Fabtech Technologies Limited (FABTECH)
₹130.30 -1.37% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Fabtech Technologies' revenue was ₹75.0 Cr (+10.3% year on year, -52.7% on the previous quarter), and net profit ₹4.2 Cr (against a loss a year earlier); the operating margin was 5.7%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹75.0 | +10.3% | -52.7% |
| Operating profit | ₹4.2 | from loss | -80.9% |
| Net profit | ₹4.2 | from loss | -80.9% |
| EPS (₹) | 0.95 | from loss | -80.8% |
| Operating margin | 5.7% | — | — |
FABTECH delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 58.06% of the FABTECH shares traded on NSE were taken to delivery, against the stock's own 20-session average of 53.76%. That is close to its usual level.
Delivery in the last 5 sessions: 51.8% · 28.5% · 31.9% · 59.3% · 58.1%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Fabtech Technologies Limited has entered into a Settlement Agreement on September 29, 2026, to conclude the second and final tranche of its stake sale in TSA Process Equipments Private Limited to Thermax Limited. Under the revised terms, Fabtech will offload 2,23,440 equity shares for a total consideration of ₹13.986 crore (₹13,98,60,000). Thermax had previously acquired 51% of TSA in April 2024 under the original February 2024 Share Purchase Agreement. The transaction is expected to be completed by October 05, 2026, bringing an immediate cash inflow.
- Revised consideration of ₹13,98,60,000 (₹13.99 cr) agreed for the remaining stake in TSA
- Final tranche involves the sale of 2,23,440 equity shares to Thermax Limited
- Settlement Agreement signed on September 29, 2026, with expected completion by October 05, 2026
- Thermax previously acquired 51% in April 2024; target unit contributed NIL revenue and net worth in the last FY
Fabtech Technologies Limited's Board has approved the incorporation of a wholly owned step-down subsidiary in Egypt via its UAE subsidiary, Fabtech Technologies LLC. The new entity will operate in Turnkey Pharma Projects, covering HVAC, MEP, cleanrooms, and machinery. The equity capital will be subscribed in cash at face value, giving the company 100% ownership. This move aligns with Fabtech's strategy to expand across the MENA region to capture emerging healthcare infrastructure demand.
- Board approved incorporation of a 100% owned step-down subsidiary in Egypt on September 25, 2026
- Subscription to equity capital will be in cash at face value via Fabtech Technologies LLC, UAE
- Line of business covers turnkey pharma projects including HVAC, MEP, CRP, CRE, and machinery
- Subject to approvals from the UAE Embassy and regulatory bodies in Egypt
Fabtech Technologies has secured an international turnkey design-and-build order worth ₹21 crore in a CIS country, marking its entry into this new regional market. The project entails developing critical cleanroom and utility infrastructure for an advanced medical-device manufacturing facility. Execution is scheduled for handover within approximately 12 months from civil front availability. Against Q1 FY27 revenue of ₹74.98 crore, this single order represents roughly 28% of quarterly revenue.
- Secured turnkey design-and-build order valued at ₹21 crore
- Marks geographic entry into a new CIS country
- Project execution timeline targeted for handover within ~12 months
- Scope covers cleanrooms, HVAC, BMS, electrical, and clean utilities for a medical-device facility
Fabtech Technologies announced that its UAE-based step-down subsidiary, FTS Cleanrooms Systems LLC, has completed a 14,000 sqm turnkey facility for Himalaya Wellness Company in Dubai Internet City. The project, which supports both pharmaceutical and cosmetic manufacturing operations, was delivered in less than one year via an integrated design-to-validation model. While the company did not disclose the financial contract value of this completed project, it showcases execution capabilities in the GCC region where Fabtech has targeted growth. In Q1 FY27 (Jun 2026), Fabtech reported revenue of ₹74.98 cr and PAT of ₹4.21 cr.
- Delivered a 14,000 sqm turnkey cleanroom facility in Dubai Internet City.
- Execution completed in less than one year from design through validation.
- Client is global herbal health and personal care brand Himalaya Wellness Company.
- Company highlights international footprint across 62 countries with 750+ projects executed historically.
Fabtech Technologies Limited submitted the Scrutinizer's Report and voting results for its 8th Annual General Meeting held on August 24, 2026. Shareholders approved all 5 resolutions with requisite majority, including the adoption of FY26 financial statements and a final dividend of ₹0.60 per equity share (face value ₹10). Additionally, approval was granted for material related party transactions with FTS Cleanrooms Systems LLC, a step-down subsidiary, with promoter votes excluded. The reappointment of directors Amjad Adam Arbani and Naushad Alimohmed Panjwani were also approved.
- Approved a final dividend of ₹0.60 per equity share of face value ₹10 for FY26
- Material Related Party Transactions approved with FTS Cleanrooms Systems LLC, with 99.64% public votes in favour
- Adoption of FY26 audited standalone and consolidated financial statements passed with 99.999% votes in favour
- Re-appointed Naushad Alimohmed Panjwani as Independent Director for a second term with 99.993% approval
Fabtech Technologies Limited announced that shareholders approved key director appointments at its 8th Annual General Meeting held on August 24, 2026. Mr. Amjad Adam Arbani was re-appointed after retiring by rotation. Additionally, Mr. Naushad Alimohmed Panjwani was re-appointed as a Non-Executive Independent Director for a second five-year term. Both directors are confirmed to have no debarment by SEBI or regulatory authorities.
- Shareholder approval obtained at the 8th Annual General Meeting on August 24, 2026
- Re-appointment of Mr. Naushad Alimohmed Panjwani as Non-Executive Independent Director for a 5-year second term
- Re-appointment of Mr. Amjad Adam Arbani upon retirement by rotation approved
- Confirmation that neither director is debarred by SEBI or related to other board members
Fabtech Technologies Limited concluded its 8th Annual General Meeting (AGM) held on August 24, 2026, via video conferencing. Key resolutions put to vote included the adoption of FY26 financial statements and the approval of a final dividend of Rs 0.60 per equity share (face value Rs 10). Shareholders also voted on material related-party transactions with step-down subsidiary FTS Cleanrooms Systems LLC and the reappointment of Independent Director Naushad Panjwani. Final scrutinizer voting results will be submitted separately.
- Concluded 8th Annual General Meeting on August 24, 2026
- Proposed final dividend of Rs 0.60 per equity share of Rs 10 face value for FY26
- Put to vote material related-party transactions with step-down subsidiary FTS Cleanrooms Systems LLC
- Re-appointment of Mr. Naushad Panjwani as Independent Director for a second term considered
- Remote e-voting window was open from August 19 to August 23, 2026
Fabtech Technologies Limited announced that its wholly owned UAE subsidiary, FTS Cleanrooms Systems LLC, has secured a turnkey project valued at AED 9.92 million (approximately ₹24.6 crore) from Aroma King, a UAE-based flavour manufacturer. The fast-track project is scheduled for completion within six months, representing ~32.8% of the company's Q1 FY27 revenue (₹74.98 crore). Scope includes delivery of modular controlled environments, cold rooms, specialised flooring, HVAC systems, and electrical works. This win marks the company's expansion beyond life sciences into high-specification food and flavour manufacturing infrastructure.
- Secured AED 9.92 million (approx. ₹24.6 crore) turnkey project in the UAE
- Fast-track execution timeline set for completion within 6 months
- Order value represents ~32.8% of latest quarterly revenue of ₹74.98 crore (Jun 2026)
- Executed via 100% subsidiary FTS Cleanrooms Systems LLC for client Aroma King
Fabtech Technologies achieved a significant turnaround in Q1 FY27, reporting a net profit of Rs 4.21 crore against a loss of Rs 6.13 crore in Q1 FY26. Revenue increased 10% YoY to Rs 74.98 crore, supported by a 130% surge in Saudi Arabian operations. The company maintains a massive order book exceeding Rs 900 crore, representing over 12x its current quarterly revenue. Management confirmed a 20-25% organic growth guidance for FY27, backed by a "hot lead" pipeline of Rs 3,800 crore.
- Net profit turnaround to Rs 4.21 crore from a loss of Rs 6.13 crore in the previous year's quarter.
- Order book stands at over Rs 900 crore as of June 30, 2026, providing multi-year visibility.
- Saudi Arabia operations recorded 130% YoY growth, reaching Rs 17.14 crore.
- Secured a new Rs 31.23 crore veterinary vaccine manufacturing project in Botswana.
- EBITDA margin recovered to 9% (Rs 7.41 crore) from a negative EBITDA of Rs 5.27 crore YoY.
Fabtech Technologies Limited has announced its 8th Annual General Meeting (AGM) for August 24, 2026, to be held via video conferencing. The company has established August 17, 2026, as the record date for dividend eligibility and the cut-off date for e-voting. Shareholders can participate in remote e-voting from August 19 to August 23, 2026. The company is also facilitating access to the FY 2025-26 Annual Report for members without registered email addresses through physical intimation letters.
- 8th Annual General Meeting scheduled for August 24, 2026, at 02:00 p.m. IST
- Record date for dividend eligibility and e-voting cut-off set for August 17, 2026
- Remote e-voting period spans from August 19, 2026 (09:00 AM) to August 23, 2026 (05:00 PM)
- Dividend payment to be processed within 30 days from the AGM date of August 24, 2026
- Company leveraging a substantial order book of ₹904.42 Cr (as of July 2025) for future growth
Fabtech Technologies has scheduled its 8th Annual General Meeting (AGM) for August 24, 2026, to be conducted via video conferencing. The company has fixed August 17, 2026, as the record date for determining shareholder eligibility for a final dividend for FY 2025-26. This follows a Sep 2025 quarter where the company reported revenue of Rs 68.01 Cr but a net loss of Rs 6.13 Cr. Investors will be looking for updates on the execution of the Rs 904.42 Cr order book reported in July 2025.
- 8th Annual General Meeting scheduled for August 24, 2026, at 2:00 p.m. IST.
- August 17, 2026, established as the record date for final dividend entitlement.
- Company is leveraging an order book of Rs 904.42 Cr as of July 2025 for future growth.
- Sep 2025 quarterly performance showed a net loss of Rs 6.13 Cr on revenue of Rs 68.01 Cr.
- Voting rights for the AGM will be determined based on the cut-off date of August 17, 2026.
Fabtech Technologies has released the video recording of its Q1 FY27 earnings conference call held on July 28, 2026. The call addressed the unaudited financial results for the quarter ended June 30, 2026, providing management commentary on the company's execution strategy. With a substantial order book of Rs 904.42 cr (as of July 2025) and a target growth rate of 20%, the discussion is critical for understanding how the company plans to manage its lumpy project cycles. This follows a volatile period where the company reported a net loss of Rs 6.12 cr in September 2025.
- Earnings conference call held on July 28, 2026, to discuss Q1 FY27 results.
- Company is leveraging a significant order book of Rs 904.42 cr as of July 2025.
- Management maintains an expected growth rate of 20% through its 'single window' turnkey model.
- Focus remains on emerging markets in MENA, GCC, and ECO Zone for medicinal independence projects.
- Recording link provided for public access to management's detailed operational commentary.
Fabtech Technologies reported a significant turnaround in Q1 FY27, posting a net profit of ₹4.21 Cr compared to a loss of ₹6.13 Cr in the same period last year. Revenue grew 10.3% YoY to ₹74.98 Cr, supported by a 910 bps expansion in contribution margins to 46.7%. The company maintains a massive open order book of over ₹900 Cr, which is approximately 12x its current quarterly revenue, providing high growth visibility. Management has guided for 20-25% organic growth for the full fiscal year FY27, with expectations of a stronger second half.
- Turned profitable with ₹4.21 Cr PAT in Q1 FY27 vs a ₹6.13 Cr loss in Q1 FY26
- Contribution margins expanded significantly by 910 basis points to reach 46.7%
- Open order book stands at ₹900+ Cr, representing over 3x the estimated annual revenue
- Finance costs reduced by 35.9% to ₹0.84 Cr following post-IPO fund utilization
- International markets contribute 55% of revenue, with Saudi Arabia growing 130% YoY
Fabtech Technologies reported a significant turnaround in Q1 FY27, posting a net profit of ₹4.21 Cr compared to a loss of ₹6.13 Cr in the same quarter last year. Revenue grew 10% YoY to ₹74.98 Cr, driven by a 130% surge in Saudi Arabian operations and strong contributions from new African markets like Morocco and Kenya (₹27.94 Cr). The company maintains a robust order book of over ₹900 Cr, providing high revenue visibility, and has guided for 20-25% organic growth for the full fiscal year. Profitability was further aided by a 36% reduction in finance costs following the strategic utilization of IPO proceeds.
- Achieved a PAT of ₹4.21 Cr in Q1 FY27, reversing a ₹6.13 Cr loss in Q1 FY26.
- Order book stands at ₹900+ Cr as of June 30, 2026, with an additional ₹3,800 Cr in 'hot leads'.
- Saudi Arabia operations registered 130% YoY growth, reaching ₹17.14 Cr.
- Finance costs dropped 36% YoY to ₹0.86 Cr due to IPO-led debt/working capital optimization.
- Contribution margins expanded significantly to 46.7% from 37.6% in the previous year.
Fabtech Technologies Limited has confirmed that there were no deviations or variations in the utilization of funds raised through its Public Issue (IPO) for the quarter ended June 30, 2026. The company raised approximately Rs 230.30 crore on October 7, 2025. The statement has been reviewed by the Audit Committee and is monitored by CRISIL Ratings Limited. This filing is a routine compliance requirement to ensure transparency in how IPO proceeds are spent compared to the objects stated in the prospectus.
- Total amount raised through IPO: Rs 2,30,29,65,305
- Date of fund raising: October 7, 2025
- Reporting period: Quarter ended June 30, 2026
- Deviation or variation reported: Nil
- Monitoring Agency: CRISIL Ratings Limited
Financial Performance
Revenue Growth by Segment
Turnkey engineering solutions for life sciences grew 43.7% in FY25 to INR 322.47 Cr. Approximately 30% of revenue is derived from in-house manufactured products (Process, Air, and Water systems), while 70% comes from integrated project management and third-party equipment supply.
Geographic Revenue Split
The company operates in 62 countries with a strong presence in 22 active markets. Key growth regions include MENA (Middle East and North Africa), GCC, and ECO Zone, which are driving revenue through increased investments in local pharmaceutical self-reliance.
Profitability Margins
PAT margins improved from 12.03% in FY24 to 15.48% in FY25. However, operating margins saw a decline from 16.23% in FY24 to 12.73% in FY25 due to project mix and cost structures. H1 FY26 Net Profit stood at INR 21.98 Cr, a 101.6% YoY increase.
EBITDA Margin
EBITDA margin for H1 FY26 was 14.7%, reflecting a significant improvement from the 12.73% reported in FY25. The company targets a sustainable annual EBITDA range of 12-15% despite quarterly lumpiness in project execution.
Capital Expenditure
Fabtech follows an asset-light model and is not capital-intensive. The company successfully raised INR 230 Cr through an IPO fresh issue in October 2025, primarily to fund working capital requirements and business expansion rather than heavy manufacturing assets.
Credit Rating & Borrowing
Crisil reaffirmed ratings at 'Crisil BBB+/Stable' for long-term and 'Crisil A2' for short-term facilities. Working capital utilization averaged 70% over the 7 months ended June 2025, with an adjusted debt-to-networth ratio of 0.39x as of March 2025.
Operational Drivers
Raw Materials
Key raw materials include stainless steel, specialized components for HVAC systems, and water purification filters. Raw material costs (Cost of Material) accounted for 54.1% of total income in FY25, amounting to INR 181.86 Cr.
Import Sources
Not explicitly disclosed, but the company operates in 62 countries and sources components globally to support its international turnkey projects in regions like MENA and GCC.
Capacity Expansion
The company operates an asset-light model where revenue is driven by project engineering and design. Management stated they can double revenue (X to X+Y) with the same core team by increasing procurement and engineering oversight without significant gross block expansion.
Raw Material Costs
Cost of materials increased from INR 121.51 Cr in FY24 to INR 181.86 Cr in FY25, representing a 49.6% increase. Procurement is managed through a 'single window' model to ensure speed and compliance for pharmaceutical clients.
Manufacturing Efficiency
The company maintains ISO-certified operations with a team of 180+ members, including 94+ qualified engineers, focusing on 'execution excellence' to maintain a 9% quarterly growth trajectory.
Strategic Growth
Expected Growth Rate
20%
Growth Strategy
Growth will be achieved by leveraging the INR 904.42 Cr order book (as of July 2025), expanding the 'single window' turnkey model in emerging pharmaceutical markets, and focusing on nations seeking 'medicinal independence' through local manufacturing capacity.
Products & Services
Turnkey pharmaceutical plants, Cleanrooms, HVAC systems, Water for Injection (WFI) systems, Pure Water distribution systems, and Precision Process equipment for biotech and healthcare.
Brand Portfolio
FABTECH, FABL International Technologies, FT Institutions, Fabtech Technologies LLC, FTS Cleanrooms Systems.
New Products/Services
The company is expanding into high-margin capex projects and integrated automation for life sciences, aiming for a 9% sequential growth in the project pipeline.
Market Expansion
Targeting deeper penetration in MENA, GCC, and ECO Zone regions where governments are subsidizing healthcare infrastructure to achieve self-reliance.
Strategic Alliances
The group consolidates operations with subsidiaries like FABL International and FTS Cleanrooms Systems to provide a unified global engineering service.
External Factors
Industry Trends
The industry is shifting toward 'local medicinal independence' in emerging markets. Global pharmaceutical engineering is growing as companies upgrade facilities to meet stringent USFDA and EU GMP compliance standards.
Competitive Landscape
Competes primarily with European engineering firms. Fabtech positions itself as a more cost-effective, integrated alternative with faster execution speeds.
Competitive Moat
Moat is built on a 3-decade legacy, in-house manufacturing of critical Air/Water/Process systems (30% of project value), and a 'single window' model that ensures faster regulatory compliance than Western competitors.
Macro Economic Sensitivity
Highly sensitive to pharmaceutical industry capex cycles and government healthcare spending in emerging markets.
Consumer Behavior
Increased demand for biotech and life sciences infrastructure following global health crises, driving a shift toward more complex, automated manufacturing facilities.
Geopolitical Risks
Exposure to volatile international markets; however, management mitigates this by diversifying across multiple regions so that if one market slows, others (like the ECO zone) can compensate.
Regulatory & Governance
Industry Regulations
Operations must comply with global pharmaceutical standards including USFDA, EU GMP, Saudi FDA, and UK MHRA. Failure to meet these standards would halt project handovers.
Taxation Policy Impact
Effective tax rate for FY25 was approximately 23.1% (INR 13.98 Cr tax on INR 60.43 Cr PBT).
Risk Analysis
Key Uncertainties
Quarterly earnings volatility due to the 'lumpy' nature of project-based billing, which can see margins swing from 8% to 25% between quarters.
Geographic Concentration Risk
Significant revenue concentration in emerging markets (MENA/GCC), making the company vulnerable to regional geopolitical instability.
Third Party Dependencies
70% of turnkey project components are sourced from third-party vendors, creating risks related to quality control and supply chain delays.
Technology Obsolescence Risk
Risk of shifting to advanced biotech manufacturing processes; mitigated by in-house design and engineering teams focusing on precision process systems.
Credit & Counterparty Risk
High working capital intensity with a focus on debtor collection as a key rating sensitivity factor. Cash and bank balance stood at INR 35.19 Cr as of March 2025.
