Schneider Electric Infrastructure financials and balance sheet

NSE: SCHNEIDERBSE: 534139Electrical EquipmentSmall Cap

₹1,114.10₹36.60 (3.18%)BSE ₹1,112.00

Share price at the NSE close on 23 Oct 2026. Previous close ₹1,150.70.

52-week range of traded prices to 23 Oct 2026

₹571.85Low, 21 Jan 2026₹1,548.00High, 8 Jul 2026

Market cap: ₹26,639 Cr315th largest listed
P/E: 145.0
P/B: 34.4
Dividend yield: Nonein the last 12 months
ROE: 27.5%
ROCE: 24.7%
Debt to equity: 0.57
Volume, NSE: 2,12,19835.5% delivered

10 years at a glance

Standalone: the listed company alone, without its subsidiaries. ₹ crore, years to March.Schneider Electric Infrastructure annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings
Loss

Peak revenue ₹2,891 Cr, year to Mar 2026A loss in 4 of the 10 years shown

Operating and net margin, per cent

Operating margin
Net margin

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 3.7% of operating profit in the first full year.

Results for the year to Mar 2026

Standalone: the listed company alone, without its subsidiaries. ₹ crore.

From revenue to net profit

Revenue2,891
Materials and goods−1,824
Employee costs−337
Other expenses−359
Operating profit371
Depreciation−32
Other income+18
One-off items−14
Finance costs−51
Profit before tax292
Tax−79
Net profit213

What the company owns

Receivables₹813 Cr
Plant, investments and other assets₹753 Cr
Inventory₹421 Cr
Cash and bank₹358 Cr

What pays for it: net worth and liabilities

Net worth₹774 Cr
Owed to suppliers₹628 Cr
Other liabilities₹498 Cr
Borrowings₹444 Cr

Profit and loss

Standalone, ₹ crore, years to March.Schneider Electric Infrastructure quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019Filed 29 May	Mar 2020Filed 17 Jun	Mar 2021Filed 24 Jun	Mar 2022Filed 23 May	Mar 2023Filed 24 May	Mar 2024Filed 24 May	Mar 2025Filed 16 Jun	Mar 2026Filed 28 May
Revenue from operations	1,265	1,334	1,384	1,384	1,297	1,530	1,777	2,207	2,637	2,891
	1,386	1,353	1,360	1,357	1,233	1,444	1,609	1,911	2,254	2,520
Materials and goods bought	876	936	1,001	983	896	1,081	1,209	1,398	1,631	1,824
Employee costs	–	–	200	210	185	210	236	271	301	337
Other expenses	–	–	159	165	152	152	165	242	322	359
Operating profit before depreciation	−121	−19	24	27	64	86	168	296	383	371
Operating margin	−9.5%	−1.4%	1.7%	1.9%	4.9%	5.6%	9.4%	13.4%	14.5%	12.8%
Materials, % of revenue	–	–	72.3%	71.0%	69.1%	70.7%	68.0%	63.3%	61.8%	63.1%
Employee costs, % of revenue	–	–	14.4%	15.1%	14.2%	13.7%	13.3%	12.3%	11.4%	11.6%
Other expenses, % of revenue	–	–	11.5%	11.9%	11.7%	10.0%	9.3%	11.0%	12.2%	12.4%
Depreciation and amortisation	26	27	26	22	22	17	19	22	25	32
Operating profit after depreciation	−146	−46	−2	5	42	69	149	274	357	339
Other income	26	25	50	12	19	10	12	9	25	18
Finance costs	32	44	44	48	48	48	53	69	49	51
Profit before one-off items and tax	−153	−65	4	−31	12	30	108	214	333	306
One-off items	−7	–	0	1	−13	−3	15	−4	18	−14
Profit before tax	−160	−65	4	−30	−1	28	124	210	350	292
	–	–	0	0	0	0	0	38	82	79
Current tax	–	–	0	0	0	0	0	53	85	80
Deferred tax	–	–	0	0	0	0	0	−15	−2	0
Net profit	−160	−65	4	−30	−1	28	124	172	268	213
Other comprehensive income	–	–	0	−10	3	5	−9	−27	−2	0
Total comprehensive income	–	–	4	−39	2	33	115	145	266	213
Net margin	−12.6%	−4.8%	0.3%	−2.1%	−0.1%	1.8%	7.0%	7.8%	10.2%	7.4%

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank.

Earlier years, Mar 2012 to Mar 2016

₹ crore	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016
Revenue from operations	1,354	1,310	1,216	1,310	1,403
	1,255	–	1,300	1,334	1,361
Materials and goods bought	954	898	870	976	995
Employee costs	122	–	143	152	168
Other expenses	178	–	286	207	198
Operating profit before depreciation	99	–	−84	−24	42
Operating margin	7.3%	–	−6.9%	−1.8%	3.0%
Materials, % of revenue	70.5%	–	71.5%	74.4%	70.9%
Employee costs, % of revenue	9.0%	–	11.8%	11.6%	12.0%
Other expenses, % of revenue	13.2%	–	23.6%	15.8%	14.1%
Depreciation and amortisation	22	–	23	25	26
Operating profit after depreciation	77	–	−107	−48	16
Other income	–	7	45	70	11
Finance costs	16	32	26	39	43
Profit before one-off items and tax	61	−18	−88	−17	−16
One-off items	–	−10	−37	–	−2
Profit before tax	61	−28	−125	−17	−18
Tax	22	0	–	11	–
Net profit	40	−28	−125	−29	−18
Net margin	2.9%	−2.2%	−10.3%	−2.2%	−1.3%

Standalone, ₹ crore, years to March.

Balance sheet

Standalone, ₹ crore, at 31 March.

₹ crore	Mar 2019Filed 29 May	Mar 2020Filed 17 Jun	Mar 2021Filed 24 Jun	Mar 2022Filed 23 May	Mar 2023Filed 24 May	Mar 2024Filed 24 May	Mar 2025Filed 16 Jun	Mar 2026Filed 28 May
	23	1	4	36	151	296	562	774
Share capital	48	48	48	48	48	48	48	48
Reserves	−24	−46	−44	−12	103	248	514	727
	452	478	538	499	467	469	522	444
Repayable after a year	116	362	377	394	397	413	516	444
Repayable within a year	336	115	161	105	70	56	6	0
	1,017	724	738	712	770	744	806	971
Trade payables	472	446	428	459	540	444	500	628
Other financial liabilities	18	13	16	14	13	14	66	79
Other liabilities	74	68	63	65	77	102	112	144
Provisions	117	81	71	70	69	89	119	120
Tax owed	–	–	0	–	–	40	3	–
	140	394	407	421	434	541	565	598
Other financial liabilities	–	10	4	–	5	72	–	90
Other liabilities	3	2	0	4	2	2	–	–
Provisions	22	19	21	19	29	46	46	61
Deferred tax	–	–	0	–	–	6	3	3
	1,181	1,119	1,149	1,170	1,355	1,582	1,933	2,344
Held for sale or for a demerger	4	–	–	–	–	–	–	–
	409	388	386	389	416	507	562	664
Plant in use, after depreciation	303	225	220	227	320	251	419	297
Plant being built	6	3	8	5	14	32	86	102
Intangible assets	5	3	0	0	0	0	0	0
Property held to earn rent	–	–	0	–	0	–	0	164
Other financial assets	2	2	1	1	2	1	2	2
Deferred tax	22	0	–	30	34	–	0	–
Trade receivables	2	5	3	0	–	0	0	–
Other assets	69	151	154	125	46	223	55	99
	768	731	763	781	939	1,075	1,370	1,680
Inventories	242	218	220	226	297	297	339	421
Trade receivables	414	421	426	443	546	656	667	813
Cash and cash equivalents	18	13	23	36	20	47	258	358
Other bank balances	0	0	0	0	0	0	0	0
Other financial assets	1	12	3	6	5	5	2	13
Tax paid in advance	–	–	0	–	–	70	–	–
Other assets	92	67	91	70	71	–	104	76
Net debt	434	465	515	462	447	422	263	86

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Standalone, ₹ crore, years to March.

₹ crore	Mar 2021Filed 24 Jun	Mar 2022Filed 23 May	Mar 2023Filed 24 May	Mar 2024Filed 24 May	Mar 2025Filed 16 Jun	Mar 2026Filed 28 May
	8	120	95	192	308	225
	9	122	98	209	402	315
	−77	33	−87	−132	−13	−36
Receivables	−14	−14	−91	−123	0	−139
Inventories	−2	−6	−72	1	−42	−82
Payables	−18	31	76	−39	49	126
Other working capital	−42	21	0	29	−20	59
Tax paid	−1	−2	−3	−17	−94	−90
Capital spending	10	26	38	58	63	104
Free cash flow	−3	95	57	134	245	120
	−9	−25	−38	−57	−63	−93
Plant and property sold	1	0	0	1	0	0
Interest received	0	0	0	0	0	11
	11	−82	−71	−107	−30	−35
Borrowings raised	42	3	0	0	0	0
Borrowings repaid	0	−55	−30	−72	0	0
Interest paid	−29	−27	−37	−33	−30	−29
Lease payments	−2	−3	−3	0	−3	−6
Dividends paid	0	0	0	0	0	0
Shares bought back	0	0	0	0	0	0
Shares issued	0	0	0	0	0	0
Net change in cash	9	13	−14	28	215	96

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Standalone, ₹ per share, years to March.Schneider Electric Infrastructure dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019Filed 29 May	Mar 2020Filed 17 Jun	Mar 2021Filed 24 Jun	Mar 2022Filed 23 May	Mar 2023Filed 24 May	Mar 2024Filed 24 May	Mar 2025Filed 16 Jun	Mar 2026Filed 28 May
Earnings per share	−₹7.38	−₹2.72	–	−₹1.24	−₹0.04	–	₹5.17	₹7.19	₹11.20	₹8.89
Diluted earnings per share	−₹7.38	−₹2.72	–	−₹1.24	−₹0.04	–	₹5.17	₹7.19	₹11.20	₹8.89
Book value per share	–	–	₹0.98	₹0.06	₹0.15	₹1.51	₹6.32	₹12.39	₹23.50	₹32.39
Shareholder yield	–	–	–	–	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Market cap at the year end (₹ crore)	3,393	2,664	2,685	1,571	2,257	2,835	3,723	17,719	15,981	20,223

Earnings per share is left blank for the year to Mar 2019: the earnings per share stated has the opposite sign to the profit stated beside it, so it is not shown. Earnings per share is left blank for the year to Mar 2022: the earnings per share is stated as 0 while the period's profit or loss comes to at least half a paisa a share, so the 0 stands in for a figure the filing does not give.

Ratios

Standalone, years to March.Schneider Electric Infrastructure PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019Filed 29 May	Mar 2020Filed 17 Jun	Mar 2021Filed 24 Jun	Mar 2022Filed 23 May	Mar 2023Filed 24 May	Mar 2024Filed 24 May	Mar 2025Filed 16 Jun	Mar 2026Filed 28 May
Revenue growth	−9.8%	5.4%	3.8%	0.0%	−6.3%	18.0%	16.1%	24.2%	19.5%	9.6%
Operating profit growth	–	–	–	11.8%	136.7%	35.0%	94.8%	76.4%	29.4%	−3.1%
Net profit growth	–	–	–	–	–	–	347.6%	39.2%	55.7%	−20.7%
Earnings per share growth	–	–	–	–	–	–	–	39.1%	55.8%	−20.6%
	–	–	15.6%	−238.5%	−40.8%	139.3%	132.1%	76.9%	62.4%	31.8%
	–	–	–	−254.1 pts	197.7 pts	180.1 pts	−7.2 pts	−55.1 pts	−14.5 pts	−30.6 pts
From the net margin	–	–	–	−142.0 pts	229.8 pts	986.2 pts	397.4 pts	15.9 pts	23.3 pts	−17.2 pts
From asset turnover	–	–	–	−3.4 pts	0.4 pts	145.8 pts	35.7 pts	10.0 pts	−0.2 pts	−4.5 pts
From borrowing	–	–	–	−108.7 pts	−32.6 pts	−951.9 pts	−440.4 pts	−81.1 pts	−37.7 pts	−8.9 pts
Return on capital employed	–	–	−0.4%	1.1%	7.7%	12.9%	24.1%	35.8%	33.0%	27.8%
Cash conversion	–	–	–	–	–	435.8%	76.5%	111.6%	114.9%	105.6%
Interest cover	–	–	–	0.1	0.9	1.4	2.8	4.0	7.3	6.7
Debt to equity	–	–	19.33	339.64	151.78	13.80	3.09	1.58	0.93	0.57
Receivable days	–	–	109	111	120	106	112	108	92	103
Inventory days	–	–	88	81	90	76	90	77	76	84
Payable days	–	–	172	166	174	155	163	116	112	126
Cash conversion cycle, days	–	–	25	27	35	27	39	70	56	61
Working capital days	–	–	18	29	46	33	45	56	43	44
Asset turnover	–	–	1.17	1.20	1.14	1.32	1.41	1.50	1.50	1.35
Assets per rupee of net worth	–	–	50.49	92.76	458.00	58.45	13.49	6.57	4.10	3.20
Sales per rupee of plant	–	–	4.57	6.16	5.91	6.74	5.56	8.79	6.29	9.73
Capital spending to depreciation	–	–	–	–	0.47	1.48	2.03	2.63	2.49	3.23
Plant being built, % of plant in use	–	–	1.9%	1.3%	3.5%	2.1%	4.4%	12.7%	20.5%	34.3%

Interest cover is left blank for the years to Mar 2017, Mar 2018 and Mar 2019: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Standalone: the listed company alone, without its subsidiaries. Each window ends with the year to Mar 2026.

Return on assets, latest year: 9.9%
Cash from operations against operating profit: 60.5%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	7.5%	17.4%	17.6%
Profit growth, yearly rate	–	–	19.8%
Return on equity, average	–	88.5%	57.1%
Return on capital employed, average	–	26.7%	32.2%
Operating margin, average	5.3%	11.2%	13.6%
Net margin, average	1.5%	6.8%	8.4%
Asset turnover, average	–	1.42	1.45
Cash conversion cycle, days, average	–	51	62
Interest cover, average	–	4.4	6.0
Debt to equity, average	–	4.00	1.03

Where the cash came from and went

Standalone: the listed company alone, without its subsidiaries. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	939	724	225
Cash from investing	−275	−213	−93
Cash from financing	−325	−173	−35
Capital spending	289	225	104
Dividends paid	0	0	0
Shares bought back	0	0	0
Shares issued for cash	0	0	0
Borrowings raised	3	0	0
Borrowings repaid	158	72	0

Accounting checks

Standalone, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	6	7	8	9	8	6
Altman Z-scorePublished threshold 1.81	2.42	2.08	2.42	3.08	3.85	10.72	9.76	10.24
Beneish M-scorePublished threshold −1.78	–	–	−2.54	−2.72	−2.34	−1.89	−2.70	−1.86
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	0.07	−5.82	5.28	2.52	1.29	3.79
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	1.48	1.26	1.05	1.11
Receivables growth less revenue growthOur threshold 0 percentage points	–	1.75	7.56	−14.06	7.07	−4.02	−17.79	12.20
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	−7.98	9.65	−18.16	19.98	−15.87	−2.46	12.25
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	−1.09	1.16	−1.16	0.03	−0.06	1.18	−0.61
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	0.46	0.19	0.13	–	0.44	–
Effective tax ratePublished threshold 17.16 per cent	0.00	–	–	0.00	0.00	18.08	23.54	27.10
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	−7.35	−2.71	10.07	−3.35	−3.92

A threshold marked as ours has no published figure; it is the line we read the check against.