Quadrant Future Tek Limited (QUADFUTURE)
₹453.20 +0.69% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Quadrant Future's revenue was ₹40.6 Cr (+41.3% year on year, -28.2% on the previous quarter), and net profit ₹-9.1 Cr (a smaller loss than a year earlier); the operating margin was -8.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹40.6 | +41.3% | -28.2% |
| Operating profit | ₹-3.3 | loss narrowed | loss narrowed |
| Net profit | ₹-9.1 | loss narrowed | to loss |
| EPS (₹) | -2.29 | loss narrowed | to loss |
| Operating margin | -8.2% | — | — |
QUADFUTURE delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 30.51% of the QUADFUTURE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 27.32%. That is close to its usual level. Volume was 0.2 times its average, well below normal.
Delivery in the last 5 sessions: 35.1% · 29.6% · 23.4% · 42.5% · 30.5%
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
Quadrant Future Tek Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026. The certificate issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited confirms that security certificates received for dematerialisation were processed and confirmed or rejected within prescribed timelines. The report also verifies that dematerialised certificates were properly mutilated and cancelled. This is a standard regulatory submission with zero financial or operational impact.
- Compliance certificate submitted under Regulation 74(5) for the quarter ended September 30, 2026
- Issued by RTA MUFG Intime India Private Limited on October 3, 2026
- Filing submitted to stock exchanges on October 10, 2026
- Confirms mutilation, cancellation, and substitution of depositories as registered owners within prescribed timelines
Quadrant Future Tek Limited has submitted the scrutinizer's report and voting results for its 11th Annual General Meeting held on September 25, 2026. All four resolutions were passed with the requisite majority, including the adoption of FY26 financial statements and ratification of cost auditor remuneration (both receiving 99.99% votes in favor). In addition, reappointments of directors Mr. Amit Dhawan and Mr. Aikjot Singh Sandhu were approved with 95.05% and 95.41% favorable votes respectively.
- Adoption of FY26 Audited Financial Statements approved with 99.99% votes in favor (20,310,488 votes)
- Reappointment of director Mr. Amit Dhawan approved with 95.05% favorable votes (24,534,672 votes)
- Reappointment of director Mr. Aikjot Singh Sandhu approved with 95.41% favorable votes (26,534,666 votes)
- Cost auditor remuneration for FY27 ratified with 99.99% votes in favor (29,308,352 votes)
Quadrant Future Tek Limited conducted its 11th Annual General Meeting on September 25, 2026, through video conferencing. Shareholders considered and approved all four agenda items, including the adoption of FY26 audited financial statements and director re-appointments. Remuneration for the Cost Auditor for FY 2026-27 was also ratified. Formal voting results under Regulation 44 will be submitted within two working days.
- 11th AGM held on September 25, 2026, concluded at 11:51 AM IST
- All 4 resolutions (3 ordinary business, 1 special business) passed with requisite majority
- Remote e-voting was conducted from September 22 to September 24, 2026
- Scrutinizer voting results to be submitted within 2 working days
Quadrant Future Tek Limited has issued an intimation regarding the dispatch of letters to shareholders without registered email addresses, providing weblinks to access the FY2025-26 Annual Report and AGM Notice. The 11th Annual General Meeting is scheduled to be held virtually on September 25, 2026, at 11:00 AM IST. The remote e-voting period runs from September 22 to September 24, 2026, with a cut-off date of September 18, 2026. This is a routine statutory compliance disclosure under SEBI LODR regulations.
- 11th Annual General Meeting scheduled for Friday, September 25, 2026, at 11:00 A.M. (IST) via Video Conferencing
- Cut-off date determined for e-voting eligibility is Friday, September 18, 2026
- Remote e-voting window opens on September 22, 2026 (09:00 AM IST) and closes on September 24, 2026 (05:00 PM IST)
- Letter dispatched to shareholders who had not registered email addresses as of August 28, 2026
Quadrant Future Tek Limited has issued the notice for its 11th Annual General Meeting (AGM) scheduled for Friday, September 25, 2026, at 11:00 AM IST via Video Conferencing. The cut-off date to determine shareholder voting eligibility is Friday, September 18, 2026. The remote e-voting period runs from September 22 to September 24, 2026. Ordinary and special business includes adopting FY26 financial statements, re-appointing retiring directors, and ratifying Rs. 50,000 cost auditor remuneration.
- 11th AGM scheduled for September 25, 2026, at 11:00 AM IST via VC/OAVM
- Shareholder voting cut-off date set as September 18, 2026
- Remote e-voting window opens September 22, 2026 (9:00 AM) and closes September 24, 2026 (5:00 PM)
- Proposed ratification of Cost Auditor remuneration of Rs. 50,000 plus applicable taxes for FY27
Quadrant Future Tek Limited has responded to an NSE surveillance query regarding significant price movement in its shares. The company confirmed compliance with Regulation 30 of SEBI LODR Regulations and stated it has no undisclosed price-sensitive information or impending announcements that could explain the trading activity. Management indicated that recent volume and price volatility appears to be purely market-driven. For context, the stock has gained 47.0% over the last 6 months despite reporting a TTM net loss of Rs -39 Cr on revenue of Rs 165 Cr.
- Responded on 26th August, 2026 to NSE surveillance letter dated 25th August, 2026 regarding price movements.
- Confirmed no pending or undisclosed material events affecting trading volume or price behaviour.
- Reaffirmed full compliance with Regulation 30 disclosure norms under SEBI LODR Regulations.
- Company stock has experienced a 43.0% return over 3 months and 47.0% over 6 months.
Quadrant Future Tek Limited has issued a revised segment reporting section for the quarter ended June 30, 2026, to correct typographical errors in segment assets and liabilities. The company confirmed that this revision is purely clerical and has no impact on previously reported revenue, profit, or EPS figures. For Q1 FY27, the company reported a net profit of ₹9.143 million (₹0.91 cr) and a basic EPS of ₹0.23. This follows a period of significant TTM losses amounting to ₹43 cr, indicating a potential quarterly turnaround that remains unaffected by this correction.
- Net Profit for Q1 FY27 remains unchanged at ₹9.143 million (₹0.91 cr)
- Basic EPS for the quarter ended June 30, 2026, is confirmed at ₹0.23
- Revised Cable Division Segment Assets stand at ₹200.96 million
- Revised Cable Division Segment Liabilities stand at ₹185.93 million
- Total weighted average number of shares used for basic EPS calculation is 4,00,00,000
Quadrant Future Tek reported a 41.3% YoY revenue growth to ₹40.6 Cr in Q1 FY27, driven by the Specialty Cables segment. While the company remains loss-making with a PAT of -₹9.1 Cr, losses narrowed significantly from -₹13.5 Cr in Q1 FY26. The company has reached the final regulatory milestone for its Kavach 4.0 system, receiving RDSO approval for passenger trials. With a total order book of ₹845.7 Cr (approx. 5.5x TTM revenue), the company has high revenue visibility contingent on final certifications.
- Q1 FY27 Revenue grew 41.3% YoY to ₹406 Mn (₹40.6 Cr) from ₹287 Mn.
- Total Order Book stands at ₹8,457 Mn (₹845.7 Cr), representing ~552% of TTM revenue.
- Kavach 4.0 received RDSO approval for passenger trials, the final stage before commercial certification.
- EBITDA losses narrowed by 61.5% YoY to -₹29 Mn from -₹75 Mn.
- Specialty Cables division EBITDA grew 59% YoY to ₹41 Mn, showing improving core margins.
Quadrant Future Tek has confirmed zero deviation in the utilization of ₹290 crore raised through its January 2025 IPO. As of June 30, 2026, the company has fully deployed funds for working capital (₹149.72 crore) and debt repayment (₹23.61 crore). However, capital expenditure for the Electronic Interlocking System remains significantly underutilized, with only ₹1.65 crore spent against an allocation of ₹24.38 crore. This routine filing ensures transparency but highlights a slow pace in technology-related capex.
- Total IPO proceeds of ₹2900 million (₹290 crore) raised on January 10, 2025.
- ₹1497.2 million (₹149.72 crore) fully utilized for Specialty Cable division working capital requirements.
- Only ₹16.5 million (₹1.65 crore) utilized for Electronic Interlocking System capex out of a ₹243.8 million allocation.
- ₹236.1 million (₹23.61 crore) utilized for repayment or prepayment of outstanding working capital term loans.
- General Corporate Purposes utilized ₹650.6 million, slightly above the original ₹630.6 million allocation.
Quadrant Future Tek reported a Q1 FY27 net profit of Rs 9.14 Cr, a significant turnaround from a loss of Rs 13.55 Cr in Q1 FY26. However, revenue declined 28% sequentially to Rs 40.59 Cr from Rs 56.56 Cr in Q4 FY26. A critical concern is the statutory auditor's 'Emphasis of Matter' regarding a cash loss of Rs 2.57 Cr this quarter, marking the second consecutive quarter of cash losses. Furthermore, the high-potential TCS (Kavach) division remains pre-revenue, contributing zero to the top line.
- Net Profit of Rs 9.14 Cr in Q1 FY27 compared to a net loss of Rs 13.55 Cr in Q1 FY26.
- Revenue from operations stood at Rs 40.59 Cr, representing a 41% YoY increase but a 28% sequential decline.
- Auditors flagged a cash loss of Rs 2.57 Cr (Rs 25.71 Million) for the quarter ended June 30, 2026.
- TCS (Train Collision Avoidance System/Kavach) division revenue remained at zero for the quarter.
- 11th Annual General Meeting (AGM) scheduled for September 25, 2026, with a cut-off date of September 18, 2026.
Quadrant Future Tek reported a revenue of Rs 40.59 Cr for Q1 FY27, representing a 41% YoY growth compared to Rs 28.73 Cr in Q1 FY26, though it declined 28% sequentially. The company posted a net loss of Rs 9.13 Cr, an improvement from the Rs 13.50 Cr loss in the year-ago period. A significant concern is the auditor's 'Emphasis of Matter' regarding a recurring cash loss of Rs 2.57 Cr, marking the second consecutive quarter of financial stress. The company still holds Rs 22.72 Cr in unutilized IPO proceeds earmarked for Electronic Interlocking System capex.
- Revenue from operations reached Rs 40.59 Cr, up 41% from Rs 28.73 Cr in Q1 FY26.
- Net loss narrowed to Rs 9.13 Cr from a loss of Rs 13.50 Cr in the same quarter last year.
- Auditors flagged a cash loss of Rs 2.57 Cr, noting financial stress for two consecutive quarters.
- Unutilized IPO proceeds of Rs 22.72 Cr remain specifically for Electronic Interlocking System development.
- Raw material costs consumed 89% of operational revenue, standing at Rs 36.18 Cr.
Quadrant Future Tek Limited has submitted its compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended June 30, 2026. The certificate, issued by its Registrar and Share Transfer Agent (RTA), MUFG Intime India Private Limited, confirms that share certificates received for dematerialization were processed within prescribed timelines. This filing is a standard administrative requirement for listed companies to verify the integrity of their share registry. There is no impact on the company's financial performance or business operations.
- Compliance certificate issued for the quarter ended June 30, 2026
- RTA MUFG Intime India Private Limited confirmed processing of dematerialization requests
- Security certificates received were mutilated and cancelled as per SEBI norms
- Name of depositories substituted in the register of members within prescribed timelines
Quadrant Future Tek Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is ahead of the announcement of the un-audited financial results for the quarter ending June 30, 2026. The window will remain closed for all Designated Persons and their immediate relatives until 48 hours after the results are declared. This is a standard regulatory procedure for listed companies to prevent insider trading during the financial reporting period.
- Trading window closure effective from Wednesday, July 1, 2026.
- Closure pertains to the un-audited financial results for the quarter ending June 30, 2026.
- Trading restrictions apply to Designated Persons and their immediate relatives.
- The window will reopen 48 hours after the official declaration of financial results to the stock exchanges.
Mohit Vohra, Promoter and Managing Director of Quadrant Future Tek Limited, has submitted a formal declaration under SEBI (SAST) Regulations for the financial year ended March 31, 2026. The filing confirms that the Promoter and Promoter Group, along with Persons Acting in Concert (PAC), have not created any encumbrance or pledge on their shareholding, directly or indirectly. This disclosure covers a total of 8 individual promoters and 65 promoter group entities, ensuring transparency regarding the status of promoter-held equity.
- Confirmed zero encumbrance on shares by the Promoter Group for the entire Financial Year 2025-26.
- Declaration submitted in compliance with Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- The disclosure encompasses 8 individual promoters and 65 promoter group members, including corporate entities like MV Mobility Limited and MV Electrosystems Limited.
- The filing indicates that no promoter shares have been pledged as collateral for loans or other financial obligations.
Quadrant Future Tek Limited (QUADFUTURE) has responded to a clarification request from the National Stock Exchange regarding a significant increase in trading volume. In its letter dated June 16, 2026, the company stated it is in full compliance with SEBI Regulation 30 and has disclosed all price-sensitive information. Management confirmed there are no impending announcements or undisclosed developments that would impact the stock's price or volume. The company maintains that the recent surge in trading activity is purely market-driven.
- Response to NSE surveillance letter Ref. No. NSE/CM/Surveillance/17100 dated June 15, 2026.
- Company confirms compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- Management denies having any additional information or impending announcements that could affect stock behavior.
- The significant movement in volume is attributed to market-driven factors rather than internal company events.
Financial Performance
Revenue Growth by Segment
Specialty Cables business recorded 19% QoQ growth in Q2 FY26. Overall revenue for FY 2024-25 was INR 1,506.12 million, representing a marginal decline of 0.75% from INR 1,517.57 million in FY 2023-24. Q2 FY26 consolidated revenue grew 20% QoQ to INR 344 million.
Geographic Revenue Split
Not disclosed in available documents; however, the company notes moderate growth in the domestic market.
Profitability Margins
Net Profit Ratio declined from 7.66% in FY 2023-24 to -13.06% in FY 2024-25. Operating Margin Ratio fell from 16.30% to -13.80% over the same period due to stagnant revenues and rising operating costs.
EBITDA Margin
EBITDA margin collapsed from 24.03% in FY 2023-24 to 1.72% in FY 2024-25. EBITDA fell 92.81% from INR 364.93 million to INR 26.23 million, primarily due to losses in the Train Control Division where expenditure is being incurred without corresponding revenue.
Capital Expenditure
Planned Capex of INR 24.38 crore for the development of the Electronic Interlocking System, with INR 1.7 crore incurred as of September 2025. Total PP&E stood at INR 271 million as of September 2025.
Credit Rating & Borrowing
Not disclosed in available documents. Finance costs increased by 78% from INR 43.14 million in FY 2023-24 to INR 76.75 million in FY 2024-25.
Operational Drivers
Raw Materials
Copper and Chemicals (specifically for specialty cable production).
Capacity Expansion
Specialty Cables division has an annual installed capacity of 1,900 MT. The company is developing scalable manufacturing infrastructure for large-scale production of the Kavach train control system.
Raw Material Costs
Raw material consumption costs increased sharply in FY 2024-25, contributing to a total operating expenditure of INR 1,503.17 million, up 30.27% from INR 1,153.87 million in FY 2023-24.
Manufacturing Efficiency
Capacity utilization is expected to rise with new product launches in Solar and EV sectors; however, current utilization metrics were not specifically quantified.
Strategic Growth
Expected Growth Rate
20%
Growth Strategy
Growth will be driven by the commercialization of the Kavach (Train Control) system in FY26 following safety audits, entry into the Solar cable market (BIS approval secured), and expansion into EV and submarine cable applications. The company is utilizing INR 149.72 crore of IPO proceeds for long-term working capital to support these high-growth segments.
Products & Services
Specialty cables for Defence and Private clients, Kavach (Train Control System), Electronic Interlocking Systems, Solar cables, and EV cables.
Brand Portfolio
QUADFUTURE, Quadrant Future Tek.
New Products/Services
Solar cables (BIS approved) and EV cables (in pipeline) are expected to drive higher capacity utilization and revenue diversification.
Market Expansion
Targeting high-growth sectors including Electric Vehicles (EV), Renewables (Solar), and Submarine applications to diversify the revenue mix.
External Factors
Industry Trends
The industry is shifting toward irradiated cables for EVs and renewables. The company is positioning itself to capture global demand for these advanced cables through specialized certifications and manufacturing capabilities.
Competitive Landscape
Faces intense competition in the specialty cable market and requires continuous technological upgrades to maintain its position in the railway signaling sector.
Competitive Moat
Moat is built on technological expertise in safety-critical systems (Kavach) and advanced manufacturing certifications (BIS for Solar). These are sustainable due to high entry barriers in safety-critical railway technology.
Macro Economic Sensitivity
Sensitive to raw material price volatility (Copper) and domestic infrastructure spending, particularly in Railways and Renewables.
Consumer Behavior
Increasing demand for green energy (Solar) and electric mobility (EV) is shifting the product requirement toward specialized, high-durability cables.
Geopolitical Risks
Exposed to geopolitical events that may cause supply chain disruptions for raw materials.
Regulatory & Governance
Industry Regulations
Safety audit process for the Kavach system is a critical regulatory requirement for the Train Control Division. Secured BIS approval for Solar cables to enter the renewable energy market.
Taxation Policy Impact
Effective tax rate impacted by deferred tax assets of INR 65.31 million in FY 2024-25 due to losses.
Risk Analysis
Key Uncertainties
The primary uncertainty is the timeline for the Kavach system safety approval, which is critical for the company's return to profitability in FY26.
Geographic Concentration Risk
Operations are concentrated in a single manufacturing unit in Punjab, India.
Technology Obsolescence Risk
High risk due to the need for continuous technological upgrades in electronic interlocking and train control systems.
Credit & Counterparty Risk
Trade Receivables Turnover Ratio declined 37.04% from 5.49 to 3.46, indicating a slowdown in collections. Trade receivables stood at INR 310 million (Current + Non-current) as of September 2025.
