Sahasra Electronic Solutions Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 16 Jul 2026 | Industrial Products | Market Cap: ₹781 Cr
Sahasra Electronic Solutions expects growth driven by both domestic and export markets. EBITDA margins for the semiconductor business are expected initially at 16%-18%, potentially rising to 20% or more as volume increases.
From Sahasra Electronic Solutions Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹323
Market Cap
₹781 Cr
P/E Ratio
55.0
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📊 Revenue & Sales Performance
- →Sahasra Electronic Solutions expects growth driven by both domestic and export markets.
- →ESMT business aims to maintain healthy EBITDA margins (~16%) and sustain PAT margins around 15-16%.
- →Semiconductor business EBITDA expected at 16-18%, with potential rise above 20% as volumes increase.
- →eSIM manufacturing contract signed; mass production starting March-April next year with estimated 5-10 million units annually, revenue potential INR 20-25 crores.
- →Memory business growth driven by AI demand causing price increase; packaging volumes being ramped up.
- →New SMT lines (high-speed) being installed with modular capacity of 150,000 and 100,000 CPH to meet large volume projects.
- →Merger of group companies expected to drive integrated growth and improve margins.
- →Revenue guidance for FY26 is INR 130 crores, with H1 achieving INR 58.16 crores and expectation of stronger H2.
- →Targeting balanced export share of 50%+ to capitalize on better margins internationally.
- →Capex of INR 200 crores planned under India Semiconductor Mission 2.0 with 50% govt grant and balance funding via promoter contribution and debt.
📈 Profitability & Margins
- →EBITDA margins for the semiconductor business are expected initially at 16%-18%, potentially rising to 20% or more as volume increases.
- →PAT margins for the semiconductor business anticipated around 8%-10% in the initial years.
- →EMS (SMT) business maintains a healthy EBITDA margin of around 15%-16%, with PAT margin close to 15%.
- →Growth in EMS business profitability is expected with export focus, targeting over 50% export share to mitigate lower domestic margins.
- →Semiconductor subsidiary revenues projected to rise to around INR 50 crores in FY27 with ramp-up in production, particularly in eSIM and memory segments.
- →Long-term capex plans (INR 200 crores) supported by government grants (India Semiconductor Mission Scheme 2.0), expected to boost future earnings.
- →Overall, management expects steady revenue growth and profitability improvement with integration of group companies and new high-volume projects.
🏗️ Capital Expenditure Plans
- →Phase two capex for semiconductor business is planned at around INR 200 crores.
- →Funding plan: INR 100 crores expected as a grant under the India Semiconductor Mission (ISM) Scheme 2.0 (50% grant for packaging and advanced packaging), INR 50 crores from internal accruals, and INR 50 crores from debt financing.
- →ISM 2.0 scheme details and approvals expected by end December or early next financial year; activities projected to start in the second or third quarter of next calendar year.
- →Investment includes two new high-speed SMT lines with five modules (total capacity: 250,000 CPH) and a fully automated conformal coating line.
- →Capex is aligned with plans for scaling semiconductor packaging, eSIM, memory, and LED verticals.
💰 Fundraising & Capital Structure
- →No further equity dilution is planned; the company intends to avoid raising funds through equity at this stage.
- →For planned capex of INR200 crores (Phase Two of the ATM project), funding is expected through:
- → - INR100 crores grant from the upcoming India Semiconductor Mission Scheme 2.0 (pending government approval).
- → - INR50 crores from internal accruals of the listed company (promoter contribution).
- → - INR50 crores through bank debt financing.
- →The company is currently reviewing funding and investment decisions in line with business conditions and government scheme approvals; no immediate fundraising activity has been committed.
📋 Order Book & Pipeline
- →The order book currently appears healthy enough to maintain momentum in the business.
- →Focus is on executing existing orders, with new projects such as opto sensor assemblies for a UK company, Solstor, underway.
- →Projected revenue for FY26 is INR130 crores, with INR58.16 crores achieved in H1, indicating expectation of better performance in H2.
- →Semiconductor business for FY26 expected revenue is around INR50 crores.
- →Mass production for eSIM business expected to start from March-April 2026, potentially increasing order volume.
- →Large volume projects targeted in the EMS (SMT) business with capacity expansion planned.
- →Export orders expected to maintain a healthy share of 50% and above, contributing to order stability and growth.
Key Metrics
Frequently Asked Questions
What were Sahasra Electronic Solutions Ltd Q2 FY26 results?
Sahasra Electronic Solutions expects growth driven by both domestic and export markets. EBITDA margins for the semiconductor business are expected initially at 16%-18%, potentially rising to 20% or more as volume increases.
What is Sahasra Electronic Solutions Ltd share price analysis?
Sahasra Electronic Solutions Ltd currently shows a neutral. The stock trades at a P/E of 55.0 with a market cap of ₹781 Cr. Investors should review the full earnings analysis for detailed insights.
Is Sahasra Electronic Solutions Ltd planning capital expenditure?
Phase two capex for semiconductor business is planned at around INR 200 crores.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.