Yash Highvoltage Limited
Current Price
₹796.25
As of 20 May 2026
Market Cap
₹2.02K Cr
As of 20 May 2026
pure-play transformer bushing specialist, BSE SME
Report updated: 2026-05-17
Yash Highvoltage Limited
Pure-play transformer bushing specialist — 20 years, 45,000+ bushings installed globally, exports to 60+ countries. One of only 12-13 global players in a niche that the world's grid build-out absolutely needs. BSE SME listed 19 Dec 2024 at issue Rs.146 (IPO Rs.93.51 Cr). FY26 audited revenue Rs.235 Cr (+57% YoY), PAT Rs.37 Cr (+76%), EBITDA margin 25.7%. Founder-controlled (Keyur G. Shah, took over 2008). Greenfield expansion to 550 kV under commissioning.
Rs.707
Share price
Rs.2,018 Cr
Market cap
Rs.235 Cr
FY26 revenue (audited)
Rs.37 Cr
FY26 PAT (+76% YoY)
51.9x
Trailing P/E
57.94%
Promoter holding
Stock Funda Summary
- Yash Highvoltage is one of only 12-13 global transformer bushing makers — the high-voltage component that lets electricity safely cross from a transformer's oil-filled interior to the outside grid.
- Founded 2002, Keyur Shah took over 2008, BSE SME listed 19 Dec 2024 (IPO Rs.93.51 Cr).
- FY26 audited: revenue Rs.235 Cr (+57%), EBITDA margin 25.7%, PAT Rs.37 Cr (+76%).
- Holds ~30-35% Indian market share.
- Greenfield expansion to 550 kV under commissioning — commercial production H2 FY27 unlocks RIP exports (30-40% margin premium).
- Risks: P/E 51.9x leaves no execution slippage room
- BSE master flags SDD non-compliance under SEBI PIT Reg 9A
- MGC Moser-Glaser RIP overlap as former related party.