Centum Electronics FY26: ₹973cr revenue, orderbook ₹1,645cr

Record year for standalone revenue, but reported loss

Centum Electronics reported its highest-ever standalone revenue from operations at ₹973 crore for FY26, marking a 25.4% year-on-year increase. The company said growth was supported by strong execution across its Built-to-Specification (BTS) and Electronics Manufacturing Services (EMS) businesses. Profitability metrics also improved on an operating basis, with EBITDA rising 28.4% year-on-year to ₹121 crore.

But the headline profit figure was weighed down by one-time items. Centum reported a standalone net loss of ₹117.05 crore, which it attributed to exceptional items of ₹203.3 crore. The company indicated these were primarily provisions related to overseas subsidiaries.

FY26 standalone performance: growth and operating leverage

For FY26, standalone EBITDA increased to ₹121 crore, with an EBITDA margin of 12.42%. The company also reported that profit before tax (before exceptional items) surged 62.7% year-on-year to ₹100 crore. Management linked the improvement to stronger execution, a better program mix, and operating discipline.

Alongside profitability, Centum highlighted strengthening demand across end markets including defence, aerospace, semiconductor, industrial, and electrification. It said operating leverage improved as volumes scaled in both BTS and EMS.

Q4 FY26: strong revenue growth, stable margin

In Q4, standalone revenue from operations stood at ₹344 crore, up 25.6% year-on-year and 44.4% quarter-on-quarter. Quarterly standalone EBITDA came in at ₹46 crore, up 5% year-on-year, with an EBITDA margin of 13.22%.

Profit before exceptional items and tax for Q4 was reported at ₹43 crore, representing 19% year-on-year growth. The company described the quarter as being supported by robust execution and continued traction in its chosen strategic segments.

BTS and EMS: both segments contributed to the year

Centum said FY26 saw strong execution across both BTS and EMS, resulting in healthy growth in its core standalone operations. In BTS, the company described FY26 as “a particularly strong year,” with revenue growth of approximately 37% year-on-year.

The EMS business delivered revenue growth of approximately 21% year-on-year. Centum attributed this to customer ramp-ups, healthy order inflows, and continued diversification across strategic end markets.

Demand drivers: defence, aerospace, semiconductors and electrification

Management highlighted traction across defence, aerospace, semiconductor, industrial, and electrification segments during Q4 and across FY26. It also pointed to improving operating leverage, indicating that scale benefits helped support margins.

Separately, the company flagged a targeted EMS semiconductor opportunity of $10 million in FY26, with a potential $10 million run-rate in two years, and said it was in talks with potential new semiconductor clients.

Order book rises to ₹1,645 crore, offering visibility

Centum ended FY26 with a standalone order book of approximately ₹1,645 crore, reflecting around 22.7% to 23% year-on-year growth. The company said this provided “strong visibility” for the coming years.

Order book growth is important for companies operating in long-cycle segments such as defence and aerospace, where project timelines and qualification processes can stretch across quarters. Centum’s commentary suggested that order inflows kept pace with execution during the year.

Exceptional items: provisions for overseas subsidiaries

Despite stronger operating performance, FY26 reported profitability was impacted by exceptional items. Centum reported exceptional items of ₹203.3 crore, which it said were primarily provisions and impairments related to overseas subsidiaries.

As a result, the company reported a standalone net loss of ₹117.05 crore for FY26. While Centum provided the broad reason, investors typically track whether such provisions are one-off in nature and how they influence future consolidated performance.

Consolidated snapshot and balance sheet metrics

On a consolidated basis, Centum reported Q4 revenue from operations of ₹340 crore, up 28% year-on-year. Q4 consolidated EBITDA stood at ₹49 crore, up 7% year-on-year, with an EBITDA margin of 14.31%. Profit before tax from continuing operations for Q4 was ₹46 crore, up 20% year-on-year.

For FY26, consolidated revenue stood at ₹953 crore, up 29% year-on-year, while consolidated EBITDA was ₹135 crore, up 37% year-on-year, with a margin of 14.22%. Profit before tax from continuing operations was ₹115 crore, and profit after tax from continuing operations was ₹101 crore.

Centum also shared balance sheet indicators: total debt-to-equity at 0.28x, adjusted net working capital days improving to 142 days from 159 days in the previous year, and adjusted ROCE improving to 21.16% from 12.40%.

Key numbers at a glance

What investors are likely to track next

From a market perspective, the key takeaway is the divergence between operating performance and reported profit due to exceptional items. FY26 showed higher revenue, rising EBITDA, and stronger pre-exceptional profitability, alongside a larger order book that management says improves visibility.

At the same time, the provisions linked to overseas subsidiaries are central to how investors assess earnings quality and consolidated risk. Future updates on overseas operations, as well as the pace of execution against the ₹1,645 crore standalone order book, are likely to remain in focus.

Conclusion

Centum Electronics ended FY26 with record standalone revenue of ₹973 crore and a standalone order book of ₹1,645 crore, supported by growth in BTS and EMS. Operating profitability improved, but the company reported a standalone net loss of ₹117.05 crore after exceptional provisions of ₹203.3 crore related largely to overseas subsidiaries. The next set of disclosures and commentary around execution, order conversion, and overseas subsidiary performance will be closely watched in upcoming quarters.