What topics did Indo SMC Limited cover on its May 22, 2026 earnings call?

Strong Revenue Growth, Profitability Improvement, Future Revenue Guidance, Manufacturing Expansion, Geopolitical Risks

When did Indo SMC Limited (544681) hold its May 22, 2026 earnings call?

Indo SMC Limited held its May 22, 2026 earnings call on May 22, 2026.

How can I access Indo SMC Limited earnings call transcripts via API?

Indo SMC Limited (544681) earnings call transcripts and historical archives are available through the EarningsCalls.dev API. The API returns full transcripts, speaker segments and AI-generated summaries for Indo SMC Limited and 12,000+ listed companies across 70+ countries, typically within ~30 minutes of the call's publication.

Indo SMC Limited (544681) Earnings Call Transcript & Summary

Q: What were Indo SMC Limited's May 22, 2026 results?

Revenue: More than doubled; PAT: More than doubled; FY '27 Revenue Guidance: INR 450 to 500 crores; Manufacturing Locations: 3 states (Gujarat, Maharashtra, Rajasthan); Market Presence: 20 states; Operational Margin: Sustainable

May 22, 2026

BSE IN Industrials Electrical Equipment earnings 62 min

What were the key takeaways from Indo SMC Limited's May 22, 2026 earnings call?

In Q4 FY '26, Indo SMC Limited reported significant growth, with revenue more than doubling and a corresponding increase in profit after tax (PAT). Management indicated a revenue target for FY '27 of INR 450 to 500 crores, signaling strong momentum post-listing. The company emphasized its focus on expanding manufacturing capabilities and customer relationships, which could positively influence future performance.

What topics did Indo SMC Limited cover?

Strong Revenue Growth: Indo SMC's revenue has more than doubled in FY '26, reflecting robust demand and operational improvements. Management stated, 'FY '26 has been a strong year across all the key parameters.'
Profitability Improvement: The profit after tax (PAT) also saw significant growth, aligning with the revenue increase. Management confirmed that 'this margin is sustainable for the next few years.'
Future Revenue Guidance: For FY '27, management provided guidance of INR 450 to 500 crores in revenue, indicating confidence in continued growth. This guidance was confirmed during the Q&A session.
Manufacturing Expansion: Management highlighted ongoing investments in manufacturing infrastructure across multiple states, which supports future growth. They noted, 'we have built strong manufacturing capability supported by the manufacturing across Gujarat, Maharashtra and Rajasthan.'
Geopolitical Risks: Management acknowledged potential geopolitical impacts on operations, stating, 'it depends on the situation of all the geopolitical.' This suggests caution regarding external factors affecting performance.

What were Indo SMC Limited's May 22, 2026 results?

Revenue: More than doubled (vs previous year, significant growth)
PAT: More than doubled (aligned with revenue growth)
FY '27 Revenue Guidance: INR 450 to 500 crores (management confirmed during Q&A)
Manufacturing Locations: 3 states (Gujarat, Maharashtra, Rajasthan) (supports operational capabilities)
Market Presence: 20 states (indicates expansion strategy)
Operational Margin: Sustainable (management confirmed margin sustainability)

Indo SMC Limited's strong performance in FY '26, coupled with positive guidance for FY '27, positions the company favorably for continued growth. However, geopolitical risks and operational challenges remain key areas to monitor. Investors should watch for updates on CapEx plans and market expansion efforts as potential catalysts.

Earnings Call Speaker Segments

Operator

operator

Ladies and gentlemen, good day, and welcome to the Q4 FY '26 Earnings Conference Call of Indo SMC Limited hosted by EquiBridgeX Advisors Private Limited. [Operator Instructions] Please note that this call is being recorded. I now hand the conference over to Ms. Dhruvi Mandaria from EquiBridgeX Advisors Private Limited. Thank you, and over to you.

Unknown Analyst

analyst

Thank you, and a very good evening to everyone. Welcome to the Q4 FY '26 Earnings Call of Indo SMC Limited. From management team, we have with us Mr. Neel Shah, Managing Director and Chief Financial Officer; Mr. Nitin Patel, Chairman and Non-Executive Director; Mr. Dipal Patel, financial Consultant. The call will begin with opening remarks from the management, after which we will open the floor for Q&A. With that, I would now like to hand over the call to management for opening remarks. Thank you, and over to you, sir.

Neel Shah

executive

Good evening, everyone, and thank you for joining Indo SMC FY '26 Financial Earnings Call. A warm welcome to all our investors, analysts and stakeholders joining today. FY '26 has been our important year for Indo SMC, also is the first financial call after listing. We sincerely thank all our shareholders and stakeholders for their trust and continued support in our journey. Indo SMC focus delivering high-quality and competitive solution in our utilities in SMC FRP product. Over last few years, we have built strong manufacturing capability supported by the manufacturing across Gujarat, Maharashtra and Rajasthan along with in-house testing and technical capability. During FY '26, we continue to strength our manufacturing infrastructure and expanding capability, improve operational effectiveness and enhance customer relationship across the industry. We also focus on expanding our approval base and in -- business across the utilities and industry customers. Right now, we have the 20 states and growing the Pan India presence and also expanding other countries also. Coming financial performing FY [ '26 ] has been a strong year across all the key parameters. Thank you.

Operator

operator

Should we begin the question and session, sir?

Neel Shah

executive

Yes.

Operator

operator

[Operator Instructions] We will take our first question from the line of Samarth Kanabar from SKS Capital.

Unknown Analyst

analyst

Congratulations on a good set of numbers, sir. [Foreign Language]

Neel Shah

executive

[Foreign Language]

Unknown Analyst

analyst

[Foreign Language]

Neel Shah

executive

#10

[Foreign Language]

Unknown Analyst

analyst

#11

[Foreign Language] FY '27 INR 450 crores to INR 500 crores revenue [Foreign Language] Am I correct?

Neel Shah

executive

#12

Yes.

Unknown Analyst

analyst

#13

Great. Great. Great. [Foreign Language] Just can through some light on. [Foreign Language]

Neel Shah

executive

#14

[Foreign Language]

Unknown Analyst

analyst

#15

So is this margin sustainable for the next few years?

Neel Shah

executive

#16

Yes, it is sustainable. [Foreign Language]

Unknown Analyst

analyst

#17

Great. Great. Great. Sir, if you can just throw some light on our utilization. [Foreign Language]

Neel Shah

executive

#18

[Foreign Language]

Unknown Analyst

analyst

#19

Okay. Are you planning in CapEx in the next 2 years?

Neel Shah

executive

#20

Right now, we are first of all target [Foreign Language]

Unknown Analyst

analyst

#21

Okay. Sir, my question is [Foreign Language]

Neel Shah

executive

#22

[Foreign Language]

Unknown Analyst

analyst

#23

Okay, sir. but last few questions I have, if you just allow me.

Neel Shah

executive

#24

Okay, sir, carry on.

Unknown Analyst

analyst

#25

[Foreign Language]

Neel Shah

executive

#26

Right now, it's a -- market, because of the geopolitical -- because the main product we were aiming in our product in SMC and FRP. [Foreign Language]

Unknown Analyst

analyst

#27

[Foreign Language]

Neel Shah

executive

#28

[Foreign Language]

Unknown Analyst

analyst

#29

[Foreign Language]

Neel Shah

executive

#30

[Foreign Language]

Unknown Analyst

analyst

#31

Last question on our buffering cycle. [Foreign Language]

Neel Shah

executive

#32

Actually, it's sustainable, 40 to 45 days actually [Foreign Language]

Operator

operator

#33

[Operator Instructions] Next question is from the line of Ashish from Capital.

Unknown Analyst

analyst

#34

Very good results and congratulations to you for that. [Foreign Language]

Neel Shah

executive

#35

[Foreign Language]

Unknown Analyst

analyst

#36

[Foreign Language]

Neel Shah

executive

#37

Yes.

Unknown Analyst

analyst

#38

[Foreign Language]

Neel Shah

executive

#39

Right now, we are focusing on debt, but [Foreign Language]

Unknown Analyst

analyst

#40

[Foreign Language]

Neel Shah

executive

#41

[Foreign Language]

Operator

operator

#42

Next question is from the line of Kushal from Research.

Unknown Analyst

analyst

#43

Can you hear me?

Neel Shah

executive

#44

Yes.

Unknown Analyst

analyst

#45

[Foreign Language]

Neel Shah

executive

#46

[Foreign Language]

Unknown Analyst

analyst

#47

[Foreign Language]

Neel Shah

executive

#48

[Foreign Language]

Unknown Analyst

analyst

#49

[Foreign Language] You have like 60%, 70% sales in Gujrat. So currently [Technical Difficulty] [Foreign Language]

Neel Shah

executive

#50

[Foreign Language]

Unknown Analyst

analyst

#51

[Foreign Language]

Neel Shah

executive

#52

[Foreign Language]

Operator

operator

#53

Next question is from the line of Priyansh Nidhi NGP Family Office.

Unknown Analyst

analyst

#54

Hope I am audible?

Neel Shah

executive

#55

Yes.

Unknown Analyst

analyst

#56

[Foreign Language]

Neel Shah

executive

#57

[Foreign Language]

Unknown Analyst

analyst

#58

[Foreign Language]

Neel Shah

executive

#59

[Foreign Language]

Unknown Analyst

analyst

#60

[Foreign Language]

Neel Shah

executive

#61

[Foreign Language]

Unknown Analyst

analyst

#62

[Foreign Language]

Neel Shah

executive

#63

[Foreign Language]

Operator

operator

#64

I request you to join back the queue, please, as we have participants waiting for their turn. Next question is from the line Darshil Jhaveri from Crown Capital.

Unknown Analyst

analyst

#65

[Foreign Language]

Neel Shah

executive

#66

[Foreign Language]

Unknown Analyst

analyst

#67

Okay. Okay. Fair enough. [Foreign Language]

Neel Shah

executive

#68

[Foreign Language]

Operator

operator

#69

Next question is from the line of Avi Jain from AJ Capital.

Unknown Analyst

analyst

#70

Hope I am audible?

Neel Shah

executive

#71

Yes, sir.

Unknown Analyst

analyst

#72

First of all, congratulations. I think we have over done what we have target from the [Foreign Language] I wanted to understand what are the planned working capital, because I think [Foreign Language] topline growth. I think that every year we would INR 50 crores to INR 60 crores of capital. funding but even the growth is a bit difficult. So -- further dilution or [indiscernible]

Neel Shah

executive

#73

[Foreign Language] we plan out after September onwards. [Foreign Language]

Unknown Analyst

analyst

#74

[Foreign Language]

Neel Shah

executive

#75

[Foreign Language]

Unknown Analyst

analyst

#76

[Foreign Language]

Neel Shah

executive

#77

[Foreign Language]

Operator

operator

#78

Next question is from the line of Rajesh from VTG Capital.

Unknown Analyst

analyst

#79

Congratulations on [indiscernible] So my question is related to 2000 If you can share some highlights or updates like what is happening in that front? And also are we going to have any collaboration with any MNC companies like EVV snider or any -- even companies or any system integration of -- data center or any other industry. So if you can just answer these two questions.

Operator

operator

#80

Rajesh, may I request you to mute, please, as background disturbance in your line.

Neel Shah

executive

#81

[Foreign Language]

Unknown Analyst

analyst

#82

[Foreign Language]

Neel Shah

executive

#83

[Foreign Language]

Operator

operator

#84

Next question is from the line of Deepankar from CCV...

Unknown Analyst

analyst

#85

Am I audible?

Operator

operator

#86

Yes.

Unknown Analyst

analyst

#87

Sir, revenue has more than doubled and so is the PAT for FY'26. So can you brief the mix between the volume growth and the price utilization of the company?

Neel Shah

executive

#88

[Foreign Language]

Unknown Analyst

analyst

#89

[Foreign Language]

Neel Shah

executive

#90

[Foreign Language]

Unknown Analyst

analyst

#91

Sir, one last question. [indiscernible] for FY'27?

Neel Shah

executive

#92

Pardon, [Foreign Language]

Unknown Analyst

analyst

#93

Can you expect any in our PAT margin for FY'27?

Neel Shah

executive

#94

[Foreign Language]

Operator

operator

#95

Next question is from the line of Shalin an individual investor.

Unknown Attendee

attendee

#96

Am I audible, sir?

Operator

operator

#97

Yes.

Unknown Attendee

attendee

#98

Yes, sir, I wanted to understand the CapEx that we -- In which segment are we doing? And how much the capacity -- how much revenue will we be able to generate after the CapEx...

Neel Shah

executive

#99

[Foreign Language]

Unknown Attendee

attendee

#100

Okay. Sir, my second question is that in the last Con Call [Foreign Language] what is the update on that?

Neel Shah

executive

#101

[Foreign Language]

Unknown Attendee

attendee

#102

[Foreign Language]

Neel Shah

executive

#103

[Foreign Language]

Operator

operator

#104

Next question is from the line of Anil an individual investor.

Unknown Attendee

attendee

#105

Just two, please. The first one is on -- it's a long-term question. So [Foreign Language] reach INR 1,000 crores, which is about 50% kind of revenue growth. But [Foreign Language] for the next 5 years, 10 years, what is the long-term goal for the company [Foreign Language] What kind of growth rate can we maintain after the INR 1,000 crores? That's the first question. And the second question is [Foreign Language] so which end market should grow? Is that -- I understand that it's more of a power sector, but is it like solar power or is it any other kind of power? And also are you trying to get into more end markets?

Neel Shah

executive

#106

[Foreign Language]

Operator

operator

#107

Next question is from the line of Naman Agarwal, an individual investor.

Unknown Attendee

attendee

#108

Sir, I have a question that -- at the time of IPO, we had appointed monitoring agency. My question is that report came that...

Operator

operator

#109

Naman, use you handset mode, please. Your audio is not clear. Use your handset mode, please.

Unknown Attendee

attendee

#110

[indiscernible]

Operator

operator

#111

No, it is muffled. Use your handset, please.

Unknown Attendee

attendee

#112

I'll join back the queue.

Operator

operator

#113

Next question is from the line of Girish from Sri Consultancy and Real Estate.

Unknown Analyst

analyst

#114

Am I audible?

Operator

operator

#115

Girish, please use your handset mode.

Unknown Analyst

analyst

#116

Am I audible now?

Operator

operator

#117

There is some disturbance. You can go ahead with your question.

Unknown Analyst

analyst

#118

Sir, my question is -- sir, can you please provide the current [indiscernible]

Operator

operator

#119

Girish, please mute your line.

Neel Shah

executive

#120

[indiscernible]

Operator

operator

#121

Girish, can you repeat your question, please. Use your handset mode.

Unknown Analyst

analyst

#122

Sure. [indiscernible]

Operator

operator

#123

Girish, I'm sorry to interrupt. There is a lot of background noise on your line. Can you move to a different room, please.

Unknown Analyst

analyst

#124

Now, am I audible?

Operator

operator

#125

Yes.

Unknown Analyst

analyst

#126

[indiscernible] [Foreign Language]

Neel Shah

executive

#127

[Foreign Language]

Unknown Analyst

analyst

#128

[indiscernible]

Operator

operator

#129

Girish, sorry, your line is again not clear.

Unknown Analyst

analyst

#130

[Foreign Language]

Neel Shah

executive

#131

In current date, we are planning -- around 450 to 500, but it depends on situation of all the by geopolitical and [indiscernible] [Foreign Language]

Unknown Analyst

analyst

#132

Okay. Okay, sir. And sir, in March [Foreign Language] what will be the expected execution time line and how much of the order book is likely to be executed in this year '27?

Neel Shah

executive

#133

[Foreign Language]

Operator

operator

#134

Girish, I request you to join back the queue. Next question is from the line of Sagar from Capside Advisors.

Unknown Analyst

analyst

#135

Congratulations for the great performance. I've got some technical questions. So basically, wanted to understand that -- see the presentation, there I see that citizen -- are upto 11 kV is being manufactured. So is there any plan to go up to 33 kV? And -- current transformers too?

Neel Shah

executive

#136

We are planning -- right now, the update our [indiscernible] And then after -- other products have in queue. So after that you see we add on. Otherwise, we have the plan in -- meter right now. [Foreign Language]

Unknown Analyst

analyst

#137

[Foreign Language]

Neel Shah

executive

#138

Yes.

Unknown Analyst

analyst

#139

[Foreign Language] dual certification to sell in the U.S.?

Neel Shah

executive

#140

Yes. U.S. 94 is not [Foreign Language] follow the procedure of product in that. [Foreign Language] [ UL1940 ], we required. Already, we follow -- compliant and -- We already follow that in FR television. So this is what happening in our exporting unit. So we plan in this to export. So we follow all the parameters.

Unknown Analyst

analyst

#141

Right. And what is the status of CR? So basically, CR is in-house manufactured or it is purchased from outside?

Neel Shah

executive

#142

What, sir?

Unknown Analyst

analyst

#143

CR04, this is part of the -- transformers. So manufacturing in-house or it is externally -- so basically, you're externally dependent?

Neel Shah

executive

#144

Right now, we are externally dependent. Actually, we are -- in further company Korea, China, Japan, Taiwan, all that are providing the cores and all that.

Unknown Analyst

analyst

#145

Right. So you don't see any issue in receiving and importing those cores to India for manufacturing considering the current situation?

Neel Shah

executive

#146

It will not [Foreign Language]

Operator

operator

#147

We will take our next question from the line of Rajender Verma, an individual investor.

Unknown Attendee

attendee

#148

Congrats for the good set of number. [Foreign Language]

Neel Shah

executive

#149

[Foreign Language]

Unknown Attendee

attendee

#150

[Foreign Language]

Neel Shah

executive

#151

[Foreign Language]

Unknown Attendee

attendee

#152

[Foreign Language] INR 2 crores per day?

Neel Shah

executive

#153

[Foreign Language]

Unknown Attendee

attendee

#154

[Foreign Language]

Neel Shah

executive

#155

[Foreign Language]

Unknown Attendee

attendee

#156

[Foreign Language]

Neel Shah

executive

#157

[Foreign Language]

Operator

operator

#158

As there are no further questions, I now hand the conference over to Dhruvi Mandaria from EquiBridgeX Advisors.

Unknown Analyst

analyst

#159

On behalf of Indo SMC Limited and EquiBridgeX Advisors, I would like to thank everyone for taking the time to join today's conference call. Should you have any further queries, please feel free to connect with us at info@equibridgex.com. Thank you once again.

Operator

operator

#160

Thank you. On behalf of EquiBridgeX Advisors Private Limited, that concludes this conference. Thank you for joining us, and you may now disconnect your lines.

Neel Shah

executive

#161

Thank you, ma'am.

Operator

operator

#162

Thank you, sir.

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