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Stock Analysis

Description

Centum Electronics Limited is a leading Indian Electronics System Design and Manufacturing (ESDM) company established in 1993. It provides design and manufacturing services for mission-critical systems and subsystems across Defence, Space, Aerospace, Industrial, Transportation, and Medical sectors.

Key Growth Triggers

Strong demand in Defence and Space sectors, supported by government initiatives like 'Make in India' and 'Aatmanirbhar Bharat'.
Strategic partnerships with defence PSUs like Bharat Electronics Limited (BEL) and Garden Reach Shipbuilders & Engineers Limited (GRSE) for joint development in critical defence electronics, EW, radar, and communication systems.
Teaming agreement with Indra Air Traffic Inc. for advanced naval navigation systems.
Focus on high-entry-barrier sectors and leveraging global reach for end-to-end solutions.
Redesignation of Dr. Vinod Chippalkatti as CTO to drive technological innovation across the group.

Order Book

Order Book: As of Q1 FY26 investor presentation, the consolidated order book stood strong at approximately INR 17,691 Mn (₹17,691 million), up 7.7% YoY. New DRDO orders were also secured.

Key Red Flags

Stock is trading at a high Price to Book value of 5.88x.
Historically high debtors days (153 days as of Mar 2025).
Previous losses from Canadian subsidiaries (Centum E&S, Centum T&S) leading to their discontinuation by March 2026.
The current news itself points to a historical tax demand, though it has been partially allowed, indicating past compliance issues.

Key Dates To Watch

The company is scheduled to receive the order giving effect to the CIT(A)’s decision regarding the tax appeal. No other specific future dates are mentioned in the current report or recent history provided.

Corporate Announcements

3rd Apr 26

Impact Rating: 3

Centum Electronics Limited has filed its SEBI Regulation 74(5) compliance certificate for the quarter ending March 31, 2026, from its RTA, KFin Technologies.

16th Mar 26

Impact Rating: 7

Centum Electronics Limited's shareholders have voted in favour of appointing two new Independent Directors and approving a major restructuring involving its UK and France subsidiaries, confirming the outcomes of a postal ballot.

16th Mar 26

Impact Rating: 3

Centum Electronics has scheduled an investor and analyst meeting for March 23, 2026, as part of the 11th Annual Valorem Conference in Mumbai, assuring that no Unpublished Price Sensitive Information will be disclosed.

7th Mar 26

Impact Rating: 9

Centum Electronics unveiled its March 2026 investor presentation, showcasing its expertise in aerospace, defense, EMS, and ER&D, alongside 9M FY26 financial results and strategic growth plans.

6th Mar 26

Impact Rating: 5

Centum Electronics Limited informed stock exchanges about upcoming meetings of its officials with institutional investors and analysts scheduled for March 12th and 13th, 2026, with no UPSI intended for discussion.

Peer Comparision

S.No.	Name	Current Price (Rs.)	Price to Earning	Market Capitalization (Rs.Cr.)	Dividend yield (%)	Net Profit latest quarter (Rs.Cr.)	YOY Quarterly profit growth (%)	Sales latest quarter (Rs.Cr.)	YOY Quarterly sales growth (%)	Return on capital employed (%)	Sales (Rs.Cr.)	OPM (%)	Profit after tax (Rs.Cr.)	Profit after tax latest quarter (Rs.Cr.)	Price to book value	Return on assets (%)	Debt to equity
1.	Honeywell Auto	33965.00	58.21	30043.78	0.31	119.50	3.82	1149.40	12.26	18.40	4537.80	12.66	516.10	119.50	7.17	9.98	0.02
2.	Kaynes Tech	3612.20	63.86	24182.39	0.00	121.41	101.64	906.22	58.40	14.28	3225.35	16.21	378.68	121.41	5.17	7.24	0.19
3.	Jyoti CNC Auto.	924.05	60.68	21003.75	0.00	85.50	12.68	507.90	17.93	24.35	1943.26	26.50	346.13	85.50	11.48	12.99	0.40
4.	Aditya Infotech	1386.60	82.77	16291.82	0.00	69.98	196.78	919.64	37.48	19.49	3111.87	7.96	150.44	69.98	10.25	6.24	0.08
5.	LMW	14761.00	131.56	15822.20	0.20	40.92	67.29	821.88	6.88	4.48	3086.08	4.91	120.27	40.92	5.57	2.07	0.00
6.	Tega Inds.	1878.60	59.71	14118.76	0.11	44.94	522.44	405.35	14.73	17.80	1706.82	21.45	236.44	44.94	8.47	10.07	0.21
7.	Syrma SGS Tech.	708.15	59.47	13658.20	0.21	66.34	76.77	1145.89	37.60	11.67	3883.93	10.01	229.67	64.06	4.85	4.37	0.12
8.	Centum Electron	2305.70	49.87	3403.64	0.26	13.05	35.94	205.53	23.32	16.57	835.30	14.30	68.25	13.05	5.88	5.45	0.22
–	Median: 118 Co.	271.1	31.82	613.79	0.0	6.36	12.93	75.77	16.99	16.38	228.71	14.3	15.93	6.25	3.55	7.69	0.19

Quarterly Results

Standalone figures in ₹ crores

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	105	103	195	128	160	176	168	133	167	181	269	180	206
Expenses	101	97	157	111	139	154	151	120	146	159	223	153	181
Operating Profit	3	6	38	17	21	22	17	13	20	21	47	27	25
Other Income	1	1	2	1	1	1	5	2	1	1	4	3	3
Profit before tax	-3	-1	31	10	13	15	12	6	13	12	40	23	18
Tax %	-28%	-11%	26%	26%	26%	26%	27%	26%	25%	26%	26%	27%	26%
Net Profit	-2	-1	23	7	10	11	9	4	10	9	30	16	13
EPS in Rs	-1.92	-0.73	17.71	5.53	7.44	8.41	6.76	3.49	7.44	7.07	20.11	11.22	8.87

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	292	316	332	387	355	499	482	425	348	501	633	750	835
Expenses	247	274	289	337	355	429	411	362	305	447	554	648	716
Operating Profit	45	42	43	50	0	70	71	62	43	54	79	102	119
Other Income	6	11	12	7	8	37	4	4	4	5	7	7	10
Interest	6	3	5	8	15	27	28	17	15	16	18	19	20
Depreciation	7	7	6	8	12	12	13	16	16	16	18	19	18
Profit before tax	39	43	43	41	-19	68	35	33	15	26	49	71	93
Net Profit	30	32	32	31	-22	58	25	24	12	19	36	53	68
EPS in Rs	24.54	25.50	25.60	24.20	-16.95	45.03	19.43	18.61	9.13	15.06	28.13	35.90	47.27
Dividend Payout %	10%	12%	12%	21%	-6%	11%	13%	22%	27%	27%	21%	17%	–

Balance Sheet

Standalone figures in ₹ crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	12	13	13	13	13	13	13	13	13	13	13	15	15
Reserves	92	119	148	174	147	204	223	242	252	270	300	549	562
Borrowings	32	59	70	150	208	205	188	143	99	107	118	96	125
Other Liabilities	64	114	143	145	192	237	212	137	182	315	393	455	587
Total Liabilities	200	305	374	483	561	660	636	534	546	705	823	1,115	1,288
Fixed Assets	36	32	40	113	109	103	123	120	114	109	113	110	130
Gross Block	109.59	113.61	127.47	120.57	128.55	133.77	167.06	180.10	190.31	200.78	221.32	233.63	–
Accumulated Depreciation	73.17	82.00	87.54	7.11	19.13	31.22	44.38	59.80	76.24	91.43	108.34	124.13	–
CWIP	0	0	21	0	1	10	1	2	0	5	0	8	1
Investments	3	3	4	52	49	49	49	64	63	76	108	154	154
Other Assets	161	270	309	317	402	498	463	348	369	514	601	844	1,004
Total Assets	200	305	374	483	561	660	636	534	546	705	823	1,115	1,288

Cash Flows

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	26	-3	41	6	-24	32	66	94	68	21	84	-20
Cash from Investing Activity	-14	-1	-30	-97	-13	-6	-4	-20	-6	-13	-66	-102
Cash from Financing Activity	-8	23	2	60	36	-30	-60	-69	-58	-9	-7	156
Net Cash Flow	4	20	14	-31	-0	-3	1	5	4	-1	11	35

Ratios

Standalone Figures in ₹ Crores / Yearly

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	91	104	98	84	97	136	129	86	94	153	127	153
Inventory Days	102	195	229	243	361	262	287	252	357	268	260	241
Days Payable	66	81	121	108	166	124	148	86	130	176	135	122
Cash Conversion Cycle	128	219	206	219	292	275	268	252	320	244	252	272
Working Capital Days	49	56	26	14	-10	19	29	31	47	48	59	76
ROCE %	36%	28%	23%	18%	-1%	16%	15%	12%	8%	11%	16%	17%

Shareholding Pattern

Numbers in percentages

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	58.80%	58.80%	58.80%	58.80%	58.79%	58.79%	58.75%	58.75%	58.75%	51.52%	51.52%	46.99%	46.89%
FIIs	0.03%	0.08%	0.11%	0.48%	0.38%	0.37%	0.37%	0.38%	1.03%	0.81%	1.93%	2.85%	2.39%
DIIs	6.17%	6.34%	7.66%	7.93%	7.25%	7.69%	8.13%	8.53%	8.06%	15.36%	15.69%	19.29%	19.95%
Public	34.99%	34.78%	33.42%	32.78%	33.57%	33.15%	32.76%	32.35%	32.16%	32.31%	30.86%	30.85%	30.78%

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Centum Electronics files SEBI compliance certificate for Q4 FY26

3rd April 2026, 9:36 pm

Centum Electronics: Members Approve Director Appointments and Subsidiary Restructuring via Postal Ballot

17th March 2026, 5:29 am

Centum Electronics to Participate in Investor Meet on March 23, 2026

16th March 2026, 4:29 pm

Centum Electronics Presents March 2026 Investor Deck: Focus on Growth Sectors and Financial Overview

8th March 2026, 12:07 am

Centum Electronics to Meet Investors and Analysts on March 12-13, 2026

7th March 2026, 12:07 am

Published by Other Websites

External media mentions & references

Analyst Picks Centum, GPIL, Granules: Buy Signals Flashing

23rd March 2026, 7:03 am

Centum Electronics Lands Rs 668 Cr HAL Radar Contract, Charts Strategic Shift

26th February 2026, 12:27 pm

Centum Electronics Secures ₹500 Cr Advanced Radar Deal From HAL

24th February 2026, 4:38 pm

Centum Electronics Secures ₹668 Cr HAL Radar Deal

24th February 2026, 3:50 pm

Global Tech Rout, AI Race Overshadow Indian Earnings

6th February 2026, 7:18 am

News Articles

Editorial & research coverage

Global Tech Rout, AI Race Overshadow Indian Earnings

6th February 2026, 7:18 am

Sub-Rs 100 Stocks Surge: Buyers Dominate Dozen Penny Shares

12th January 2026, 4:28 pm

Centum Electronics STOCKS SURGE: Brokerage Issues BUY Signal with ₹3,000 Target!

14th November 2025, 11:51 am

Documents

Announcements

Intimation Under Regulation 30 Of The SEBI (LODR) Regulation, 2015 - Change In Designation In Senior Management Personnel.

8 Jan - Dr. Vinod Chippalkatti redesignated from President-SEBU to Chief Technology Officer, Centum Group, effective immediately.

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Intimation Of Cessation Of Independent Director, Mr. Thiruvengadam Parthasarathi (00016375) Pursuant To Completion Of Tenure

26 Dec - Mr. Thiruvengadam Parthasarathi ceases as independent director effective close of business 27 December 2025, end of second term.

Closure of Trading Window

Announcement under Regulation 30 (LODR)-Change in Directorate

19 Dec - Appointment of Apurva Chandra as Non-Executive Independent Director effective 19-Dec-2025 for five-year term, subject to shareholder approval.