Full-year margin improvement in FY26
Management aims for EBITDA margin expansion on a full-year basis, driven by operating leverage and cost efficiencies, despite Q1 margin contraction.
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Sustained double-digit service booking growth
Service bookings are expected to continue growing at double-digit rates in value, supported by AMC count growth and ASP increases.
Service revenue impact from Q4 FY26
The reflection of strong service bookings in reported revenue will become meaningful from Q4 FY26, as amortization catches up.
Continued growth investments in innovation and marketing
Advertising and promotion spends will remain elevated to drive category creation, innovation awareness, and service visibility.
Sustained double-digit revenue growth
Management expects continued double-digit growth in both products and service, driven by multiple growth engines.
Full-year margin expansion
Management aims for full-year EBITDA margin improvement, though possibly less than last year's ~120 bps due to growth investments.
Service AMC bookings growth to sustain
Service AMC bookings growth accelerated in Q2 and is expected to continue at double-digit rates.
Q4 FY26 revenue growth to exceed YTD 11.1%
Management expects Q4 growth to be ahead of the 11.1% YTD growth, driven by normalization of inventory and return to double-digit trajectory.
FY30 target: 2x revenue and 3x EBITDA
Long-term ambition to double revenue and triple EBITDA by FY30, reaffirmed with conviction despite Q3 aberration.
Capex guidance of ₹60-70 crore for FY26
Capital expenditure for the year is expected to be in the range of ₹60-70 crore, with YTD capex at ~₹60 crore.
Gross margins to remain rangebound
Management expects gross margins to stay within a band (historical ~59-61%), not sustain the 60.8% level, but remain resilient through multiple levers.