Trishakti Industries Limited placed a ₹105.39 crore purchase order with XCMG for 60 units of heavy lift and aerial work platforms (AWPs). This move aims to broaden the company's equipment portfolio across heavy-lift and work-at-height categories, aligning with demand from infrastructure, renewable energy, steel, and industrial customers.

The order, disclosed on September 28, 2026, comprises 11 crawler cranes, ten truck-mounted cranes, and 39 articulated boom lifts. The acquisition forms part of the company's remaining CapEx programme of approximately ₹130–140 crore under a cumulative ₹400 crore plan.

Order composition and strategic alignment

The purchased units are designed to serve different phases of project lifecycles. Crawler cranes will target wind, refinery, and large industrial projects, while truck-mounted cranes will support metro, highway, and steel plant work. The articulated boom lifts are intended for industrial maintenance and work-at-height applications.

Fleet expansion and utilisation metrics

This order supports Trishakti's plan to expand its fleet to 200+ units by FY27. As of the Q1 FY27 earnings call in July 2026, the fleet stood at approximately 155–158 machines. The addition of 60 units brings the net fleet size to approximately 230 units, exceeding the initial target.

The company sustained approximately 100% fleet utilisation through FY26 and Q1 FY27. Management indicated an executable order book of approximately ₹70–72 crore for FY27. Dhruv Jhanwar, Chief Executive Officer, stated that the balanced mix of equipment is central to sustaining high fleet utilisation as the company scales.

Industry backdrop and vertical focus

India's infrastructure investment provides a favourable backdrop for specialised equipment rental. Public capital expenditure under the Union Budget for FY2026-27 stood at approximately ₹12.2 lakh crore, compared with ₹11.2 lakh crore in FY2025-26.

Trishakti's fleet is deployed across Renewable Energy, Infrastructure & EPC, Steel & Industrials, Railways & Government, and Oil, Gas & Power. Renewable Energy is the largest single vertical, accounting for approximately 48% of the deployed fleet as of FY26. Customers increasingly prefer renting specialised lifting equipment to avoid upfront capital outlay, depreciation, and maintenance obligations.

Trishakti Industries Limited reported a significant jump in net profit for the first quarter of fiscal year 2027. The company clocked a net profit of ₹4.30 crore, marking a 372% increase from ₹0.91 crore in the corresponding quarter last year. Revenue from operations also saw substantial growth, rising to ₹14.38 crore from ₹4.08 crore in Q1FY26.

The company re-submitted its unaudited standalone and consolidated financial results to the BSE on September 25, 2026. This action followed a query from the exchange regarding the absence of a valid director's signature on the initial filing. Trishakti clarified that the results were duly signed by Mr. Dhruv Jhanwar, Whole-time Director, and subsequently resubmitted with proper name and designation details via the BSE Listing Centre.

Financial Performance Overview

The surge in profitability was driven by higher operational revenue and improved other income streams. While employee benefits and finance costs increased, the overall margin expansion contributed to the strong bottom-line performance.

What the Numbers Show

A distinct divergence is visible between operating growth and non-operating income. While revenue from operations grew significantly, Other Income rose from a negligible ₹0.02 crore in Q1FY26 to ₹2.42 crore in Q1FY27. This non-operating component accounted for approximately 14% of total revenue and nearly half of the pre-tax profit, indicating that a substantial portion of the quarter's earnings uplift was driven by non-core activities rather than just equipment leasing operations.

Segment and Compliance Details

Trishakti Industries operates as a single segment entity, primarily engaged in leasing and renting heavy earth-moving equipment such as cranes and Aerial Work Platforms. The company noted that no other ancillary activities met the quantitative thresholds for separate segment reporting under Ind AS 108.

The statutory auditors, G. Basu & Co., issued an unmodified review conclusion on the financial statements. The company also disclosed that it continues to monitor the impact of the New Labour Codes notified by the Ministry of Labour & Employment in November 2025, though no material accounting impact has been recognized yet.