Yash Highvoltage has performed a Vastu Pujan ceremony at its new manufacturing facility in Vadodara, signaling significant progress in its expansion project funded by IPO proceeds. The company is advancing towards operational readiness for the production of Resin Impregnated Paper (RIP) and Resin Impregnated Synthetic (RIS) transformer condenser graded bushings. The facility, located at Plot No. 32-A, Suncity Industrial Park, Village Haripura, Taluka Savli, District Vadodara, represents a critical step in the company's capacity enhancement efforts.

The ceremony on Monday, 25th May, 2026, follows the earlier Bhoomi Pujan and commencement activities. It was conducted in view of the completion and execution of substantial work at the new site. The project aims to bolster the company's manufacturing capabilities for specialized electrical components.

Construction of the office building at the new site has been completed. The company has procured all major production and testing equipment, which are currently under the stage of commission and installation. The process of installing the necessary plant and machinery is currently underway.

Peripheral infrastructure and development work at the facility are in the final stages of execution. The company expects to finalize the commissioning process, along with related installation and developmental activities, by the end of the first quarter of FY 2026-27. Consequently, trial production is scheduled to commence during the second quarter of FY 2026-27.

Project Status Overview

Yash Highvoltage Limited reported strong financial results for the year ended March 31, 2026, with revenue from operations surging 57% year-on-year to ₹235.16 crores. Profit after tax (PAT) for the period increased by 75% to ₹37.34 crores, while EBITDA grew 75% to ₹60.4 crores, expanding margins by 260 basis points to 25.7%. The company’s order book stands at over ₹400 crores, providing robust execution visibility for the next 12 to 24 months.

Consolidated Financial Performance

The company delivered record growth across key consolidated metrics. The following table details the audited financial performance for the half-year and full-year periods:

Basic earnings per share (EPS) for the full year stood at ₹13.08, compared to ₹8.94 in the previous year. CFO Sumit Poddar confirmed that the statutory auditor issued an unmodified opinion on both standalone and consolidated results.

Strategic and Operational Updates

Management highlighted that the Greenfield expansion project is in its final stage, with civil work substantially complete and commercial production targeted for H2 FY27. The facility is designed to manufacture Resin Impregnated Paper (RIP) bushings up to 550 kV, reducing import dependency. The company has also expanded its design capability from 220 kV to 550 kV.

On the international front, the wholly-owned subsidiary Yash HV USA is now operational, and distribution partnerships with Widemann and Electrolink are active across select European and UK markets. The acquisition of Sukrut Electric Company Private Limited has been closed, with management focusing on operational stabilization to drive future growth.

Balance Sheet and Cash Flow

The balance sheet reflects a strong asset base, with total assets growing to ₹26,441.84 Lakhs from ₹20,405.52 Lakhs in the previous year. The company maintains a debt-to-equity ratio of 0.17 times. Net cash from operating activities for the year stood at ₹882.02 Lakhs, while net cash used in investing activities was ₹1,486.30 Lakhs, primarily due to capital expenditure of ₹5,920.15 Lakhs on property, plant, and equipment.

Exceptional Items and Audit

An exceptional item of ₹2.10 crore was recorded relating to a cyber fraud incident involving a vendor based in China. The matter has been reported to the National Cyber Crime Reporting Portal and the police. The transition to Indian Accounting Standards (Ind AS) was completed during the year, with the auditor issuing an unmodified opinion.