Earning call transcript

November 09, 2026 To To BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra (East), Dalal Street Mumbai 400001 Mumbai 400 051 Scrip Code - 543597 Scrip Code - VOEPL Subject - Transcript for Q2 & H1 FY 2027 Post Earnings Conference Call held on November 06, 2026. Dear Sir/Madam, With respect to above captioned subject, please find attached herewith transcript of the Conference Call for Analyst and Investors held for Q2 & H1 FY 2027 on November 06, 2026 at 12.15 P.M. IST. Thanking you, Yours Faithfully, For Virtuoso Optoelectronics Limited Prasad Zinjurde Company Secretary and Compliance Officer M No A54800 Virtuoso Optoelectronics Limited Q2 & H1 FY27 POST EARNINGS CONFERENCE CALL November 6, 2026 12.15 PM IST Management Team Sukrit Bharati - Managing Director Sajid Shaikh - Chief Financial Officer Call Coordinator Strategy & Investor Relations Consulting Virtuoso Optoelectronics Limited (VOEPL) Q2 & H1 FY27 Post Earnings Conference Call November 6, 2026 12.15 PM IST Presentation Vinay Pandit: Ladies and gentlemen, on behalf of Kaptify Consulting Investor Relations team, I welcome you all to the Q2 and H1 FY27 Post Earnings Conference Call of Virtuoso Optoelectronics Limited. Today on the call from the management team, we have with us Mr. Sajid Shaikh, Managing Director, and Mr. Sajid Shaikh, Chief Financial Officer. As a disclaimer, I would like to inform all of you that this call may contain forward-looking statements which may involve risk and uncertainties. Also, a reminder that this call is being recorded. I would now request the management to brief us about the business and performance highlights for the period ended September 2026, the growth perspective and vision for the coming year, post which we will open the floor for Q&A. Over to the management team. Sajid Shaikh: Thank you, Vinay. Good afternoon and welcome to everybody. Thank you very much for joining this call and taking the time out. So this year continues to be a year for growth, a growth year for us. As a company, I think H1 this year was -- H1 last year has been a substantial growth that we have been able to show on all fronts, despite of the fact that Q2 generally is a lean period for us, which was the case even this year, I think, we still have been able to put out -- put up a decent show over here. On the numbers front, if I have to look at the standalone results, I think, a INR 300.49 crores, roughly INR300 crores was what we have been able to do last year. And this year the number stands at about INR 534 crores, which is a 78% growth year-on-year, H1 last year versus H1 this year. Similarly, on the absolute EBITDA, we have shown a 60% growth from INR 31.9 crores of last year we are at INR 51.16 crores this year. So a 60% growth on the absolute EBITDA. Another encouraging number on this front is the PAT. So the absolute PAT for last year was INR 3.27 crores versus this year, which is INR 10.22 roughly crores, INR 10.22 crores. So a 213% growth. So these are the numbers that are for this standalone results. When you look at the consolidated results, I think those results are also encouraging with a top line growth of 83%. So INR 302.56 crores last year versus INR 544.8 crores this year. On the absolute EBITDA we Page 2 of 21 Virtuoso Optoelectronics Limited (VOEPL) Q2 & H1 FY27 Post Earnings Conference Call November 6, 2026 12.15 PM IST have a 77% growth, from INR 31.7 crores last year versus almost INR 56 crores of this year. And absolute PAT from INR 2.54 crores of last year to INR 11.74 crores this year. So I think overall this year has been good. As a company whatever numbers we had initially envisaged and set out to do for, I think we are on track for doing those numbers. The capacity expansions that we have spoken about are all underway. And I think going forward for the next 6 months, Q3 and Q4 look to be encouraging for us. The order book looks very encouraging and we should be able to achieve the numbers that we have been talking all along. Capacity expansion, as I said earlier, I think if you have to go segment- wise, EMS, the facility that we had spoken about, is almost in the process of a commissioning. I think in the next 45 days it should be operationalized. On the AC front, indoor unit, almost 70% of what we had planned in terms of capacity expansion has already been put in place. The balance 30% is underway, and I think hopefully by December end that should be there in place. ODU expansion will follow after that. On the compressor side, we are hoping that we will be able to go live with the enhanced capacity by the end of this year, hopefully by the end of this financial year. So I think all in all, it’s been a good year so far for us, and we hope that we would want to continue on the same note and deliver whatever best we can for this year. Moderator: Thank you, sir. We’ll open the floor for Q&A. [Operator Instructions]. We’ll take the first question from Shreyansh Jain. Shreyansh, you can go ahead please. Also request all participants to limit it to 2 in the initial round so we can address all questions timely. Shreyansh Jain: Hello, am I audible? Sajid Shaikh: Yes, you are. Shreyansh Jain: Thank you for the opportunity and congratulations to the management for delivering good set of numbers. Couple of questions from my end. First, sir, one of the prominent brands mentioned that they are looking to increase their outsourcing mix. In addition, there are small players entering the market via outsourcing. So do you feel the outsourcing mix of the industry to increase going forward, and that benefits players like Page 3 of 21 Virtuoso Optoelectronics Limited (VOEPL) Q2 & H1 FY27 Post Earnings Conference Call November 6, 2026 12.15 PM IST Sajid Shaikh: I think this is one thing that we have been saying all along. So the numbers can swing a little up and a little down, but overall I think 40% to 60% has been the number that we have been maintaining as far as outsourcing is concerned. And I think that is the direction that the industry also looks to -- appears to be taking. As far as we are concerned, I think we have our hands full as of now. We would want to ensure that whatever orders we have taken on hand are delivered and we do the committed numbers to our customers. Shreyansh Jain: Okay. And sir, could you please throw some light on each product vertical’s demand utilization levels and client additions, if any? Sajid Shaikh: We would want to refrain from using names over here in terms of client additions. I think, if you go segment-wise, capacity utilizations, I’ll just speak on those numbers. I think EMS, in any case, our capacity utilizations have been in excess of 75%. We continue to be there. The additional capacity that we are trying to put in is more intended towards captive consumption. So as and when it goes live, I think we will continue to be at 75%, 80% of utilization over there. AC, the utilizations have gone up and I think the season probably has kicked in a little earlier than anticipated. And at an annual level, I think we still believe that about 55%, 60% kind of capacity utilization is what is possible there. Compressors, we are almost at about 70% utilization as we speak, 70%, 75% as of now, and it is expected to touch about 80% as we progress Q3 and Q4. Freezers also, we are running at about 65%, 70% capacity utilization. So I think we are almost at an optimum level of utilization in all these segments that we have. Moderator: Thank you. We’ll take the next question, from Piyush Jain. Piyush, you can go ahead. Piyush Jain: Yeah, am I audible? Sajid Shaikh: Yes, you are. Yeah. Piyush Jain: Hi, good morning, Sukrit, sir. Sir want to just understand on few things related to compressors like you just mention that we have already reached around 70%, 75% capacity utilized, which we are talking about 28 lakh units. Sajid Shaikh: Yeah. Piyush Jain: Current capacity yes Page 4 of 21 Virtuoso Optoe [Showing first 8,000 characters — download PDF for full document]