Mega Nirman & Industries Sees Revenue Surge 112% in FY26, Approves Rights Issue

Revenue in FY26 jumped 112.3% to ₹147.94 crore from ₹69.67 crore in FY25.
Net profit rose to ₹3.52 crore from ₹0.53 crore.

What just happened

Mega Nirman and Industries Ltd reported a significant financial uplift for the fiscal year 2026. Revenue from operations soared to ₹147.94 crore, more than doubling from ₹69.67 crore in the previous fiscal year. Net profit also saw a substantial increase, reaching ₹3.52 crore in FY26, up from ₹0.53 crore in FY25. The company's board approved a Rights Issue of up to ₹50 crore to fuel its expansion in the 'MegaCharge' EV charging business and related assembly operations. Additionally, Ankan Gupta was appointed as the Chairman cum Managing Director.

Why this matters

This performance highlights the accelerating adoption of Mega Nirman's electric vehicle (EV) charging solutions and assembly operations. The approval of the Rights Issue indicates a strategic move to secure capital for infrastructure deployment, essential for its ambitious growth plans in the electric mobility sector. The leadership transition signals a focus on governance and strategic direction under new leadership.

The backstory

Mega Nirman has been focusing on scaling up its EV charging business. The company's strategy involves an anchor-led expansion, prioritizing locations with assured demand, and vertical integration through in-house CKD (Completely Knocked Down) charger assembly to control costs and enhance service quality. The company has a goal to establish 5,000 EV charging stations by 2030.

What changes now

The leadership change brings Ankan Gupta to the helm as Chairman cum Managing Director for a five-year term. The capital infusion via the Rights Issue is expected to accelerate infrastructure deployment for the EV charging network. While profitability has improved, the company has chosen not to recommend a dividend for FY26, opting to reinvest profits back into the business for reserves and to meet ongoing capital requirements for expansion.

Risks to watch

Investors should monitor the capital-intensive nature of the company's expansion, which requires significant investment to achieve its goal of 5,000 charging stations. There is also a noted concern regarding the promoter's past history with a SEBI order, requiring close observation of the company's compliance and governance practices. The absence of a dividend payout also means returns will primarily be through capital appreciation, dependent on successful execution.

Peer comparison

While specific peer data is not provided in the filing, Mega Nirman operates in the rapidly growing Indian EV charging infrastructure and assembly market. Competitors in this space include established energy players diversifying into EV infra, dedicated EV charging solution providers, and automotive component manufacturers entering the EV ecosystem.

Context metrics (time-bound)

• Revenue Growth (FY26 vs FY25): +112.3% to ₹147.94 crore.
• Net Profit Growth (FY26 vs FY25): +564.1% to ₹3.52 crore.
• Rights Issue: Up to ₹50 crore approved.
• Leadership Term: Ankan Gupta appointed CMD for 5 years from July 23, 2026.
• New Auditors: Appointed for 5 years.

What to track next

Investors should closely watch the progress of the Rights Issue and the deployment of funds towards infrastructure. Execution of the 5,000-station target by 2030 and the company's ability to maintain profitability amid capital expenditure will be key indicators. Monitoring compliance and governance will also remain important.