What’s new

• Trishakti spent an additional ₹22 cr on heavy machinery, taking FY27 capex past ₹230 cr.
• This total is more than double the ₹100 cr the company originally guided for the year.
• The new spend is equal to about 9.3% of its ₹237 cr market capitalisation.

Why it matters

For a company that made just ₹27.8 cr in revenue last year, a ₹230+ cr spending spree is a massive bet. Management is scaling ahead of revenue to chase a projected inflection to ₹62.5 cr in FY27 and ₹94 cr in FY28. The bet is that the fleet will find enough infrastructure demand to justify the spend.

What we’re watching

• Revenue growth in the coming quarters to see if the fleet expansion is being monetised.
• The company's balance sheet for how this capex is being funded.
• Whether the ₹94 cr FY28 revenue target remains credible given the spending pace.

The full read

Trishakti Industries just spent another ₹22 crore on machinery. That takes its total capital spending this year to more than ₹230 crore, which is over twice the ₹100 crore it originally set aside. For context, the Kolkata-based equipment rental firm made just ₹27.8 crore in revenue last year. The new spend alone is equal to 9.3% of the company's ₹237 crore market value. Management is scaling ahead of demand, betting the expanded fleet will find work with infrastructure builders. They've guided for revenue of ₹62.5 crore this year and ₹94 crore next. The open question is how a company this small funds a ₹230+ crore spending spree, and how quickly the new machines start earning their keep.

Primary source: BSE · NSE