Rajesh Power Services Limited FY26 Revenue Rises 52% to ₹1,633 Crore

Rajesh Power Services Limited reported FY26 total revenue of ₹1,633.41 crore, a 51.68% year-on-year increase, alongside net profit of ₹143.20 crore. The performance matters because Rajesh Power Services entered FY27 with ₹3,741.79 crore of unexecuted orders, including L1 orders, providing visibility across its transmission and distribution project portfolio.

How did Rajesh Power Services perform in FY26?

Rajesh Power Services reported a material increase in its FY26 financial scale. The company’s financial highlights put revenue at ₹1,633.41 crore, compared with ₹1,076.91 crore in FY25, representing growth of 51.68%. Operating profit rose 59.82% to ₹195.64 crore from ₹122.41 crore, while net profit increased 48.19% to ₹143.20 crore from ₹96.63 crore.

The detailed figures provided with the results classify ₹1,627.94 crore as revenue and ₹5.47 crore as other income, taking total revenue to ₹1,633.41 crore. The same table lists total expenses at ₹1,442.82 crore and profit before tax at ₹195.64 crore. It also shows profit after tax of ₹143.20 crore. The comparative table reports FY25 revenue of ₹1,107.44 crore, other income of ₹7.22 crore, total revenue of ₹1,114.66 crore, and profit after tax of ₹93.37 crore.

What supported Rajesh Power Services' FY26 growth?

Rajesh Power Services attributed its FY26 expansion to disciplined project execution, cost control and a diversified order book. Revenue from operations was ₹1,627.94 crore, while EBITDA excluding other income was ₹197.16 crore. This translated into an EBITDA margin of 12.1% for the year.

The company said its three-year revenue compound annual growth rate from FY23 to FY26 was 99%. That growth came as the business widened its presence in power transmission and distribution work. During H1 FY26, Rajesh Power Services reported revenue of ₹638.00 crore, EBITDA of ₹84.00 crore and profit after tax of ₹59.00 crore. It also stated that operations had expanded to five states and that it had entered the 400 kV GIS segment.

The H1 FY26 update had indicated order inflows of more than ₹2,200 crore and an unexecuted order book exceeding ₹3,500 crore. These disclosures show that the FY26 financial performance was accompanied by a larger execution pipeline rather than being based only on completed projects.

What is Rajesh Power Services' order book and FY27 position?

Rajesh Power Services reported an unexecuted order book of ₹3,741.79 crore, including L1 orders, as of June 30, 2026. The company also reported Q1 FY27 revenue from operations of ₹436.62 crore. Its FY26-27 order value was stated at ₹2,782.56 crore, with quarter-on-quarter growth of 457.26% reported in the supplied data.

Key project wins included a ₹211.68 crore transmission contract, including taxes, from Odisha Power Transmission Corporation Limited. This contract marked Rajesh Power Services' entry into Odisha. The company also received a ₹653.12 crore order, including taxes, from Paschim Gujarat Vij Company Limited for underground power distribution infrastructure in Gujarat.

These orders add both transmission and distribution work to the company’s project mix. Rajesh Power Services has said its long-term CRISIL rating was reaffirmed at A-, while the outlook was revised to Positive from Stable. The rating action was reported alongside the company’s FY27 project and order-book updates.

What does the FY26 performance mean for investors and operations?

The FY26 results show that Rajesh Power Services increased revenue, operating profit and net profit during the year, while retaining a 12.1% EBITDA margin excluding other income. The increase in the unexecuted order book to ₹3,741.79 crore gives the company a disclosed base of projects for future execution, subject to project schedules and order terms.

For the power transmission and distribution sector, the company’s wins from PGVCL, UGVCL and OPTCL reflect activity across utility-led infrastructure projects. The Gujarat underground distribution order and the Odisha transmission contract also extend Rajesh Power Services' work across different project types and geographies.

Management has maintained guidance for 40% revenue growth in FY27. It is targeting order inflows of ₹4,000 crore to ₹5,000 crore and an order-book closure above ₹5,000 crore. These are management targets rather than reported outcomes, and their delivery will depend on order conversion and execution during the year.

When will Rajesh Power Services discuss H1 FY27 results?

Rajesh Power Services has scheduled an earnings conference call for November 2, 2026, at 4:00 PM IST to discuss unaudited financial results for the half-year ended September 30, 2026. The company issued earnings-call intimations on October 29 and October 30 under Regulation 30 of the Listing Obligations and Disclosure Requirements regulations.

The board meeting to consider and approve standalone and consolidated unaudited H1 FY27 results was also scheduled for November 2, 2026. Investors will have the opportunity to hear management’s discussion of the half-year results and the company’s updated position on revenue, order inflows and the execution pipeline.

The scheduled call follows the Q1 FY27 disclosure of ₹436.62 crore in revenue from operations. It will be relevant for assessing whether the company’s reported FY27 guidance, order-book targets and project expansion plans remain unchanged after the first half of the financial year.

Conclusion

Rajesh Power Services closed FY26 with total revenue of ₹1,633.41 crore, operating profit of ₹195.64 crore and net profit of ₹143.20 crore, based on the financial highlights provided. Its FY27 starting position included ₹436.62 crore of Q1 revenue and an unexecuted order book of ₹3,741.79 crore, including L1 orders.

The next disclosed event is the November 2, 2026 board meeting and earnings call on the unaudited H1 FY27 results. Investors will watch management’s commentary on its 40% FY27 revenue-growth guidance, targeted ₹4,000 crore to ₹5,000 crore of order inflows, and its goal of closing the year with an order book above ₹5,000 crore.