Prostarm Info Systems Ltd(PROSTARM)

NSE: PROSTARMBSE: 544410

₹ 118.25-1.00%refreshed 26 Oct, 01:52 pm ISTMarket cap: ₹ 696 crWebsite: www.prostarm.comUpdated: 24 Oct 2026

About

Prostarm Info Systems designs, makes, sells and services energy storage and power conditioning equipment in India, including UPS systems, inverters, lithium-ion battery packs, servo-controlled voltage stabilizers and isolation transformers. It also carries out solar and BESS EPC projects. Its revenue for FY26 was Rs 385.77 Cr. Its order book, including L1 orders, stood at INR 1,090 crores as of 30 June 2026, and BESS is the largest part of it.^[1][2]

Order book

The order book including L1 status stood at INR 10,902 Mn as of 30 June 2026, compared with INR 12,022 Mn at the end of FY26.^[3]
In the Q1 FY27 order book, BESS-Developer orders made up INR 8,538 Mn and Solar EPC orders made up INR 1,851 Mn.^[3]
Bids under evaluation were over INR 2,000 crores in Q1 FY27, compared with INR 2,567 Mn in FY26.^[3]
At the end of Q3 FY26 the order book was INR 9,460 Mn across 91 projects, of which INR 8,965 Mn was BESS.^[4]

Products and services

As of FY25 the portfolio covers UPS systems, inverters (including lift and solar hybrid inverters), lithium-ion battery packs, servo-controlled voltage stabilizers and isolation transformers.^[1]
As of FY25 the UPS range runs from line-interactive models to online models of up to 500 kVA.^[1]
Since 2018 the Solar EPC business has installed 10.56+ MW of rooftop solar across 100+ sites (as of FY25).^[1]
The company makes isolation transformers after taking over the assets, know-how and staff of Transformers and Electronics Private Limited.^[1]

Manufacturing and utilisation

Unit I in Pisoli, Pune (16,000 sq. ft.) makes UPS systems, isolation transformers and servo voltage stabilizers (FY25).^[1]
Unit II (24,000 sq. ft.) is run by the subsidiary Prostarm Energy Systems. It makes UPS systems, solar hybrid inverters and lift inverters (FY25).^[1]
Capacity utilisation in Q1 FY27 was 45% at Unit 1 in Pune, 29% at Unit 2 in Pune and 16% at the lithium battery pack unit (Unit 3) in Navi Mumbai.^[3]
In H1 FY26 the two Pune units each ran at 23% utilisation and the Navi Mumbai lithium-ion unit ran at 19%.^[5]
The company employed over 350 people as of FY25.^[1]

Expansion and capex

The BESS facility at Reliance MET City, Jhajjar, Haryana covers 42,110 sq. ft. It has 1.2 GWh of capacity on one shift, which can be extended to 2.4-2.5 GWh on two shifts. Capex is INR 250 Mn.^[1][4]
Management cut its FY27 utilisation target for Jhajjar to 20-25%, serving only the C&I segment. Its FY28 target is 40-50%, with revenue potential of about INR 500 crores.^[3]
The UPS facility at Bakrol, Gujarat covers 1 kVA to 600 kVA, with about Rs 6 crores of capex. It will assemble UPS units from SKD kits instead of importing finished units from China.^[3]
The company said operations at the 1.2 GWh BESS unit, the new UPS unit and the servo stabiliser line would begin on 25 September 2026.^[6]

BESS strategy

For about 10 months up to Q1 FY27 the company stopped bidding for utility-scale BESS projects because margins there had fallen. It now focuses on commercial and industrial (C&I) BESS.^[3]
The company is looking to sell down its two BESS developer SPVs, Bihar (30MW/120MWh) and Karnataka/KPTCL (150MW/300MWh), while keeping the EPC work.^[7]
The Karnataka sell-down comes first, once a legal dispute is resolved. Debt for the Bihar SPV is to be arranged with SBI (Q1 FY27).^[3]
The KPTCL LOA covers a 150 MW/300 MWh BESS project under a build-own-operate model, paid as monthly rental over 12 years (disclosed in Q2 FY26).^[5]

Customers and distribution

In FY25 the company served over 750 customers. Clients of three or more years brought in 51% of revenue, and clients of over five years brought in 37%.^[1]
The company is empanelled with bodies including Airports Authority of India, RailTel, State Bank of India and Power Grid Corporation of India.^[1]
As of FY25 its network reached 170+ districts through 23 branch offices in 19 states and 2 union territories, plus 400+ dealers and distributors.^[1]
Finished UPS units imported from China made up about 13% of revenue in 9M FY26. The company aims to end these imports by the end of FY27.^[4]
The company is exploring markets in Bangladesh, Sri Lanka, Nepal, Africa and the Middle East.^[1][5]

Working capital

Working capital days were 168 in Q1 FY27, compared with 185 in Q4 FY26 and 68 in FY25.^[3]
Trade receivables fell from INR 254 crores in March 2026 to INR 231 crores in June 2026.^[3]

Recent developments

On 15 October 2026 the company allotted 28,98,717 convertible warrants at Rs. 147 each, raising Rs. 42,61,11,399. The warrants convert into equity shares after 18 months, and 25% of the subscription amount was received upfront.^[8]
On 1 October 2026 BSE and NSE gave in-principle approval for the preferential issue of up to 28,98,717 warrants at Rs. 147 per warrant.^[9]
In September 2026 the company received a domestic order worth Rs. 3.67 Crores from Rayzon Energy to supply and install 2400 kVA and 500 kVA UPS systems.^[10]
In Q1 FY27 the company won a solar EPC order worth about INR 165 crores from Solarium Green Energy and a BESS order worth about INR 11 crores from a corporate customer.^[3]
On 29 July 2025 the Commissioner of Customs issued an order dropping a Show Cause Notice against the company.^[5]

Market Cap

₹696 Cr

High / Low

₹209 / 115

Stock P/E

19.8

Price / Book

2.5

Book Value

₹49

EPS

₹5.6

No. of Shares

5.89 Cr

ROCE

17.8%

ROE

16.9%

OPM

12.5%

Debt / Equity

0.29

Sales

₹386 Cr

Net Profit

₹33 Cr

Promoter holding

72.8%

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