Elin Electronics Reports 29% Jump in Q2 Profit to Rs 103 Million

Elin Electronics has announced its financial results for the quarter ended September 30, showcasing significant growth across key financial metrics.

Financial Performance

Revenue Growth

The company reported consolidated revenue from operations of Rs 2,969.28 million for Q2, marking an increase of 11.2% compared to Rs 2,670.40 million in the same quarter last year.

Profit Increase

Elin Electronics witnessed a notable improvement in its bottom line:

Net profit increased by 29% to Rs 102.99 million, up from Rs 79.69 million in the corresponding quarter of the previous year.
For the half-year period, net profit rose to Rs 196.91 million from Rs 107.00 million in the corresponding period of the previous year, representing an 84% growth.

Operational Highlights

The company has fully utilized its IPO proceeds of Rs 1,651.52 million as of September 30.
The Board approved an Employee Stock Option Plan, granting 250,000 shares to employees.

Financial Position

The results include consolidated figures of Elin Electronics Limited and its wholly owned subsidiary Elin Appliances Private Limited.

Elin Electronics' Q2 performance reflects its position in the electronics manufacturing services sector. The company's increase in revenue and profitability demonstrates its business strategies.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.02%	-7.46%	-4.07%	+15.85%	-8.34%	-16.44%

Elin Electronics , a leading electronics manufacturing services (EMS) company, reported a modest 1% year-over-year revenue growth to Rs 295.00 crores in the first quarter of fiscal year 2026. Despite challenges in certain segments, the company saw improvements in profitability and reaffirmed its guidance for the full fiscal year.

Financial Highlights

Metric	Q1 FY2026	Q1 FY2025
Consolidated revenue	Rs 295.00 crores	Rs 293.00 crores
Consolidated EBITDA	Rs 17.60 crores	Rs 13.30 crores
Adjusted EBITDA margin	6.30%	4.50%
Consolidated PAT	Rs 9.40 crores	Rs 5.90 crores

Segment Performance

The company's performance varied across different business segments:

Lighting, Fans, and Switches: Revenue declined to Rs 80.10 crores from Rs 89.40 crores, primarily due to reduced business from key customer Signify.
Home Appliances: Revenue increased to Rs 68.60 crores from Rs 63.60 crores, driven by growth in mixer grinders and toasters.
FHP Motors: Revenue remained flat at Rs 47-48 crores, impacted by unseasonal rains affecting cooling product businesses.

Strategic Developments

Elin Electronics is actively pursuing growth opportunities and diversification:

Added three new customers in the Lighting space, including a top 5 player in the Indian market
Expanding into medium appliances such as chimneys, air coolers, and air fryers
Constructing a new plant in Bhiwandi, expected to be operational by March/April 2026

Future Outlook

The company maintains a positive outlook for FY2026:

Revenue guidance of Rs 1,350.00 crores, representing 15% growth over FY2025
EBITDA margin target of 6-6.5%
CAPEX plan of Rs 100-120 crores, including Rs 60-65 crores for the new Bhiwandi plant

Sanjeev Sethia, Director at Elin Electronics, commented on the company's strategy: "Our aspiration is to be a one-stop-shop for all high-volume home Appliances and durable needs of OEMs and our customers. This includes our existing business Lighting, Fans, small Appliances, and our planned new businesses, medium Appliances such as air fryers, air coolers, chimneys, OTGs, etc."

The company expects its Lighting business to recover strongly by the end of FY2026, with the addition of new customers offsetting the reduced business from Signify. Elin Electronics also anticipates growth in its Fan business, particularly in the BLDC Fan segment.

With a strong liquidity position of Rs 103.00 crores net cash as of June 2025, Elin Electronics is well-positioned to execute its growth plans and capitalize on emerging opportunities in the Indian electronics manufacturing sector.