Schneider Electric Infrastructure Limited Q3 FY26 Earnings Call Summary

Summary

Schneider Electric Infrastructure Limited - Q3 FY 2026 Earnings Call Summary Friday, February 13, 2026, 11:00 AM IST

Event Participants

Executives 3 Mohit Agarwal (Head - Investor Relations), Omkar Prasad (CFO), Udai Singh (MD & CEO)

Analysts 8 Anirudh (ValueQuest), Gunal Bansal (NBG Investments), Harshit Kapadia (Elara Securities), Mahesh Bendre (LIC Mutual Fund), Parimal Mithani (Credential Investments), Piyush (Batlivala & Karani Capital), Pratik Dharmshi (Union Mutual Fund), Sanjay Kohli (Goldstone Capital), Viraj Mithani (Jupiter Financial)

Financials & KPIs

Geographic & Segment Commentary

• Sunrise Segments: Significant wins in Data Centers, Renewables, and Semiconductors. The company secured an end-to-end solution order for a data center including power transformers and digitalized AIS panels, and a major order from a front-end fab manufacturer in Gujarat.
• Core Electro-intensive Segments: Stable performance in Metal, Mining, Minerals, Mobility, and Power & Grid. Key wins include 765 kV modernization SCADA systems and GIS panels for steel plants and metro networks in Western India.
• Power & Grid (Utilities): Focused on the RDSS scheme and modernization of state grids. Management is leveraging AI and ML solutions to improve grid resilience for state DISCOMs, as evidenced by the Patna digitalization project.

Company-Specific & Strategic Commentary

• Digitalization & EcoStruxure: The company is pivoting from equipment supplier to an “energy technology partner.” Strategy centers on the EcoStruxure platform, integrating connected products and edge control with analytics to manage multidirectional energy flows.
• Product Launch - GMSeT: Launched a primary distribution gas-based modular digital switchgear (33 kV) fully manufactured in India. It features embedded sensors for predictive maintenance, targeting airports, data centers, and high-rise buildings.
• Manufacturing & Sustainability: Investing in capacity expansion across three plants in Vadodara. Sustainability initiatives include 1MW on-site solar (25% of energy mix) and zero liquid discharge systems.

Guidance & Outlook

Risks & Constraints

Q&A Highlights

Order Pipeline & Visibility

• Question: How does the order pipeline look following the ₹900 crore inflow this quarter? (Mahesh Bendre)
• Answer: Backlog stands at ₹1,700 crores (+50% YoY). Government push in infrastructure and private capex in “sunrise” sectors provide high visibility (Udai Singh).

Data Center Contribution

• Question: What is the current contribution of data centers to the order book? (Anirudh)
• Answer: Currently, data centers contribute roughly 10% of orders, with expectations for this to scale as IT loads grow 4x in the next 5 years (Udai Singh).

Margin & Product Mix

• Question: Why did gross margins contract this quarter? (Anirudh)
• Answer: The dilution is purely due to the mix between transactional products, services, and large projects. Management is leveraging fixed costs better as revenue grows (Omkar Prasad).

Dividend Policy

• Question: When can shareholders expect a dividend distribution? (Parimal Mithani)
• Answer: The company has a dividend policy on the website. The Board is evaluating operational and strategic requirements before making a final determination (Omkar Prasad).

Specialized Solutions (E-House)

• Question: What is the market for E-House/compact substations in India? (Viraj Mithani)
• Answer: The addressable market is roughly ₹1,400 crores. These plug-and-play solutions are critical for data centers where “speed to market” is the priority (Udai Singh).

Key Takeaway

Schneider Electric Infrastructure Limited delivered a landmark performance in Q3 FY26, crossing the ₹1,000 crore quarterly revenue threshold for the first time with 20% YoY growth. The company’s strategic shift toward becoming an “energy technology partner” is evidenced by a 60% jump in quarterly order inflows (₹909 crores) and a robust backlog of ₹1,700 crores. Strategic focus remains on “sunrise” segments—data centers, semiconductors, and renewables—while leveraging the EcoStruxure platform to add digital layers to core distribution equipment. Despite a ₹25 crore exceptional hit due to labor code changes and slight margin pressure from product mix, the company maintained strong operational leverage. Management remains optimistic about the FY27 outlook, supported by a ₹12.2 lakh crore government capex plan and domestic manufacturing resilience, though they remain cautious of geopolitical volatility and commodity pricing.