Danish Power

Listed EPC / O&M — per-stock model.

As of 21 Aug 2026

EPC / O&M—

CMP ₹784NSE: DANISH

Latest concall

H2 & FY26 · 11 May 2026

FY26 revenue ~Rs521cr (H1 Rs211cr +29%); consolidated PAT Rs68.98cr (+26%); OPM ~17%
11,000 MVA capacity fully commissioned; Phase-1 expansion done Oct-25 (up to 220kV)
Inverter-duty transformers for >1GW solar; ~Rs84cr 66kV export order; ~Rs49cr IDT orders
Finance costs down sharply on better fund utilisation

Order-book execution

Order book plus healthy L1 pipeline underpins FY27 ramp from full 11,000 MVA capacity.

Management guidance

FY27 revenue guidance >Rs700cr from order book, L1 pipeline and full-capacity ramp

H2 & FY26 concall, 11 May 2026

Order book

₹500cr

Revenue FY26E

521₹ cr

EBITDA margin

18%

P/E

22.4×

Financials

Annual · ₹ crore · E = estimate.

Annual financials

₹ crore · FY25 → FY28E

Period	Revenue	EBITDA	EBITDA %	PAT	Gross %	ROE %	ROCE %	Capex	Net debt	EPS ₹	WC days
FY24	332	55	17.0%	38	—	—	—	—	—	—	—
FY25	427	83	19.0%	58	—	—	—	—	—	29.3	—
FY26	521	92	18.0%	69	—	—	—	—	—	35.0	—

Source NSE Emerge (SME)· As of 21 Aug 2026

Revenue, EBITDA & margin

Bars ₹cr (left) · margin % (right)

Source NSE Emerge (SME)· As of 21 Aug 2026

Quarterly

₹ crore · recent quarters.

Quarterly financials

₹ crore

Quarter	Revenue	EBITDA	EBITDA %	PAT	PAT %
Q2FY25	164	31	19.0%	20	12.2%
Q4FY25	262	51	20.0%	35	13.4%
Q2FY26	212	37	18.0%	29	13.7%
Q4FY26	310	55	18.0%	40	12.9%

Source NSE Emerge (SME)· As of 21 Aug 2026

Revenue & margin trend

Bars ₹cr (left) · margin % (right)

Source NSE Emerge (SME)· As of 21 Aug 2026

Valuation

As of 21 Aug 2026

P/E

22.4×

EV / EBITDA

16.8×

P/B

3.4×

Operating & order mix

Unit economics and the order book.

Shareholding

% · as of 31 Mar 2026

Shareholding pattern

Source NSE Emerge (SME)· As of 21 Aug 2026