Systematic Industries sees ₹1,000 cr OPGW pipeline as it pivots from legacy steel
FY26 revenue of ₹5,563 million, up 24%; net profit ₹205 million; company net debt-free. Legacy steel still 97% of revenue but new segments target bottom-line from FY27.
— 2 earlier stories on Systematic Industries Ltd. →What's new
- FY26 revenue ₹5,563 million, up 24% YoY; EBITDA ₹405 million, net profit ₹205 million
- Company turned net debt-free as of March 31, 2026
- First EPC contract from Power Grid for OPGW segment, ₹10 cr railway OFC order
Why this matters
The call reiterates a strategy that is still in its infancy. Legacy steel wire contributed 97% of FY26 revenue; the ₹1,000 cr pipeline, if won, could reshape margins and valuation. But the transcript adds no new numbers beyond the prior alert; the execution is yet to be seen.
What we're watching
- Conversion of ₹1,000 cr OPGW tender pipeline into orders
- Shift in revenue mix away from legacy steel
- Export push toward 15% of sales
The full read
Systematic Industries' FY26 investor call confirmed ₹5,563 million in revenue, up 24%, with net profit of ₹205 million and a net debt-free balance sheet. The headline numbers were already known. What the call added was detail on the pivot: a ₹1,000 cr OPGW tender pipeline, a first Power Grid EPC contract, and a ₹10 cr railway OFC order. Yet legacy steel wire still accounts for 97% of revenue. The new segments are real, but tiny. The transcript is a recap, not news. The open question is whether the pipeline converts — and whether a company with a ₹420 cr market cap can make ₹1,000 cr of tenders a reality.
Questions answered
- What were Systematic Industries' FY26 revenue and profit?
- Revenue was ₹5,563 million, up 24% year-on-year. EBITDA was ₹405 million and net profit ₹205 million.
- What are the new 'New Age' segments Systematic Industries is entering?
- The company is entering optical ground wire (OPGW) and optical fiber cable (OFC) segments. It has secured a first EPC contract from Power Grid and a ₹10 crore railway OFC order.
- How large is the OPGW tender pipeline?
- Management flagged a tender pipeline of approximately ₹1,000 crore for OPGW projects over the coming year.
- Is Systematic Industries debt-free?
- Yes, the company confirmed it turned net debt-free as of March 31, 2026.
- What percentage of FY26 revenue came from legacy steel wire?
- Legacy steel wire contributed 97% of FY26 revenue, indicating the new segments are still very early stage.
- What is the company's export target?
- Systematic Industries targets an export share of 15% over the next few years.
Story so far
All notes on SYSTEMATIC →- 16 Jun 2026 · 6:52 PM IST Systematic Industries sees ₹1,000 cr OPGW pipeline as it pivots from legacy steel
- today Systematic Industries lands first Power Grid EPC order, eyes ₹1,000 cr OPGW pipeline
- 21d ago Systematic Industries grows revenue 23.7% in FY26