Virtuosooptoelectronics earnings calls.

Virtuoso Optoelectronics delivered a strong Q3 FY26 with revenue of ₹205 croreCurrent reported value: ₹205 crore. No comparable prior figure is available in the source record., up 36Current reported value: 36. No comparable prior figure is available in the source record.% YoY on standalone basis, marking a significant recovery from a subdued Q2. EBITDA margins of 11%+Current reported value: 11%+. No comparable prior figure is available in the source record. and PAT margins of 3.4% reflect improved product mix with non-AC segments (refrigeration, EMS, compressors) now contributing meaningfully to profitability. The 9-month revenue stands at ₹505 croreCurrent reported value: ₹505 crore. No comparable prior figure is available in the source record., putting the company on track for its FY26 guidance of ₹800-900 crore. Key growth drivers include: (1) AC capacity running at full utilization with 4 new customer additions beyond Voltas; (2) compressor business ramping to 2.8 million units capacity with 50%+ utilization and ₹400 crore revenue potential; (3) Chennai plant becoming operational in Q1 FY27; and (4) EMS capacity doubling by Q1 FY27. The management reiterated its 9-10% EBITDA margin guidance and expects AC's share to dilute to 60-65% of total revenue by FY27, indicating successful diversification. The primary risk is uncertainty around the government's QCO decision for compressors (expected March 2026), which could impact backward integration plans and customer order booking velocity.