July 14, 2026
Blue Power Group Limited (BPOW)
Audited Financials for the twelve months ended April 30, 2026:
Blue Power Group Limited (BPOW) for the twelve months ended April 30, 2026, reported a 16% decrease in Revenue totalling $814.07 million compared to $963.46 million in the corresponding period last year. Based on the fourth-quarter figures provided, Revenue for the fourth quarter declined by 17% to $228.98 million compared to $275.97 million for the comparable quarter of 2025.
Cost of Revenue amounted to $553.78 million (2025: $640.08 million), representing a decrease of 13% year over year. Consequently, Gross Profit decreased by 20% to $260.30 million compared to $323.38 million for the twelve months ended April 30, 2025. Gross Profit for the fourth quarter amounted to $67.85 million, representing a 22% decrease from $87.17 million for the corresponding quarter of 2025.
Impairment on Trade Receivables increased to $314,018 from $155,634 in 2025, while Other Impairment Losses increased to $510,538 from $176,656. Administrative and Other Expenses increased by 7% to $241.64 million from $226.62 million in the prior year. Other Income increased by 10% to $13.82 million from $12.56 million. As a result, Operating Profit for the twelve months ended April 30, 2026, amounted to $31.65 million, representing a 71% decrease from $108.98 million reported in 2025.
The Share of Profit of Associated Company increased by 5% to $22.12 million from $21.10 million in 2025. Consequently, Profit Before Net Finance Income and Taxation decreased by 59% to $53.77 million compared to $130.08 million in the prior year.
Finance Income decreased by 33% to $24.92 million from $37.12 million, while Finance Costs decreased by 17% to $2.36 million from $2.85 million. As a result, Net Finance Income declined by 34% to $22.57 million compared to $34.27 million in 2025.
Profit Before Taxation for the twelve months ended April 30, 2026, amounted to $76.34 million, representing a 54% decrease from $164.35 million in 2025. Taxation decreased by 41% to $16.13 million from $27.56 million in the prior year. Consequently, Net Profit decreased by 56% to $60.21 million compared to $136.79 million in 2025. Based on the fourth-quarter figures provided, Net Profit for the fourth quarter amounted to $13.71 million, compared to $35.49 million in the prior year’s quarter.
Other Comprehensive Income, reflecting the change in fair value of the Group’s interest in an associated company, amounted to $7.89 million compared to $10.26 million in 2025. As a result, Total Comprehensive Income for the year declined by 54% to $68.10 million compared to $147.05 million in the prior year.
Consequently, Earnings Per Share for the twelve months amounted to $0.11 compared to $0.24 in 2025, while Earnings Per Share for the fourth quarter amounted to approximately $0.02 compared to $0.06 in the corresponding quarter of 2025. The twelve-month trailing EPS was $0.11, and the number of shares used in these calculations was 564,990,000.
Notably, BPOW’s stock price closed the trading period on July 14, 2026, this represents a P/E ratio of approximately 31.72x.
Balance Sheet Highlights
The Group’s Total Assets amounted to $1.85 billion at April 30, 2026, representing a marginal 1% decrease from $1.87 billion in 2025. The slight decline was mainly driven by lower Inventories, which fell to $290.00 million from $444.43 million, as well as a decrease in Accounts Receivable and Prepayments to $145.82 million from $162.29 million. Property, Plant and Equipment also declined to $305.60 million from $328.91 million, while Right-of-Use Assets decreased to $6.16 million from $7.19 million.
Total Equity increased slightly to $1.75 billion from $1.74 billion in 2025, representing a book value per share of approximately $3.10 compared to $3.08 in the prior year.
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