IKIO Technologies Limited (formerly IKIO Lighting Limited) has released the transcript of its Earnings Conference Call for the third quarter and nine months ended December 31, 2025. The call was held on February 02, 2026. During the call, the management highlighted strong revenue growth, with Q3 FY26 revenue increasing by 20% year-on-year to ₹146 crores, and for the nine months FY26, revenue grew by 15% year-on-year to ₹430 crores. This growth was attributed to a diversified business mix, a broader customer base, an expanded product portfolio, and enhanced geographical presence. The 'other businesses' segment showed robust growth, increasing by 33% year-on-year to ₹101 crores in Q3 FY26 and 46% year-on-year to ₹298 crores in nine months FY26. New product categories like hearables and wearables are gaining traction, supported by new client wins. Revenue from outside India rose significantly by 57% year-on-year to ₹90 crores in nine months FY26, driven by strong demand in the Middle East, particularly Dubai, despite macro headwinds in the U.S. due to tariff uncertainty. The acquisition of an 88% stake in Gravus Tech has enhanced marketing and distribution capabilities for high-lighting products. The company's diversification strategy is reflected in the increased revenue contribution from the 'other businesses' segment, rising from 63% in Q3 FY25 to 70% in Q3 FY26, and from 55% to 69% for the respective nine-month periods. Financially, in Q3 FY26, EBITDA increased by 47% year-on-year to ₹22 crores, with EBITDA margins expanding to 15%. Profit after tax (PAT) grew by 38% year-on-year to ₹11 crores, with PAT margins expanding to 7.4%. Cash PAT increased by 27% year-on-year to ₹19 crores. The company has deployed approximately 83% of its IPO funds, with debt repayment completed post-IPO and Block I of the new manufacturing facility operational. Civil construction for Block II is complete and ready for operational activities. The company is expanding into new product categories including hearables, wearables, and automotive lighting. Block II of the new facility will allocate 60% to hearables and wearables, and 40% to automotive electronics and lighting. The automotive segment has begun delivering products to major customers, with initial volumes expected to grow. Sustainable gross margins are expected to be between 40% to 45%, with further expansion in EBITDA and PBT margins anticipated as operational efficiencies are achieved in newer verticals. The company has applied for the PLI scheme and expects to benefit from it starting next financial year, estimating an advantage of approximately 4-5%, amounting to ₹5-6 crores for the next year.
