY26 standalone revenue rose 5.41% to ₹90.87 crore.
• FY26 PAT fell 18.81% to ₹6.72 crore; EBITDA margin declined to 11.64%.
• Q4 FY26 revenue increased 18.16% QoQ to ₹23.95 crore.
• Q4 FY26 PAT rose 212.53% QoQ to ₹1.39 crore.

Strategic developments

• Odisha SiC semiconductor plant cleanroom construction is complete; machinery installation is underway.
• Epitaxial wafer production is expected to begin in Q2 FY2027.
• Company won its first overseas order for 5 kV SCR thyristors.
• Order execution is phased, with completion expected by end-2026.
• Company developed a 25 kV–120 kA capacitor discharge semiconductor switch.

Order backlog

• Management said order backlog is about ₹17 crore.
• Backlog is expected to provide revenue visibility over coming quarters.