RIR Power Electronics reported standalone revenue of ₹93.35 crore for FY26, marking a 5.79% year-on-year growth. Despite top-line gains, net profit fell by 18.81% to ₹6.72 crore due to rising material costs and shifting customer schedules. The company is currently prioritizing its high-growth Silicon Carbide (SiC) facility in Odisha and recently secured its first overseas order for thyristors. Shareholders should note the management transition, with Ramesh Kumar Narasinghbhan stepping in as MD and CEO to lead the next phase of expansion.
RIR Power Electronics FY26: Revenue Growth vs Margin Pressure
Revenue: ₹93.35 crore (5.79% YoY growth)
Net Profit: ₹6.72 crore (18.81% YoY decline)
Reader Takeaway: Revenue grew on stable demand, but margins were squeezed by rising input costs and client-side scheduling delays.
What just happened
RIR Power Electronics has released its financial results for the year ended March 31, 2026. While the company achieved a modest revenue growth of 5.79% to reach ₹93.35 crore, profitability faced significant headwinds. EBITDA dropped 10.43% to ₹10.21 crore, and net profit fell nearly 19%. The company also confirmed the divestment of its subsidiary, Visicon Power Electronics, to Silicon Power Corporation for ₹2.16 crore.
Why this matters
The decline in margins reflects broader operational pressures in the power electronics space, specifically rising material costs. However, the company is pivoting toward higher-value manufacturing. The construction of the cleanroom for their Silicon Carbide (SiC) facility in Odisha is finished, with machinery installation underway to prepare for epitaxial wafer production by Q3 FY27. This move is designed to capture demand from the EV, renewable energy, and defense sectors.
Management and Governance
The company has undergone a major leadership reshuffle to steer its long-term strategy. Ramesh Kumar Narasinghbhan took charge as Managing Director and CEO on February 11, 2026. The board has also been strengthened with the appointment of Vijay Anant Chavan and Vivek Satishbhai Patel as Independent Directors.
What to track next
Investors should monitor the scaling of the Odisha SiC plant and the execution of the company’s first overseas order for 5 kV thyristors. The current order backlog stands at approximately ₹17 crore, which serves as a short-term revenue visibility indicator.