Financial Performance (Standalone)

H1FY27 Results (₹ crore):

  • Total Revenue: ₹59.96 (vs. ₹41.15 in H1FY26, +46% YoY)
  • EBITDA: ₹9.18 (vs. ₹8.62 in H1FY26, +6.5% YoY)
  • EBITDA Margin: 15.31% (vs. 20.95% in H1FY26, decline of 564 bps)
  • Profit Before Tax: ₹1.81 (vs. ₹6.21 in H1FY26, -71% YoY)
  • Profit After Tax: ₹2.56 (vs. ₹4.35 in H1FY26, -41% YoY)

EBITDA calculated as profit before tax plus finance costs and depreciation.

Operational Highlights

Manufacturing Expansion:

  • Mysuru manufacturing facility expanded from approximately 15,000 sq. ft. to 55,000 sq. ft.
  • Manufacturing infrastructure increased by approximately 3.7x
  • Facility is now fully operational

Regulatory Certification:

  • Received MTCTE certification in November 2026 for three professional Digital Mobile Radio (DMR) models
  • Certified models: CP-721, CM711, and CR777
  • CWD identified as the original equipment manufacturer (OEM)
  • India identified as the country of manufacture

Business Segment Updates

Sound Box:

  • Continued execution of existing customer programs
  • Strengthened manufacturing capabilities and improved production efficiencies
  • Temporary lower volumes from one key customer preparing to introduce new product
  • Expects business to resume in H2FY27 at higher scale

Enterprise IoT and Warehouse Monitoring (WMS):

  • Continued development of warehouse and environmental monitoring solutions
  • Targeting enterprise, logistics, and industrial customers
  • Extending connected-device expertise into new end-markets

Wireless Communication:

  • Expanding presence in professional communication equipment including walkie-talkies and DMR products
  • Technology-intensive, higher-value category
  • Significant import-substitution opportunity in India

Domestic Manufacturing Strategy:

  • Prioritizing products with import-substitution potential
  • Focus on higher technology content and greater domestic value addition
  • Aligned with Make in India and Atmanirbhar Bharat initiatives

Management Commentary

Management stated that H1FY27 was about building foundations while H2FY27 will be about delivering results. The company grew revenue by 46% while putting in place infrastructure for next phase of growth including expanded manufacturing facility, new product lines, and regulatory certifications.

Financial Guidance

Revenue Outlook:

  • H2FY27 Revenue Guidance: Approximately ₹250 crore
  • Full Year FY27 Revenue Guidance: Approximately ₹300 crore

Margin Outlook:

  • Expects significant improvement in margins in H2FY27
  • Driven by richer mix of higher-margin products including professional communication equipment and enterprise IoT solutions
  • Operating leverage expected to improve with increased production volumes and higher utilization of expanded facility

H2FY27 Priorities

1. Accelerating customer programmes including prioritising delivery schedules, component procurement, and production planning

2. Converting professional communication opportunity using newly certified DMR portfolio

3. Raising manufacturing utilization at expanded Mysuru facility

4. Strengthening operating efficiency including procurement planning and working-capital discipline

5. Growing share of higher-value products through continued investment in product development

Forward-Looking Statements Disclaimer

The press release contains forward-looking statements subject to risks and uncertainties including customer demand, order execution, regulatory approvals, supply-chain conditions, and capacity utilization. MTCTE certification is product-specific and does not assure commercial orders or future revenue.