Rishi Laser Q1 FY27: Revenue Holds Steady as Malur Ramp-Up Weighs on Margins

Revenue in Q1 FY27 was INR 42.26 crore and total income was INR 42.44 crore.

EBITDA was INR 2.93 crore in Q1 FY27 versus INR 3.99 crore in Q1 FY26, and EBITDA margin declined to 6.90 percent from 9.62 percent.

Management attributed the margin moderation mainly to higher employee costs due to manpower build-up at the Malur facility, along with higher finance costs and depreciation linked to Ind AS lease accounting for Malur land.

Domestic contributed 84.26 percent and exports contributed 15.74 percent of Q1 FY27 revenue.

Construction equipment was 56.93 percent, power 9.46 percent, rail transport 1.75 percent, and others 31.86 percent.

Management indicated Malur is expected to contribute around INR 60 crore revenue in FY27 and stated broader targets including INR 100 crore by FY29 and 20 percent revenue CAGR over the next three years.

The future roadmap slide discloses an INR 18 crore capex for expansion related to scaling up the new Bangalore plant.