Promises
3 promises
Promise Tracker
0 delivered, 0 close, 3 missed.
View Promises →Centum Electronics Limited — Q4 FY26
Centum Electronics reported a strong Q4 FY26 with standalone revenue of ₹344 crore (+26% YoY) and EBITDA of ₹46 crore (+5% YoY, margin 13.22%).
bullish
high
✓ Verified against BSE filing
2-Minute Summary
✦ AI-Generated from Full Transcript
Centum Electronics reported a strong Q4 FY26 with standalone revenue of ₹344 crore (+26% YoY) and EBITDA of ₹46 crore (+5% YoY, margin 13.22%). Full-year standalone revenue hit a record ₹973 crore (+25% YoY) with EBITDA of ₹121 crore (+28% YoY, margin 12.42%). Growth was driven by robust execution in BTS (+37% YoY) and EMS (+21% YoY), supported by a record order book of ₹1,645 crore (+23% YoY). Key wins include a ₹570 crore AESA radar program from HAL and a second radar system order. Management guided for 25-30% medium-term revenue growth and 13-15% EBITDA margins, with overseas restructuring on track for deconsolidation by Q2 FY27. Risk: supply chain constraints on copper clad laminates and memory components could pressure EMS margins.
सेंटम इलेक्ट्रॉनिक्स ने वित्त वर्ष 2026 की चौथी तिमाही में शानदार प्रदर्शन किया। कंपनी की कमाई 344 करोड़ रुपये रही, जो पिछले साल से 26% ज्यादा है। कमाई में से मुनाफा (EBITDA) 46 करोड़ रुपये रहा, जो 5% बढ़ा और मार्जिन 13.22% रहा। पूरे साल की कमाई 973 करोड़ रुपये के रिकॉर्ड स्तर पर पहुंच गई, जो 25% ज्यादा है। मुनाफा 121 करोड़ रुपये रहा, जो 28% बढ़ा। कंपनी को HAL से 570 करोड़ रुपये का रडार प्रोजेक्ट मिला है। आने वाले समय में कमाई 25-30% और मुनाफा 13-15% बढ़ने की उम्मीद है। हालांकि, कच्चे माल की कमी से मार्जिन पर दबाव पड़ सकता है।
Promises0 met · 3 missedRisks4 trackedTranscriptfull text
Research workspace
Focused Modules
Risks
4 risks
Risk Intelligence
Supply chain constraints on key components
View Risks →
Transcript
Full text
Call Transcript
Full transcript text is available on this route.
Read Transcript →Quarter Snapshot
Standalone Order Book
₹1,645 crore
+23% YoY
Order book provides strong revenue visibility for coming years.
BTS Revenue Growth
37% YoY
+37% YoY
Build-to-spec business driven by defense, space, and radar programs.
HAL AESA Radar Program
₹570 crore
New win
Marquee program for UHM platform; development phase of ~₹65 crore underway.
Adjusted ROCE
21.16%
+876bps YoY
Improved from 12.40% reflecting stronger profitability and capital efficiency.
What Changed vs Last Quarter
NEW
Medium-term revenue growth of 25-30% CAGR
Management targets 25-30% revenue growth on a medium-term basis at standalone level, driven by defense, aerospace, and semiconductor tailwinds.
NEW
EBITDA margin target of 13-15%
Management expects EBITDA margins to improve to 13-15% over the next 1-2 years, aided by better product mix and operating leverage.
NEW
Capex of ₹40-45 crore in FY27
Capital expenditure for FY27 is expected to be in the range of ₹40-45 crore, with ~50% allocated to BTS R&D capabilities.
NEW
Overseas subsidiaries deconsolidation by Q2 FY27
Management expects the French subsidiary to be deconsolidated by Q1 or Q2 FY27, with no further exceptional losses expected.
DROPPED
Radar system order expected in Q4 FY26
Management expects to receive the order for the ₹700 crore radar system in Q4 FY26.
DROPPED
Semiconductor equipment customer to reach $30 million annual run-rate in 2 years
Revenue from the new semiconductor equipment customer is expected to grow from $10 million in FY26 to $30 million annual run-rate within two years.
DROPPED
Q4 FY26 standalone margins to improve
Management expects to maintain or improve standalone EBITDA margins in Q4 FY26, driven by operating leverage and higher revenue.
DROPPED
French subsidiary restructuring timeline
Clarity on French subsidiary divestment or judicial reorganization expected by Q4 FY26 reporting.
NEW RISK
Supply chain constraints on key components
Copper clad laminate and memory component lead times are increasing due to global demand, potentially impacting EMS execution.
NEW RISK
Margin pressure from EMS product mix
FY26 EBITDA margin of 12.42% was below the guided 13-15% range due to unfavorable EMS product mix; improvement depends on mix shift.
NEW RISK
Order inflow lumpiness in BTS
BTS order inflow in FY26 was only ~₹470 crore (low growth), with some orders slipping to FY27; execution visibility depends on timely closures.
NEW RISK
No cash recovery from European subsidiary sale
Management confirmed no expected realization from the French asset sale; liabilities exceed assets by over ₹100 crore.
RISK GONE
Further operating losses from French subsidiary
Until deconsolidation, operating losses from French subsidiary will continue to impact consolidated financials.
RISK GONE
Lumpy execution in BTS segment
BTS revenues are tied to major program deliveries, leading to quarter-on-quarter volatility.
RISK GONE
Low recovery from Canadian subsidiary
Management expects minimal cash recovery from Canadian subsidiary after winding up.
RISK GONE
Geopolitical risks impacting European operations
Prolonged weak macro environment in Europe and subdued demand in R&D services market affected turnaround efforts.
Fast read
Guidance and risk preview
Management targets 25-30% revenue growth on a medium-term basis at standalone level, driven by defense, aerospace, and semiconductor tailwinds.
Copper clad laminate and memory component lead times are increasing due to global demand, potentially impacting EMS execution.
View Risks →