Susan Electricals India delivered a significant financial turnaround in its Q1FY27 results, shifting from a net loss to profitability while posting substantial revenue growth. The company reported net profit of ₹639.13 lakh for the quarter, compared to a net loss of ₹41.55 lakh in the corresponding period of the previous fiscal year.

Revenue growth was pronounced, with top-line figures rising to ₹9,535.68 lakh from ₹2,516.31 lakh year-on-year. The surge in revenue coincided with the return to profitability, indicating improved cost management and a higher-margin sales mix during the period. Operating profit expanded sharply 980.20% to ₹1,137.34 lakh, reflecting better operational efficiency.

Strategic product mix shift

The improvement in margins is attributed to a strategic shift in the product mix toward higher-value cable products. In Q1FY27, LT Cables and Conductors contributed 65.68% of revenue, up from 46.70% in Q1FY26. HT Cables and MVCC share rose to 7.11% from 2.07%. Conversely, the share of Winding Wire declined to 24.39% from 47.74%.

Management stated that this transition supports further improvement in EBITDA per unit and overall profitability. During the earnings call, Chairman Vishal Jain outlined specific margin profiles for each segment in Q1FY27:

• LT cables and conductors: Approximately 6.5% EBITDA margin
• HT cables: Approximately 7% EBITDA margin
• Winding wires: Approximately 24.39% EBITDA margin

The company aims to increase the contribution of HT and MVCC cables, which currently constitute roughly 5-10% of revenue, to approximately 50% by the end of FY27. The expected FY27 revenue mix is projected to be roughly balanced at ~30-35% each across HT/MVCC, LT/conductors, and winding wires.

Order book and capacity expansion

Susan Electricals reported an order book of approximately ₹142.39 crore as of June 30, 2026, providing strong near-term revenue visibility. Additionally, an active order pipeline of approximately ₹150 crore offers further visibility for sustained growth, bringing total order visibility to ₹292 crore.

The order-book mix comprises ~30% HT cables + MVCC, ~35% LT cables & conductors, and ~35% winding wires, with a split of roughly 50:50 between government/DISCOMs and private/EPC customers. The company regularly bids for tenders worth ₹800-1,200 crore, expecting a conversion rate of 15% to 20%.

The company is proceeding with capacity expansion plans, targeting commercial operations from February 2027. This expansion will add 4,500 km per annum of capacity, increasing installed capacity from 7,500 km to 12,000 km per annum, representing a 60% increase. The planned capex for FY27 is estimated at ₹15 crore to ₹20 crore, primarily towards machinery and expansion-related requirements.

What the numbers show

The simultaneous jump in revenue and swing to profit highlights a significant efficiency gain. With revenue nearly quadrupling while moving from a loss to a healthy profit position, the company appears to have leveraged economies of scale or benefited from favorable pricing dynamics in the quarter. The operating margin improved 774 basis points to 11.90% from 4.18%, while PAT margin turned positive at 6.70% from -1.65%.

A key divergence lies in the segmental margins versus revenue contribution. While Winding Wires command the highest EBITDA margin at ~24.39%, their revenue share dropped significantly to 24.39%. Conversely, LT cables, with a lower margin of ~6.5%, dominate revenue at 65.68%. The management’s strategy to shift revenue weight toward HT/MVCC cables (targeting 50% share) aims to balance volume with higher value-addition, potentially lifting blended margins further as operating leverage scales.

Susan Electricals India Limited has published the audio recording of its earnings call for the quarter ended June 30, 2026. The company hosted the digital conference with analysts and investors on Wednesday, August 19, 2026, at 4:00 pm to discuss its unaudited financial results for Q1FY27.

The recording is accessible via the company's official website. Susan Electricals submitted the link to the BSE Limited on August 20, 2026, adhering to Regulation 30(6) read with Schedule-III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Filing Details

The submission was signed by Reshma Shukla, Company Secretary & Compliance Officer of Susan Electricals India Limited. The document confirms that the audio file is hosted on the company's investor relations portal.

Investors seeking to review management commentary on the quarterly performance can access the recording through the provided web link on the corporate site.