Trishakti Industries' capex hits ₹230 cr, more than doubling original plan
The nano-cap equipment rental firm has spent ₹22 cr on new machinery, pushing total FY27 capital outlay past ₹230 cr against an initial ₹100 cr target.
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 this 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.
Questions answered
- How much has Trishakti Industries spent on capex this year?
- Trishakti has spent more than ₹230 crore in FY27, after adding a fresh ₹22 crore outlay. The total is more than double the ₹100 crore it originally planned.
- How does this spending compare to the company's revenue?
- The ₹230+ crore in annual capex dwarfs last year's revenue of ₹27.8 crore. The spending is equal to about 9.3% of its ₹237 crore market capitalisation.
- What is the company's revenue target?
- Management has guided for ₹62.5 crore in FY27 revenue and ₹94 crore in FY28, based on the expanded equipment fleet serving infrastructure developers.
- Why is the company spending so far ahead of its revenue?
- Trishakti is an equipment rental firm capitalising on surging demand from infrastructure developers. The bet is that building the fleet now will drive a rapid earnings inflection as revenue catches up.