Salzer Electronics Ltd (SALZERELEC) Q3FY26 Management Mirror - Dec-2025 Qtr
Financial Outlook & Revenue Guidance
Reaffirmed: Management maintained its revenue growth guidance of ~20% for FY26 and projected similar 20% growth for FY27 for the core business (excluding smart meters).
Modified: The specific revenue target for smart meters has seen significant downward revision and eventual removal from specific near-term guidance.
Dec'24 Qtr: Projected FY26 smart meter revenue of INR 600-700 crores (lowered from an earlier INR 900 crore view).
Jun'25 Qtr: Lowered expectations further, hoping for INR 300-400 crores in FY26 pending execution.
Dec'25 Qtr: Declined to provide specific revenue guidance for smart meters for FY27 due to past delays, focusing instead on execution of the existing order book.
7 more themes on the ELITE plan.