April-listed Powerica posts 226% YoY Q3 PAT growth; repays Rs 525 crore debt post IPO
Powerica shares made their stock exchange debut on April 2 at a discount of 7.3% at Rs 366 on the NSE against the IPO price band of Rs 375 to Rs 395 per share. However, the stock has recovered from the discounted price and is now trading at Rs 467, which is an 18% uptick over the issue price.
For 9MFY26, the company’s profit after tax (PAT) stood at Rs 232 crore, recording a 74% rise over Rs 135 crore reported in the same period of the last financial year.
The company’s margin expanded by 190 bps to 33% in the reporting quarter versus 31.1% in the year ago period.
The company filing said that its nine-monthly performance remains the highest ever across all metrics.
Revenue contribution from the generator set segment for 9MFY26 stood at 81.8% versus 83.7% in 9MFY25. DG Sets powered by Cummins Engines contributed 63.7% in Q3 versus 70% in the year ago period.
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Commenting on the results, Bharat Oberoi, Chairman & Managing Director said the listing on the public markets represents a significant step forward for Powerica and the company is excited about the journey ahead.
“Following the IPO, the company has repaid approx. INR 525 Crs of its borrowings in Q1FY27 and hold cash & investments close to INR 450 Cr as on (17-Apr-26). As a result, substantial reduction is expected in the finance cost from Q1 FY27. During Q3FY26, we achieved a revenue of INR 762.93 Cr, with an EBITDA margin of 10.4% and a PAT margin of 12.8%. For the 9MFY26, we recorded revenue of INR 2,210.37 Cr, an EBITDA margin of 13.6%,
and a PAT margin of 10.5%,” Oberoi said.
Powerica IPO
Powerica is an integrated power solutions provider focused on diesel generator (DG) sets for primary and backup applications, alongside a growing wind power business as an IPP and EPC player. Established in 1984, it expanded into medium-speed large generators (MSLG) in 1996.
The company has a long-standing partnership with Cummins India and collaborates with HD Hyundai Heavy Industries for MSLG offerings.
Rs 1,100 crore Powerica IPO was a book build issue which was a combination of a fresh issue of 1.77 crore shares aggregating to Rs 700.07 crores and an offer for sale (OFS) of 1.01 crore shares aggregating to Rs 399.93 crores. The bidding happened between March 24 and 27.
The company managed to get fully subscribed 1.45 times with retail portion receiving a lackluster response with just 15% subscription. However, the Qualified Institutional Buyers(QIBs) responded positively as the quota was booked 4.5 times.
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