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Centum Electronics
SectorCapital Goods
The Quarter story
The two most recent quarterly results, compared side-by-side.
Centum Electronics shows strong valuation growth and margin expansion despite a major restructuring in consolidated revenue and order book.
Market Capitalization grew from ₹35,190.54 Cr to ₹55,798.31 Cr from Q1 FY26 to Q1 FY27 — strong valuation appreciation
Consolidated Revenue dropped from ₹2,734 Cr to ₹100 Cr from Q1 FY26 to Q1 FY27 — major business restructuring
EBITDA Margin expanded from 8.38% to 11.28% from Q1 FY26 to Q1 FY27 — improved pricing power
Consolidated Order Book fell from ₹17,601 Cr to ₹18 Cr from Q1 FY26 to Q1 FY27 — significant pipeline reset
EMS Order Book grew from ₹7,107 Cr to ₹8,718 Cr from Q1 FY26 to Q1 FY27 — robust manufacturing demand
Europe & UK Revenue Share declined from 52% to 23% from Q1 FY26 to Q1 FY27 — geographic mix shift
DII Holding increased from 15.69% to 19.67% from Q1 FY26 to Q1 FY27 — sustained domestic institutional interest
Operational Revenue decreased from ₹2,734 Cr to ₹2,048 Cr from Q1 FY26 to Q1 FY27 — project cycle transition
Total Expenses fell from ₹2,505 Cr to ₹1,805 Cr from Q1 FY26 to Q1 FY27 — effective cost optimization
Public Holding slipped from 32.79% to 30.20% from Q1 FY26 to Q1 FY27 — retail investor rotation
Company insights, generated from the most recent coverage.
Trades at 41.9x EV/EBITDA, converging with Cyient DLM despite negative ROE and higher working capital intensity (142 days). Valuation reflects optionality on high-margin BTS programs (HAL AESA Radar) but is capped by subsidiary restructuring risks and lumpy revenue recognition.
Tactical air navigation systems offer ₹500-600 crore opportunity over 5 years across multiple shipbuilders (MDL, GSL, HSL), expanding from initial GRSE order.
New aerospace systems integration facility at KIADB Aerospace Park Bengaluru signals capacity expansion for growing defence and space programs.
