Elin Electronics Q3FY26 Results: Revenue Up 10% to ₹2,935 Million, PAT Jumps 162% to ₹38 Million
Elin Electronics reported Q3 FY26 revenue of ₹2,935 million, up 10% YoY. PAT surged 162% to ₹38 million. Nine-month revenue reached ₹9,635 million. Small Appliances revenue grew ~330% YoY. The company expects FY26 revenue growth of 9-10% with EBITDA margins of 5.3-5.8%. Bhiwadi facility completion is expected by May 2026.
The results show positive financial growth and a clear outlook for the next fiscal year. The expansion of the Bhiwadi facility is also a significant development. However, the impact is medium as there are no groundbreaking announcements or extremely high growth percentages.
The company reported strong year-on-year growth in revenue and a significant increase in profit after tax, indicating positive financial performance. The guidance for the upcoming fiscal year also appears optimistic.
Elin Electronics Limited has announced its unaudited financial results for the third quarter (Q3) and the nine-month period ended December 31, 2025.
For Q3 FY26, the company reported an operating revenue of ₹2,935 million, marking a ~10% year-on-year increase from ₹2,663 million in Q3 FY25. This growth was primarily driven by a strong performance in the appliances business, partially offset by a decline in the lighting segment. The non-EMS business, specifically precision components, experienced a marginal year-on-year decline due to planned maintenance.
EBITDA for the quarter rose by approximately 57% to ₹119 million, compared to ₹76 million in the same period last year. Profit After Tax (PAT) saw a significant surge of 162%, reaching ₹38 million from ₹14 million in Q3 FY25. The company attributed the EBITDA improvement to cost-saving initiatives in employee and other expenses. Gross margins were marginally impacted by rising raw material costs, though repricing with customers is proceeding as expected.
The nine-month period ended December 31, 2025, saw total revenue reach ₹9,635 million, an increase from ₹8,645 million in the comparable period of FY25. For the same nine-month period, EBITDA stood at ₹497 million and PAT was ₹234 million.
Key business segments showed varied performance. Small Appliances revenue grew by approximately 330% year-on-year, driven by strong volumes in Oil Filled (OFR) heaters. The company expects capacity utilization to improve further. Fractional Horsepower (FHP) Motors saw a decline in consumer durables volume, offset by growth in fan motors. Lighting, Fans & Switches revenue experienced a slight decrease year-on-year, though fans revenue doubled YoY due to strong demand for BLDC ceiling fans.
Capital expenditure details indicate additions to plant and machinery for OFR and OTG products, and tooling development for new products. The construction of the Bhiwadi facility, which commenced in July 2025, is expected to be ready by May 2026, with a slight delay due to pollution control restrictions.
Looking ahead, Elin Electronics provided its FY26 guidance, expecting revenue growth of around 9-10% over FY25, driven by Home Appliances, Fans, and Motors segments. EBITDA margins are projected to be between 5.3% and 5.8%. The company targets working capital days to be between 45-50 days. Future growth drivers include government policies like 'Make in India' and PLI benefits, cost leadership through scale and R&D, and favourable demographics with rising urbanization and disposable income.
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