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Snowball Effect ๐ retweeted
Karamtara Engineering Q2FY27 Results -
๐ถBusiness Model
Karamtara manufactures the structures and components required to build solar power plants, wind installations and electricity transmission networks
=> Solar energy projects
=> Electricity transmission networks
=> Wind energy infrastructure
=> Industrial application
Karamtara's product portfolio comprises:
๐นSolar: Module mounting structures, tracker piles, piers and torque tubes.
๐นTransmission: Lattice towers, structural steel profiles and transmission infrastructure.
๐นWind: Angular and tubular wind towers.
๐นFasteners & fittings: Bolts, nuts, foundation bolts and conductor-insulator fitting
๐ถSolar โ Growth Engine
Solar products contributed approximately 71% of Q2FY27 revenue and 75% of H1FY27 revenue.
It manufactures both fixed-tilt and tracker-based structures. With increasing solar installations globally, demand for mounting structures and tracker components provides a significant opportunity.
Karamtara positions itself as India's largest integrated manufacturer in solar mounting structures and tracker components.
๐ถTransmission & Wind
Transmission lattice towers contributed 21% of Q2 revenue and 17% of H1 revenue.
These towers support high-voltage transmission lines and electricity grid infrastructure.
The company also manufactures angular and tubular wind towers.
๐India's expanding power demand, renewable energy integration and grid infrastructure investments create a favourable long-term opportunity for these businesses.
๐ถManufacturing Capabilities & Capacity
One of Karamtara's biggest competitive advantages is its integrated manufacturing ecosystem. As of September 30, 2026:
โข Solar: 527,600 MTPA
โข Transmission Line Towers: 195,000 MTPA
โข Tubular Wind Towers: 126,000 MTPA
โข Fasteners: 30,000 MTPA
Additional capacities:
โข Structural Steel Profiles: 168,000 MTPA
โข Galvanizing: 420,800 MTPA
๐ถManufacturing Expansion
Karamtara operates 13 manufacturing facilities and has a presence across 50+ countries.
Its manufacturing footprint includes Tarapur & Nagpur (Maharashtra), Bhachau (Gujarat) and Italy.
The company is also setting up a manufacturing facility in Saudi Arabia for solar products, lattice towers and PEB. Additional expansion plans include solar stamping parts and structural steel profiles.
๐ถQ2FY27 Financial Performance
Revenue increased 62% YoY to Rs. 1,647 CR, EBITDA increased by 46% & PAT by 37%.
EBITDA margin declined from 13.2% to 11.9%.
PAT margin declined from 6.8% to 5.7%.
Finance costs increased approximately 55% YoY to โน47.9 Cr.
๐The key takeaway: Strong topline growth, but the company needs to demonstrate better operating leverage and profitability as it scales.
๐ถCash Flow & Balance Sheet
H1FY27 cash flow:
โข Operating Cash Flow: Rs. 11.4 CR
โข Investing Cash Flow: -Rs. 52.4 CR
โข Financing Cash Flow: Rs. 61.4 CR
Operating cash flow declined from Rs. 29.3 CR in H1FY26 despite strong revenue and profit growth.
Total debt stood at approximately Rs. 1,004 CR versus Rs. 1,030 CR in FY26.
The company is investing in manufacturing expansion, but cash flow conversion needs improvement.
๐ถNew Opportunities โ BESS, PEB & Solar Stamping
Beyond its existing portfolio, Karamtara is expanding into additional product categories:
โข Solar Stamping Parts
โข Prefabricated Engineered Buildings (PEB)
โข Battery Energy Storage Systems (BESS)
These products can potentially increase its addressable market and customer wallet share.
๐ถDefence & Aerospace โ A New Optionality
The company has proposed a wholly owned subsidiary, Karamtara Defence & Aerospace Limited.
The objective is to explore manufacturing, engineering, technology development and R&D opportunities in defence and aerospace.
The rationale is to leverage its existing engineering and manufacturing capabilities.
However, product selection is under evaluation, capex plans are not finalised and investments will depend on technical feasibility and commercial viability.
Karamtara is evolving from a transmission tower manufacturer into a diversified engineering and manufacturing platform for renewable energy and power infrastructure.
However, three important parameters deserve attention:
=> Recovery in EBITDA margins.
=> Improvement in operating cash flow and working capital.
=> Returns from ongoing capacity expansion
๐ฅDisclaimer:This post is for educational and study purposes only. Please do not consider it as a Buy/Sell recommendations.
@Dynamicinvstr @vishan_29
I have 2 years of monthly expenses , some passive incomes from shops ( adding more ) that said I am planning to upskill and start a business as well
There is something wrong with KRN Heat Exchanger Stock , something is going surely in it a lower circuit today .
I will be staying away from it as of now .
Snowball Effect ๐ retweeted
KSH International is riding a powerful transformer and grid-infrastructure cycle. But the bigger story is its global ambitions. ๐ฅ
Q2 FY27 revenue surged 85% YoY to โน1,320 Cr, volumes grew 26% to 8,842 MT, EBITDA rose 96% to โน90 Cr and PAT increased 62% to โน48 Cr.
Exports are becoming a key growth engine: revenue grew 108% YoY, taking their contribution to 32%. Management wants to take this back towards 40% over the next 1-2 years.
The specialised wire business remains the backbone, supported by strong T&D demand. Power Grid approval for 765 kV applications and a trial order for two overseas HVDC transformers open doors to higher-value opportunities.
Capacity is keeping pace. Phase 1 & 2 are 96% complete, taking installed capacity to 57,845 MT. A further โน185 Cr Phase 3 expansion will take it to 72,200 MT by Q1 FY29.
But there are important caveats.
Q2 EBITDA/tonne of ~โน1.01 lakh is not the sustainable benchmark. Management pegs long-term EBITDA/tonne at โน85,000 as product mix normalises with standard wire ramp-up.
The Hitachi five-year framework agreement still lacks finalised volumes and economics. HVDC is at trial stage, EV contribution is long-dated (FY29 onwards), and Phase 3 utilisation is expected to reach ~85% only by FY30-31.
The balance sheet is improving too: H1 operating cash flow was positive at โน43 Cr, debt fell to โน341 Cr and working capital days improved to 52.
The key will be converting customer qualifications into repeat orders, ramping capacity profitably and sustaining cash generation, not extrapolating one exceptional quarter.
No reco.
๐ซก
๐๐ ๐๐๐๐ ๐๐๐๐ ๐ ๐๐๐๐๐ ๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐ ๐ ๐๐๐๐๐๐ ๐
Ronaldo helped deliver some of the greatest nights in Portuguese football history โจ
Three trophies, endless memories and a place in his countryโs heart forever ๐ต๐น
There are days I felt my Job is taking over my personal life , and even thinking of it during Saturday and Sunday .
The moment I quit , itโs a very simple issue in a whole life . Workplace pressure is not a simple thing to ignore .
Snowball Effect ๐ retweeted
Very true if you take risk you will earn or learn zero feeling of regert and that's okay but no taking risk and when we saw good things happing the regret feeling is worst. And can break our confidence. So take risk Little, big as your soul want and keep going.
Snowball Effect ๐ retweeted
Timex is attempting to transform itself from a watch seller into a much larger multi-brand, multi-channel platform ๐ฅ
Q2 FY27 suggests the strategy is gaining traction.
Revenue grew 47% YoY to โน359 crore, while EBITDA rose 54% to โน66 crore. Growth was broad-based: Timex grew 67%, Guess 57%, and e-commerce revenue jumped 75% to โน190 crore, contributing nearly 53% of total revenue.
๐ธ But the next phase is about scaling the business
The company plans to add around 40 stores in FY27, 80 in FY28 and 70-80 in FY29, largely through a franchise-led model.
Its entry-level TMX brand is targeted for 2-3x growth, with a stronger push from 2027.
It is also exploring an entry-level Swiss brand, with more details expected in 3-4 months.
๐ธ Manufacturing is another growth lever
Baddi's existing 6-million-watch capacity is nearly fully utilised. A second facility, planned by May 2027, is expected to double capacity to 12 million watches.
Guess watches are expected to begin local assembly from April 2027, while the company is also expanding its product portfolio through new collections, including Guess Collection Swiss watches.
๐ธ The industry backdrop is supportive
Analog watches are growing 14-15%, and management estimates India's watch penetration at only 15-16%.
The opportunity is particularly attractive in the โน2,000-10,000 segment.
๐ธ What about guidance?
Management sees the potential for EBITDA margins to reach around 20%, compared with approximately 17.5% in H1 FY27.
It also emphasised that growing absolute EBITDA matters more than chasing margin percentages.
๐ธ The risks deserve attention
Gross product margin declined 1.1 percentage points YoY amid currency and commodity-cost pressure.
Movement supply remains constrained, inventory stood at โน358 crore and receivables rose to โน120 crore, despite a reported 19 day DSO.
No reco. DYDD.
Timexโs Turnaround - From Losses to Luxury ๐ฅ
A few years ago, Timex India was a struggling, loss-making watch company.
Today, it is transforming into a multi-brand premium and luxury watch platform.
๐ถ๏ธ From one brand to a complete portfolio
Timex now covers almost every price point:
โข โน500 watches โ โน2 lakh+ luxury watches
โข Its portfolio now includes Timex, Guess, GC, Versace, Ferragamo, Philipp Plein and Aston Martin
The strategy is simple: capture the customer at โน1,000 and retain them as they move towards premium and luxury products.
๐ถ๏ธ Guess has become a major growth engine
โข Guess grew 51% in FY26 and its contribution has risen to around 17.5% of Timex India's business, versus just 3-4% a few years ago.
โข The company has also doubled Guess distribution to 800 POS and plans to start manufacturing select high-volume Guess watches in India.
๐ถ๏ธ Distribution is a major advantage
โข Timex already has 6,000+ retail touchpoints across 400+ cities, along with 40 exclusive stores
โข It is also expanding through e-commerce and quick commerce, allowing new brands to leverage an existing distribution network
๐ถ๏ธ Capacity is being built for the next phase
โข The Baddi facility currently produces 6 million units
โข A โน10 Cr capex is expected to increase capacity to 10 million units, with infrastructure capable of supporting 15 million units
โข Even better, the retail expansion follows a franchise-led, low-capex model
๐ถ๏ธ Timex is riding India's premiumisation wave
โข The sub-โน10,000 category alone has an estimated addressable market of 400 million consumers
โข At the same time, the watch segment above โน25,000 is growing at 27%+, versus ~11% growth for the below-โน25,000 segment
Timex is positioned across both volume at the bottom and premiumisation at the top.
But the key risks remain: sustaining growth from a larger base, intense competition from Titan, margin sustainability, dependence on licensed international brands and execution of manufacturing expansion.
In simple words: Timex's story is no longer just about selling more watches. It is about selling better brands, at higher price points, through a wider network while becoming more profitable and almost debt-free.
Src - Systematix
Follow @vishan_29 for more updates.
๐ด Disclaimer: No recommendation. For educational purposes only.
@VK_FinGrowth Vinay bhai starts and ends the day with gold he is gold mafia ๐
Groww moving towards ATH, I will sell this stock above 10 Lakh Market Cap one day .
Trusting Indian broking industry