Synopsis: EMS firm shares hit a 10% upper circuit after strong FY26 results, with robust growth, a Rs. 521 crore order book, and a Rs. 900–950 crore pipeline supporting future expansion and diversified revenue streams.
The shares of this company are in the business of manufacturing printed Circuit Boards (PCB) and also provides services related to the designing of PCBs are in the spotlight after hitting 10% upper circuit on near doubling of revenue, and a Rs. 900 to 950 Cr pipeline boost
With a market capitalisation of Rs. 2,262 cr, the shares of Aimtron Electronics Limited were trading at Rs. 1,098 per share, hitting 10% upper circuit in today’s market session, making a high of Rs. 1,119.05, up from its previous close of Rs. 1,017.35 per share.
Q4FY26 Results
Aimtron Electronics Ltd delivered a strong year-on-year (YoY) performance in FY26, with revenue from operations rising to Rs. 301.2 crore from Rs. 159 crore, up 89.2% from FY25. EBITDA grew 93.6% YoY to Rs. 65.8 crore from Rs. 34 crore, while EBIT increased 90.9% to Rs. 61.6 crore, reflecting strong operating leverage. Profit After Tax (PAT) came in at Rs. 46.0 crore, marking a 79.4% increase, although net profit margin slightly declined to 15.3%, down 84 bps, mainly due to higher tax provisions and expansion-related investments.
On a half-yearly basis, H2 FY26 showed clear momentum over H1 FY26. Revenue grew 45.7% to Rs. 178.6 crore, while EBITDA increased to Rs. 35.7 crore from Rs. 30.1 crore, despite a moderation in EBITDA margin to 20.0% from 24.6% in H1. EBIT rose to Rs. 33.3 crore, and PAT improved to Rs. 25.7 crore, up from Rs. 20.3 crore in H1, highlighting stronger execution and scaling in the second half even as costs increased.
Order book
The company reported a strong order book position for FY26, with the closing order book standing at Rs. 521.2 crore as of March 31, 2026, compared to an opening level of Rs. 463.9 crore. During the period, the company secured fresh orders worth Rs. 218.8 crore while executing orders of Rs. 161.5 crore, reflecting steady inflow and healthy execution.
The order book remains well-diversified across industries, led by telecom, power & data centres, IoT & robotics, and industrial segments, with additional contributions from automotive, defence, and gaming. Geographically, India dominates with over 80% share, followed by the USA and Europe, while segment-wise, box build (~67.6%) and PCBA (~29.2%) form the majority of the mix.
The company also maintains a robust RFQ pipeline of Rs. 900–950 crore, indicating strong future growth visibility. Strategic focus areas include high-value European box build OEM opportunities (~Rs. 38.7 crore) and expansion in the railway sector, where Aimtron is engaged in end-to-end development of safety-critical railway signalling systems, including advanced technologies like automatic train protection. This diversified order pipeline and sectoral presence position the company well for sustained growth.
Revenue segmentation
The company has a well-diversified industry-wise revenue mix in FY26, led by Industrial (23.3%) and Telecom & Network Security (22.3%), followed by Power (18.5%) and IoT & Robotics (13.1%). Other meaningful contributions come from MedTech (7.3%), BMS & Automotive (6.7%), and Gaming (5.2%), while niche segments like aerospace & defence, oil & gas, and railways contribute smaller shares, reflecting broad-based sector exposure.
On the geographical front, India remains the dominant market, contributing 74.3% of revenue, followed by the USA (11.1%) and North America (7.9%), with smaller shares from Spain, Australia, and other regions. This highlights a strong domestic base complemented by a growing international presence.
From a segment perspective, Box Build leads with 68.8% share, followed by PCBA at 28.6%, while ODM contributes 2.6%, indicating a strong focus on higher value-added, integrated manufacturing solutions.
Aimtron Electronics Limited is an India-based electronics design and manufacturing services (EMS) company. The company provides end-to-end solutions including PCB assembly, box-build, and product design services across industries such as automotive, medtech, aerospace, industrial, and IoT.
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