Tag: Business

FY26 Revenue More Than Doubles to ₹309.7 Cr | Net Profit Rises 92% YoY

Ahmedabad (Gujarat) [India], May 21: Indo SMC Limited, a leading manufacturer of SMC, FRP, and CT PT products, announced its audited financial results for the half-year and financial year ended March 31, 2026.

Key Financial Highlights – FY26

H2 FY26 Highlights

Segment Highlights – FY26

• SMC Products revenue stood at ₹64.0 Cr with segment profit of ₹16.1 Cr
• FRP Products revenue stood at ₹23.7 Cr with segment profit of ₹3.0 Cr
• CT PT Products revenue stood at ₹222.0 Cr with segment profit of ₹27.0 Cr

Other Key Highlights:

• FY26 EBITDA Margin stood at 15.35% & Net Profit Margin stood at 10.43%
• FY26 Revenue more than doubled to ₹309.7 Cr supported by strong demand across SMC, FRP, and CT PT product segments
• Net Profit increased 92% YoY to ₹32.4 Cr, reflecting improved scale, product mix, and operational execution
• CT PT Products segment emerged as the largest contributor with FY26 revenue of ₹222.0 Cr
• The company reported healthy cash and cash equivalents of ₹53.6 Cr as on March 31, 2026
• Capacity additions and ongoing investments in plant & machinery are expected to support future growth momentum

Management Commentary

Commenting on the performance, Mr. Neel Shah, Managing Director & CFO, Indo SMC Limited, stated:

“Our FY26 performance reflects the successful execution of our expansion strategy and the strong demand environment across our key product categories. The significant growth in CT PT products along with steady performance from SMC and FRP segments, has enabled us to deliver robust revenue and profitability growth during the year.

We continue to focus on strengthening manufacturing capabilities, improving operational efficiencies and enhancing customer relationships across industries. The successful deployment of IPO proceeds and investments towards capacity expansion positions us well to capture future growth opportunities. With increasing demand from industrial and infrastructure-related sectors, we remain confident of sustaining our growth momentum while continuing to create long-term value for all stakeholders.”

About Indo SMC Limited

Indo SMC Limited is engaged in the manufacturing of Sheet Moulding Compound (SMC) products, Fiberglass Reinforced Plastic (FRP) products, and electrical components catering to power distribution, infrastructure, industrial, and renewable energy sectors.

The Company operates multiple manufacturing facilities across India, supported by in-house R&D and testing capabilities. Indo SMC is an approved vendor with various State Electricity Boards, DISCOMs, and government utilities, with a strong pan-India presence.

Disclaimer: Certain statements in this document that are not historical facts are forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, like government actions, local, political, or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

New Delhi [India], May 21: Capital India Finance Limited (CIFL) reported 22% YoY growth in Assets Under Management (AUM) to ₹1,227.37 crore during FY26, while disbursements increased 62% YoY to ₹753.54 crore. The growth was supported by the company’s continued focus on secured MSME lending, distribution expansion, technology-led execution, and balance sheet strengthening initiatives.

On the financial performance front, CIFL reported a standalone Profit After Tax (PAT) of ₹40.36 crore for FY26, registering a 243% YoY increase. Total revenue for the year rose 11% YoY to ₹229.67 crore.

During FY26, CIFL expanded its branch and distribution network from 29 branches in FY25 to 46 branches, as part of its scale-up strategy across key markets.

Commenting on the company’s performance, Mr. Surender Rana, Executive Vice Chairman, CIFL, said, “FY26 was a year of strategic recalibration for CIFL as we sharpened our focus on secured MSME and retail lending. Alongside balance sheet strengthening through the divestment of CIHL, the Company expanded its distribution network and reinforced its leadership team and employee base to support continued growth.”

Mr. Pinank Shah, Chief Executive Officer, CIFL, added, “The expansion of our network to 46 locations, combined with our continued focus on secured and granular lending, is helping us build a scalable and disciplined lending franchise. We are seeing improving traction across our core business segments. As we continue to scale our lending business, we believe the combination of prudent risk management, technology-led execution, and a stronger liability profile positions us well for the next phase of sustainable growth.”

FY26 Capital Adequacy Ratio (CAR) stood at 40.99%, while Net NPA remained at 1.32%. During the year, the company raised ₹600 crore in debt, including listed NCD issuances, supported by participation from both existing and new lenders.

As part of its strategic realignment, CIFL divested its entire stake in Capital India Home Loans Limited (CIHL) for ₹267 crore.

The company’s fintech subsidiary, Rapipay Fintech Pvt. Ltd., also reported operational improvement during FY26, achieving EBITDA positivity and reducing losses compared to the previous year.

Maneesh Singh, CEO of ExamOnline

Mumbai (Maharashtra) [India], May 22: While India’s EdTech ecosystem celebrated unicorns that burned through investor capital and then quietly contracted, a bootstrapped platform from Mumbai was delivering high-stakes examinations in 35 countries – without a single funding announcement, without a single press release, and without anyone paying attention.

ExamOnline was founded in April 2009. That year, Twitter had 18 million users, the iPhone was two years old, and India’s digital infrastructure was in its infancy. The company’s founding premise – that geography should not determine who gets a fair, secure, and credible examination – was considered optimistic at best and operationally impossible at worst.

Sixteen years later, that premise has become reality in 35 countries across six continents. ExamOnline has delivered millions of high-stakes assessments for universities, government agencies, certification bodies, healthcare licensing authorities, and enterprises across the United States, United Kingdom, Germany, Finland, France, UAE, Saudi Arabia, Singapore, Australia, Nigeria, Guyana, and Zambia, among others. Its client base spans over 250 enterprise customers worldwide, including leading universities in Saudi Arabia, Fortune 500 telecommunications giants, and prominent universities across Southeast Asia. Remarkably, the company has achieved this scale without raising a single rupee in external capital. 

The Business Model Nobody Wrote About

ExamOnline operates a multi-layered B2B revenue architecture – platform licensing on annual and multi-year contracts, usage-based pricing per candidate per examination, enterprise customisation and LMS integrations, and AI-powered proctoring as a managed service. The model scales with client growth, generates recurring revenue visibility, and improves unit economics with volume. It is, in financial structure, a textbook high-quality SaaS business. The fact that it was founded in Mumbai, without a US co-founder or a Sequoia term sheet, is the only reason the story went untold.

The platform itself is entirely proprietary. No white-labelled proctoring engines. No third-party assessment frameworks. ExamOnline’s AI architecture – built in house and perfected over the years – handles real-time behavioural analysis, face and object detection, session auto-save, browser lockdown, and multilingual delivery across seven languages. It is browser-based, requiring zero installation on the candidate’s device – a critical design decision for markets where institutional IT infrastructure is inconsistent. The company holds ISO 27001 and ISO 9001 certifications, is GDPR-compliant, and operates under CERT-In compliance – the full compliance stack that global enterprise procurement requires.

The CEO Who Chose Depth Over Optics

Maneesh Singh, CEO of ExamOnline, is a board-level technology leader who spent over two decades at the highest levels of global enterprise delivery – including as Global Delivery Director in Digital Engagement at Cognizant Technology Solutions, where he led multi-million-dollar programmes across BFSI, Life Sciences, and CMT sectors, managing teams of over 1,500 professionals. His credentials include an MBA, PMP certification, the Stanford Advanced Project Management Certificate, and the LEAD programme at Harvard Business School.

He did not build ExamOnline to flip it. He built it to solve a problem that has no elegant exit – the structural unreliability of examination systems globally. The result is a platform now recognised as a global Top 5 assessment technology provider by Tracxn, and named a finalist at the 2026 International e-Assessment Association Awards in the United Kingdom for Best International Implementation – the only Indian company in that shortlist.

Why This Story Matters Now

India’s EdTech reckoning is well documented. Platforms that raised hundreds of millions of dollars in 2020 and 2021 have since restructured, pivoted, and in several cases, shut down. The conversation has turned – belatedly – toward profitability, retention, and genuine product-market fit. ExamOnline, however, had already built a sustainable assessment business across 35 countries over the past 17 years. 

The global online assessment and proctoring market is projected to cross USD 6 billion by 2028, driven by remote work normalisation, AI-powered hiring, digital university transformation, and international professional certification growth. In every segment of that market, ExamOnline has an active, paying, renewing client base.

This is not a startup success story. It is something rarer: a product company that chose execution over narrative, delivery over fundraising, and depth over visibility – and built something the world actually uses.

The question is not why ExamOnline succeeded. The question is why it took Indian business media 17 years to notice.

A distinguished cohort of HR leaders driving the future of work, talent strategy, and organisational culture in India.

Noida (Uttar Pradesh) [India], May 21: TradeFlock has officially released its 10 Best HR Leaders in India 2026, recognising human resource leaders who are redefining workplace culture, talent strategy, and organisational impact through innovation, strategic leadership, and measurable outcomes.

At a time when organisations are navigating digital transformation, shifting workforce expectations, and an increasing focus on purpose-driven growth, this edition highlights leaders who are aligning people strategy with long-term business value. The list has been curated from a competitive pool of nominations across sectors, including technology, healthcare, consulting, manufacturing, and emerging enterprises.

TradeFlock followed a structured multi-stage evaluation process, assessing leaders across business alignment, talent transformation, cultural impact, leadership effectiveness, and long-term organisational value. Each nominee in the 10 Best HR Leaders in India 2026 was evaluated using both qualitative and quantitative benchmarks to ensure a credible, merit-driven selection process.

Full List of HR Leaders Setting the Benchmark

1. Sachin Awasthi — Director Human Resources, Zones India

A strategic HR leader dedicated to bridging the gap between global business objectives and local talent excellence, Sachin Awasthi has made a significant impact. His expertise in digital transformation and organisational design has transformed Zones India, where he automated HR operations and instilled a high-performance, inclusive culture.

2. Dr. Kailash Chapatwala — Group President – Corporate HR, Wind World India Ltd.
3. Mohan Singh — Executive Director – Corporate Strategy & People Management – HRD, Core Energy Systems Limited
4. Neha Arpan Deliwala — Vice President – Human Resource, 1% Club
5. Praviin Kumar Saxena — Strategic Chief Human Resource Officer, Swastik Corp Advisors
6. Sahil Survase — Vice President – HR Operations, Vidushi Infotech Software Solutions Pvt.Ltd.
7. Shanthi Abayam — Head HR, Global Healthcare Billing Partners
8. Souvik Bhattacharjee — Associate Director – HR, Gleeds Consulting (India)
9. Dr. UNB Raju — Sr. Vice President – Corporate HR, Apitoria Pharma Pvt. Ltd.
10. Vijay Nair KT — Head – HR & Administration, Naxatra Labs Pvt. Ltd.

Together, these leaders represent a shift in how HR is defined—where culture, capability, and business performance are deeply interconnected, and where people strategy is central to long-term enterprise success. Besides spotlighting these inspiring HR Leaders, TradeFlock’s edition is packed with insightful & exclusive editorial stories.

Building a Global Narrative of Leadership and Impact

As part of its broader editorial vision, TradeFlock continues to spotlight leadership excellence across industries and geographies. Its recent editions include 40 Under 40 2026, Most Inspiring Global Finance Leaders 2025, Best Corporate Leaders in India 2025, Most Visionary Global CEOs 2025, India’s 10 Most Influential Healthcare Leaders 2025, Most Impactful CXOs of 2025, and Asia’s Best Business Leaders 2025.

These editions collectively reflect TradeFlock’s commitment to documenting leadership that drives meaningful, measurable change across global business ecosystems.

About TradeFlock

TradeFlock is a global business and leadership platform connecting decision-makers, founders, and industry experts through insight-driven content, strategic recognition, and a rapidly growing executive community. With a strong presence across India, Asia, and international markets, TradeFlock delivers credible narratives that highlight leadership excellence, innovation, and the evolving dynamics of modern business.

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Panaji (Goa) [India], May 22: VYNA Electric, the consumer electrical brand of the SUGS LLOYD Group, successfully hosted its first Annual Distributors Conference in Goa. Marking a rapid growth milestone, the brand brought together over 100 channel partners just six months after launching in the highly competitive Indian consumer electrical and lighting market.

The two‑day event focused on aligning the growing B2B distribution network with VYNA Electric’s pan-India growth strategy. Management recognized top-performing partners who drove early market penetration and outlined the brand’s roadmap for capturing market share in the rapidly expanding mass-premium electrical segment.

Strategic Focus & Product Expansion Roadmap

• During the conference, leadership detailed the company’s focus on delivering safer, smarter, and design-led electrical infrastructure. Core growth categories highlighted for the upcoming fiscal year include:
• Modular Switches & Switchgear: Catering to the rising demand for safe, aesthetically refined, and durable electrical solutions for modern residential and commercial spaces.
• Energy-Efficient LED Lighting: Expanding the portfolio of smart and sustainable LED lighting solutions designed to global standards.
• Adjacent Consumer Durables: Strategic preparation to enter high-growth categories including ceiling fans, small home appliances, and consumer grooming products.

“Launching a new brand in the electrical products industry requires both strong engineering foundations and a trusted distribution ecosystem,” said Sumit Kumar, Business Head and AVP at VYNA Electric. “Scaling to over 100 channel partners in just six months validates our approach. This conference allowed us to acknowledge that collaboration and share our roadmap for delivering reliable, Make-in-India electrical solutions to consumers.”

In a sector where establishing nationwide supply chain and retail distribution typically takes years, VYNA Electric has achieved early traction through product reliability, aggressive market engagement, and consistent channel support.

About VYNA Electric

VYNA Electric is the fast-growing consumer electrical brand of the SUGS LLOYD Group, extending the group’s infrastructure‑grade engineering expertise into the B2C sector. Positioned in the mass‑premium segment, the brand manufactures and distributes modular electrical products, switchgear, and LED lighting designed in India and built to stringent global safety and durability standards. 

For more information, visit: www.vynaelectric.com

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Mumbai (Maharashtra) [India], May 21: During the Cyprus–India Business Forum held in Mumbai, Ali Akbar Sultan Ahmed of Sultan Productions, and Partner & Co-Founder of Think Big Entertainment and Liberty Lights Studios LLP, had the honour of meeting His Excellency Nikos Christodoulides, President of the Republic of Cyprus, during the President’s official visit to India.

The visit marks an important milestone in strengthening bilateral relations between India and Cyprus across business, tourism, culture, and the entertainment industry.

Speaking during the forum, Ali Akbar Sultan Ahmed highlighted the growing potential of Cyprus as an international filming destination for Indian cinema, OTT platforms, music videos, and global co-productions. With its scenic Mediterranean landscapes, modern infrastructure, and film-friendly ecosystem, Cyprus continues to emerge as an attractive destination for international productions.

The discussions also reflected the increasing opportunities for collaboration between the Indian and Cypriot entertainment industries, opening new avenues for cultural exchange, tourism promotion, and creative partnerships between both nations.

Special appreciation was extended to Viraj Kulkarni, Honourary Consulate of the Republic of Cyprus, Mumbai, and the High Commission of Cyprus in New Delhi for their continued efforts in strengthening India–Cyprus relations and supporting meaningful collaborations across sectors.

The Cyprus–India Business Forum brought together senior government officials, entrepreneurs, investors, and industry leaders from both countries, reinforcing a shared vision for future partnerships in business, tourism, investment, and international productions.

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Brings scheduled, precision logistics, previously available only to large enterprises, to India’s MSMEs and D2C brands, reducing bulk logistics costs by up to 27%

New Delhi [India], May 21: Shiprocket, India’s leading e-commerce enablement platform, today announced the launch of Appointment-Based Delivery (ABD), a scheduled logistics service that delivers warehouse-level precision to MSMEs and D2C brands. Designed for sellers moving bulk inventory to platforms such as Zepto, Blinkit, Flipkart, Myntra, Swiggy, and Amazon, ABD achieved 98% on-time adherence during its controlled rollout, establishing a new standard for bulk logistics compliance in India.

This service by Shiprocket Cargo aims to replace unpredictable bulk dispatches with fixed delivery windows, giving brands direct control over shipment timelines and warehouse compliance. On average, sellers have reported up to a 27% reduction in logistics costs, primarily due to improved planning that eliminates last-minute carrier changes.

With ABD, high-volume sellers moving inventory to quick-commerce dark stores, marketplace fulfilment centres, and distributor warehouses can now book delivery slots, secure linehaul schedules, and track shipments in real time, all from their existing Shiprocket dashboard.

Commenting on the launch, Gautam Kapoor, COO, Shiprocket, said, “For a long time, precision logistics was a privilege reserved for enterprises with large supply chain teams and strong carrier relationships. MSMEs relied on reactive, manual systems. With Appointment-Based Delivery, we offer the same infrastructure that supports the largest FMCG companies and marketplaces in India, now accessible to every seller on our platform. Enabling small brands to achieve up to a 98% delivery adherence rate is a significant advancement. The quick commerce era is not a threat to small brands. With the right solution, it is theirs to own.”

ABD Pilot Results at a Glance

• 98% on-time appointment adherence across trial shipments/sellers

• 27%     reduction in per-shipment logistics cost through optimised multi-carrier allocation
• 7%    incremental improvement in delivery compliance via the dedicated Green Channel
• 60%     of active high-volume Shiprocket Cargo sellers are already using the service
• Up to 10% reduction in warehouse rejection rate for participating sellers
• 24-48 hours saved in transit time to key destination hubs, on average

Salient Features of ABD:

• Confirmed slot booking aligned to destination warehouse appointments, no more coordinating via calls or email
• Locked linehaul schedules from origin to destination, removing mid-transit uncertainty.
• Automated rescheduling is triggered proactively, before any delay occurs
• Real-time tracking against scheduled delivery times, with hub-level visibility
• Digital proof of delivery (stamp, signature, gate entry, or GRN) to ensure compliance
• Dedicated Green Channel for expedited slot booking on Zepto, Blinkit, Swiggy Instamart, and other quick commerce platforms

How the ABD as a Service Works

1. Seller creates a bulk shipment on the Shiprocket Cargo panel and selects Appointment-Based Delivery
2. Seller secures an appointment slot with the destination warehouse (Amazon FC, Blinkit hub, etc.)
3. Confirmed slot is booked on the Shiprocket panel, locking pickup and linehaul schedules
4. Shipment moves through origin hub, dedicated cargo linehaul, and destination processing, all aligned to the appointment window
5. Real-time tracking shows progress against the scheduled delivery time
6. Digital proof of delivery (stamp, signature, gate entry, or GRN) closes the cycle
7. Dedicated Green Channel expedites slot booking for quick commerce platforms

Appointment-Based Delivery is available exclusively to high-volume shippers in FMCG, food and beverage, pharmaceuticals, apparel, and beauty. The service is live on the Shiprocket Cargo network, with priority onboarding for sellers managing consistent multi-hub dispatches. Brands can access scheduling, tracking, and exception management through the existing Shiprocket dashboard.

About Shiprocket

Shiprocket Limited, India’s leading e-commerce enablement platform on a mission to empower the businesses of Bharat to scale their ventures by unleashing the true power of e-commerce. The platform supports sellers at every step of their digital growth journey, creating a seamless operating system.

With a robust stack of technology integrations, Shiprocket enables shipping, fulfilment, customer communication, marketing tools, and commerce infrastructure for MSMEs, D2C brands, and social commerce retailers across India.

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Mumbai (Maharashtra) [India], May 22: NH Studioz is set to return to the Cannes Film Festival with one of its most ambitious international showcases yet, presenting a multilingual catalogue of iconic Indian films to global buyers and partners through specially created dubbed versions in French, Spanish, German, Arabic, Russian and several other international languages.

Having participated at the Cannes market consistently for over a decade, NH Studioz has emerged as one of the most active and seasoned Indian entertainment companies at the festival, with Cannes now serving as a key annual global business and strategy platform for the company’s international expansion initiatives.

Led by a dedicated cross-functional team comprising international distribution, acquisitions, syndication, partnerships, technology and business development executives, NH Studioz will conduct an extensive slate of meetings with global OTT platforms, film distributors, airlines, broadcasters, localisation partners and production houses from across Europe, the Middle East, Latin America, Asia and North America.

The company’s Cannes strategy this year is centered around accelerating the global accessibility of Indian cinema while simultaneously adapting to rapidly evolving entertainment consumption patterns, technology-led distribution ecosystems and newer international monetisation opportunities for premium film content.

Among the celebrated titles being showcased in multiple languages are films such as Sholay, Pink, Lootera, Bandit Queen, Omkara, Ek Villain, Once Upon A Time In Mumbaai, The Dirty Picture, Mangal Pandey: The Rising, Partner, Bhoothnath, Maine Pyaar Kyun Kiya, Shootout At Lokhandwala, Baghban, Gol Maal, Shaan, Khubsoorat and Guddi, among several others. The catalogue spans timeless classics, critically acclaimed cinema and mainstream Bollywood entertainers, reflecting the scale and diversity of the NH Studioz film library.

“At a time when global audiences are increasingly consuming stories irrespective of language, Indian cinema is entering a phase of unprecedented international opportunity,” said Mr. Narendra Hirawat, Chairman, NH Studioz. “For us, Cannes is not merely a marketplace anymore — it is an annual global sprint where we continuously study audience evolution, technology shifts, platform behaviour and emerging monetisation ecosystems to ensure Indian films remain globally competitive and culturally relevant.”

“As a company, we are constantly evolving our international strategy through localisation, AI-enabled accessibility solutions, smarter discovery systems and territory-specific content positioning so that Indian stories can travel further than ever before,” he added.

NH Studioz is also actively exploring next-generation opportunities across AI-assisted localisation, metadata intelligence, digital packaging and multilingual discovery frameworks aimed at making Indian films more scalable and accessible for worldwide audiences while preserving their emotional authenticity and storytelling essence.

With one of India’s most commercially valuable film libraries, the company is witnessing increasing international interest not only in distribution rights but also in remake adaptations of Indian stories, particularly across the thriller, drama, action and comedy genres. The company is additionally evaluating restoration and preservation initiatives for select classics in order to introduce iconic Indian cinema to newer global audiences in enhanced formats.

Over the years, NH Studioz has steadily expanded its international presence by building long-term relationships across global distribution and content ecosystems, while continuously adapting itself to shifts in consumer behaviour, platform economics and cross-border entertainment consumption.

As audiences across the world continue embracing subtitled and dubbed storytelling from multiple cultures, NH Studioz aims to further position Indian cinema as a mainstream global entertainment category capable of transcending language and geography through universally relatable emotion-driven narratives.

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Tirupati Packers and Movers, a trusted provider of Packers and Movers in Chhatrapati Sambhajinagar

Mumbai (Maharashtra) [India], May 22: With increasing urban migration, job transfers, and business expansion across India, the demand for professional relocation services continues to rise rapidly. Tirupati Packers and Movers, a trusted provider of Packers and Movers in Chhatrapati Sambhajinagar, is strengthening its nationwide relocation network by offering organized and secure shifting solutions for residential and commercial customers.

Formerly known as Aurangabad, Chhatrapati Sambhajinagar has emerged as a growing commercial and residential hub in Maharashtra. Tirupati Packers and Movers, based in Chhatrapati Sambhajinagar, provides comprehensive relocation services including household shifting, office relocation, vehicle transportation, warehousing, packing and unpacking, loading and unloading, and interstate moving services.

As customers increasingly prefer professional relocation companies over self-managed shifting, the company continues focusing on safe handling practices, systematic logistics management, and customer-oriented support services. The company uses quality packaging materials and trained staff to help ensure safer transportation of household goods, office equipment, furniture, electronics, and vehicles.

The household shifting segment remains one of the fastest-growing categories within India’s organized relocation sector. Customers today seek secure, timely, and affordable moving solutions that reduce relocation stress and minimize the risk of damage during transportation. Tirupati Packers and Movers aims to address these requirements through structured relocation planning and end-to-end moving assistance.

Office relocation services have also witnessed growing demand from startups, SMEs, retail businesses, and corporate organizations looking to shift operations efficiently without major business disruptions. The company provides organized office shifting support designed to handle commercial assets and office infrastructure with systematic execution and timely delivery.

Vehicle transportation services are another key area of growth in the relocation industry. Customers relocating between cities increasingly rely on professional car and bike transportation providers for secure long-distance movement of vehicles. Tirupati Packers and Movers offers dedicated vehicle transportation solutions aimed at maintaining safety and delivery efficiency throughout the relocation process.

In addition to relocation services, the company also offers warehousing and storage support for customers requiring temporary inventory storage or flexible storage management during shifting. Demand for storage facilities has steadily increased alongside rising mobility across urban and semi-urban regions in India.

The Indian logistics and relocation sector continues evolving with increasing emphasis on customer trust, organized operations, service transparency, and professional execution. Companies providing structured relocation management and reliable customer support are expected to play an important role in the future growth of the organized moving industry.

By expanding its operational capabilities and strengthening service accessibility across multiple cities, Tirupati Packers and Movers continues positioning itself among reliable Packers and Movers in Chhatrapati Sambhajinagar and across India.

For more information, visit:
 Tirupati Packers and Movers Official Website

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New Delhi [India], May 22: Leading brokerage houses including ICICI Securities, HDFC Securities and JM Financial Institution remain positive on PNC Infratech following its Q4FY26 earnings. Analysts expect a gradual recovery in revenues over FY27 and FY28, supported by a healthy executable order book, improving order inflows, and ramp-up in execution across key projects. Analysts believe the company is well positioned for a recovery cycle as execution intensity improves and newer business verticals scale up.

• Leading brokerages remain constructive on PNC Infratech, citing recovery in execution, strong order book visibility and improving order inflows as key medium-term growth drivers.

• Analysts highlighted the company’s diversification into renewables, mining and water infrastructure as a key positive that could support future revenue growth.
• Brokerage target prices imply up to ~48% upside from current market levels, with confidence in PNC’s balance sheet strength and margin stability.

Potential upside calculated based on PNC Infratech’s closing market price of ₹213.15 as of 21^st May. Note: Above list of analyst recommendations is not exhaustive.

Brokerage house HDFC Securities maintained its ‘Buy’ rating with a target price of ₹304, highlighting expectations of a recovery in execution and order inflows during FY27. The brokerage noted that PNC’s order book stood at around ₹180 billion as of March 2026, providing strong revenue visibility. HDFC Securities also pointed to new business segments such as renewables and mining to aid order inflows, while the cash inflows from asset monetization to Vertis contributed to the healthy cash buffer of PNC.

Broking firm ICICI Securities upgraded the stock to ‘Buy’ with a target price of ₹290, citing improving execution visibility and a strong executable order book. The brokerage expects revenue and earnings recovery over FY26-28E aided by pick-up in project execution, commencement of recently secured projects.

Ambit Capital retained its ‘Buy’ rating with a target price of ₹276 and noted that the company has been able to maintain EBITDA margins despite weak execution trends over the last few quarters. The brokerage highlighted that diversification beyond roads, particularly in water infrastructure and other emerging segments, has helped PNC gradually rebuild its executable order book.

Meanwhile, Nuvama Institutional Equities maintained a ‘Hold’ rating with a target price of ₹235, while acknowledging improving segmental diversification in the company’s order book growth. The brokerage noted that management is targeting a higher share of non-road projects in future order inflows with 30–35% of future order inflows coming from segments like solar, battery energy storage systems and urban development projects.

Brokerages broadly expect order inflow momentum and execution recovery to remain the key monitorable for the company over the next few quarters.