IKIO TECHNOLOGIES LIMITED

Designs and manufactures lighting and electronics products on an ODM (original design manufacturer) basis for B2B brand customers across five verticals: home and commercial lighting, hearables/wearables, energy solutions, electronic components, and automotive lighting. The product mix has shifted decisively away from lighting — non-lighting categories (hearables, wearables, energy, electronics) made up 71% of FY26 revenue versus 57% a year earlier, and reached 77% of Q4 FY26 revenue. Hearables/Wearables alone grew 53% YoY to ₹426 crore in FY26 and ₹127 crore in Q4 FY26, while the legacy lighting ODM business shrank as a share of the total. Revenue from outside India grew 53% to ₹110 crore in FY26, or about 18% of the total, spanning roughly 20 countries. Manufacturing runs across three locations in India; Block I of a greenfield expansion was commissioned in May 2024 and Block II (~2 lakh sq ft) is due in Q1 FY27, backed by ~₹300 crore of capex that management says could support up to ~₹1,500 crore of revenue at full utilisation. ODM accounts for about 80–85% of work across all verticals, with the company acting as a Make-in-India alternative to Chinese suppliers; a freshly acquired 88% stake in Gravus Tech targets high-end project lighting and initial automotive sales began in February 2026.