Sangli, November 13th, 2025: Quality Power Electrical Equipments Limited (“Quality Power” or the “Company”), one of India’s leading entities in critical energy, transition equipment and power technologies, today approved the financial results for the quarter ended September 30, 2025.
Q2 and H1 FY2026 Financial Performance Summary (Consolidated)
|
Rs. in Mn. |
Q2 FY26 |
Q2 FY25 |
Y-o-Y (%) |
Q1 FY26 |
Q-o-Q (%) |
H1 FY26 |
H1 FY25 |
Y-o-Y (%) |
|
Total Revenue |
2,189 |
1,031 |
112.4% |
1,941 |
12.8% |
4,130 |
1,827 |
126.0% |
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
878 |
456 |
92.5% |
865 |
1.5% |
1,720 |
909 |
89.3% |
|
Gross Margin% |
40.1% |
44.3% |
|
44.6% |
|
41.7% |
49.7% |
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA |
494 |
168 |
193.4% |
484 |
2.0% |
977 |
586 |
66.7% |
|
EBITDA Margin% |
24.0% |
17.8% |
|
27.4% |
|
25.5% |
37.6% |
|
|
|
|
|
|
|
|
|
|
|
|
PBT |
443 |
141 |
213.2% |
443 |
0.0% |
886 |
548 |
61.5% |
|
PBT Margin% |
20.2% |
13.7% |
|
22.8% |
|
21.5% |
30.0% |
|
Mr. Bharanidharan Pandyan, Joint Managing & Whole-time Director, said:
“The global high-voltage industry continues to expand on the back of the energy transition, renewable integration, and grid modernization. While capacity additions remain strong worldwide, constraints in engineered electrical components are creating long-term opportunities in advanced high-voltage technologies. Quality Power is capitalizing on this momentum through strong international order inflows, deeper technology integration, and disciplined execution. Our ongoing investments in automation, technology, and processes are enhancing product reliability, manufacturing agility, and competitiveness across global markets.”
Technology & Business Momentum
Quality Power recorded another quarter of robust performance, driven by growth in HVDC and FACTS projects. Significant international orders were secured across utilities, renewable developers, data centres, and industrial networks, reinforcing the company’s position as a global technology partner in grid stability and power-quality systems. The consolidated order book stands at approximately ₹ 830 crore, providing strong visibility and diversification across continents.
Strategic Developments Advancing GIS Technology:
Group subsidiary Mehru Electrical & Mechanical Engineers Pvt Ltd. entered a landmark co-development partnership with Hyosung T&D India Ltd., a subsidiary of Hyosung Heavy Industries Corporation, Korea. This collaboration enables joint design and manufacturing of Gas-Insulated Switchgear (GIS) instrument transformers, making Mehru one of the first Indian companies to co-develop GIS technology for global markets. The initiative opens opportunities in metro rail, offshore wind, and urban transmission systems.
Digital and Smart Systems:
Quality Power increased its stake in Nebeskie Labs Private Limited to 26 percent, strengthening its digital capabilities in edge computing, AI analytics, and IoT-enabled condition monitoring. Nebeskie’s digital platforms are becoming key enablers of intelligent substations and next-generation grid automation.
Capacity and Integration Programs:
· The Global Coil Factory at Kupwad MIDC, Sangli remains ahead of schedule, with commissioning targeted before June 2026.
· The Cochin expansion will go live in December 2025, increasing dry-type coil capacity.
Mehru’s Bhiwadi continues phased upgrades, aiming for a 45 percent capacity increase by April 2026.
· A new magnet-wire manufacturing line, integral to the company’s HVDC and FACTS value chain, is under implementation as part of the backward-integration initiative.
These programs enhance supply-chain security, reduce lead times, and strengthen the company’s ability to deliver complex engineered components globally.
Operational Highlights
Operational discipline and focus on export-led growth supported margin expansion during the quarter.Mehru Electrical achieved nearly 12 percent EBITDA margin, driven by high-voltage export orders and improved realization. Excluding one- time provisions, profitability across group entities remained strong, reflecting consistent demand and process optimization.
Outlook
With a healthy order pipeline and sustained global demand for grid modernization, Quality Power expects continued growth momentum.
The company’s near-term strategic priorities include:
· Scaling manufacturing for HVDC and FACTS components,
· Expanding offerings within the GIS ecosystem,
· Deepening backward integration of critical materials,
· Pursuing inorganic opportunities in high-voltage and power-electronics domains, and
· Strengthening collaborative technology partnerships with global OEMs and utilities.
“Our focus remains on building technology depth, integrating digital intelligence into every product, and positioning India as a global hub for advanced high-voltage systems,” Mr. Pandyan added.
