Earnings Call Transcript for Q4 FY 2025-26
TVSELECT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
TVS Electronics reported Q4 FY26 revenue of Rs. 117 crores (+2% YoY) with EBITDA margin expanding to 5.96% (+413 bps), while FY26 full-year revenue stood at Rs. 455 crores (+6% YoY) with EBITDA of Rs. 20 crores (+77% YoY) and PAT turning positive at ~Rs. 1 crore vs a loss of Rs. 4 crore in FY25. The company attributed margin improvement to better product mix, TCM cost control initiatives, and strategic exit from low-margin business. Management stated the improvement is structural and supported by operational efficiencies, though they declined to provide specific forward guidance. The SMT/EMS facility is at 30-40% utilization with external customer revenue already flowing in. Memory price increases temporarily impacted order conversion but are not expected to affect long-term growth. The company targets double-digit revenue growth for FY27 across all three business segments.
Margin expansion story appears credible with structural improvements cited; investors should monitor SMT utilization ramp-up and working capital management as debt-to-equity rose to 0.43x. Lack of formal guidance means investors cannot set specific milestones.