Disclosure under Regulation 30 of SEBI (LODR) Reg 2015- Transcript for H2 and FY 2024-25 Post Earnings Conference call held on June 04, 2025.
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Virtuoso Optoelectronics closed FY25 with revenue of ₹702 Cr, up 32.5% YoY, with a 5-year revenue CAGR of 43% and PBT CAGR of 58%. The company guided FY26 revenue of ₹900-1,100 Cr (target ~₹1,000 Cr) and EBITDA margins of 8.5-9%, improving to >9% in FY27. Key growth drivers include new product diversification into compressors (tie-up with Jiaxipera and Huayi for technology), freezers (commercial production started, ₹100-150 Cr revenue targeted), and semi-automatic washing machines (live by Q3/Q4). AC capacity is being doubled to 1 million IDU and 1 million ODU by Aug/Sep 2025. CapEx of ~₹250 Cr planned for FY26-27 across compressors, freezers, AC, and components. Voltas contributes 65-70% of revenue. BSE listing of shares expected within a week. PAT in FY25 was suppressed due to a one-time deferred tax charge (effective tax ~78%); FY26 tax rate guided at 30-32%. PLI benefit of ₹15-20 Cr expected this year.
Shareholders get visibility on a diversified growth path beyond ACs, with margin expansion expected as new verticals (compressors, freezers, washing machines) contribute. Short-term AC seasonality (early monsoon, soft June) is a near-term overhang, but the doubling of capacity and entry into compressors position the company for the next leg of growth. Share listing on BSE should improve liquidity.