Expected impact: Screen protector B2C category expected post-BIS mandate (within 30 days); second B2C category launch in Q3 FY27; cover glass customer onboarding in 3-4 quarters.
Strategic Rationale: Leveraging distribution expertise and EMS capabilities to build proprietary B2C portfolio; expanding into high-barrier B2B segments.
Industry Trends & Business Environment
Macro/Industry Trends: Mobile Phone Manufacturing Scheme (PLI 2.0) with ₹625 billion outlay for FY27-FY31; BIS compliance mandate for screen protectors imminent.
Impact: PLI 2.0 expected to drive demand pull, better economics, and value-chain climb; BIS mandate to create B2C category opportunity.
Management Commentary & Growth Outlook
Strategic Outlook: "Leveraging our deep distribution expertise and world-class EMS capabilities, we aim to build a proprietary B2C product portfolio."
FY Guidance: FY27 revenue expected to double; annual growth of over 30% targeted for FY28 and FY29; ₹60 billion revenue target by FY29 (excludes screen protector, cover glass, and new B2C launch).
Market Share Targets: Not specified.
Risks and Opportunities: Exited volatile local-brand contracts; onboarding premium customers for consistent volumes.