Financial Performance Highlights (Consolidated)

Quarterly Comparison (Q1 FY27 vs Q1 FY26 vs Q4 FY26)

  • Net Revenue: ₹498.02 crore in Q1 FY27 vs ₹441.12 crore in Q1 FY26 (12.90% YoY growth) vs ₹474.14 crore in Q4 FY26 (5.03% QoQ growth)
  • EBITDA (excluding other income): ₹31.32 crore in Q1 FY27 vs ₹41.76 crore in Q1 FY26 (25.01% decline) vs ₹31.26 crore in Q4 FY26 (0.17% growth)
  • EBITDA Margin: 6.29% in Q1 FY27 vs 9.47% in Q1 FY26 (318 basis points decline) vs 6.59% in Q4 FY26 (31 basis points decline)
  • Profit After Tax (PAT): ₹8.33 crore in Q1 FY27 vs ₹17.22 crore in Q1 FY26 (51.60% decline) vs ₹10.47 crore in Q4 FY26 (20.42% decline)
  • PAT Margin: 1.67% in Q1 FY27 vs 3.90% in Q1 FY26 (223 basis points decline) vs 2.21% in Q4 FY26 (54 basis points decline)
  • Basic EPS: ₹4.55 in Q1 FY27 vs ₹9.74 in Q1 FY26 (53.29% decline) vs ₹5.81 in Q4 FY26 (21.69% decline)

Business Division Performance (Q1 FY27)

Industrial Switchgear Division (53.58% of total revenue)

  • Products: Toroidal Transformers, Three phase transformers, Rotary Switches, Isolators, General Purpose relays, Wire Harness, Wiring Ducts, MPCB's, Contactors & OLR's, Control Panels, Terminal Blocks, Sensors
  • Growth: 10.33% YoY
  • EBITDA Margin: 7.50%

Wire & Cables Division (40.30% of total revenue)

  • Products: Wires & Cables, Flexible Bus Bars, Enamelled Wires, Bunched Conductors, Tinned Copper Wires
  • Growth: 11.07% YoY
  • EBITDA Margin: 5.18%

Building Products Division (6.12% of total revenue)

  • Products: Modular Switches, Wires & Cables, MCB's Distribution Boards, Changeovers
  • Growth: 48.03% YoY

Export Contribution: 18.60% of total revenue

Recent Developments During Quarter

Investment in Subsidiary:

  • Additional investment of ₹13.25 lakh in Salzer EV Infra Private Limited (wholly owned subsidiary)
  • Acquired 1,32,525 equity shares of ₹10 each
  • Total investment now stands at ₹93.21 lakh

Investment in Associate Company:

  • Additional investment of ₹168.64 lakh in Effilume Private Limited (associate company)
  • Subscribed to 16,86,399 Equity Shares of ₹10 each
  • Total investment now stands at ₹423.97 lakh
  • Equity stake increased to 46.85%

Management Commentary

Mr. Rajesh Doraiswamy, Joint Managing Director, attributed margin pressure to elevated raw material costs, particularly copper, silver, and aluminium, amid continued volatility in global commodity markets. These materials are key inputs across the switchgears business, including transformers and contactors. The company is addressing these pressures through sourcing efficiencies, product mix optimisation, operational improvements and calibrated pricing measures.

Management remains optimistic on long-term opportunities from industrial automation, energy efficiency, smart infrastructure, renewable energy integration, railways, data centres, and smart electrical ecosystems.

Company Profile

Salzer Electronics is a capital goods engineering company offering total and customized electrical solutions in Switchgears, Wires & Cables, and Energy Management business. It is the largest manufacturer of CAM Operated Rotary switches & Wire Ducts in India with four in-house manufacturing facilities in Coimbatore. The company has a wide distribution network locally and globally, exporting to many countries, and markets products through its own distributors and more than 350 local distributors of L&T.