IKIO Technologies Ltd (Capital Goods - Electric General) — fundamental analysis, earnings data, and key metrics. PE: 64.2. ROE: 5.5%. This stock is not currently in the Nifty 500 momentum outperformers list.
Based on Q3 FY26 earnings • Updated Apr 18, 2026
What: Automotive vertical start: 4-5 big customers
“So this month actually is going to be our first month for actual sales... we'll be utilizing for the hearable, wearable expansion and also the automotive.”
What: Export revenue growth: 57% YoY
Impact: INR 90 Cr in 9M
“revenue from outside India rose 57% year-on-year to INR90 crores in 9 months of FY '26 despite macro headwinds in the U.S.A.”
What: EBITDA margin expansion: 280 bps YoY
Impact: 15% margin
“now that upward trend is basically happening due to the efficiencies that we are achieving and also the revenue that we see is increasing.”
What: PLI Scheme benefit: INR 5-6 crores
Impact: 4-4.5% of revenue
“So around 4%, 4.5% amounting to a value of somewhere around INR5 crores to INR6 crores... for the next year.”
What: Gravus Tech Acquisition: 88% stake
“acquisition of a stake at 88% stake in Gravus Tech has enhanced company's marketing and distribution capabilities on high lighting products”
What: EBITDA growth of 47% YoY
“EBITDA increased by 47% year-on-year and 19% quarter-on-quarter to INR22 crores with EBITDA margin expanding to 15%”
What: 35% to 36% → 40% to 45%
“we believe that our sustainable gross margin should anywhere be between 40% to 45%.”
Earnings deceleration risks from management commentary
Trigger: Prevailing tariff situation between India and the U.S.
Management view: Liquidating existing stocks in the U.S. and diversifying into the Middle East and European markets.
Monitor: geopolitical
Trigger: Seasonal construction bans in North India to control pollution.
Management view: Interior works continued; commercialization rescheduled for Q1 FY27.
Monitor: regulatory
Key quotes from recent conference calls
“Somewhere around a growth of 15% in the top line, and we are on track with that. [Previous Revenue Growth guidance]”
“we should be close to around 16% to 18% in the coming quarters. And then thereafter, maybe it will be a better time [Previous EBITDA Margin guidance]”
“acquisition of a stake at 88% stake in Gravus Tech has enhanced company's marketing and distribution capabilities on high lighting products [Initiative: Acquisition of 88% stake in Gravus Tech]”
“We already started -- this month, we have already started delivering the products to all the four, five big customers. [Initiative: Entry into Automotive Lighting]”
Headline numbers from the latest earnings call
Revenue
INR 146 crores
Why: Growth was driven by a broader customer base and expanded product portfolio despite macro headwinds in the U.S.A. amid tariff uncertainty.
Revenue growth remains positive on a year-on-year basis but showed a sequential decline from Q2's INR 164 crores.
EBITDA
INR 22 crores
Why: Margin expansion was driven by operational efficiencies and the increasing contribution of new verticals as front-loaded expenses began to normalize.
EBITDA margins showed a significant recovery from the 11.2% reported in the previous quarter.
PAT
INR 11 crores
Why: Profit growth followed the EBITDA trajectory with PAT margin expanding to 7.4% due to better absorption of strategic expenses.
PAT remained flat sequentially at INR 11 crores but margins improved by 80 basis points quarter-on-quarter.
Other Highlights
• Other businesses segment revenue reached INR 101 crores in Q3 FY26, up 33% year-on-year.
• Revenue from outside India rose 57% year-on-year to INR 90 crores for the 9-month period.
• Cash PAT increased 27% year-on-year to INR 19 crores.
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Other Businesses Revenue Contribution
70%
Why: Reflects successful diversification beyond the core home lighting ODM business.
Revenue from Outside India (9M)
INR 90 crores
Why: Strong momentum in the Gulf market led by new client additions.
Block II Manufacturing Facility Size
2 lakh square feet
Why: Construction is finished and assembly lines are being installed for Q1 FY27 start.
Target Utilization - Hearables/Wearables
80% to 85%
Why: Volume-driven nature of the business allows for high optimal utilization.
Target Utilization - Automotive
80% to 85%
Why: Expected to reach this level as the vertical scales up over several quarters.
IPO Proceeds Utilization
83%
Why: Continued deployment towards the Greenfield project and debt repayment.
Lighting SKUs
1,500 to 2,000
Why: Accumulated over a decade of operations in the lighting segment.
Wearable/Hearable Product Portfolio
40 products
Why: Serving 5-6 major brands with 4-5 products each.
Forward-looking targets from management for FY26
Revenue Growth Target
15%
OPM Guidance
40–45%
15% year-on-year growth
REAFFIRMED
Guidance Changes
Gross Margin: 35% to 36% → 40% to 45%
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
IKIO Technologies Ltd's latest quarterly results (Dec 2025) show
IKIO Technologies Ltd's current PE ratio is 64.2x.
IKIO Technologies Ltd's price-to-book ratio is 2.1x.
IKIO Technologies Ltd's fundamental strength based on key financial ratios
IKIO Technologies Ltd has a debt-to-equity ratio of N/A.
IKIO Technologies Ltd's return ratios over recent years
IKIO Technologies Ltd's operating cash flow is positive (FY2025).
IKIO Technologies Ltd currently does not pay a significant dividend (yield 0.00%).
IKIO Technologies Ltd's shareholding pattern (Mar 2026)
IKIO Technologies Ltd's promoter holding has increased recently.
IKIO Technologies Ltd is an established outperformer with 1 weeks of consecutive Nifty 500 outperformance.
IKIO Technologies Ltd has 7 key growth catalysts identified from recent earnings analysis
IKIO Technologies Ltd has 2 key risks worth monitoring
In Q3 FY26, IKIO Technologies Ltd's management highlighted
IKIO Technologies Ltd's management has provided the following forward guidance for FY26
IKIO Technologies Ltd's most important sub-sector-specific KPIs from the latest concall
Based on quantitative research signals, here is why IKIO Technologies Ltd may be worth studying
IKIO Technologies Ltd investment thesis summary:
IKIO Technologies Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
