Elin Electronics Ghaziabad factory fire controlled, no casualties

Elin Electronics reported a fire incident at its Ghaziabad factory on May 25, 2026, resulting in the temporary shutdown of the affected area while the rest of the plant remains operational. The company confirmed that the fire, which occurred around 03:55 p.m. IST, was controlled within time and there were no casualties or injuries. Management is currently assessing the full extent of the damage caused to the facility situated at Buland Shahar Road Industrial Area.

The company stated that the assets at the affected plant are adequately insured. It has intimated the insurance company regarding the incident, and an insurance survey is expected to be conducted in due course. The disclosure was made to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/ HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Impact on Operations and Insurance

The immediate operational impact is confined to the affected section of the Ghaziabad unit. While the specific quantum of loss is still being evaluated, the company has confirmed that the remaining operations at the plant are functioning normally. The status of insurance coverage and the pending survey are detailed in the table below.

Particulars	Details
Expected quantum of loss	Currently assessing the full extent of the damage caused. No casualties or injuries reported.
Insurance coverage	Assets at the affected plant are adequately insured; insurance company intimated. Survey expected in due course.
Estimated impact on production	Affected operations temporarily shut; rest of plant operating.

The filing was signed by Lata Rani Pawa, Company Secretary & Compliance Officer, on May 26, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.14%	-6.62%	-8.15%	-37.50%	-32.08%	-51.15%

Elin Electronics Limited reported a consolidated net profit of ₹226 million for the financial year ended March 31, 2026, a decrease of 23% from ₹293 million in the previous year. Revenue from operations for the year rose 9% to ₹12,877 million compared to ₹11,802 million in FY25. The company's Board of Directors approved the audited standalone and consolidated financial results during a meeting held on May 25, 2026. The statutory auditors, M/s. S. R. Batliboi & Co. LLP, provided an unmodified opinion on the results. The company has published the extract of the audited financial results in the newspapers Pioneer and Financial Express on May 26, 2026, pursuant to Regulation 47(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

For the fourth quarter ended March 31, 2026, the company reported a consolidated net loss of ₹8 million, reversing from a net profit of ₹172 million in the same period last year. Quarterly revenue increased to ₹3,242 million from ₹3,157 million in the prior year's quarter. The quarterly performance was impacted by elevated costs, with EBITDA declining to ₹60 million from ₹202 million, resulting in an EBITDA margin contraction to 1.8% from 6.4%. The company noted that gross margins were impacted by approximately 390 basis points due to a surge in polymer prices and the depreciation of the INR against the USD.

Metric	FY26	FY25	Change (YoY)
Revenue	₹12,877 million	₹11,802 million	Increase
Net Profit	₹226 million	₹293 million	Decline

Metric	Q4 FY26	Q4 FY25	Change (YoY)
Revenue	₹3,242 million	₹3,157 million	Increase
EBITDA	₹60 million	₹202 million	Decline
EBITDA Margin	1.8%	6.4%	-456 bps
Net Profit / (Loss)	(₹8 million)	₹172 million	Swing to Loss

Segment and Operational Performance

Revenue growth was driven by the Lighting, Fans & Switches and Small Appliances segments. Fans revenue increased by 67% year-on-year, primarily due to better volumes in the BLDC ceiling fans category. The Personal Care segment within Small Appliances grew by 32% year-on-year. However, the Fractional Horsepower Motors segment saw a decline, with revenue falling to ₹457 million from ₹510 million in the prior year's quarter.

Board Decisions

The Board approved the cancellation of 200,000 stock options under the Elin Electronics Employee Stock Option Plan 2024. Consequently, the company's equity share capital increased by ₹250,000 following the exercise of 50,000 vested shares. The Board re-designated Shri Kishore Sethia from Director Operations to President of the Company, effective May 25, 2026. Additionally, the Board approved the re-appointment of Dr. Shanti Lal Sarnot and Shri Ashis Chandra Guha as Non-Executive Independent Directors for a period of five years, subject to shareholder approval. The re-appointment of M/s. Oswal Sunil & Company as Internal Auditors and M/s Bhavna Jaiswal & Associates as Cost Auditors for FY27 was also approved.

Outlook

For FY27, the company provided guidance for revenue growth of approximately 15% over FY26, largely led by the Home Appliances and Fans segments. The company stated that while revenue growth is targeted, EBITDA margins are difficult to guide due to the highly volatile geopolitical situation causing fluctuations in raw material costs. Capital expenditure for the year is expected to be between ₹700 million and ₹750 million, split as ₹450 million towards the Bhiwadi facility and the balance for scaling up existing business. The company targets working capital days of approximately 50 days.

The Bhiwadi facility is largely complete, with commercial production expected to start by the end of July or early August 2026. The total project cost is estimated at ₹1,000 million. Due to the slight delayed commissioning, the company expects revenue of ₹800 million from the Bhiwadi facility in FY27, against an earlier estimated ₹1,400 million. The differential revenue will be managed at the Ghaziabad facility. The steady state EBITDA margin for the plant is expected to be 7% in the third year of operations.