CPL Q4 FY26 Guidance vs Delivery (CPL Management Mirror)

Revenue Growth & Business Mix

Management slightly revised the micro-irrigation growth target to a 20% to 25% average over the next three years in the Mar'26 Qtr, adjusting from the firm 25% CAGR guided in the Sep'25 and Dec'25 Qtrs. The company reaffirmed its strategic goal to shift its revenue mix to an equal 50:50 distribution between Micro-Irrigation and Solar EPC over the next two years, driven by aggressive solar scale-up. Furthermore, in the Mar'26 Qtr, management set a new target to increase micro-irrigation export contributions from the current ~5% to double digits over the next five years, focusing on African and Latin American markets. [Status: Downgraded]