Centum Electronics (517544) Q3 25/26 earnings summary

Executive summary

• Standalone growth was led by defense, space and build-to-spec execution; strategy is shifting toward integrated defense systems and profitable ESDM expansion.

• Overseas restructuring and impairments weighed on consolidated results; Canada operations were discontinued and options for French subsidiaries remain under evaluation.

Financial highlights

• Standalone Q3 FY26 revenue was ₹2,383 Mn, up 27.3% YoY, and EBITDA was ₹257 Mn, up 27.2%; PBT before exceptional items was ₹191 Mn.

• Standalone 9M revenue was ₹6,289 Mn, up 25.3%, and EBITDA rose 50.0% to ₹759 Mn; PBT before exceptional items was ₹579 Mn.

• Consolidated continuing-operations Q3 revenue was ₹3,314 Mn, up 21.4%, with EBITDA of ₹314 Mn and a 9.47% margin; PBT before exceptional items was ₹181 Mn, up 53.4%.

• Consolidated continuing-operations 9M revenue was ₹8,728 Mn, up 15.0%, with EBITDA of ₹776 Mn and an 8.89% margin; PBT before exceptional items was ₹445 Mn.

• Reported 9M net losses were ₹1,493 Mn standalone and ₹530 Mn consolidated; Q3 consolidated net loss was ₹617.50 Mn, including continuing and discontinued operations.

Outlook and guidance

• Management expects strong Q4 order intake and a stronger year-ending quarter, supported mainly by standalone performance; Q4 margins are expected to hold or improve.

• Semiconductor-equipment EMS is expected to generate at least $10m in FY26 and reach a ~ $30m annual revenue run rate in two years.

• Radar-system orders are expected in Q4; space-based surveillance orders may begin in Q4 or Q1 FY27.

• Defense and space are targeted for multifold growth without numeric guidance; internal R&D and partnerships support progression toward tier-1 positions.