Msafe Equipments targets 50% revenue growth in FY27
Msafe Equipments Ltd reported a 45.08% increase in FY26 revenue to ₹10,349.96 lakh and a 72.33% rise in PAT to ₹2,242.02 lakh. The company targets 50% revenue growth in FY27, supported by capacity expansion in MS and aluminium scaffolding and a new foray into the formwork segment. An analyst meeting was held on June 23, 2026, to discuss these financial results and strategic updates.
*this image is generated using AI for illustrative purposes only.
Msafe Equipments Ltd has reported a 45.08% increase in revenue from operations to ₹10,349.96 lakh for FY26, compared to ₹7,134.07 lakh in FY25. Profit after tax (PAT) for the period rose by 72.33% to ₹2,242.02 lakh, while EBITDA grew 56.72% to ₹4,086.75 lakh. The company is targeting at least 50% revenue growth in FY27, driven by capacity expansion and a foray into the formwork segment.
Financial Performance
The company’s EBITDA margin for FY26 stood at 39.49%, while the PAT margin was 21.66%. Return on equity (ROE) was reported at 36.27%, and return on capital employed (ROCE) was 24.32%. The financial performance reflects a compound annual growth rate (CAGR) of 51.6% in revenue, 64.5% in EBITDA, and 83.1% in PAT over the period from FY23 to FY26.
| Fiscal Year | Revenue (₹ in lakh) | EBITDA (₹ in lakh) | PAT (₹ in lakh) |
|---|---|---|---|
| FY23 | 2,969.77 | 918.89 | 364.74 |
| FY24 | 4,813.09 | 1,511.50 | 655.18 |
| FY25 | 7,134.07 | 2,607.75 | 1,301.21 |
| FY26 | 10,349.96 | 4,086.75 | 2,242.02 |
Business Operations and Expansion
Msafe Equipments operates an asset-backed rental model alongside manufacturing and sales of scaffolding and access equipment. The company served over 2,500 customers in FY26 across infrastructure, construction, and industrial maintenance sectors. It currently operates 21 warehouses across India and plans to increase network density from 500 km to 150 km to improve service efficiency.
The company has successfully expanded its MS scaffolding capacity by 30 lakh units through temporary rented facilities, significantly ahead of schedule. It is also expanding its aluminium scaffolding capacity by 10 lakh units, bringing the total post-expansion capacity to 25.12 lakh units. Additionally, Msafe has forayed into the formwork segment with a planned capacity expansion of 500 tonnes, marking a shift towards integrated structural equipment solutions.
Investor Conference
The company held a meeting with analysts and institutional investors on June 23, 2026. The event was conducted by India Inc. Unplugged by Phillip Capital – Private Client Group. No unpublished price sensitive information was shared during the meeting, and the investor presentation is available on the company's website.
Historical Stock Returns for Msafe Equipments
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.83% | -0.20% | +23.57% | +29.74% | +29.74% | +29.74% |
How will the shift into the formwork segment impact the company's overall profit margins compared to its traditional scaffolding business?
What specific capital expenditures are required to achieve the targeted network density reduction from 500 km to 150 km?
Can the company sustain its current ROE of 36.27% as it scales capacity and increases its rental asset base?
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