Anlon Technology FY26 results: revenue up 111% YoY

Key takeaway from the FY26 update

Anlon Technology Solutions Ltd (NSE: ANLON), which provides engineering solutions for airports and industrial infrastructure, reported record FY26 financial results, supported by its stated 'Make in India' strategy. FY26 revenue rose 110.85% year-on-year to ₹105.92 crore, up from ₹50.23 crore in FY25. Profit after tax (PAT) increased 113.79% year-on-year to ₹13.88 crore compared with ₹6.49 crore a year earlier. The company also highlighted a strong order book of about ₹110.15 crore, which it said supports revenue visibility.

FY26 performance: revenue and profit growth

The company disclosed FY26 revenue of ₹105.92 crore (₹10,591.69 lakh) versus ₹50.23 crore (₹5,023.30 lakh) in FY25. PAT for FY26 stood at ₹13.88 crore (₹1,387.53 lakh) versus ₹6.49 crore (₹649.01 lakh) in FY25. PAT margin improved to 13.10% in FY26 from 12.92% in FY25, an increase of 18 basis points. The FY26 numbers were presented as being driven by indigenously manufactured offerings and partnerships supporting its manufacturing-led strategy.

H2 FY26: sharp acceleration and margin expansion

In the second half of FY26, revenue rose 107.02% year-on-year to ₹64.54 crore (₹6,453.51 lakh), from ₹31.17 crore (₹3,117.34 lakh) in H2 FY25. The company also reported that H2 FY26 EBITDA increased by around 111% year-on-year, with EBITDA margin improving to 19.4%. Net profit for H2 FY26 rose 114.5% year-on-year, and PAT margin for the period was stated at 13.10%. The disclosures indicate that the operating leverage from higher scale and product mix supported the improvement in reported margins.

Shift to manufacturing: what changed in the revenue mix

Anlon said it has transitioned to a manufacturing-driven engineering solutions platform. It indicated that manufacturing and assembly contributed about 50% of FY26 revenue. In management commentary, the Chairman and Managing Director, Unnikrishnan Nair, stated that the company has reached up to 65% in manufacturing contribution. The shift matters because it changes both the cost structure and the working capital profile compared with a distribution-heavy model. The company also noted that manufacturing and assembly margins are currently lower than distribution, with a blended margin of around 15% compared with about 20% in distribution.

Order book at ₹110.15 crore: composition and visibility

Anlon reported an order book of approximately ₹110.15 crore. In management commentary, CFO Anushree Chaumal said that out of this, ₹45 crore is for manufacturing and assembly. She also outlined some of the manufacturing and assembly line items, including runway rubber removal machines (₹8 crore), emergency response vehicles (₹13 crore), and turntable ladders (₹9.67 crore), among other orders. The order book details provide a clearer split between manufacturing-led execution and other areas of the business.

Domestic focus and near-term constraints

The company said it is currently focused on fulfilling domestic market demand, which may limit international expansion in the short term. It also highlighted a significant backlog of demand linked to policy shifts and COVID-19, which may strain resources. Separately, it acknowledged that scaling up to meet increasing demand will require additional investment in capacity and resources. These comments frame the growth story as execution-led, where delivery capability, capacity additions, and working capital management become key operational variables.

Working capital and cash flow disclosures from the half-year commentary

In its half-year commentary for the period ended September 30, 2025, Anlon reported revenue from operations of ₹41.38 crore. It also cited spending of ₹3.70 crore towards manufacturing of motor vehicles (sweeping machines) intended for demo and hire use, described as capital work in progress. It reported incurring ₹0.01 crore (₹1.49 lakh) towards construction of an office building under construction as of September 30, 2025. The same commentary stated that cash flow from operations improved to a net inflow of ₹5.89 crore for the last half year ended September 30, 2025, from a net outflow of ₹9.20 crore for the half year ended September 30, 2024 and a net outflow of ₹16.70 crore for the year ended March 31, 2025.

Earnings call: date, time, and participants

Anlon said it will conduct an earnings call on May 28, 2026 at 10:00 AM to review financial results for the year ended March 31, 2026. The call is stated to be SEBI-compliant and requires prior registration via a weblink. Key speakers include Chairman and Managing Director Mr. Unnikrishnan Nair P M and CFO Mrs. Anushree Chaumal.

Quick snapshot table: FY26 vs FY25

The following table summarises the key figures disclosed for FY26 and FY25, with all amounts normalised to ₹ crore.

Market context signals and what investors may track

The company disclosed that over the last five years, revenue grew at a yearly rate of 26.93% versus an industry average of 9.89%, and net income grew at a yearly rate of 53.97% versus an industry average of 27.17%. It also flagged that debtor days increased from 97.1 to 138 days, which is relevant for cash conversion in a project-linked and manufacturing-led model. Another stated weakness was that despite repeated profits, the company is not paying a dividend. In forward-looking commentary, management said it is planning for 30% to 35% growth in FY27, positioning this as an internal plan based on momentum across key segments.

Conclusion

Anlon’s FY26 disclosures show a sharp scale-up in revenue and profit alongside a clear push toward manufacturing and assembly. The ₹110.15 crore order book and the stronger H2 margin profile provide near-term visibility, while the company’s own comments highlight capacity and resource requirements as it scales. The next formal checkpoint for investors is the May 28, 2026 earnings call, where management is expected to discuss execution, margins, and the order pipeline in more detail.