Arham Technologies FY26: Revenue up 70%, FY28 target

FY26 numbers signal faster scale-up

Arham Technologies Ltd (NSE-SME: ARHAM) reported a strong FY26, with revenue and profitability rising sharply year-on-year as it pushed deeper into India’s consumer electronics market. The Raipur-based company said demand across product categories, deeper market penetration, and investments in manufacturing and distribution supported the performance. For FY26, revenue from operations rose to ₹118.56 crore from ₹69.89 crore in FY25, a rise of nearly 70%. Profit after tax increased 67.75% to ₹12.20 crore, while EBITDA grew 50% to ₹19.03 crore. Management also reiterated its guidance to reach ₹300 crore revenue by FY28, positioning FY26 as a base year for a bigger distribution and manufacturing build-out.

What management highlighted behind the growth

The company linked the year’s performance to stronger operating execution and an improving product mix. On its earnings communications, Arham described a transition from being a regional and EMS-led player towards building a mass-market consumer electronics brand under the “Starshine” brand. Televisions and home appliances were highlighted as focus categories as the company scales. It also indicated continued investments in manufacturing and distribution capabilities to support this push. Industry observers cited in the update pointed to broader tailwinds such as rising domestic demand, policy support for local manufacturing, and a shift toward organised electronics brands, particularly in non-metro markets.

FY26 financial snapshot: revenue, profit, and margins

FY26 consolidated numbers showed growth across key lines. The company reported consolidated revenue from operations of ₹118.57 crore (₹11,856.61 lakh) and consolidated net profit of ₹12.20 crore (₹1,220.47 lakh). Consolidated total income was ₹118.59 crore (₹11,859.36 lakh). EBITDA for the year came in at ₹19.03 crore (₹1,903.22 lakh) with an EBITDA margin of 16.05%. Alongside consolidated reporting, the company also disclosed standalone results for FY26, where revenue from operations stood at ₹102.25 crore and net profit at ₹7.38 crore.

H1 FY26: profitability jumped faster than revenue

Arham’s first earnings call took place on November 17, 2025, to discuss results for the half year ended September 30, 2025. For H1 FY26, revenue from operations was ₹45.63 crore, up 40.66% year-on-year. Total income stood at ₹46.24 crore, up 42.45% compared with the same period last year. EBITDA increased to ₹8.46 crore, a 64.27% rise year-on-year. PAT rose 123.48% to ₹5.90 crore, and PAT margin expanded to 12.93% from 8.14% a year earlier. EPS increased 11.54% to ₹3.48 during the period.

Product mix: televisions led H1 FY26 revenue

The company disclosed that televisions were the largest contributor to H1 FY26 revenue. Televisions contributed approximately ₹30 crore, or 65.74% of total H1 revenue. Fans contributed ₹10 crore (21.91%), while air coolers added ₹4 crore (8.77%). The emphasis on televisions aligns with management commentary about scaling in the TV segment and expanding the home appliances portfolio. This mix also underlines why distribution reach and brand investments are being treated as key levers.

Distribution and geography: deeper non-metro push

Arham said distribution expansion remains a core driver, supported by a growing dealer network in Tier II and Tier III markets. On geography, it highlighted strength in Chhattisgarh, Odisha, and Madhya Pradesh. The company outlined plans to establish a presence in Gujarat, Rajasthan, Andhra Pradesh, Maharashtra, Uttar Pradesh, Jharkhand, and Bihar. It also flagged Southern India as a targeted expansion region during FY26-27, covering Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana. Separately, Arham stated an export ambition for international markets to contribute 20% of revenue over time.

Brand and capacity plans: marketing outlay and land acquisition

Arham said it plans to onboard a celebrity ambassador and allocate approximately ₹10-₹12 crore over the next two years for branding and marketing. In the FY26 update, it also disclosed that actor Vicky Kaushal was appointed as Brand Ambassador. On the capacity side, the company acquired 6,350 sq. mt. of land at EMC, Nava Raipur at a subsidised cost of ₹0.52 crore (₹52.39 lakh) against a market value of ₹4.31 crore. The stated objective is to support backward integration into moulding, sheet metal, and motors. The company also cited a ₹53.5 crore preferential issue as part of its strategic fund deployment to support expansion and distribution.

Certifications and portfolio expansion

Arham said it secured Google EDLA certification with Android 14 for IFPDs and expanded its product portfolio with next-generation premium fans. These updates were presented as part of broader efforts to strengthen the product stack while scaling distribution. The company’s communications also highlighted continued investments aimed at manufacturing integration. While the update did not quantify category-wise FY26 shipments, it positioned product upgrades and certifications as supportive for institutional and consumer-facing segments.

Market reaction and investor focus areas

A separate market update noted that Arham Technologies shares jumped about 7% after the company reiterated its ₹300 crore revenue target by FY28 and outlined expansion plans across smart TVs, IoT products, and new regions. During the trading session referenced, the stock rose nearly 7.5% on NSE, and was quoted at ₹103.6 on BSE, up about 5% versus the previous close of ₹98.45. The market capitalisation cited was ₹175.3 crore. Investors are likely to track the pace of distribution additions, execution of manufacturing integration, and the planned increase in branding spend. The company’s stated export ambition and category mix, led by televisions, are also key variables that can influence the growth trajectory.

Key numbers at a glance

Why the FY28 guidance matters in context

Management reiterated confidence in achieving its ₹300 crore revenue guidance by FY28, citing demand conditions and supportive industry tailwinds for domestic consumer electronics. The FY26 performance provides a higher base, but the expansion plan also implies heavier execution work across distribution, branding, and manufacturing integration. The disclosed ₹10-₹12 crore branding plan over two years, the ₹53.5 crore preferential issue, and the land acquisition for backward integration point to a strategy that mixes demand creation with capacity building. For market participants, the key is that the company is tying guidance to specific levers it has already started funding and implementing.

Upcoming disclosures and the latest earnings call update

Arham said it held its H2 FY26 earnings call on May 27, 2026, led by CFO Ankit Jain and CEO Anekant Jain, and that the discussion was based on generally available information without UPSI. The company also stated that the audio recording of the call is available on its website. The next set of checkpoints for investors will be updates on distribution expansion into the targeted states, progress on manufacturing integration at the Nava Raipur site, and the ramp-up of branding initiatives.