Yash Highvoltage reports 57% revenue growth, declares ₹1.40 dividend at AGM
- Revenue grew 57% to ₹235 crore while PAT rose 75% to ₹37 crore in FY26
- EBITDA margins expanded 300 bps to 26%, reaching ₹60 crore
- Order book surged 166% to cross ₹400 crore
- Final dividend of ₹1.40 per equity share declared
- ₹151 crore raised via preferential equity issue and warrants
*this image is generated using AI for illustrative purposes only.
Yash Highvoltage Limited held its annual general meeting on September 3, 2026, where shareholders approved the audited financial statements for FY26 and a final dividend of ₹1.40 per equity share.
The Vadodara-based transformer bushing manufacturer reported strong financial performance for the fiscal year ended March 31, 2026. Revenue grew 57% to ₹235 crore, while EBITDA rose 74% to ₹60 crore. Profit after tax increased 75% to ₹37 crore.
Financial Performance
The company delivered significant margin expansion alongside top-line growth during FY26. The following table outlines the key financial metrics presented by the Chairperson:
| Metric | FY26 Value | YoY Growth | Margin | Margin Change |
|---|---|---|---|---|
| Revenue | ₹235 crore | 57% | - | - |
| EBITDA | ₹60 crore | 74% | 26% | +300 bps |
| PAT | ₹37 crore | 75% | 16% | +200 bps |
What the Numbers Show
EBITDA growth outpaced revenue expansion by 17 percentage points (74% vs 57%), driving a 300 basis point improvement in operating margins from 23% to 26%. This operational leverage indicates improved cost efficiency or favorable product mix as the company scaled production.
Order Book and Expansion
The order book crossed ₹400 crore, representing an approximate 166% increase over the previous year. Management highlighted progress on a greenfield facility in Vadodara, Gujarat, which will enhance manufacturing capability from 245 kV to 550 kV. The plant aims to localize RIP/RIS capacitive core manufacturing.
Strategic initiatives included acquiring a 50% stake in Sukrut Electric, operationalizing Yash HV USA Inc., and expanding agency partnerships with Weidmann and Electrolink across Europe and North Africa.
Capital Raise and Governance
To fund growth, the company completed a preferential issue of equity shares and convertible warrants aggregating approximately ₹151 crore. This followed shareholder approval at an extraordinary general meeting held on July 15, 2026.
The Board recommended re-appointment of Non-Executive Director Mrs. Twinkle Keyur Shah, who retires by rotation. Shareholders also ratified remuneration for cost auditors for FY27 and approved modified terms for the Yash Highvoltage Employees Stock Option Scheme 2025.
Attendance included Chairman and Managing Director Mr. Keyur Girishchandra Shah, CFO Mr. Sumit Poddar, and Statutory Auditors M/s. Shah Mehta & Bakshi. Independent Director Mr. Suril Saumil Mehta and Executive Director Mr. Gautam Nikam were absent.
Historical Stock Returns for Yash Highvoltage
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +9.95% | +12.79% | +13.79% | +134.54% | +122.22% | +268.41% |
How will the completion of the greenfield facility enabling 550 kV manufacturing impact Yash Highvoltage's competitive positioning against global transformer bushing suppliers?
What is the expected timeline for the localization of RIP/RIS capacitive core manufacturing, and how will this affect the company's cost structure and supply chain resilience?
Given the ₹151 crore capital raise, what are management's specific deployment priorities for these funds regarding capacity expansion versus working capital requirements?
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