Indo SMC targets ₹500 cr revenue as Vande Bharat orders loom
Management is pushing for a 60% revenue jump this year, anchored by a ₹237 cr order book and pending railway supply clearances.
— 1 earlier story on Indo Smc Ltd. →What's new
- Management targets FY27 revenue of ₹450-500 cr.
- Order book reached ₹237 cr in March, with ₹125 cr added in April and May.
- Vande Bharat train component supply clearance is expected by June-end.
Why this matters
The company is chasing aggressive growth, aiming to more than double its turnover to over ₹1,000 cr within three years. Success hinges on maintaining 15% EBITDA margins while scaling production of higher-margin products like bus ducts and meter cubicles.
What we're watching
- Confirmation of Vande Bharat supply clearance by the end of June.
- Execution speed on the ₹125 cr of new orders booked in April and May.
- Whether margins hold above 15% as the company scales.
The full read
Indo SMC closed FY26 with ₹309.7 crore in revenue and ₹32.4 crore in net profit. Management is now looking to scale rapidly, setting a revenue target of ₹450-500 crore for FY27.
Growth is the mandate.
The company’s order book is growing, sitting at ₹237 crore at the end of March, with an additional ₹125 crore in new business secured in April and May. A key catalyst for this expansion is the expected clearance to supply components for Vande Bharat trains, which management expects by the end of June. To support this growth, the company plans to focus on higher-margin products like bus ducts and meter cubicles to keep EBITDA margins above 15%, while simultaneously pursuing a long-term ambition to cross ₹1,000 crore in revenue within three years. This transcript adds detail to previously disclosed guidance, but the execution of these targets remains the primary test for the coming quarters.
Questions answered
- What was the company's financial performance in FY26?
- Indo SMC reported audited annual revenue of ₹309.7 crore and a net profit of ₹32.4 crore for the year ended March 31, 2026.
- How does the company plan to protect its margins?
- Management intends to keep EBITDA margins above 15% by shifting its product mix toward higher-margin offerings, specifically current transformers, bus ducts, and meter cubicles.
- What is the status of the company's order book?
- The order book stood at ₹237 crore as of March 31, 2026, and the company added another ₹125 crore in fresh orders during April and May.
- What is the long-term revenue goal?
- Management has set a three-year target to exceed ₹1,000 crore in total turnover.
Story so far
All notes on INDOSMC →- Today · 5:28 PM IST Indo SMC targets ₹500 cr revenue as Vande Bharat orders loom
- 3d ago Indo SMC targets ₹500 cr revenue this year on high-margin pivot