Rishabh Instruments Limited — Investor Meet, 21-08-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Rishabh Instruments reported a strong Q1 FY26. Consolidated revenue grew 12.4% YoY to ₹190.3 Cr, with PAT surging 510% to ₹19.6 Cr and Adjusted EBITDA margin expanding to 15.9%. Rishabh India (Standalone) saw revenue up 17.3% to ₹61.8 Cr with a robust 24.5% EBITDA margin, driven by exports and operational efficiency.

A key highlight was the successful turnaround of Lumel Alucast, returning to profitability with ₹75.4 Cr revenue (up 10.3%) and a 10.2% EBITDA margin after prior losses. Management aims for a 75% non-automotive mix and 10-15% sustainable EBITDA here, though short-term volatility is possible.

Lumel SA's revenue was down 6.1% to ₹46.0 Cr, impacted by European defense spending shifts, but a new EUR 5 million multi-year contract should aid recovery. The company launched Solar UNO, a competitive inverter, and expanded capacity in India, including a new SMT line. Overall, management is confident in sustained profitable growth, focusing on R&D and new segments.