Yash Highvoltage Limited · BSE:YASHHV
Yash Highvoltage — FY2026 Earnings Presentation
42 slides from Yash Highvoltage's earnings presentation, May 13, 2026
Slide 1: BSE filing cover letter for investor presentation
Date: 13th May 2026 To, BSE Limited 2nd Floor, P. J. Towers Dalal Street Mumbai – 400 001 Scrip Code: 544310 Ref: ISIN- INE00GK01023 Sub: Investor Presentation on Audited Financial Results (Standalone & Consolidated) for the Half year and year ended March 31, 2026. Dear Sir/Madam, Pursuant to SEBI (
Slide 2: Yash Highvoltage Ltd. Investor Presentation May 2026
YASH HIGHVOLTAGE LTD. Investor Presentation May 2026
Slide 3: Table of Contents
01 COMPANY OVERVIEW 02 FY26 RESULT HIGHLIGHTS 03 BUSINESS OVERVIEW TABLE OF 04 YASH INFRASTRUCTURE CONTENTS 05 INDUSTRY OVERVIEW 06 WAY AHEAD 07 HISTORICAL FINANCIALS
Slide 4: Company Overview
COMPANY OVERVIEW
Slide 5: Company at a Glance
COMPANY AT A GLANCE India’s Leading Pure-Play Transformer Bushing Specialist with Expanding Presence Across the Diversified T&D Landscape Yash Highvoltage Ltd. (Yash®) is a leading manufacturer of condenser- ISO Year of Establishment graded high voltage and high current transformer bushings, serving
Slide 6: Vision, Mission, Quality Principles
VISION To be recognised among the top 5 transformer bushing manufacturers in the world with global manufacturing facilities. MISSION We are steadfastly committed to delivering superior quality products, highly customised solutions and exceedingly responsive services to customers; thus, offering benc
Slide 7: Yash Milestones
YASH® MILESTONES 2002 2008 2009 2011 2012 2013 Incorporated Takeover by current 1st export New Major approvals Representation agreement management manufacturing bay with NTPC & with SWISS MAJOR M/s. MGC manufacturing of Moser Glaser for their RIP 16kA HC bushing Transformer bushings in India 2022 20
Slide 8: What Sets Us Apart?
WHAT SETS US APART? ONLY INDEPENDENT INDIAN MANUFACTURER A BUSINESS THAT COMPOUNDS Condenser-graded transformer bushing manufacturing is Revenue at ~38% CAGR over five years. among the most specialised niches in power equipment. Yash EBITDA margins expanding to 25.7% in FY26. is one of fewer than 12
Slide 9: Board of Directors
BOARD OF DIRECTORS MRS. TWINKLE SHAH MR. HARTMUTH FETHKE Director Non-executive director As a director at Yash®, she brings a wealth of Mr. Fethke brings over 40 years of industry experience experience & passion for excellence to our team. With a with leading European majors including ABB Micafil di
Slide 10: Sr. Management Team
SR. MANAGEMENT TEAM MR. DARSHAN THAKKAR MR. NIRAV PATEL MR. GAUTAM NIKAM MR. TUSHAR LAKHMAPURKAR EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR EXECUTIVE DIRECTOR – FINANCE COMPANY SECRETARY – GLOBAL BUSINESS – OPERATIONS An MBA and Certified Financial Planner Nirav is an electrical engineer with 18+ With 14
Slide 11: FY26 Key Highlights
FY26 KEY HIGHLIGHTS
Slide 12: FY26 strongest year in company history
FY26 has been Yash Highvoltage's strongest year in our two-decade history – and we are just getting started. Revenue grew 57% YoY to Rs. 235 crore, and PAT rose 75% YoY to Rs. 37 crore, reflecting disciplined execution across domestic and export markets and continued demand momentum in the transform
Slide 13: H2FY25 & FY26 Financial Snapshot
H2FY25 & FY26 FINANCIAL SNAPSHOT Revenue from Operations (Rs. Cr) EBITDA* (Rs. Cr) & EBIDTA Margin % 25.7% 60 235 27.4% 23.1% 150 37 136 35 25.0% 93 23 H2FY25 H2FY26 FY25 FY26 H2FY25 H2FY26 FY25 FY26 PAT (Rs. Cr) & PAT Margin % 15.9% 37 Basic EPS 17.5% 14.3% 13.08 24 16.2% 21 8.20 8.94 15 6.2 H2FY25
Slide 14: Operational Highlights FY26
OPERATIONAL HIGHLIGHTS FY26 Order Book (Rs. Cr.) 400 250 150 As on 31 March 2025 As on 30 Sept 2025 As on 31 March 2026 Product Mix Geography Mix FY25 FY26 FY 25 FY26 4% 3% 3% 5% 4% 11% 10% 7% 82% 83% 93% 95% RIP OIP HC Others RIP OIP HC Others Domestic Exports Domestic Exports
Slide 15: Highlights of FY26
HIGHLIGHTS OF FY26 1. Sukrut Electric Acquisition 2. USA Subsidiary Established 50% equity stake acquired in Sukrut Electric, Pune transformer Yash HV USA Inc. launched direct sales and marketing components manufacturer in partnership with Quality Power presence in the America for the first time 3.
Slide 16: Growth Accelerator: Greenfield Facility
GROWTH ACCELERATOR: GREENFIELD FACILITY SCALING WITH PURPOSE At Yash Highvoltage®, ambition is more than a driving force - it’s a transformative ethos. It shapes our decisions, drives innovation, and defines how we create long-term impact. We are charting a bold path toward 2030, driven by operation
Slide 17: Progress: Greenfield Facility
PROGRESS: GREENFIELD FACILITY RM stores Bushing Packing area Autoclave & Resin Mixing machine Autoclave & Resin Mixing machine Mobile Stores rack inspection done, Oil handling system inspection done, Commissioning to complete in Jun-26. Commissioning to complete in Jun-26. commissioning to complete
Slide 18: Strategic Partnership Announcement
STRATEGIC PARTNERSHIP ANNOUNCEMENT ACQUISITION OF SUKRUT ELECTRIC · TRANSFORMER COMPONENTS MANUFACTURING SUKRUT ELECTRIC Transformer Components · Pune, India 50% 50% YASH HIGHVOLTAGE • Strengthens high-voltage equipment ecosystem QUALITY POWER Equity Stake • Enhances product integration across Equit
Slide 19: Yash HV USA Inc.
YASH HV USA INC. Our USA Sales & Marketing Office – a direct connect to USA’s transformers build out The US grid is entering its largest modernization cycle in 40 years. Yash HV USA puts us inside the room, closer to the OEMs, engineers and buyers shaping the decade ahead. 01 SCALE OF OPPORTUNITY –
Slide 20: Profit & Loss Statement
PROFIT & LOSS STATEMENT (Rs In Cr) Particulars H2FY26 H2FY25 Y-o-Y FY26 FY25 Y-o-Y Revenue from operations 135.5 92.5 46% 235.1 149.6 57% Other Income 3.8 1.8 108% 5.8 2.0 193% Total income 139.2 94.3 48% 240.9 151.6 59% COGS 70.5 50.8 39% 125.4 81.9 53% Direct Manufacturing Expenses 4.1 2.7 49% 6.7
Slide 21: Balance Sheet
BALANCE SHEET (Rs In Cr) (Rs In Cr) Particulars Mar-26 Mar-25 Particulars Mar-26 Mar-25 Property Plant & Equipment 45.16 40.61 Equity Share capital 14.28 14.28 Intangible Asset 0.24 0.11 Other Equity 169.72 133.12 Capital Work in Progress 42.50 2.39 Total Shareholders Funds 184.00 147.40 Intangible
Slide 22: Business Overview
BUSINESS OVERVIEW
Slide 23: Business at a Glance
BUSINESS AT A GLANCE Leading Indian transformer bushing manufacturer to have developed & supplied transformer bushings as per the IEEE/ANSI standard for USA & European markets. 45,000+ Products Installed globally The first Indian manufacturer of 25,000 A High Current transformer bushing 1,000+ Custo
Slide 24: Transformer Bushings in the Power Transmission Value Chain
TRANSFORMER BUSHINGS – A critical component in power transmission value chain Primary Transmission Power Generation Station Primary Distribution Step-Up Transformer Step-down Transformer (Generator Transformer) (Power Transformer) Transformer Bushings Distribution End – User Transformer (Residential
Slide 25: Comprehensive Product Range
COMPREHENSIVE PRODUCT RANGE OIP, RIP/RIS, High Current, Oil-to-Oil, Wall-through – Engineered to Global Standards OIP CONDENSER OIP WALL & RIP/RIS CONDENSER HIGH CURRENT BUSHINGS RETROFIT SOLUTIONS BUSHINGS OIL-OIL BUSHINGS BUSHINGS Voltage Voltage Voltage Voltage Voltage 15 kV – 245 kV 24 kV – 245
Slide 26: Comprehensive Retrofit Solutions
COMPREHENSIVE RETROFIT SOLUTIONS o Transformer Bushings, having an average lifespan of 30 years, depending on service conditions, may require Retrofit solutions offered to the customers maintenance/retrofit (replacement) earlier than 30 years due to several ageing factors e.g., Temperature, Voltage,
Slide 27: Made to Order for Global Standards
MADE TO ORDER FOR GLOBAL STANDARDS OIP CAPACITIVE BUSHINGS AS PER IEC 60137:2017 OIP CAPACITIVE BUSHINGS AS PER IEEE RATED VOLTAGE: CURRENT: RATED VOLTAGE: CURRENT: 24 kV – 245 kV Upto 3150 Amp 25 kV – 230 kV Up to 3000 Amp* INSULATOR: Porcelain 20,000+ INSULATOR: Porcelain – 20kV Potential Tap – Br
Slide 28: A Trusted Supplier
A TRUSTED SUPPLIER OF MNCS & INTERNATIONAL STANDARDS COMPLIANT LICENSES • Yash® holds statutory licenses, including a factory license & GPCB (Gujarat Pollution Control Board) approval INTERNATIONAL STANDARDS • Yash Highvoltage® is an ISO 9001 accredited leading manufacturer of HV condenser-graded tr
Slide 29: Installed in 60+ Countries
INSTALLED IN 60+ COUNTRIES HIGHVOLTAGE AUSTRIA [el ry od Se BULGARIA LEBANON GERMANY CANADA Jl se «MM RUSSIA UNITED KINGDOM yee AZERBAUJAN abs, | .| ALBANIA a | CHINA usa a r) TURKEY = | if A C: | #@* SOUTH KOREA Stitt eee nepal BE lasdleHuran i? = SPAIN + = MEXICO sf: | ia IRAQ mau? ees - = BBBPANC
Slide 30: Key Esteemed Patrons
KEY ESTEEMED PATRONS TRANSFORMER OEMs END CUSTOMERS GLOBAL CUSTOMERS
Slide 31: Business Overview
BUSINESS OVERVIEW
Slide 32: Manufacturing Capacity
MANUFACTURING CAPACITY With the ongoing expansion scheduled to complete in this UNIT-1 (Halol) UNIT-2 (Jarod) calendar year, the annual installed capacity of both manufacturing plants will be 15,000 units. New CAPEX Addition: • Capex Additions completed in 2025 • New High speed winding machine for c
Slide 33: World-Class Infrastructure
WORLD-CLASS INFRASTRUCTURE High Speed - Condenser Core Winding machines having Fully integrated Oil Storage & Handling system with online re- SCADA Controlled Autoclave system for fully automated combined output capacity upto 500 active parts each month for filtration for efficient oil management to
Slide 34: NABL Accredited Inhouse Labs
NABL ACCREDITED INHOUSE LABS Impulse lab High voltage Oil Test Lab for with capability (Dry Power checks like, of 1500kVp for Frequency) Breakdown testing testing up to voltage (BDV), Lightning 600kV PPM, Tan δ & Impulse & Resistivity Chopped / before active Switching part Impulse as per impregnatio
Slide 35: Industry Overview
INDUSTRY OVERVIEW
Slide 36: The Tailwind Is Structural, Not Cyclical
THE TAILWIND IS STRUCTURAL, NOT CYCLICAL GRID REPLACEMENT – RDSS RENEWABLE INTEGRATION TRANSMISSION EXPANSION – NEP ₹3.03 L Cr 237 GW ₹9.15 L Cr Government outlay FY22–FY28 Still to be added by 2030 NEP transmission outlay to 2032 – 590,369 transformers sanctioned for replacement – India at 263 GW r
Slide 37: The Technology Shift from OIP to RIP
THE TECHNOLOGY SHIFT FROM OIP TO RIP Why the transformer bushing industry is changing and what it means for India OIP – OIL IMPREGNATED PAPER RIP – RESIN IMPREGNATED PAPER ← THE SHIFT MAINTENANCE FIRE RISK MAINTENANCE FIRE RISK Regular oil checks required Higher – oil is flammable Maintenance-free f
Slide 38: Historical Financials
HISTORICAL FINANCIALS
Slide 39: Historic Financial Trend
HISTORIC FINANCIAL TREND (Rs in Cr) Revenue from Operations EBITDA & EBIDTA Margin PAT & PAT Margin 25.7% 60 15.9% 235 37 23.1% 12.6% 14.3% 150 11.3% 18.6% 34 108 21.2% 21 90 19 20 11 12 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 Debt-to-Equity (x) Return on Net Worth (%) Return on
Slide 40: Profit & Loss Statement
PROFIT & LOSS STATEMENT (Rs in Cr) Particulars FY26 FY25 FY 24 Revenue from operations 235.1 149.6 108.5 Other Income 5.8 2.0 0.6 Total income 240.9 151.6 109.1 COGS 125.4 81.9 58.9 Direct Manufacturing Expenses 6.7 4.6 3.8 Direct labour cost 4.5 3.2 2.7 Gross Profit 104.4 61.9 43.7 Gross Profit Mar
Slide 41: Balance Sheet
BALANCE SHEET (Rs in Cr) Particulars Mar-26 Mar-25 Mar-24 Particulars Mar-26 Mar-25 Mar-24 Property Plant & Equipment 45.16 40.61 18.18 Equity Share capital 14.28 14.28 3.08 Intangible Asset 0.24 0.11 0.18 Other Equity 169.72 133.12 38.66 Capital Work in Progress 42.50 2.39 4.95 Total Shareholders F
Slide 42: For more information, please contact
For more information, please contact For Investor Relations: Investor Relations Advisors: investors@yashhv.com ADFACTORS PR PVT. LTD. Mr. Sumit Kinikar / Mr. Yash Sanghavi sumit.kinikar@adfactorspr.com / yash.sanghavi@adfactorspr.com +91 9403622989 / +91 8369881109 https://yashhv.com/ @yash_highvolt