S&S Power Switchgear Ltd

Resolutions and outcomes

• Special Resolution to appoint Martin Ansell as Independent Director approved by requisite majority.
• Role: Independent Director; term and experience details not disclosed in filing.
• Total votes polled: 9,413,919; in favour 9,406,879 (99.93%), against 7,040 (0.07%).
• Record date 17-07-2026; e-voting period 23 July 2026 to 21 August 2026.

Order details

• Hitachi Energy India Limited awarded SSPSE a PO to supply isolators for a Dilip Buildcon Karnataka package.
• Order value exceeds ₹8–₹10 crore.
• Awarding entity is domestic: Hitachi Energy India Limited.
• Nature: supply of isolators.
• Order awarded to SSPSE, a wholly owned subsidiary.
• Timeframe for execution: Mar'27 to Jun'27.
• Delivery schedules may start by end of current financial year.
• Promoter/related party interest: No.
• Significant win; potential uplift to order book and revenue visibility.

Order details

• Vedanta Aluminium Metal Limited awarded a domestic Pot Control System order to HART, installation/commissioning, partly this year.

Business Overview

• Boutique Indian MNC in Power and Automation with global operations.
• Core offerings include high-voltage disconnectors, protection and control panels.
• Restructured in Feb 2024 with new management; three subsidiaries anchor international footprint.
• Subsidiaries SSPSE (Chennai), Acrastyle (UK), HART (Kolkata) anchor global footprint.
• 3-year plan targets technology upgrades, portfolio expansion, and manufacturing modernization.

Operational Highlights

• Q1 FY27 revenue rose 18% year-on-year to 7,165 Lakhs.
• New orders for Q1 FY27 totaled 3,759.
• EBIDA stood at 220 Lakhs; EPS at -0.21 per share.
• Backlog remains robust with expected inflows in forthcoming quarter.
• FY27 marks the second year of a 3-year strategic plan.
• 3-year capex plan covers products, people, technology, and systems.
• Margins stable; automation delays compressed EBITDA.

Financial Performance

• Q1 FY27 revenue: 7,165 Lakhs; YoY growth 18%.
• Q1 FY27 EBIDA: 220 Lakhs; margins stable.
• Q1 FY27 EPS: -0.21 per share.
• Backlog level remains robust; new inflows expected in coming quarter.

Capital Structure & Liquidity

• Target debt-free status by Mar 2028; EBIDA target 12-15%.
• Aim to double 2025 revenue by 2028.

Strategic Priorities & Outlook

• Three-year plan emphasizes technology investment and expanded product portfolio.
• Capex emphasis on capacity expansion and modernized factories.
• SAP rollout planned to unify group-wide operations in FY27.
• Global footprint expansion includes Vietnam, Malaysia, Bangladesh, Africa; UK focus via Acrastyle.
• Zero-deviation policy on Quality, EHS, Compliance.
• IT and cybersecurity strengthening across all facilities.

Risks & Mitigation

• Execution delays in automation business affected EBITDA; mitigation via scale-up and capex.

Governance & Leadership

• Board comprises promoter chairman and independent directors.
• Management team refreshed in 2024; CEOs for SSPSE, Acrastyle, and HART named.

CFO resignation

• Resigning CFO: C N Sathyanarayanan.
• Effective from 14 August 2026 (last working day).
• Reason stated: personal reasons and preoccupation.
• No other material reasons for resignation.
• Board approved the resignation and took it on record.
• Srikant Sharma appointed as CFO, effective 14 August 2026.

Financial results

• Unaudited standalone and consolidated results for quarter ended 30 June 2026 approved.
• Limited Review Reports on results by CNK & Associates LLP enclosed.
• ESOP amortization charged Rs 156.09 Lakhs for quarter ended 30 June 2026.

CFO changes

• CFO C N Sathyanarayanan resigns, effective 14 August 2026.
• Mr. Srikant Sharma appointed CFO from 14 August 2026.

AGM 2026

• 48th AGM scheduled for 28 September 2026 at 3:00 PM via VC/OAVM.
• Draft AGM notice and resolutions to be placed before shareholders; notice to be issued separately.

Regulatory disclosures

• Regulatory disclosures under Reg 30 and 33; Annexures II and III enclosed.
• Independent Auditor's Review Reports attached; no audit opinion due to review scope.

Dematerialisation status

• 155 physical certificates received for dematerialisation.
• The securities have been listed on the stock exchanges.
• Certificates were mutilated and cancelled; depository name substituted as registered owner.

Business overview

• S&S Power makes T&D and industrial automation solutions through SSPSE, Acrastyle UK, and HART.
• The group says it was restructured from February 2024 and is now growth-focused.

Operational highlights

• FY26 saw sustained new orders and an all-time high revenue.
• 765 kV disconnector development was completed and patent granted in January 2026.
• Phase I of capacity expansion was completed in April 2026.
• The company reported its highest-ever order backlog, including an Egypt export order.

Financial performance

• FY26 revenue rose to ₹266.8 lakh from ₹187.4 lakh, up 43% year on year.
• FY26 EBIDA increased to ₹12.9 lakh from ₹5.0 lakh.
• FY26 EPS improved to ₹8.19 from negative ₹3.07.
• Q4 FY26 revenue was ₹65.0 lakh versus ₹56.3 lakh in Q4 FY25.
• Q4 FY26 EBIDA was ₹4.9 lakh versus ₹1.1 lakh a year earlier.

Strategy and outlook

• FY26 began a three-year plan targeting doubled organic revenue by FY28.
• Management targets EBIDA margins of 12% to 15% and positive free cash flow by FY28.
• Planned priorities include export expansion, R&D investment, acquisitions, and process digitization.
• The group aims to become debt-free by March 2028.

Capital structure

• The presentation highlights a goal of becoming debt-free by March 2028.
• No fresh equity raise or debt change was disclosed in this chunk.

Governance and leadership

• The board includes promoter, independent, and executive directors.
• Krishnakumar Ramanathan serves as MD and Group CEO.
• Nicholas Dunn was named CEO of Acrastyle effective June 2025.