Update on Earning Call for the half year and year ended March 31, 2026-H2 FY 26-Transcript

Inflame Appliances reported FY26 revenue growth of ~41-42% with EBITDA up ~55% and EPS up ~85%. Chimney production rose 38% to 270,000 units, with capacity utilisation around 50% across its Panchkula and Hyderabad plants. Q4 was weaker than expected due to Gulf geopolitical tensions and softer demand from major OEMs, with raw material costs climbing from 70% to 75% of consumption. Management is targeting 50% revenue growth in FY27, reaching 400,000 chimney units, INR400+ crores by FY28 and INR500 crores by FY29. The company is expanding Panchkula capacity by 12,000-15,000 chimneys via an INR10 crore CapEx. New products like built-in ovens, refrigerators, wine coolers and dishwashers are being developed, with chimneys expected to drop to 60-65% of revenue mix. A 34% stake in Tricoree Machmatrix is being taken for in-house BLDC motors and electronics to reduce China dependency, and Hobs BIS is expected by September 2026.