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View Claim Ledger →Centum Electronics Ltd — Q3 FY26
Centum Electronics delivered a strong standalone Q3 FY26 with revenue of ₹238 crore (+27% YoY) and EBITDA of ₹26 crore (+27% YoY), driven by robust execution in defense and space programs.
bullish
high
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Centum Electronics delivered a strong standalone Q3 FY26 with revenue of ₹238 crore (+27% YoY) and EBITDA of ₹26 crore (+27% YoY), driven by robust execution in defense and space programs. The company decisively restructured overseas subsidiaries: discontinued Canadian operations and initiated divestment/judicial reorganization for French subsidiaries, booking one-time impairments of ₹153.8 crore (standalone) and ₹57 crore (consolidated). Key wins include a L1 bid for a ₹700 crore radar system for a helicopter platform and a strategic partnership with GRSC for air navigation systems (₹500 crore opportunity). The order book strengthened, with Q4 expected to see further inflows. Risks include potential further operating losses from French subsidiaries until deconsolidation and lumpy execution in the BTS segment.
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Further operating losses from French subsidiary
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Radar system order value
₹700 crore
New
L1 bid for complete radar system for a helicopter platform; execution over 5-7 years.
Air navigation system opportunity
₹500 crore
New
Partnership with GRSC; first order of ₹30 crore received; 3-5 year horizon.
Semiconductor equipment customer revenue run-rate
$10 million
New
FY26 expected revenue from new customer; target $30 million annual run-rate in 2 years.
Standalone EBITDA margin 9M FY26
12.1%
+200 bps YoY
Improved scale, better program mix, and operating leverage in India ESDM business.
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Guidance and risk preview
Management expects to receive the order for the ₹700 crore radar system in Q4 FY26.
Until deconsolidation, operating losses from French subsidiary will continue to impact consolidated financials.
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