Nature of the Disclosure

This is a comprehensive investor presentation detailing the standalone and consolidated financial and operational performance for the fourth quarter (Q4) and full financial year (FY26) ended March 31, 2026.

Key Quantitative Figures - Standalone (FY26)

  • Net Revenue: ₹1,715.19 Crore (FY25: ₹1,382.93 Crore), representing a growth of 24.03% year-on-year (YoY).
  • Total Expenditure: ₹1,573.76 Crore (FY25: ₹1,257.99 Crore).
  • EBITDA (Excluding other income): ₹141.43 Crore (FY25: ₹124.93 Crore), a growth of 13.20% YoY.
  • EBITDA Margin: 8.25% (FY25: 9.03%), a decrease of 78 basis points.
  • Profit After Tax (PAT): ₹53.83 Crore (FY25: ₹62.26 Crore), a decrease of 13.53% YoY.
  • PAT Margin: 3.14% (FY25: 4.50%).
  • Basic EPS: ₹30.44 (FY25: ₹35.30).
  • Dividend: The Board has recommended a dividend of ₹2.50 per equity share for FY26.

Key Quantitative Figures - Consolidated (FY26)

  • Net Revenue: ₹1,758.38 Crore (FY25: ₹1,418.33 Crore), representing a growth of 23.98% YoY.
  • EBITDA (Excluding other income): ₹147.06 Crore (FY25: ₹133.90 Crore), a growth of 9.83% YoY.
  • EBITDA Margin: 8.36% (FY25: 9.44%), a decrease of 108 basis points.
  • Profit After Tax (PAT): ₹53.77 Crore (FY25: ₹52.46 Crore), an increase of 2.49% YoY.
  • PAT Margin: 3.06% (FY25: 3.70%).
  • Export Contribution: 21% of revenue.

Key Quantitative Figures - Consolidated (Q4 FY26)

  • Net Revenue: ₹474.14 Crore (Q4 FY25: ₹375.73 Crore), representing a growth of 26.19% YoY.
  • EBITDA (Excluding other income): ₹31.26 Crore (Q4 FY25: ₹29.15 Crore).
  • EBITDA Margin: 6.6% (Q4 FY25: 7.76%), a decrease of 117 basis points.
  • Profit After Tax (PAT): ₹10.47 Crore (Q4 FY25: ₹10.92 Crore), a decrease of 4.14% YoY.
  • PAT Margin: 2.21% (Q4 FY25: 2.91%).

Business Segment Mix (FY26)

The company's revenue is diversified across three main segments:

  • Industrial Switchgear: 56.0% of net revenues. This is the core, high-margin anchor business with a ~25% market share in cam-operated rotary switches and an EBITDA margin of ~11%, targeting 13.5%.
  • Wires & Cables: 38.9% of net revenues. A volume-driven business impacted by raw material (copper) volatility, with an EBITDA margin of ~6.5%.
  • Building Electrical Products: 5.1% of net revenues. A niche retail play distributed through a network of over 350 dealers via a tie-up with L&T.

Strategic Updates & Expansion

  • Growth Guidance: Management is on track for >20% YoY revenue growth in FY27 and maintains a long-term vision to double revenue and profitability every 4 years.
  • Margin Roadmap: A clear path to achieve ~10% EBITDA margins by FY27 is outlined, driven by price hikes (implemented Feb-Mar '26), a improved product mix towards higher-value engineered SKUs, and operating leverage.
  • Smart Metering: A manufacturing facility with a 4 million units per annum capacity has been commissioned in Coimbatore. FY26 revenue from this segment was ₹25.45 Crore. Growth in FY27 is expected through a consortium bidding strategy to overcome tender eligibility barriers. A technology partnership with Wirepas (Finland) has been signed for RF mesh technology integration.
  • EV Charging: The company holds a strategic 30% stake in UltraFast Chargers Private Limited, acquired for ₹8 Crore. This business has generated ~₹9 Crore in revenue to date, with a plan to double revenue next year.
  • Energy Management: The company, through its 41.91%-owned SPV Effilume Pvt. Ltd., has secured a ₹192 Crore project from Bruhat Bengaluru Mahanagara Palike (BBMP) for street light management. This project is expected to generate ₹2-2.5 Crore per month in recurring revenue, with commencement delayed to Q1 FY27.
  • International Expansion: A focus on restoring exports to over 25% of the revenue mix. Key strategies include a tariff reset in the US (from 50% to 18%), a zero import duty advantage in the UK, and the targeted commissioning of a local manufacturing plant in Saudi Arabia in June 2026. The company has incorporated a wholly-owned subsidiary, Salzer Electronics Arabia Limited.

Management Update

Mr. Raman Krishnamoorthy was appointed as Chief Financial Officer (CFO) effective April 1, 2026.

Operational Metrics

  • Manufacturing Facilities: Seven units located in Tamil Nadu.
  • Capacity Utilization: Wire & Cable segment at ~65%; Switchgear segment at ~70%.
  • Distribution: 40 international distributors across 50 countries; 350+ domestic dealers via L&T network; 50 direct stockists for modular switches.

Capital Structure & Borrowings

  • Working Capital: ₹503.36 Crore as of FY26.
  • Total Borrowings: ₹183.28 Crore as of FY26, comprising Long Term Borrowings of ₹155.20 Crore and Short Term Borrowings of ₹28.08 Crore.