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Optiemus Infra: EMS growth powers mid-cap play
Optiemus Infracom delivered strong FY26 results with 15% revenue growth, but valuations at P/E 42.5 price in high expectations.
In brief
Optiemus Infracom delivered strong FY26 results with 15% revenue growth, but valuations at P/E 42.5 price in high expectations. Optiemus is a diversified telecom and electronics manufacturer with solid fundamentals and promoter backing, but expensive valuations reflect growth already priced in. Originally reported by…
Optiemus: diversified telecom and EMS player
Gurugram-based Optiemus Infracom operates across telecom distribution, mobile handset manufacturing, electronics, and infrastructure services. The company partners with global brands and manufactures electronics under the Make in India initiative.
FY26 shows strong growth across metrics
Revenue grew 15.3% to 3,242 crore, net profit jumped 16.5% to 212 crore, and EBITDA margin expanded 70 basis points to 14.3%. EPS rose 16.8% to 14.25 rupees.
Promoter backing and dividend payouts
Ashok Gupta and family hold 74.6% with no pledges, providing strong stability. The company declared a dividend of 2.50 rupees per share for FY26.
Strategic expansion in EMS and IoT
Optiemus is investing in electronics manufacturing services facilities and smartphone assembly plants. The company is also diversifying into IoT devices and telecom infrastructure.
Valuation concerns despite solid performance
At 605 rupees, the stock trades at a P/E of 42.5 and P/B of 4.3, reflecting expensive valuations. High smartphone demand cycles and import cost volatility pose risks.
Competitive landscape and balance sheet
Optiemus faces competition from Dixon Technologies, Amber Enterprises, and Foxconn India. The company maintains moderate leverage with debt-to-equity of 0.42 and market cap of 6,200 crore.
The takeaway
Optiemus is a diversified telecom and electronics manufacturer with solid fundamentals and promoter backing, but expensive valuations reflect growth already priced in.
