Aimtron Electronics (AIMTRON) H2 25/26 earnings summary

Executive summary

• Achieved record revenue and profit growth in FY26, driven by expansion into new sectors, successful integration of acquisitions, and global footprint enhancement.

• Transitioned from EMS/PCB assembly to ESDM and OEM-led, design-focused manufacturing, with facilities in India, the US, and Europe.

• Secured major certifications (AS9100, 13485, 16949, Trusted Telecom Partner, ISO 14001/9001, CDSCO), enabling entry into aerospace, defense, medtech, telecom, and railways.

• Diversified order book across telecom, AI, IoT, EV, aerospace/defense, railways, and industrial sectors.

• Audited standalone financials for FY26 were approved with an unmodified opinion.

Financial highlights

• FY26 consolidated revenue: INR 3,012 million, up 89.2% YoY; H2 FY26: INR 1,786 million; EBITDA: INR 657.7 million; PAT: INR 460 million.

• EBITDA margin for FY26: 22.6%; PAT margin: 15.3%; EPS: INR 22.47, up 71% YoY.

• Gross margin declined from 31% in H1 to 28% in H2 FY26 due to higher COGS and supply chain factors.

• Order book as of March 31, 2026: INR 5,212 million (~1.7x FY26 revenue), with 20-25% exports and significant US market presence.

• Negative cash flow of INR 40 crore, mainly due to aggressive growth and acquisition-related outflows.

Outlook and guidance

• Targeting 40-50% CAGR revenue growth over the next few years, aiming for INR 1,000 crore revenue.

• Consolidated EBITDA margin expected to remain in the 20-22% range, with PAT margin around 15%.

• Strategic focus on backward integration, global expansion (Europe, Australia), and entry into high-growth sectors like medical devices, EV, UAV, and telecom.

• No major CapEx required for next two years; existing capacity sufficient for growth targets.

• New SMT line and Greenfield expansion in Bangalore and Vadodara expected to be operational by Q4 FY27.