• The document is a transcript of the Q2 FY27 Earnings Conference Call held on October 27, 2026, hosted by Arihant Capital Markets Limited, to discuss financial results for the quarter and half year ended September 30, 2026.
  • Management participants included Mr. Amit Rambhia (Managing Director), Mr. Nitesh Savla (CFO & Whole-Time Director), Mrs. Neha Madiar (GM-R&D), and Mr. Sanjeev Sancheti (Head, Uirtus Advisors, IR Advisor).
  • The company provided a detailed business overview, highlighting its evolution from desktop manufacturing (starting as Vardhaman Computers in 2000) to a design-led technology solutions and ESDM company with capabilities in product design, engineering, systems integration, manufacturing, and lifecycle management.
  • Financial performance for Q2 FY27: Revenue from operations grew 231.8% YoY and 154.9% QoQ to INR 129.6 CR. Operating EBITDA increased 293.5% YoY to INR 12.4 CR with margin expansion of 313 bps to 9.6%. PAT surged 450.8% YoY to INR 7.7 CR with PAT margin improving 234 bps to 5.9%.
  • H1 FY27 performance: Revenue rose 163.0% YoY to INR 180.4 CR. Operating EBITDA grew 296.5% to INR 17.6 CR with margin improvement of 328 bps to 9.7%. PAT increased 407.8% to INR 11.5 CR with PAT margin up 304 bps to 6.3%.
  • Business verticals include: Smart and Secure Computing (AI PCs, laptops, servers), Education Technology (interactive flat panels, tablets), AV and Displays (video conferencing, digital signage), Telecom Solutions (routers, 4G/5G devices), Medical Devices (computing platforms, IoT gateways), and Digital Surveillance (CCTV, AI-enabled NVRs).
  • Business models: Contract-Led Manufacturing (CLM with 3-7% margins) and Design-Led Manufacturing (DLM with 5-20% margins). H1 FY27 revenue split was approximately 60% CLM and 40% DLM.
  • Key developments: Secured a significant 36-month telecom project through subsidiary Panache Newage Technology involving end-to-end services. Received Intel Innovation and Excellence Award at Industry Solutions Builder Connect 2026.
  • Balance sheet highlights (as of September 30, 2026): Net worth of INR 117 CR, total borrowings of INR 33.9 CR, cash and equivalents of INR 9.7 CR, net debt of INR 24.1 CR, net debt-to-operating EBITDA ratio of 0.69x. Cash conversion cycle improved to 68 days (from 83 days in FY26). Annualized H1 FY27 ROCE was 25.8% and ROE was 20.7%.
  • The company indicated no unpublished price sensitive information (UPSI) would be shared during the call.

Additional Notes Section

  • The transcript was submitted to the National Stock Exchange of India Limited pursuant to Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  • The intimation is available on the company's website at www.panachedigilife.com.
  • The document contains detailed financial data and operational updates as presented in the earnings call.
  • Management discussed capacity utilization (approximately 40% spare capacity available), supply chain relationships, global expansion plans through Quantron (Hong Kong subsidiary), and potential CAPEX investments in subsidiary Technofy.