Vilas Transcore Limited reported an 18.2% year-on-year increase in net revenue to ₹132.4 crore for the quarter ended June 30, 2026 (Q1FY27), driven by strong volume growth in its core CRGO lamination business despite falling input costs. The company filed the business update with the National Stock Exchange of India Limited on August 4, 2026, in accordance with Regulation 30 of the SEBI (LODR) Regulations, 2015. The revenue growth underscores the company’s ability to maintain market share and expand production even as CRGO prices dropped approximately 20% to around ₹190–195 per kg compared to the corresponding period last year.

Financial Performance

The financial results highlight a divergence between price realization and volume expansion. While CRGO prices softened, the company significantly ramped up production volumes, leading to overall top-line growth. The following table outlines the key financial and operational metrics for Q1FY27:

Net revenue grew by 18.2% YoY to ₹132.4 crore in Q1FY27. The CRGO Lamination segment, which has an installed capacity of 36,000 MTPA, contributed ₹127.6 crore to this total, registering an identical 18.2% YoY growth. Production volume for CRGO laminations stood at 6,550 MT during the quarter, reflecting a substantial 41.2% increase supported by healthy demand and improving capacity utilization.

Segment-wise Updates

Beyond its core business, Vilas Transcore saw contributions from newer product lines. The Nanocrystalline Core business, with an installed capacity of 240 MTPA, generated ₹3.3 crore in revenue from sales of approximately 28,194 kg. Customer acceptance and production ramp-up continued throughout the quarter, with management expecting further revenue increases as operations scale.

The Radiator business, which commenced commercial operations in late April 2026, contributed ₹1.2 crore in revenue from sales of approximately 119 MT. With an installed capacity of 7,200 MTPA, the company is currently onboarding new customers through product approvals. Management anticipates a meaningful ramp-up in this segment from H2FY27.

Additionally, installation and commissioning activities for the Copper Conductors facility (Phase I, 1,550–1,800 MTPA) progressed as planned. Trial production is scheduled to commence in September 2026, with commercial revenue contribution expected from H2FY27. The company also continues R&D efforts on High Voltage Bushings for the 12 kV–400 kV segment, expecting phased commercialization over the coming years.

Strategic Expansion

To support its long-term roadmap, Vilas Transcore acquired a land parcel along with a building adjacent to its Unit III manufacturing facility for ₹3.50 crore. Furthermore, the company purchased approximately 12 acres of nearby land for ₹5.56 crore to facilitate future capacity expansion. These acquisitions reinforce the company’s strategy to extend manufacturing operations at its Vadodara locations.

What the Numbers Show

The data reveals a clear volume-led growth strategy that successfully insulated top-line performance from deflating input costs. While CRGO prices fell by ~20%, the 41.2% surge in lamination volumes more than compensated, resulting in net revenue growth. This suggests strong underlying demand for transformer components and effective capacity utilization at the company’s facilities. Management remains optimistic about improving pricing environments, targeting 45%–50% revenue growth for FY27, aided by higher volumes and potential stabilization in CRGO steel prices.

Vilas Transcore Limited acquired land worth ₹5.56 Cr on June 29, 2026, to expand its manufacturing facilities and future business operations. The asset, located at Moje Gandhara, Ta-Karjan, Dist. Vadodara, was purchased to augment capacity and support the company's long-term growth strategy. The transaction involved a total area of 23.78 Guntha, with the consideration paid in full through banking channels.

The acquisition is not a related party transaction and has been entered into on an arm's length basis. The disclosure was made to the National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Details of Acquisition