IKIO Technologies Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript IKIO Technologies Ltd filed with BSE on 14 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
IKIO Technologies reported Q1 FY27 revenue growth of 41% year-on-year to Rs 169 crores, driven by 53% growth in the other business segment and 16% growth in home lighting ODM. EBITDA rose 94% year-on-year to Rs 22 crores with margin improving to 13% from 9.4%, while PAT increased to Rs 11 crores from Rs 2 crores in the same quarter last year. Management attributed sequential margin pressure to higher raw material prices from war-led supply chain disruptions and higher employee expenses following minimum wage revisions.
Numbers mentioned
Revenue from operations: Rs 169 crores (Q1 FY27)
p. 4
“The revenue from operations grew 41% year-on-year to Rs.169 crores in Q1 FY’27, supported by continued momentum across our diversified business portfolio.”
Sanjeet Singh, page 4 of the filed PDF · View the filing
Other business revenue: Rs 124 crores (Q1 FY27)
p. 4
“This momentum continued in Q1 FY’27, with revenue growing 53% year-on-year to Rs. 124 crores, driven by continued traction from new customers and across our expanding product portfolio.”
Sanjeet Singh, page 4 of the filed PDF · View the filing
Home lighting ODM revenue: Rs 45 crores (Q1 FY27)
p. 4
“At the same time, our home lighting ODM business continued to improve, with revenue of Rs. 45 crores in Q1 FY’27, up 16% year-on-year and 18% Q-on-Q, reflecting improving business momentum and new customer additions.”
Sanjeet Singh, page 4 of the filed PDF · View the filing
EBITDA: Rs 22 crores (Q1 FY27)
p. 4
“EBITDA increased 94% year-on-year to Rs.22 crores, with EBITDA margin improving to 13% from 9.4% in Q1 of last year.”
Sanjeet Singh, page 4 of the filed PDF · View the filing
PAT: Rs 11 crores (Q1 FY27)
p. 4
“PAT increased to Rs. 11 crores from Rs.2 crores in the same quarter last year.”
Sanjeet Singh, page 4 of the filed PDF · View the filing
ODM EBITDA margin: 8.4% (Q1 FY27)
p. 11
“Yes. No, not for the last year, that 8.5% is for this quarter. 8.4% to be precise is for this quarter.”
Sanjeet Singh, page 11 of the filed PDF · View the filing
Hearable and wearable contribution to topline: 15% to 16% (Q1 FY27)
p. 13
“If I talk of, the overall top line, we are doing somewhere close to around, maybe around 15% to 18%, it’s around 15%-16% is coming from hearable wearable.”
Sanjeet Singh, page 13 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue growth — 18%-20% · FY27
stated firmly by Sanjeet Singh
p. 16
“So, I would stick to the guidance that we had given during quarter 4, which was close to around 18%-20% of growth in the revenue.”
Sanjeet Singh, page 16 of the filed PDF · View the filing
Group EBITDA margin — 13%-14% · FY27
stated conditionally by Sanjeet Singh
p. 11
“I told them that it is going to be around 13%-14% where we are in line with what we had thought of.”
Sanjeet Singh, page 11 of the filed PDF · View the filing
EBITDA margin at peak utilization — 17% to 18%
stated conditionally by Sanjeet Singh
p. 7
“So, that is why the feasible or practical number that we can think of is somewhere close to around 17% to 18%.”
Sanjeet Singh, page 7 of the filed PDF · View the filing
Asset turn recovery to pre-IPO levels — 3-3.5 years
stated conditionally by Sanjeet Singh
p. 7
“So, if things sort of stabilize and remain clear for the next maybe 2 to 2.5 years, so we expect that to happen within the next maybe 3-3.5 yearsis what we are targeting.”
Sanjeet Singh, page 7 of the filed PDF · View the filing
Home lighting ODM full year revenue — Rs 170 crores · FY27
stated conditionally by Sanjeet Singh
p. 11
“Broadly 170. Give or take maybe an uptick of Rs. 10-15 crores is probably on the charts, but we will see how it goes.”
Sanjeet Singh, page 11 of the filed PDF · View the filing
Honeywell SKU count — 3 to 4x · by end of this year
stated conditionally by Sanjeet Singh
p. 14
“and we expect that going forward the SKUs will probably by the end of the year should go up by 3 to 4x before the end of this year, where I mean the number of SKUs that we are producing right now.”
Sanjeet Singh, page 14 of the filed PDF · View the filing
OEM onboarding in automotive lighting — FY28
stated as an aspiration by Sanjeet Singh
p. 14
“That is what the plan is. You know, that is what we intend to do.”
Sanjeet Singh, page 14 of the filed PDF · View the filing
Gross margin sustainability — 41%
stated conditionally by Sanjeet Singh
p. 8
“But looking at the scenario today and where the prices are today, they are not a normal range. But even if where they are today, we should be able to maintain these gross margins.”
Sanjeet Singh, page 8 of the filed PDF · View the filing
Capex — Rs 20-25 crores · FY27
stated firmly by Sanjeet Singh
p. 16
“So, CAPEX spending is, I think, somewhere close to around Rs. 20-25 crores, not much of the CAPEX is left.”
Sanjeet Singh, page 16 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said margins are in line with guidance but would have been better without geopolitical pressures, and described spot-buying strategies similar to COVID-era responses.
Answered by Sanjeet Singh
Asked by Mayank Agarwal: How do you see margin trajectory once geopolitical headwinds normalise and operating leverage kicks in?
p. 5
“So, on the margin trajectory, we are actually still I would say in line to what we had guided for the year.”
Sanjeet Singh, page 5 of the filed PDF · View the filing
Management attributed the dip to volatile metal and semiconductor pricing and extended component lead times due to geopolitical tensions.
Answered by Sanjeet Singh
Asked by Harsh Pingle: Why did gross margin dip from 44%-45% to 41%?
p. 7
“So, the gross margins like I’ve been talking about the gross margin because of the geopolitical tensions.”
Sanjeet Singh, page 7 of the filed PDF · View the filing
Management said Q1 is seasonally the leanest quarter and that year-on-year comparison shows growth rather than decline.
Answered by Sanjeet Singh
Asked by Harsh Pingle: Is the dip in other business revenue seasonal or war-related?
p. 8
“So, Quarter 1, generally in our case, is always one of the leanest quarters.”
Sanjeet Singh, page 8 of the filed PDF · View the filing
Management confirmed ODM contributed roughly Rs 3.8-4 crores of the Rs 22 crore EBITDA, implying about 15% margin in the other business.
Answered by Ankur Gulati
Asked by Ankur Gulati: Can you break down the other business EBITDA margin versus ODM?
p. 12
“3.8 out of that is ODM, which will be Rs. 3.8 crores. So, your other business is 15% EBITDA?”
Ankur Gulati, page 12 of the filed PDF · View the filing
Management said it would stick to the previously given 18%-20% growth guidance given market volatility, with a possible update later in the year.
Answered by Sanjeet Singh
Asked by Ankur Gulati: Given stronger segment growth trends, will the company raise its full-year revenue guidance?
p. 16
“So, I would stick to the guidance that we had given during quarter 4, which was close to around 18%-20% of growth in the revenue.”
Sanjeet Singh, page 16 of the filed PDF · View the filing
Management said Honeywell trust has grown with more products in the pipeline, and automotive lighting has begun actual production with five leading aftermarket brands.
Answered by Sanjeet Singh
Asked by Ankur Gulati: What is the update on Honeywell and automotive lighting client relationships?
p. 14
“So, a lot is happening in the background for this category as well.”
Sanjeet Singh, page 14 of the filed PDF · View the filing
Risks flagged
Geopolitical tensions disrupting raw material pricing and component lead times
p. 5
“The problem with the gross margins today is we are in times which I would say is similar to what happened during COVID because lead times have gone up like anything.”
Sanjeet Singh, page 5 of the filed PDF · View the filing
Semiconductor lead times extending significantly
p. 8
“So, semiconductor prices have gone up. They’ve actually doubled in certain cases, more than doubled and back to with 5x-6x higher lead times than where they wereat one point in time.”
Sanjeet Singh, page 8 of the filed PDF · View the filing
Decline in Middle East/Gulf business due to war situation
p. 11
“The only area where we could not see the growth or there was some decline in the revenue was from the UAE business, the Middle East or the Gulf business.”
Sanjeet Singh, page 11 of the filed PDF · View the filing
Potential further escalation of war affecting gross margins
p. 8
“unless there is something which is, the war escalates or there are more countries getting involved, something like that. If that happens, then it’s going to be a different story.”
Sanjeet Singh, page 8 of the filed PDF · View the filing
Lost business opportunity in other segments due to war situation
p. 9
“So, I would say that we missed an opportunity of close to around at least Rs. 10 to Rs. 15 crores of business that could have been possible if the situation would have been normal.”
Sanjeet Singh, page 9 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.