Megatherm FY26: steady profits while the next growth engine gets built

FY26 total income was Rs. 3,528.33 Mn, EBITDA Rs. 398.11 Mn, and reported PAT Rs. 236.81 Mn, as per the investor presentation.

FY26 EBITDA margin was 11.28% versus 12.02% in FY25. In H2FY26, EBITDA margin was 10.40%.

The presentation states an induction business order book of about Rs. 250 Cr and also references an overall order book of about Rs. 430 Cr supporting near-term growth targets.

The presentation highlights inverter duty transformers and multi-winding transformers (5 MVA to 40 MVA) for renewable applications and notes CPRI testing for a 13.2 MVA IDT.

Near term up to FY28: revenue growth target of about 20 to 25% CAGR. Medium term up to FY32: revenue growth target of about 20% CAGR and EBITDA growth target of about 25% CAGR.

The presentation states Megatherm Cyprium Inc. was re-incorporated on 16 January 2026, with Megatherm holding 49.99% and Cyprium 50.01%, to sell and promote Megatherm products in North America.