Yash Highvoltage Share Price Target 2026, 2027, 2028, 2029, 2030

Yash Highvoltage share price today

Yash Highvoltage makes transformer bushings: engineered components that allow a high-voltage conductor to pass safely through a grounded transformer tank or other electrical enclosure. A bushing is a small part of the cost of a power transformer but a critical part of its reliability. Qualification, installed performance and customer approvals can therefore matter more than consumer brand visibility.

At the 25 August 2026 research cut-off, the Yash Highvoltage share price on the BSE SME platform closed near ₹913. Screener showed a market capitalisation of roughly ₹2,730 crore, FY26 EPS of ₹13.07 and a P/E of about 70.1 times. The company’s live symbol is not reliably supported by the site quote provider, so the widget is informational and the completed BSE session is the valuation reference.

The operating story is strong: FY26 revenue and profit expanded rapidly, the order book exceeded annual sales, and a new facility is designed to extend capacity and voltage capability. The investment tension lies in the starting price. A demanding multiple, heavy expansion spending, SME liquidity and a recent vendor-impersonation fraud leave little room for execution errors. A useful Yash Highvoltage share price target must test both earnings growth and multiple compression.

Bushings are a specialised reliability product

Transformer bushings have to manage electric stress, insulation, thermal load and mechanical conditions over a long service life. Failure can take an expensive transformer out of service. Utilities and transformer manufacturers therefore rely on testing, type approvals and operating history when they select suppliers. This creates a qualification barrier, but it also lengthens the time required for a new product or plant to translate into commercial volume.

Yash supplies oil-impregnated paper, resin-impregnated paper and other bushing types, along with repair, retrofit and related high-current products. The company has said its installed base exceeds 45,000 units across more than 60 countries. That history can support customer confidence, although FY26 sales were still predominantly domestic.

Product or service	FY26 role	Economic significance
Resin-impregnated paper bushings	83% of revenue	Core growth engine and focus of new capacity
Oil-impregnated paper bushings	10% of revenue	Established technology with a smaller mix share
High-current bushings	3% of revenue	Product extension with qualification potential
Other products and services	4% of revenue	Includes supporting and adjacent activities
Retrofit activity	About 6–7% of revenue	Installed-base opportunity with service characteristics

RIP products avoid oil inside the condenser core and can offer fire-safety and environmental advantages in suitable applications. The secular opportunity is credible as India expands its power network and grid equipment ages. It does not remove competition, customer testing or the possibility that an order moves from one half-year to the next.

FY26 growth established a much higher earnings base

The company’s audited FY26 presentation reported revenue of ₹235.1 crore, up 57% year on year. EBITDA reached ₹60.4 crore, rising 75%, while profit after tax was ₹37.4 crore, also up 75%. EBITDA margin improved to 25.7% and PAT margin to 15.9%.

FY26 consolidated measure	Result	Year-on-year change	Reading
Revenue	₹235.1 Cr	+57%	Strong shipment and order execution
EBITDA	₹60.4 Cr	+75%	Profit grew faster than sales
EBITDA margin	25.7%	Expansion	Attractive, but needs cycle testing
Profit after tax	₹37.4 Cr	+75%	Supports FY26 EPS of ₹13.07
PAT margin	15.9%	Expansion	Healthy for an equipment manufacturer

The second half was stronger than the first: H2 FY26 revenue was about ₹135.5 crore, EBITDA approximately ₹37.2 crore and PAT about ₹23.7 crore. That acceleration explains part of the market’s enthusiasm. It also sets a difficult comparator. Revenue recognition depends on production, testing, customer inspection and dispatch, so a half-year can look unusually strong or weak without changing the multi-year demand environment.

As a BSE SME company, Yash normally reports detailed financial statements on a half-yearly basis rather than the quarterly cadence familiar to main-board investors. No statutory Q1 FY27 profit-and-loss statement was available at this research cut-off. Investors should not invent a June-quarter trend from order announcements or management commentary; the latest complete earnings base is FY26.

Order book supports visibility, not guaranteed revenue

Management reported an order book of more than ₹400 crore at 31 March 2026, above the latest full-year revenue. It also communicated FY27 billing ambition of roughly ₹360–400 crore, fresh order bookings above ₹500 crore and an EBITDA-margin range of 24–25%. These are management goals, not audited outcomes.

Forward indicator	Management disclosure	Research treatment
Order book, 31 Mar 2026	More than ₹400 Cr	Supports visibility but requires execution
FY27 billing ambition	₹360–400 Cr	Track against audited half-year dispatches
FY27 order-booking ambition	More than ₹500 Cr	Do not equate bookings with revenue
FY27 EBITDA-margin guide	24–25%	Slightly below FY26 reported margin
Export share in FY26	7%	Diversification opportunity remains early

An order becomes revenue only after the required production, testing, inspection, acceptance and dispatch steps. Input availability, customer site readiness or delayed approvals can change timing. Cancellation risk may be low for critical equipment, but timing risk remains real. Investors should compare opening order book, new orders, revenue and closing order book every half-year instead of celebrating each award in isolation.

Domestic customers produced about 93% of FY26 revenue and exports about 7%. The installed footprint shows international credibility, but current earnings remain tied mainly to India. A higher export mix could diversify customers and open larger voltage markets; it may also bring longer approval cycles, freight, currency and country-specific compliance requirements.

The new RIP and RIS facility is the central execution project

Yash is investing roughly ₹153 crore in a greenfield facility at Vadodara. Management expects it to add around 6,000 units of capacity, localise RIP and resin-impregnated synthetic cores, and expand capability from 220 kV to 550 kV. Trial activity was guided for the end of Q2 FY27, with commercial production expected during H2 FY27.

This project can change the company’s addressable market. Higher-voltage products and in-house core manufacturing may improve product mix, supply control and margins after scale is reached. The sequence matters: construction, equipment installation, trial production, laboratory validation, customer approval, order qualification and utilisation do not occur simultaneously.

The first warning sign would be a delay without a clear revised commissioning path. The second would be commissioning on time but slow customer approvals. The third would be capacity utilisation achieved through pricing that weakens margin. Successful capex is measured by incremental profit and cash return, not by an inauguration date.

Readers can place the opportunity beside established transformer exposure in Voltamp Transformers, broader equipment manufacturing in CG Power, and another transformer maker in Atlanta Electricals.

Profit was strong, but expansion absorbed cash

Screener’s FY26 series shows sales of about ₹235 crore, operating profit near ₹57 crore and net profit around ₹37 crore. The slight EBITDA label difference versus the company presentation reflects metric construction and rounding. Both sources show the same broad direction: rapid scale and strong operating profitability.

Screener measure	FY26 or TTM reading	What it says
Sales	About ₹235 Cr	Matches the company’s audited growth direction
Operating profit	About ₹57 Cr	Operating margin near 24% on Screener
Net profit	About ₹37 Cr	Earnings base remains small in absolute terms
EPS	₹13.07	Starting point for the scenario model
Operating cash flow	About ₹9 Cr	Well below accounting profit
Estimated free cash flow	About negative ₹50 Cr	Expansion consumed capital
Borrowings	About ₹38 Cr	Higher while the plant is being built

Low FY26 cash conversion does not automatically mean weak earnings quality. Inventory, receivables and construction spending often rise ahead of revenue during an expansion. But the divergence cannot be ignored. The new plant has to convert work in progress into productive assets, then convert orders into collections. If cash flow remains far below profit after utilisation rises, the thesis needs reassessment.

The most useful cash-flow test spans multiple reporting periods: operating cash before expansion, capital expenditure, incremental working capital and eventual cash from the new capacity. A single strong profit year does not settle that test.

Returns and balance-sheet strength need post-capex confirmation

At the cut-off, Screener reported 28.6% ROCE, 23.5% ROE and debt to equity of 0.20. These are attractive backward-looking returns with moderate leverage. However, capital work in progress of roughly ₹52 crore at March 2026 had not yet contributed a full period of revenue. More capital will enter the denominator as the plant is completed.

Capital measure	25 Aug 2026 reading	Interpretation
ROCE	28.6%	Strong historic operating return
ROE	23.5%	Healthy shareholder return before full capex impact
Debt to equity	0.20	Moderate rather than balance-sheet-heavy leverage
Book value per share	₹64.40	Share traded at a substantial premium to book
Capital work in progress, Mar 2026	About ₹52 Cr	Plant not yet fully productive
Dividend yield	0.15%	Thesis depends on growth, not income

ROCE may temporarily fall when the facility is capitalised before utilisation ramps. That can be acceptable if it later recovers through higher sales and profit. Persistent decline would suggest the company added capacity faster than customer approvals or demand could absorb it.

Vendor-impersonation fraud is a governance and controls test

The FY26 audited results disclosed a cyber fraud of about ₹2.10 crore involving impersonation of a vendor. The company received material worth about ₹1.36 crore, leaving a non-receipt component near ₹0.739 crore. It recognised the loss as an exceptional item, filed complaints in April and said recovery efforts were under way. The auditor drew attention to the matter but did not modify the audit opinion.

The amount is not thesis-destroying relative to FY26 profit, but the event matters because it exposes payment controls. Investors should seek evidence of maker-checker discipline, independent verification of changed bank details, vendor call-backs and stronger email-domain controls. Recovery would help, but prevention is the more important governance outcome.

Promoter holding was about 57.24% in the June 2026 Screener series. For a controlled SME company, investors should also monitor related-party transactions, director changes, dilution and the use of issue proceeds. A high valuation increases the importance of timely, specific disclosures.

Yash Highvoltage valuation prices in substantial success

Valuation measure	25 Aug 2026	Interpretation
Share price	About ₹913	Completed BSE-session reference
Market capitalisation	About ₹2,730 Cr	Large relative to current earnings base
P/E	70.1×	Assumes high profit growth persists
Price to book	14.2×	Demands durable high returns on capital
EV/EBITDA	43.9×	Rich for an industrial manufacturer
PEG	Not meaningful	Listing history and growth base are too short
52-week range	₹366–₹1,025	High volatility across a wide range

The valuation is the largest constraint in the Yash Highvoltage share price target analysis. The market was capitalising more than current FY26 results; it was paying for order conversion, commissioning, customer approvals and years of growth. If those events occur but more slowly than expected, earnings can rise while the multiple falls.

Price to book above fourteen times also places a heavy burden on future ROE. Book value should grow through retained profit, while the share price already assumes that newly invested capital will earn strong returns. Any permanent margin decline or underutilised plant would weaken that assumption.

Yash Highvoltage share price target 2030 scenario framework

The model starts with TTM EPS of ₹13.07 and uses three combinations of earnings growth and exit P/E. The cautious case assumes good growth but major multiple normalisation. The middle case requires successful capacity ramp and order execution. The optimistic case requires exceptional compounding, sustained margin and continued investor willingness to award a premium.

Scenario	EPS growth assumption	P/E assumption	Operating interpretation
Bear	15% a year	40×	Growth continues but approvals or utilisation take longer
Base	25% a year	60×	Capacity, order conversion and margins progress broadly to plan
Bull	35% a year	80×	High growth persists with exports, cash conversion and premium valuation

The structured panel contains the annual numerical cases. They are deliberately not repeated in the prose because the assumptions deserve more attention than a single rupee output. The wide dispersion is a feature: a young listed company with a high P/E has unusually high sensitivity to both growth and the terminal multiple.

Methodology and the 128/365 timing convention

For each year (T), the calculation is:

Target(T) = EPS_TTM × (1 + g)^(T − 2026 + 128/365) × P/E

The 128/365 exponent fraction represents the model’s remaining stub period from the 25 August 2026 data cut-off. It gives the 2026 row a partial year of compounding rather than treating the cut-off and year-end as the same date. The unrounded result is rounded to the nearest ₹5, uniformly across each year and scenario.

This is an EPS-multiple framework, not a discounted cash-flow model or a chart prediction. It does not separately value the plant, order book or installed base. Those assets matter only to the extent that they produce future earnings. It also does not assume the current P/E persists: multiple choice is an explicit scenario variable.

Catalysts that could improve confidence

The clearest catalyst would be timely trial and commercial production from the new facility, followed by customer approvals and rising utilisation. A second would be order conversion that keeps FY27 revenue and EBITDA margin close to management’s communicated ranges. Higher exports, successful high-voltage qualifications and a greater retrofit contribution could broaden the earnings base.

Cash matters as much as revenue. Improving operating cash flow while the plant ramps would show that inventory and receivables are not permanently consuming the profit reported. Disclosure of capacity utilisation, customer approvals and working-capital days would reduce uncertainty.

Risks that can weaken the forecast

The forecast could fail because of commissioning delays, slow qualifications, order deferrals, input-price pressure, customer concentration, competition or weaker cash conversion. Transformer and utility customers can take time to approve new designs. A plant can be mechanically ready while commercial orders remain restricted by testing and vendor-registration processes.

SME-platform liquidity adds market risk. Lower trading depth can amplify both rallies and declines, create wider bid-ask spreads and make entry or exit harder than the screen price suggests. The wide 52-week range demonstrates volatility; it does not establish support or resistance.

Risk signal	What to monitor	Why it matters
Plant delay	Revised trial or commercial-production dates	Revenue ramp moves to later periods
Slow approval	Few new customer or voltage qualifications	Installed capacity may remain underused
Margin pressure	EBITDA margin below management’s range	Growth may earn a lower-quality return
Cash-flow lag	Receivables and inventory rise faster than sales	Profit may require continuing external capital
Control failure	Further payment or cyber incidents	Governance discount and financial loss
SME liquidity	Thin volumes and wide spreads	Realisable investor price can diverge from quote
Multiple compression	P/E falls despite EPS growth	Shareholder return can trail business progress

Who should track the company

Yash may belong on the watchlist of investors who understand capital goods, customer qualifications and small-company liquidity. It requires more ongoing work than simply applying a power-sector theme. The holder must follow plant commissioning, order conversion, margin, cash and disclosure quality through several half-year periods.

It is less suitable for investors who need frequent quarterly financials, income yield, deep trading liquidity or valuation support from current book value. The business can execute well and still deliver a poor share-price outcome if expectations embedded in the entry multiple prove too optimistic.

What to check in the next financial update

The next audited half-year update should show revenue conversion from the March order book, EBITDA margin, working-capital movement and operating cash flow. Investors should also check the exact status of the new plant: construction, trial run, commercial production and customer qualification are separate milestones and should not be combined into a single “commissioned” label.

The company’s financial reports page and investor presentations page are the primary sources. Our quarterly results calendar can help with timing, but the BSE filing should settle the actual reporting date.

Frequently asked questions

What was the Yash Highvoltage share price on 25 August 2026?

The completed BSE SME session used in this research closed near ₹913. Market prices can move sharply and SME liquidity can be thin, so investors should check the current executable quote rather than relying on the historical close.

What determines the Yash Highvoltage share price target?

The model uses FY26/TTM EPS, an assumed annual EPS growth rate and a future P/E multiple. In operating terms, order conversion, plant commissioning, customer approvals, margin and cash flow determine whether those assumptions are met.

Why is there no Q1 FY27 profit table?

Yash is listed on the BSE SME platform and its detailed statutory reporting is normally half-yearly. No complete June-quarter FY27 financial statement was available by the research date, so the analysis uses audited FY26 as the latest complete base.

Is the order book the same as revenue?

No. The order book represents contracted or scheduled business yet to be executed. Revenue follows production, testing, customer inspection, acceptance and dispatch, and timing may shift between reporting periods.

What is the biggest risk to the new capacity?

The plant could be physically ready before sufficient products and customers complete qualification. Slow approval or utilisation would delay revenue, reduce return on capital and make the current valuation harder to sustain.

Why does the cyber-fraud disclosure matter?

It tests payment and vendor-verification controls. The financial amount was manageable relative to FY26 profit, but repeated control failures would damage cash, trust and the governance assessment.

Sources and methodology

The operating facts come from Yash Highvoltage’s financial reports and results, including the 13 May 2026 audited FY26 result; its FY26 presentation, press release and earnings-call materials; and the company’s SEBI LODR disclosure archive for the greenfield project and cyber-fraud record. BSE filings provide the statutory record. Screener’s consolidated 544310 page supplied the completed 25 August price, FY26 series, ratios, balance-sheet items and shareholding data. The page was validated in the signed-in Chrome session; 544310.BO is the market-data alias for the requested YASHHV.BO ticker.

Presentation EBITDA and Screener operating profit can differ slightly because of definition and rounding. Management ambitions for billing, orders and margin are identified as guidance rather than converted into reported facts. All crore figures are rounded, and investors should use the original statements for exact line items.

Disclaimer

This article is research and education, not personalised investment advice or a recommendation to transact. Gale is not a SEBI-registered investment adviser. Scenario values are not promises. Verify current filings, financials, valuation, liquidity and suitability, and consult a registered adviser before acting.