Aimtron Order Book Reaches Rs 733.3 Crore, 61.8% Non-India

Aimtron reported a consolidated order book of Rs 733.3 crore at September 30, 2026, equal to about 2.4 times FY26 revenue, with non-India customers accounting for 61.8% and box build accounting for 52.7%. The backlog mix was more weighted to box build than H1FY27 revenue, where box build represented 47.4%.

What was Aimtron’s order book at September 30, 2026?

Aimtron’s closing consolidated order book was Rs 733.3 crore at September 30, 2026, up from Rs 521.2 crore at April 1, 2026. The increase followed Rs 436.8 crore of orders received during H1FY27 and Rs 224.7 crore of orders executed during the same six-month period.

The order-book bridge shows a net increase of Rs 212.1 crore in H1FY27. Aimtron reported revenue from operations of Rs 224.71 crore for H1FY27, which broadly matches the Rs 224.7 crore of orders executed in the order-book summary, subject to the presentation’s rounding.

The Rs 733.3 crore closing figure was about 2.4 times Aimtron’s FY26 consolidated revenue of Rs 301.16 crore. It was also about 3.3 times H1FY27 revenue of Rs 224.71 crore, although the presentation does not state when individual backlog orders will be executed or recognised as revenue.

Aimtron also disclosed a request for quotation, or RFQ, pipeline of more than Rs 1,400 crore. The presentation reports this pipeline separately from the order book and does not disclose expected conversion rates, customer commitments, order timing or the portion likely to become confirmed orders.

How international is Aimtron’s order book?

Aimtron’s closing order book was 61.8% non-India and 38.2% India at September 30, 2026. Non-India orders therefore exceeded India orders by 23.6 percentage points in the Rs 733.3 crore backlog.

The presentation does not provide a geographical split of H1FY27 revenue, so the 61.8% non-India order-book share cannot be compared with a reported overseas revenue share. It does establish that the unexecuted order mix was weighted towards customers outside India at the reporting date.

Aimtron’s growth strategy includes strengthening its global presence, with a stated focus on European and Australian markets. Management identifies targeted sales and marketing initiatives, along with participation in international exhibitions, as measures intended to increase market penetration; the presentation gives no country-level backlog values.

Is box build becoming a larger part of Aimtron’s work?

Yes, box build was 52.7% of Aimtron’s order book at September 30, 2026, compared with 47.4% of H1FY27 consolidated revenue. The 5.3-percentage-point difference indicates that box build had a larger share of unexecuted orders than of first-half sales.

Printed circuit board assembly, or PCBA, accounted for 40.8% of the closing order book, versus 52.2% of H1FY27 revenue. PCBA’s backlog share was therefore 11.4 percentage points below its revenue share, while end-to-end solutions were 6.5% of the order book compared with 0.5% of revenue.

Aimtron’s strategy presentation also describes a greenfield project, Aimtron Mechatronics, for in-house manufacturing of plastic components, sheet metal and wire harnesses. Management says this backward-integration plan is intended to reduce dependence on third-party suppliers and improve supply-chain efficiency, but it does not disclose capacity, capital expenditure, commissioning timing or expected box-build revenue.

Which industries make up Aimtron’s order book?

IoT, robotics and drone projects were the largest disclosed order-book category at 29.9%, followed by energy and power at 26.7% and industrial and automation at 13.8%. These three categories together represented 70.4% of Aimtron’s Rs 733.3 crore closing backlog.

The industry mix of backlog differed from H1FY27 revenue. IoT, robotics and drone activity represented 17.9% of revenue but 29.9% of backlog, a 12.0-percentage-point increase. Energy and power rose from 19.8% of revenue to 26.7% of backlog, while industrial and automation was broadly similar at 13.5% of revenue and 13.8% of backlog.

Ruggedized electronics accounted for 11.7% of orders at September 30, 2026, compared with 7.4% of H1FY27 revenue. Other backlog categories were battery energy storage systems, or BESS, at 4.0%; business management systems, or BMS, and automotive at 3.9%; gaming at 3.8%; MedTech at 3.5%; aerospace and defence at 2.2%; and others at 0.5%.

Telecom was Aimtron’s largest H1FY27 revenue category at 23.2%, but it was not separately listed in the order-book industry bifurcation. The disclosed backlog categories total 100%, while the presentation does not explain why telecom appears in the revenue classification but not as a separate closing-backlog category.

How does Aimtron’s backlog compare with recent financial performance?

Aimtron reported H1FY27 consolidated revenue of Rs 224.71 crore, up 83.3% year on year from Rs 122.58 crore in H1FY26. Earnings before interest, tax, depreciation and amortisation, or EBITDA, increased 61.4% to Rs 48.61 crore, while profit after tax rose 71.5% to Rs 34.79 crore.

H1FY27 EBITDA margin was 21.6%, compared with 24.6% in H1FY26, while net profit margin was 15.5%, compared with 16.5% a year earlier. The order book was larger than FY26 revenue of Rs 301.16 crore, but it does not by itself indicate the revenue or margins Aimtron will report in a specific future period.

Management has set out a 40% to 50% compound annual growth rate target for three to five years. The stated strategy includes medical and healthcare equipment, industrial electronics, automobiles, drones, defence and aerospace, telecom, railways, energy, power and BESS, but the presentation does not provide annual revenue or margin targets tied to the Rs 733.3 crore order book.

Conclusion

Aimtron’s September 2026 backlog shows a business mix tilted towards non-India customers and box-build work, relative to the available H1FY27 revenue mix. IoT, robotics and drone projects and energy and power accounted for 56.6% of the Rs 733.3 crore order book, concentrating much of the disclosed unexecuted work in two industry categories.

The next disclosures to watch are execution of the Rs 733.3 crore order book, changes in the more than Rs 1,400 crore RFQ pipeline and progress on Aimtron Mechatronics’ in-house component plan. Management’s stated 40% to 50% growth target over three to five years is the disclosed forward benchmark, while the presentation gives no dated commissioning or RFQ-conversion target.