Centum Electronics (517544) Q4 25/26 earnings summary

Executive summary

• FY26 standalone revenue reached ₹9,731 Mn, up 25.4% YoY; PBT before exceptional items rose 62.7% to ₹1,004 Mn, and the order book increased 22.7% to ₹1,645 crore.

• Continuing operations strengthened, while discontinued overseas operations recorded a ₹1,525.17 Mn post-tax loss and drove a consolidated net loss of ₹518.06 Mn.

• Canadian operations ceased in Q4 FY26; the French subsidiary entered court-supervised restructuring, with buyer selection and relinquishment of control pending court proceedings.

• The audit opinion was unmodified; auditors highlighted the Redressement Judiciaire proceedings and continued consolidation pending relinquishment of control.

Financial highlights

• Standalone FY26 revenue was ₹9,731 Mn, up 25.4%; EBITDA rose 28.4% to ₹1,209 Mn at a 12.42% margin, while reported PAT was a ₹1,171 Mn loss after exceptional items.

• Q4 standalone revenue was ₹3,442 Mn, up 25.6% YoY and 44.4% QoQ; EBITDA was ₹455 Mn, with a 13.22% margin, and PAT was ₹327 Mn.

• Consolidated FY26 continuing-operations revenue was ₹9,503.18 Mn and PAT was ₹1,007.11 Mn; EBITDA was ₹1,354 Mn at a 14.22% margin.

• Q4 consolidated continuing-operations revenue was ₹3,388.57 Mn and PAT was ₹349.97 Mn; consolidated net profit was ₹16.40 Mn after discontinued-operations losses.

• Discontinued operations recorded FY26 revenue of ₹3,740.26 Mn and a post-tax loss of ₹1,525.17 Mn; full-year consolidated net loss was ₹518.06 Mn.

Outlook and guidance

• Medium-term growth objective remains 25%-30%; no specific annual or quarterly growth guidance was provided, with management citing pipeline and visibility.

• EBITDA margin target remains 13%-15% over the next 1-3 years; EMS mix contributed to FY26 margins being below the target range.

• FY27 BTS bookings are expected to grow significantly, with ~₹150 crore of orders carried over for booking in Q1 or Q2; no specific target was given.

• Bids in the overseas restructuring proceedings were expected to be concluded by the court in June 2026; a ₹5 per-share dividend was recommended, subject to shareholder approval.