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ASM Technologies reported a sharp jump in Q2FY26 performance, with revenue from operations rising 171% YoY to ₹154.5 Cr, driven by growth in both ER&D and Design-Led Manufacturing segments. EBITDA surged 356% YoY to ₹30.5 Cr, with margins expanding to 19.7% (from 11.7%), while PAT grew 685% YoY to ₹19.1 Cr. For H1FY26, revenue stood at ₹277.4 Cr (up 153%), EBITDA at ₹56.2 Cr (up 452%), and PAT at ₹34.7 Cr (up 627%), with H1 EBITDA margin at 20.3%. The company signed MoUs with the Government of Tamil Nadu (₹250 Cr) and Karnataka (₹510 Cr) for cumulative planned investments of ~₹760 Cr to expand Design-Led Manufacturing capacity, focusing on electronics, solar, and semiconductors. ROCE for H1FY26 stood at 35.1% and ROE at 23.5%, reflecting strong capital efficiency.
Strong revenue growth, expanding margins, and large announced capex plans signal robust business momentum and a positive medium-term outlook, which could support investor confidence in the stock. However, investors should watch for execution of the ₹760 Cr capacity expansion and continued margin sustainability.