India · Delayed Price · Currency is INR Centum Electronics Earnings Call Transcripts
Fiscal Year 2027
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Q1 revenue grew and the order book strengthened, while project phasing weighed on margins. Management reiterated ~25% growth guidance, citing stronger later-quarter execution and expanding BTS, EMS and semiconductor opportunities.
Fiscal Year 2026
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Standalone FY26 revenue rose 25% YoY and the order book grew 23%, while overseas restructuring clarified the core business focus. Medium-term growth target remains 25%-30%, with a 13%-15% EBITDA margin objective and supply-chain lead times a watchpoint.
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Continuing operations posted strong Q3 growth, while Canada and France restructuring drove substantial one-time charges. Defense-system wins, semiconductor EMS growth and a stronger Q4 order pipeline underpin the outlook.
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Standalone H1 revenue grew 24% and PAT 182% YoY; FY26 standalone targets are 30% revenue growth and 13%-15% EBITDA margin. Subsidiary losses and weak European demand remain drags, with Canada and Europe actions underway.
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Q1 FY26 revenue rose 11% consolidated and 35% standalone, led by domestic Build-to-Spec deliveries; the order book reached INR 1,769 crore. Growth targets remain strong, while subsidiary losses and delayed European ER&D demand are key recovery challenges.
Fiscal Year 2025
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Q4 rebounded strongly, while FY25 consolidated results remained burdened by Canadian subsidiary losses. FY26 guidance calls for 18%-20% consolidated revenue growth, 25%-28% standalone growth and a possible 10% consolidated EBITDA margin.
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Q3 consolidated revenue was INR281cr, down 6% YoY, with a 6.9% EBITDA margin and INR19cr net loss, mainly due to an exceptional item. Standalone demand remains strong, but Canadian losses reduced FY25 EBITDA expectations to INR100cr.
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Consolidated Q2 revenue rose 4.7% YoY and EBITDA 18%, while H1 EBITDA declined 8%. FY25 guidance targets 18%-20% revenue growth on a gross basis and INR 130 crore EBITDA, with H2 improvement expected from BTS, EMS and subsidiary growth.
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Q1 consolidated revenue was flat as net accounting obscured underlying 7% growth; margins were pressured by lower BTS mix. FY25 targets remain 18%–20% gross-basis growth, with H2 expected to drive BTS billing and margin recovery.