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
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
79%Questions answered0Evaded / deflected12Questions auditedContradictedNumbers vs filing
Partial answer
High priority
Why margins below guided 14-15% at 12% standalone?
Asked by Ankit Pal, Sukam Ventress
Acknowledged mix issue but gave no quantitative split or timeline for recovery.
no specific margin breakdowndeferred improvement to next year
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Question
the margins for the full year have been below our guided range of uh 14 15% as standalone basis. So it came at around 12%.
Nikhil (likely CEO)
we were slightly below that for the full year basically because of the product mix in the EMS business. Some of this will be executed in the current financial year.
Answered
High priority
What topline growth and margins for FY27 standalone?
Asked by Ankit Pal, Sukam Ventress
Reiterated medium-term targets without giving specific FY27 guidance.
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Question
So sir in FI27 what kind of uh topline growth and margins we can uh look at at standalone basis.
Nikhil (likely CEO)
we continue to work towards a 25 to 30% growth rate... and similarly 13 to 15% EBITDA margin is what we are working towards.
Answered
Medium priority
Any realization from selling European businesses?
Asked by Ankit Pal, Sukam Ventress
Clear and unambiguous denial of any expected proceeds.
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Question
last time you mentioned that you don't expect anything to realize by selling those businesses. But is there any change?
Nikhil (likely CEO)
No. That also remains unchanged. We don't expect to have any realization.
Partial answer
Medium priority
Can growth accelerate beyond 25-30% with focus on standalone?
Asked by Ankit Pal, Sukam Ventress
Acknowledged possibility but gave no specific numbers or timeline.
no quantified accelerationdeferred to long term
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Question
since you are fully focused on the standalone part... can't we see acceleration in that business going forward?
Sundar Rajan (likely CFO)
the direct impact and the immediate impact on next year's revenue you would not see... but it can accelerate two three years down the line.
Answered
High priority
Order inflows standalone FY26 and capex for FY27?
Asked by Ankit Pal, Sukam Ventress
Provided specific numbers for order inflow and capex range.
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Question
what was your order inflows at standalone basis in FI26 and what kind of order inflows you're looking at in FI27 and the capex?
Sundar Rajan (likely CFO)
we booked over 400 crores in the current year... capex will be in the order of about 40 crores... 40 to 45 you can expect.
Answered
High priority
Any further exceptional losses from European subsidiary sale?
Asked by Chirag Jetia, Alliance Global Investors
Clear statement that no further exceptional losses are expected.
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Question
are there any broader range for any further exceptional losses we should be expecting in the coming quarter or two related to this?
Sundar Rajan (likely CFO)
we don't expect any exceptional items or one-time losses coming in hitting in the next fiscal year.
Answered
High priority
Margin profile of defense/aerospace vs other sectors?
Asked by Chirag Jetia, Alliance Global Investors
Provided clear margin ranges for each segment.
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Question
how do defense and aerospace orders compared to the other sectors such as transport, industrial health?
Nikhil (likely CEO)
BTS segment we carry margin profile of around 20%... EMS segment across industries is fairly pegged at between 9 and 10%.
Answered
Medium priority
Are defense orders booked under BTS or EMS?
Asked by Chirag Jetia, Alliance Global Investors
Clearly explained the split between segments.
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Question
for all the different segment orders and revenue recognition are all of them booked under the BTS segment itself or if that is split into the EMS segment?
Nikhil (likely CEO)
defense and aerospace segment contribution comes from both BTS and EMS but BTS is almost entirely defense and space.
Partial answer
Medium priority
Supply constraints on copper clad laminate for EMS?
Asked by V Khatri, Toro Wealthy Managers
Acknowledged issue but gave no numbers on severity or financial impact.
no quantification of impactno specific mitigation details
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Question
globally the specialized CCL capacities are becoming tight... do you believe that this can lead to a bottleneck for the manufacturing in the EMS segment?
Nikhil (likely CEO)
supply chain bottlenecks are clearly an emerging theme... we have seen an increase of lead time in some of these component categories.
Partial answer
Medium priority
On track for $30M semiconductor revenue in 2-3 years?
Asked by Rajal, Asset Management (unspecified)
Did not confirm the $30M figure or provide specific progress.
no confirmation of $30M targetno new client names
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Question
are we online to doing $30 million annual revenue in the next 2-3 years and are you in talks with any other semiconductor client?
Nikhil (likely CEO)
we are progressing quite well... broadly in line with our expectations... today it's largely driven by a key anchor customer.
Answered
High priority
Size and timeline of Viru Paksha and space debris radar orders?
Asked by Rajal, Asset Management (unspecified)
Provided specific contract values and context.
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Question
how big are these contracts sir and how long will this order cycle execution last?
Nikhil (likely CEO)
Viru Paksha is a relatively small development contract less than 10 crores. The space debris tracking radar is about a 30 odd crore order.
Partial answer
High priority
Why low order inflow growth for BTS standalone (4%) and outlook for FY27?
Asked by Vijay Sari, Sup Ventures
Explained spillover but did not quantify expected growth for FY27.
no specific FY27 order inflow guidanceblamed timing
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Question
the order inflow for the standalone BTS has been very low growth say rather 4%... any particular reason and how should we look at this for 27?
Sundar Rajan (likely CFO)
orders that we could close and book was only about 470 crores... there are a good number of orders that are in the pipeline... we do foresee a significant growth in terms of order booking during this current fiscal.
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| BTS segment margin around 20% | 20% | 14.31% | Overstated vs filing |
| BTS revenue about 250 crores in FY26 | ₹250 cr | ₹340.43 cr | Understated vs filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.