ITI (523610) Q1 26/27 earnings summary

Executive summary

• Unaudited consolidated and standalone financial results for the quarter ended June 30, 2026, were approved by the Board on August 13, 2026.

• The company continues to operate under a government-approved revival plan, with significant financial assistance received to date.

• The business is focused on telecom equipment manufacturing, trading, servicing, and defense projects, with India as the primary market.

Financial highlights

• Consolidated revenue from operations for Q1 FY27 was ₹42,503 lakhs, down from ₹49,801 lakhs in Q1 FY26 and ₹62,765 lakhs in Q4 FY26.

• Consolidated net loss for Q1 FY27 was ₹3,225 lakhs, compared to a net loss of ₹6,361 lakhs in Q1 FY26 and a net profit of ₹43,610 lakhs in Q4 FY26 (which included significant exceptional items).

• Standalone net loss for Q1 FY27 was ₹3,247 lakhs, versus a net loss of ₹6,332 lakhs in Q1 FY26 and a net profit of ₹43,591 lakhs in Q4 FY26.

• Basic and diluted EPS for Q1 FY27 was (₹0.33) consolidated and (₹0.34) standalone.

• Total expenses exceeded revenue, with high purchase of stock-in-trade and finance costs impacting profitability.

Outlook and guidance

• Management asserts the going concern basis is appropriate, citing a high-value order book of ₹13,88,281 lakhs and expected conversion of ₹2,34,615 lakhs unbilled revenue within 12 months.

• Ongoing support from the Government of India and sanctioned working capital facilities are expected to aid liquidity.

• The ASCON Phase IV defense project is underway, with Proof of Concept expected to complete by December 31, 2026.