TVS Electronics earnings calls.

TVS Electronics reported a mixed Q4 FY26 with 117 crore revenueCurrent reported value: 117 crore revenue. No comparable prior figure is available in the source record. (2Current reported value: 2. No comparable prior figure is available in the source record.% YoY) reflecting deliberate sacrifice of low-margin business, while EBITDA of 7 croreCurrent reported value: EBITDA of 7 crore. No comparable prior figure is available in the source record. surged 233% YoY with margin expanding 413 bps to 5.96Current reported value: 5.96. No comparable prior figure is available in the source record.%. PAT of 3 croreCurrent 3 crore. Reported change: +200% YoY. showed dramatic turnaround from losses. Full-year FY26 revenue of 455 croreCurrent reported value: 455 crore. No comparable prior figure is available in the source record. (6Current reported value: 6. No comparable prior figure is available in the source record.% growth) underperformed FY25's 17.6% growth as management consciously exited unprofitable customer orders amid memory price inflation. Customer Support Services outperformed with 13% growth driven by solar capacity expansion from 1GW to 3GW. SMT utilization at 30-40%Current 30-40%. Reported change: Early stage ramp-up. with external customer revenue already flowing; management targets double-digit growth for FY27 while maintaining structural margin improvement focus. Working capital pressures from supply chain disruptions led to higher inventory and receivables, increasing debt-to-equity to 0.43x. Key risks include EMS scale-up execution, memory price volatility, and management's refusal to provide specific margin guidance despite strong margin improvement trajectory.