BSE: 544741
Highness Microelectronics Limi
Designs and manufactures TFT-LCD modules and ruggedized displays for defence, railways, medical, and industrial customers, with manufacturing at a Rabale plant and a new Goa facility being set up for backward-integrated chip-on-glass (COG) and film-on-glass (FOG) production aimed at cutting input costs by 8-15%. FY26 revenue was INR 16.11 crore, split across defence and aerospace (39%), medical (26.7%), railways (21.1%), and industrial (6.6%). About 44% of FY26 revenue (INR 7.06 crore) came from exports, and the company has signed a technology-transfer agreement with a Chinese manufacturer for glass cutting and resizing of TFT-LCD modules, plus a strategic alliance with Axiom Manufacturing (USA) for Americas market access. Materials account for 72.1% of revenue, employees 17.6%, and other opex 14.2%; FY26 EBITDA was INR 6.61 crore with PAT of INR 4.10 crore. Management has guided FY27 revenue of INR 30-32 crore, with the Goa plant's first commercial output expected around July-August 2027. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Defence and Aerospace (39%), Medical (27%), Railways (21%), Industrial (7%). Small-cap, design-led electronics manufacturer of TFT-LCD modules and ruggedized displays; BSE SME-listed in April 2026; currently capex-heavy with a new Goa COG/FOG plant under construction.
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 6 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 0.10 |
| ROE % · ROCE % | — · 1.0 |
| Debt / equity (x) | — |
| Cash from operations | (2) |
| Capex | (2) |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q4 FY26 |
|---|---|
| Revenue | 9 |
| Profit before tax | 4 |
| Net profit | — |
| EPS (₹) | 6.16 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,786 | 97.2 | 24.93 | 80.7 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 29,194 | 78.7 | 9.52 | 50.8 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 27,680 | 50.5 | 6.20 | — | 11.8 | 15.5 | — | 18.2 |
| KAYNES TECHNOLOGY IND LTD | 22,459 | 64.9 | 4.72 | 31.9 | 7.6 | 9.8 | — | 17.1 |
| JYOTI CNC AUTOMATION LTD | 21,078 | 65.5 | 10.53 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| LMW LIMITED | 17,356 | 99.3 | 6.05 | 56.2 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,374 | 469.7 | 3.93 | 40.0 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,314 | 48.4 | 7.32 | 50.2 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 49.8 | 26.5 | 92 of 130 | 30% |
| ROCE | (0.3) | 11.3 | 127 of 142 | 11% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 19 Oct 2026 · New glass cutting line commissioned at Rabale plant; commercial production begins | capex operations | medium | — | — |
| 19 Oct 2026 · Receives ₹21 Lakh order for medical-grade touch workstations | business updates | medium | — | — |
| 19 Oct 2026 · New glass cutting line starts commercial production at Rabale plant | business updates | high | — | — |
| 10 Oct 2026 · Purchase order for Ruggedized Displays for Metro Ticket Vending Machines | business updates | medium | — | — |
| 6 Oct 2026 · Routine SEBI compliance certificate filed for Q2 FY27 | compliance | minimal | — | — |
| 30 Sept 2026 · Company to exhibit at APTA 2026 TRANSform and EXPO in Chicago | business updates | low | — | — |
| 29 Sept 2026 · Highness Microelectronics gets ZED Gold Certification under MSME scheme | business updates | medium | — | — |
| 28 Sept 2026 · Highness Microelectronics wins about ₹6 crore order for medical monitors and displays | business updates | medium | — | — |
| 26 Sept 2026 · New purchase order worth about Rs 6 crore received | business updates | medium | — | — |
| 25 Sept 2026 · Trading window closed ahead of H1 FY26 results | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.