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Elin Electronics Limited Q3FY26 & 9MFY26 Earnings Presentation February 2026
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Disclaimer This investor presentation has been prepared for informational purposes only. This Presentation does not constitute a prospectus or offering memorandum and is not an offer or initiation to buy or sell any securities, nor shall part or all of this presentation form the basis of, or to be relied on in connection with any contract or investment decision in relation to any securities. This Presentation contains forward looking statements based on the currently held outlook of the management of the Company which are expressed in good faith and in management’s opinion are reasonable. The forward looking statements may involve known and unknown risks which may cause the actual results or achievements of the Company to differ materially from those in forward-looking statements. These forward-looking statements represent only the Company’s current intentions, beliefs or expectations, and any forward-looking statement speaks only as of the date on which it was made. The Company assumes no obligation to revise or update any forward looking statements.
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S No Description 1 Company Overview 2 Q3 FY26 & 9M FY26 Financial Performance & Business Discussion 3 Guidance & Future Outlook Agenda
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Elin Electronics at a Glance 1 Who We Are Key Product Verticals EMS Products Home Appliances Fractional Horsepower Motors LED Lighting, Fans and Switches Other EMS Products Components Medical Diagnostic Cartridges Moulded and Sheet Metal Components • We are a leading EMS company, manufacturing end-to end product solutions for both international and domestic brands of lighting, fans, and home appliances in India, and are one of the largest fractional horsepower motors manufacturers in India • Serve customers under both OEM (manufacture and supply products basis designs developed by customers) and ODM (conceptualize, design and manufacture) business models • Highly backward integrated with a strong focus on R&D, emerging technologies and cost optimization across products through value analysis and engineering Serving a Marquee Customer Base HAVELLS
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Key Business Segments 2 Particulars Products Manufactured • LED lighting – Battens, Downlights, Office, Solar street lights, Smart lighting etc • LED Flashlights • Fans – Ceiling, BLDC Ceiling, Fresh air, TPW etc. • Modular switches and sockets • Dry and steam irons • Mixer grinders • Hand blenders • Electric Kettle • Oil Filled Radiator • Hair dryer & straighteners • Trimmers • Electric Sterilisers • Heated Hair Brush • Coming soon – OTG, Air Fryers, Chimneys, Air Coolers FHP motors used in – • Mixer grinder • Hand blender • Wet grinder • Chimney • Air conditioner • TPW fans • Medical diagnostic cartridges for use in diagnostic devices • Plastic moulded and sheet metal parts and components, largely for customers in the auto ancillary and consumer durables sectors Home Appliances FHP Motors LED Lighting, Fans and Switches Medical Diagnostic Cartridges Moulded and Sheet Metal Component EMS Products Components
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Manufacturing Locations 3 Baddi, Himachal Pradesh Commenced Operations in 2004 • Home appliances – Small appliances & Personal Care products Ghaziabad, Uttar Pradesh Commenced Operations in 1970 • Fractional horsepower motors • LED lighting & fans • Plastic moulded parts and sheet metal components Verna, Goa Commenced Operations in 1995 • Medical diagnostic cartridges • Plastic moulded parts and sheet metal components Products manufactured Medium sized Home appliances such as Air coolers, chimneys, air fryers, OTGs will be made at Bhiwadi
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Manufacturing Facilities 4 TOOL ROOM PRESS SHOP AL DIECASTING MOTORS MANUFACTURING EMS FACILITY SMT lines, Capacity: 600K CPH – 15 T to 350 T MOULDING SHOP 50T - 700 T 150T - 650 T ASSEMBLY LINES PAD PRINTING TESTING LAB COATING POWDER COATING, LIQUID PAINTING METALLIZING
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S No Description 1 Company Overview 2 Q3 FY26 & 9M FY26 Financial Performance & Business Discussion 3 Guidance & Future Outlook Agenda
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Q3FY26 & 9MFY26 Snapshot Operating Revenue INR 2,935 million up ~10% YoY from INR 2,663 million EBITDA INR 119 million up ~57% YoY from INR 76 million Profit After Tax INR 38 million up ~162% YoY from INR 14 million Net Cash / (Debt) INR 590 million from INR 942 million Net WC Days ~68 days from ~59 days 5
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Q3FY26 & 9M FY25 Snapshot 6 Revenue grew ~10% on a YoY basis: YoY growth was largely driven by strong growth in our appliances business which was partially offset by decline in lighting Non EMS business i.e. precision components saw a marginal decline YoY due to planned maintenance undertaken in Q3 EBITDA showed improvement because of cost savings initiatives on employee and other expenses Gross margins impacted marginally due to surging raw material costs viz. copper, aluminium and steel, repricing with customers on expected lines (largely quarterly basis) Exceptional items amounting to ~INR 9 million are on account of provisions relating to new labour code introduced by the Govt INR million Q3-FY25 Q3-FY26 Q2-FY26 Q3-FY26 9MFY25 9MFY26 Revenue 2,663 2,935 3,745 2,935 8,645 9,635 EBITDA 76 118 204 108 321 497 Margin % 2.8% 4.0% 5.4% 3.7% 3.7% 5.2% PAT 14 37 103 37 121 234
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Revenue Breakdown 7 INR million Q3-FY25 Q3-FY26 Q2-FY26 Q3-FY26 9M-FY25 9M-FY26 Lighting, Fans & Switches 676 623 724 623 2,237 2,148 Small Appliances 523 1,028 1,406 1,028 1,988 3,120 FHP Motors 558 456 735 456 1,956 1,805 Other EMS 155 141 101 141 405 396 Total EMS 1,912 2,248 2,966 2,248 6,586 7,469 Precision Components & Others 684 583 692 583 1,952 1,887 Medical Cartridges 67 105 88 105 107 279 Total Non-EMS 751 688 779 688 2,059 2,167 Total Revenue 2,663 2,935 3,745 2,935 8,645 9,635
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Expenditure Analysis 8 Q3-FY25 Q3-FY26 Q2-FY26 Q3-FY26 9MFY25 9MFY26 Cost of Material Consumed 74.7% 75.1% 76.0% 75.1% 74.5% 74.5% Employee Benefits 14.9% 13.9% 12.0% 13.9% 14.5% 13.4% Other Expenses 7.5% 7.3% 6.6% 7.3% 7.3% 7.1% EBITDA w/o Other income 2.8% 4.0% 5.4% 3.7% 3.7% 5.2% Finance Costs 0.6% 0.6% 0.6% 0.6% 0.6% 0.6% Depreciation 2.3% 2.0% 1.6% 2.0% 2.0% 1.9% Profit Before Tax 0.7% 1.6% 3.7% 1.6% 1.9% 3.3% Tax 0.2% 0.4% 1.0% 0.4% 0.5% 0.8% Profit After Tax 0.5% 1.2% 2.7% 1.2% 1.4% 2.4%
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Lighting, Fans & Switches 9 Lighting revenue at an inflection point, expect newly added customers to contribute meaningfully in the coming quarters We have added 5 customers in lighting; expect them to ramp up over the next several quarters Fans revenue up ~100% YoY on better volumes primarily in the BLDC ceiling fans category TPW category also seeing good traction and demand INR million Q3-FY25 Q3-FY26 Q2-FY26 Q3-FY26 9M-FY25 9M-FY26 Lighting 512 386 475 386 1,646 1,256 Flashlights 34 27 64 27 200 185 Fans 107 183 152 183 320 613 Switches 24 27 33 27 71 94 Total 676 623 724 623 2,237 2,148
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Small Appliances 10 Kitchen & home care revenue grew by ~330% YoY largely on the back of strong volumes in OFR heaters Capacity utilization is improving across categories, expect it to get better over the course of the year Volumes across other categories like irons, mixer grinders were robust Personal care segment showed decline of ~9% YoY on the back of weaker volumes in hair straighteners and trimmers Strong volume growth in hair dryers INR million Q3-FY25 Q3-FY26 Q2-FY26 Q3-FY26 9M-FY25 9M-FY26 Kitchen & Home Care 232 768 977 768 1,121 2,169 Personal Care 290 260 429 260 867 951 Total 523 1,028 1,406 1,028 1,988 3,120
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Fractional Horsepower Motors Motors of Consumer durables comprise mixer grinders, hand blenders and chimney Strong growth in volumes of chimney motors offset by decline in volume of MG motors Others represents sale of synchronous motors (used in AC – impacted due to rains) and submersible pumps 11 INR million Q3-FY25 Q3-FY26 Q2-FY26 Q3-FY26 9M-FY25 9M-FY26 Consumer Durables 449 375 660 375 1,533 1,514 Fans 39 50 54 50 226 178 Others 70 31 20 31 197 113 Total 558 456 735 456 1,956 1,805
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Capex Overview Plant & Machinery represents addition of machinery primarily for OFR and OTG Tools, Dies & Moulds, represent tooling development for new products Construction towards Bhiwadi facility has commenced in July 2025; expect it to be ready for commercial operations by May 2026, slightly delayed due to pollution control (GRAP) restrictions in NCR 12 INR million Ghaziabad Baddi Goa Total Land & Building 35 0 0 35 Plant & Machinery 98 9 11 117 Electrical Installation 3 0 0 3 Tools, Dies & Moulds 35 24 12 71 Others 11 5 3 18 Total 182 37 26 245
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S No Description 1 Company Overview 2 Q3 FY26 & 9M FY26 Financial Performance & Business Discussion 3 Guidance & Future Outlook Agenda
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FY26 Guidance & Outlook Description Remarks Revenue • Revenue growth of ~9 - 10% over FY25, largely led by the Home Appliances, Fans and Motors segment • Impacted by loss of exports due to tariff situation, now expected to normalize EBITDA • Margin of 5.3 – 5.8% expected • Impacted slightly by loss of higher margin exports business Capex INR 65cr towards Bhiwadi and balance capex of INR 40cr towards scaling up existing business WC days Target 45 - 50 days; Improvement largely led by inventory and payables 13
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Future Growth Drivers 13 Government Policy & Regulations Cost Leadership & Scale Favourable Demographics Make in India thrust BIS norms PLI benefits Cost leadership achieved through economies of scale, focus on R&D and automation and overall operational excellence Higher disposable & discretionary income Rising urbanization levels Focus on convenience
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Thank You