Centum Electronics (517544) Q1 25/26 earnings summary

Executive summary

• Consolidated Q1 FY26 revenue was ₹2,734m, up 11.4% YoY; EBITDA rose 46.8% to ₹229m, with an 8.38% margin.

• Standalone revenue grew 35% to ₹1,796m; PAT was ₹165m and EBITDA margin was 14.92%.

• Order book reached ₹17,691m at June 30, 2025, supported by EMS serial-production programs and new DRDO development orders.

Financial highlights

• Consolidated PAT was ₹44.76m versus a loss of ₹38.43m in Q1 FY25; PAT margin improved to 1.65%.

• Standalone EBITDA was ₹268m, up over 100% YoY; standalone PAT was ₹165m, up over 250%.

• Sale of products and services revenue was ₹2,635.05m; total income was ₹2,763.39m.

• Consolidated results included a ₹17.65m exceptional reversal related to Ausar.

Outlook and guidance

• Medium-term consolidated revenue growth objective is 18%-20%; standalone growth is expected to be higher, with EMS and Build-to-Spec each targeted to grow at 25%+.

• Consolidated EBITDA margin objective is 13%-15%; subsidiary margins are targeted to improve from ~1% to 10%-11% in two years.

• Subsidiary performance is expected to improve in H2 FY26, subject to conversion of Defence and Aerospace opportunities; ER&D performance also depends on opportunity conversion.

• Healthy order booking is expected, while large government programs remain subject to approval processes and are not expected in the very short term.