IKIO Technologies Limited , a leading player in the lighting and electronics industry, has reported a strong performance in the first quarter of fiscal year 2026, marking significant progress in its diversification strategy.

Revenue Growth and Business Mix

The company achieved a 7% quarter-on-quarter growth, with revenue reaching INR 120.00 crores in Q1 FY26. This growth was primarily driven by strong performances in the Product Display, Energy Solutions, and other segments, which collectively offset softness observed in the ODM home lighting business.

IKIO has made substantial strides in diversifying its business mix:

• Reduced dependence on single customer ODM home lighting business from 52% in Q1 FY25 to 32% in Q1 FY26
• Revenue from other business segments grew by 35% year-over-year to INR 81.00 crores, now contributing 68% of the total revenue

International Expansion

The company's international revenue reached INR 30.00 crores, contributing 25% of total revenue with an impressive 84% quarter-on-quarter growth. IKIO has successfully entered the Gulf market through exports under its Product Display segment, showing encouraging traction and strong growth momentum within the first year of operations.

Financial Performance

• EBITDA: INR 11.00 crores (83% quarter-on-quarter growth)
• Profit After Tax: INR 2.00 crores (compared to a loss of INR 1.00 crore in the previous quarter)
• Cash PAT: INR 9.00 crores (74% quarter-on-quarter growth)

Strategic Initiatives and Future Outlook

IKIO Technologies is implementing several strategic initiatives:

1. Expanding customer base in the lighting segment by onboarding leading Indian and international brands as an ODM supplier
2. Foraying into high-end lighting categories, including indoor, industrial, office, and outdoor applications
3. Deploying IPO proceeds (approximately 75% utilized)
   • Block 1 now operational
   • Block 2 civil construction nearing completion
4. Progressing in new markets:
   • Gulf region exports
   • Hearable and wearable products
   • Upcoming automotive segment initiatives

Mr. Hardeep Singh, Chairman and Managing Director of IKIO Technologies, commented on the results, saying, "Our strategic transition from a single customer ODM home lighting model to a broader diversified customer base across emerging verticals has started yielding results. We are expanding our customer base and foraying into high-end lighting categories, positioning the company for long-term sustainable growth."

As IKIO Technologies continues to diversify its product portfolio and expand its global presence, the company remains optimistic about its long-term growth prospects and the value creation for its stakeholders.

IKIO Technologies Limited , a leading manufacturer of high-end lighting solutions, has reported a 7% quarter-on-quarter (QoQ) revenue growth in Q1, despite a 5% year-on-year (YoY) decline. The company's strategic shift towards diversification and emerging verticals has begun to yield positive results, offsetting softness in its single-customer ODM Home Lighting business.

Financial Highlights

Strategic Diversification Drives Growth

IKIO Technologies has successfully reduced its dependence on the single-customer ODM Home Lighting model, with the 'Other Business' segment showing strong performance. This segment grew by 35% YoY and 10% QoQ, demonstrating the company's effective diversification strategy.

The revenue mix has shifted significantly, with the Other Business segment now accounting for 68% of total revenue in Q1, compared to 52% in the same quarter of the previous year. This transition reflects IKIO's focus on emerging verticals such as Product Display and Energy Solutions.

Expanding Global Footprint

IKIO Technologies has made significant strides in expanding its global presence:

• Revenue from outside India increased to Rs 298.00 million, representing 25% of total revenue in Q1
• Strong growth momentum observed in the Gulf market, with profitability achieved in the first year
• The Recreational Vehicle (RV) business in the USA is gaining traction

New Product Categories and Facility Expansion

The company has progressed well in new product categories, including Hearables and Wearables. Additionally, IKIO Technologies is expanding its manufacturing capabilities:

• Block I of the new Noida facility commenced commercial production
• Civil construction of Block II is nearing completion
• The company has installed a 200 KVA solar rooftop panel at the new facility for captive use

Management Commentary

Hardeep Singh, Chairman and Managing Director of IKIO Technologies, commented on the results: "Our strategic diversification efforts are bearing fruit, as evidenced by the strong performance of our Other Business segment. We are successfully transitioning from a single-customer ODM model to a more diversified customer base across emerging verticals. This approach not only drives our current growth but also positions us well for long-term, sustainable expansion."

Future Outlook

IKIO Technologies is well-positioned for future growth, with its focus on:

1. Expanding the customer base for Lighting by onboarding leading Indian and international brands as ODM suppliers
2. Foraying into high-end lighting segments, including indoor, industrial, office, and outdoor applications
3. Continuing to diversify into emerging verticals like Product Display and Energy Solutions

As IKIO Technologies continues to execute its diversification strategy and expand its global footprint, the company appears well-equipped to navigate market challenges and capitalize on new opportunities in the evolving lighting and electronics industry.

Note: All financial figures are in Indian Rupees (Rs) unless otherwise stated.