Macfos Ltd — Q4 FY26

Macfos reported a stellar FY26 with revenue of ₹312 Cr (up 64.7% YoY), EBITDA of ₹39 Cr (up 113% YoY), and PAT of ₹25.65 Cr (up 115% YoY), excluding a one-time bulk of ₹71 Cr in FY25. Growth was driven by strong demand across electronics distribution (Robu 1.0) and increasing traction in proprietary products (Robu 2.0), particularly drones and smart electronics modules. Average order value rose to ~₹7,300 in Q4 from ~₹6,000 in Q3, reflecting a shift toward higher-value B2B and government orders. Management remains confident in sustaining growth, citing robust demand, expanding product portfolio, and improving brand visibility. They target 10% higher gross margins on own-brand products versus distribution. Key risk: potential margin compression from rising competition and memory chip shortages, which management acknowledged but believes they can manage through opportunistic pricing and inventory optimization.