Salzer Electronics Limited has informed the Exchange about Transcript
SALZERELEC · price
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Salzer Electronics reported Q4 FY26 revenue of INR 474 crore (up 26% YoY) with EBITDA margin of 7% and PAT of INR 10 crore. Full year FY26 revenue was INR 1,758 crore (up 24%), with EBITDA margin of 8% and PAT of INR 54 crore. Management guided for 9-9.5% EBITDA margin and revenue of INR 2,000-2,100 crore for FY27. The company faced margin pressure due to rising commodity prices (plastics, copper, silver) impacting margins by 2-3%, with price increases implemented in February 2026 and another planned for June 2026. Key segments include industrial switchgear (56% of revenue, 11% EBITDA margin), wires and cables (39%, 5% margin), and building products (5%). The smart meter business has executed INR 45 crore so far with an INR 200 crore Bangalore project starting Q2 FY27. EV charging subsidiary expects INR 25 crore revenue in FY27. The Saudi manufacturing facility is delayed to September/October 2026 due to geopolitical tensions.
While revenue growth is strong at 24%, low PAT margin of 3.1% and high debt (~INR 500 crore) continue to concern investors. Management's margin recovery guidance to 9-9.5% and plans to reduce working capital to 25% of revenue provide some relief, but execution on price hikes and smart meter orders will be key.