📉 Financial Deep Dive: Numbers Bol Rahe Hain!
Toh bhai, yeh numbers sirf Q3 ke nahi hain. Poore 9 mahine (9MFY26) mein bhi company ka revenue 137% badh ke ₹29,407.8 million ho gaya. EBITDA bhi 135% badh ke ₹4,693.4 million pahuncha. PAT toh 145% upar, ₹3,007.9 million ho gaya. Mast growth dikh rahi hai!
📊 Margin Volatility Aur Expansion Plans
Haan, ek choti si tension hai Q3 mein EBITDA margin thoda 13.11% ho gaya tha, jo 9 mahine ke average 15.96% se kam hai. Company bol rahi hai ki yeh silver, copper, aluminium jaise commodities ke price fluctuations aur dollar ki wajah se hua hai. Par chinta mat karo, management ka kehna hai ki Q4 mein yeh sab theek ho jayega. Aur jo interest ka kharcha badha hai woh bhi temporary hai, raw material buy karne ke liye short-term loan liya tha isliye. March tak stable ho jayega.
Ab company apni capacity badha rahi hai. Ambala mein 2 GW ka EPE film manufacturing facility start ho gaya hai. Aur Odisha mein jo bada plant lag raha hai, uska 4 GW module plant FY26 end tak aa jayega. Cell production wali 4.8 GW capacity H2FY27 mein start hogi.
🚀 Future Outlook Aur Risks
Order book bhi solid hai, lagbhag 5.05 GW ka, jiska value ₹6,500 crore hai. Management ko full confidence hai ki woh aane wale saalon mein bhi 100% se upar ka growth maintain rakhenge. Future mein woh ingot aur wafer banane mein bhi backward integration karna chahte hain, agar policy stable rahi toh. Plus, solar pumps, inverters aur EPC business mein bhi enter karne ka plan hai, jisse unka 15% revenue aayega. Main risks commodity prices, currency, aur policy par depend karta hai. Odisha project ka capex ₹1,850 crore hai jo fully funded hai aur net debt ₹749 crore hai. Competition se company dar nahi rahi, bol rahi hai ki market mein demand itni hai ki sabko jagah milegi.