Pursuant to Regulations 30 and 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Please find enclosed herewith the transcript of the Earnings Conference ....
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Macfos Ltd (Robu) reported H1 FY26 revenue of approximately INR 129 crores, EBITDA of around INR 15.5 crores, and PAT of about INR 10.2 crores. Excluding one-time bulk orders of roughly INR 71 crores in H1 FY25, revenue grew 71% year-on-year, while PAT dipped about 1% sequentially due to Independence Day promotional offers and the July salary revision. Average order value rose 27% YoY and the company added over 20,000 new SKUs, taking the total to around 100,000. Management reiterated its 50% CAGR growth target and 8% PAT margin target for the next two to three years, while acknowledging that rising competition in bulk orders will gradually pressure margins. The proprietary Robu 2.0 vertical, focused on drones, supplied products to a few defence establishments and is running trials with 2-wheeler firms, but still contributes less than 5% of total revenue. Management declined to share revenue splits between Robu 1.0 and 2.0, top-performing categories, or customer profile breakdowns.
Sustained 71% YoY growth and reaffirmed multi-year targets support the long-term thesis, but management's explicit warning on margin pressure from increasing competition and reluctance to share segment-level details may temper near-term investor enthusiasm. The Robu 2.0 drone programme, especially any commercial-scale defence or 2-wheeler orders, is the key swing factor to watch.