Elin Electronics Ltd (ELIN) — FY26 Annual Report | 3 September 2026 (2 announcements)

Elin Electronics Ltd reported FY26 revenue of ₹12,877 million, driven by 42% growth in small appliances and personal care, with near-zero borrowings and improved working capital to 59 days. The company resumed US exports after tariff suspension, targets 15% FY27 growth amid BIS regulatory tailwinds, and faces risks from customer concentration and Bhiwadi plant delays. ESG initiatives focus on sustainability and community development, while governance remains robust with no material weaknesses.

Elin Electronics Ltd reported FY26 revenue of Rs 1,288 crore (9.1% YoY growth) and EBITDA of Rs 546 million, with PAT declining to Rs 226 million due to raw material inflation and currency depreciation. The company is commissioning its Bhiwadi plant (Rs 100 crore investment) to target Rs 550-600 crore turnover by FY27, aiming for 15% top-line growth driven by regulatory changes and new customer acquisitions. It reduced reliance on legacy customers from 50-56% to ~43% by onboarding five new marquee lighting clients, with these contributing Rs 150-170 crore revenue in FY27. The Bhiwadi facility, set for July-August 2026 commissioning, will focus on medium-sized appliances like OTGs and chimneys, leveraging backward integration for 6-8% cost advantages. The company maintains near-zero borrowings, improved working capital cycles (59 days), and robust ESG practices, including solar installations (1,825 kWp) and CSR spending exceeding mandatory thresholds. It faces risks from raw material volatility, geopolitical export challenges, and BIS regulatory compliance deadlines.