Elin Electronics (ELIN) Q4 24/25 earnings summary

Executive summary

• Achieved record quarterly and annual revenue and profit growth, with strong EBITDA and PAT increases driven by operational efficiency and robust performance in fans, home appliances, and motors, despite weakness in LED lighting.

• Audited standalone and consolidated financial results for the quarter and year ended March 31, 2025, were approved with unmodified opinions from statutory auditors.

• Maintains a leading position in EMS, serving marquee clients across lighting, fans, home appliances, and fractional horsepower motors, with a highly integrated manufacturing base.

• The company operates in a single segment: Electronics Manufacturing Services.

• No deviation or variation in the utilization of IPO proceeds was reported for the quarter ended March 31, 2025.

Financial highlights

• Q4 operating revenue rose 14% year-over-year to INR 315.7 crores (INR 3,157 million), and FY25 consolidated revenue reached INR 11,802 million, up from INR 10,417 million in FY24.

• Q4 EBITDA was INR 20.3 crores (INR 203 million, 6.4% margin), up ~63% YoY; FY25 EBITDA was INR 524 million (4.4% margin).

• Q4 PAT was INR 17.2 crores (INR 172 million), up ~387% YoY, including a one-time gain of INR 7.5 crores (INR 75 million) from subsidiary share sales.

• Net cash position at year-end was INR 75 crores (INR 748 million); working capital cycle stable at 52 days.

• Standalone and consolidated net profit for FY25 were ₹201.72 million and ₹293.22 million, respectively, both up significantly year-over-year.

Outlook and guidance

• FY26 revenue guidance: INR 1,350–1,400 crores (15–18% growth), with EBITDA margin guidance of 6–6.5%.

• CapEx planned at INR 100–125 crores (INR 1,000–1,250 million), with INR 60 crores for the new Bhiwadi plant.

• Targeting 7–7.5% EBITDA margin by FY27 and working capital cycle improvement to 40–45 days.

• Ongoing investments in technology and capacity upgrades in Ghaziabad and Verna, funded by IPO proceeds.