Virtuoso Optoelectronics Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,734 Cr
- P/E
- 98.51
- ROE
- 4.54%
- PEG
- 3.70
- Price to sales
- 1.71
- Debt to equity
- 0.81
- 52W high / low
- ₹580 / ₹242
- Sales growth (5Y)
- 48.59%
- EBITDA margin
- 9.28%
- Net profit margin
- 1.89%
- Promoter holding
- 46.22%
- Sales (last year)
- ₹1,008 Cr
Incorporated in 2015, Virtuoso Optoelectronics Ltd is a manufacturer of White Goods and also offers Electronics Manufacturing Services[1]
Guidance scorecard · Q1 FY27 call
What Virtuoso Optoelectronics Ltd's management guided
and where it ranks in Consumer Durables
Consumer Durables
RevenueQ1 FY27 call
20–40%- Targeting 35-40% revenue growth for FY27 and next three years, driven by industry growth and expanded capacity.
- Expect utilization of 50-60% for expanded AC capacity (1.8 million units) in FY28.
- Peak revenue potential with current infrastructure around INR 3,500-4,000 crores after capacity expansion.
- Compressor segment capacity to increase from 2.8 million to 6 million units by December/January, targeting 75%+ capacity utilization next year.
- Revenue share from AC expected to remain near 60% in the short term, with diversification into EMS, compressors, and commercial refrigeration increasing non-AC contribution to approx. 40%.
- Seasonal nature limits immediate capacity utilization over 60-65% in AC/refrigeration but expected to improve gradually.
2 more points from Virtuoso Optoelectronics Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Virtuoso Optoelectronics Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Total CapEx planned for FY27 is between INR 80 crore and INR 100 crore.
- Commercial refrigeration CapEx for FY27 is INR 20 crore to INR 25 crore, with a similar amount planned for FY28 to achieve 400,000 capacity.
- Compressor project total CapEx including scaling up and backward integration is around INR 500 crore; INR 150 crore raised through debt (OCDs) so far, with remaining funding decision (debt/equity) to be made within 12 months.
- Expansion and capacity increase tied up for next 12 months; further expansions depend on utilization and market conditions.
2 more points from Virtuoso Optoelectronics Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Virtuoso Optoelectronics Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- VOEPL has good visibility of an order book in the AC segment with plans to increase capacity to meet customer requirements and satisfy current customers.
- For the AC segment, utilization of 50%-60% of expanded capacity is expected in FY28, supported by existing customer commitments and onboarding new customers.
- Compressor segment is scaling up capacity with ongoing investments, working with 8-9 customers across the industry.
- Revenue share from AC segment is expected to remain around 60% in the near term, with other segments like EMS and compressors growing.
2 more points from Virtuoso Optoelectronics Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Consumer Durables
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Consumer Durables companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹166 Cr | 20.3 | |
| 2 | 40%+ | Up 2%+ | ₹100 Cr | 12.7 | |
| 3 | 40%+ | Up 0–2% | ₹3,249 Cr | 17.4 | |
| 4 | 40%+ | Up 0–2% | ₹2,081 Cr | 18.8 | |
| 5 | 40%+ | Flat | ₹2,429 Cr | 41.1 | |
| 6 | 40%+ | Flat | ₹2,163 Cr | 25.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables rankingVirtuoso Optoelectronics Ltd announcements
All announcements →- Board / shareholder meeting outcomeNotableVirtuoso Optoelectronics holds EGM on September 24, 2026, via VC/OAVM
Financials of Virtuoso Optoelectronics Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Virtuoso Optoelectronics Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Jun 2022 | Mar 2023 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|
| Sales + | 73.82 | 224.74 | 239.82 | 201.89 | 97.07 | 204.55 |
| Expenses + | 63.24 | 206.90 | 221.10 | 182.38 | 86.23 | 181.80 |
| Operating Profit | 10.58 | 17.84 | 18.72 | 19.51 | 10.84 | 22.75 |
| OPM % | 14.33% | 7.94% | 7.81% | 9.66% | 11.17% | 11.12% |
| Other Income + | 0.18 | -0.36 | 0.89 | 0.93 | 0.60 | 0.21 |
| Interest | 2.62 | 8.34 | 8.44 | 7.58 | 7.84 | 7.16 |
| Depreciation | 2.41 | 4.82 | 3.38 | 4.04 | 4.62 | 5.30 |
| Profit before tax | 5.73 | 4.32 | 7.79 | 8.82 | -1.02 | 10.50 |
| Tax % | 27.92% | 36.81% | 68.42% | 25.51% | 224.51% | 32.86% |
| Net Profit + | 4.12 | 2.73 | 2.46 | 6.58 | -3.31 | 7.05 |
| EPS in Rs | 2.75 | 1.20 | 0.83 | 2.23 | -1.09 | 2.28 |
Financials of Virtuoso Optoelectronics Ltd
Profit & Loss
Annual income statement trend
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 55 | 68 | 115 | 200 | 337 | 531 | 697 | 743 |
| Expenses + | 52 | 60 | 103 | 180 | 304 | 480 | 641 | 672 |
| Operating Profit | 3 | 8 | 12 | 20 | 34 | 51 | 56 | 72 |
| OPM % | 5% | 12% | 11% | 10% | 10% | 10% | 8% | 10% |
| Other Income + | 0 | 0 | 0 | 0 | 1 | 1 | 5 | 3 |
| Interest | 2 | 5 | 7 | 9 | 14 | 20 | 25 | 31 |
| Depreciation | 0 | 1 | 2 | 5 | 9 | 18 | 10 | 17 |
| Profit before tax | 1 | 2 | 3 | 6 | 11 | 14 | 25 | 26 |
| Tax % | 39% | 27% | 28% | 31% | 31% | 29% | 44% | |
| Net Profit + | 1 | 1 | 2 | 4 | 8 | 10 | 14 | 13 |
| EPS in Rs | 3.60 | 8.47 | 12.50 | 2.63 | 3.40 | 3.85 | 4.79 | 4.25 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Virtuoso Optoelectronics Ltd
Balance Sheet
Capital structure and asset base
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 15 | 23 | 26 | 29 | 30 |
| Reserves | 3 | 10 | 15 | 6 | 71 | 183 | 252 | 320 |
| Borrowings + | 17 | 39 | 51 | 68 | 88 | 135 | 171 | 202 |
| Other Liabilities + | 5 | 7 | 12 | 36 | 95 | 111 | 157 | 137 |
| Total Liabilities | 26 | 57 | 80 | 126 | 276 | 455 | 611 | 689 |
| Fixed Assets + | 5 | 11 | 18 | 50 | 88 | 130 | 201 | 279 |
| CWIP | 0 | 8 | 9 | 0 | 6 | 7 | 48 | 46 |
| Investments | 0 | 0 | 0 | 1 | 10 | 100 | 42 | 26 |
| Other Assets + | 21 | 38 | 53 | 74 | 172 | 218 | 319 | 338 |
| Total Assets | 26 | 57 | 80 | 126 | 276 | 455 | 611 | 689 |
Financials of Virtuoso Optoelectronics Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 2 | -6 | 1 | 22 | -10 | 14 | 32 |
| Cash from Investing Activity + | -5 | -16 | -10 | -30 | -63 | -150 | -92 |
| Cash from Financing Activity + | 3 | 21 | 8 | 9 | 72 | 136 | 63 |
| Net Cash Flow | 1 | -1 | -0 | 1 | -0 | -0 | 2 |
| Free Cash Flow | -3 | -21 | -9 | -7 | -63 | -47 | -123 |
| CFO/OP | 93% | -66% | 12% | 114% | -23% | 31% | 65% |
Financials of Virtuoso Optoelectronics Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 75 | 106 | 34 | 16 | 28 | 15 | 16 |
| Inventory Days | 53 | 94 | 137 | 134 | 182 | 138 | 135 |
| Days Payable | 34 | 43 | 37 | 64 | 114 | 82 | 83 |
| Cash Conversion Cycle | 95 | 157 | 134 | 86 | 96 | 70 | 67 |
| Working Capital Days | 33 | 34 | 37 | -2 | 35 | 24 | 20 |
| ROCE % | 19% | 18% | 19% | 18% | 13% | 13% |
Guidance history
How Virtuoso Optoelectronics Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q4 FY26 call → | 20–40% | Up 0–2% | Planned | Planned | Rising |
| Q3 FY26 call → | 20–40% | Flat | Planned | Planned | Rising |
| Q2 FY26 call → | 10–20% | Flat | Planned | None planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
34 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −4.9% | 55% |
| Last 6 months | +28.3% | 79% |
| Last 3 months | +2.9% | 68% |
The price is 22.6% below its all-time high of ₹623.85 (17 Jan 2025). Stocks more than 20% below their peak have their score halved, so 67 became 34.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Virtuoso Optoelectronics Ltd: 0.4 × 55 + 0.4 × 79 + 0.2 × 68 = 67, halved to 34 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Virtuoso Optoelectronics Ltd's management said in earlier quarters
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