MSAFE
MSafe FY26 Revenue Up 45% to ₹10,349.96 Lakh
11 May 2026 · 11 May, 1:44 pm
Summary
MSAFE Equipments Limited announced a strong financial performance for the second half and full year ended FY26, with total revenue for the full year reaching ₹10,349.96 lakh, marking a 45.08% year-over-year increase. The company's Profit After Tax (PAT) also saw significant growth, surging by 72.33% year-over-year to ₹2,242.02 lakh. Operational efficiency improved considerably, reflected in EBITDA margins expanding by 294 basis points to 39.49% and PAT margins by 342 basis points to 21.66%. Chairman & Managing Director Mr. Pradeep Aggarwal highlighted strategic capacity expansions, including exceeding MS scaffolding capacity targets and a new foray into the formwork segment, expressing confidence in accelerating growth for FY27, targeting at least 50% revenue growth driven by their high-margin rental-led business model.
Key Highlights
- 1
MSAFE Equipments Limited reported a significant increase in total revenue for FY26, reaching ₹10,349.96 lakh, a 45.08% rise year-over-year.
- 2
EBITDA for FY26 grew by 56.72% year-over-year to ₹4,086.75 lakh, demonstrating robust operating performance.
- 3
EBITDA margins expanded by 294 basis points to 39.49% in FY26, up from 36.55% in FY25.
- 4
Profit After Tax (PAT) for FY26 surged by 72.33% year-over-year to ₹2,242.02 lakh, indicating strong bottom-line growth.
- 5
PAT margins showed strong expansion, increasing by 342 basis points to 21.66% in FY26 compared to 18.24% in FY25.
- 6
MS Scaffolding's capacity was increased significantly to 6,285 TPA from 3,285 TPA, achieved ahead of schedule through temporary rented facilities.
- 7
The company forayed into the formwork division with plans to commence 500 TPA capacity by December 2026.
Management Comments
Pradeep Aggarwal
We are pleased to have successfully raised growth capital through our IPO, which is being strategically deployed towards expanding our scaffolding capacity by nearly 2x. I am also pleased to share that the MS scaffolding capacity expansion committed during the IPO has already been achieved significantly ahead of schedule through temporary rented facilities, enabling us to meet growing demand and accelerate our growth momentum. During the year, we have also forayed into the formwork segment with a 500 Ton planned capacity expansion, marking a key milestone in our evolution from a safety equipment provider to an integrated structural equipment solutions company. With the launch of our flagship products and the onboarding of experienced professional management, we are building a strong foundation for the next phase of growth. Looking ahead, we remain confident of accelerating our growth trajectory. With the commissioning of new manufacturing capacity, expansion into complex and value-added products, and increasing focus on scaffolding and formwork solutions, we expect growth to pick up meaningfully from FY27 and are targeting at least 50% revenue growth. We will continue to double down on our rental-led business model, which offers superior margins, strong return ratios, and predictable cash flows.
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