ASM Technologies Ltd (526433)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, ASM Technologies' revenue was ₹19.9 Cr (-83.8% year on year, -85.3% on the previous quarter), and net profit ₹2.7 Cr (-83.2% year on year); the operating margin was 23.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹19.9 | -83.8% | -85.3% |
| Operating profit | ₹4.6 | -82.2% | -81.5% |
| Net profit | ₹2.7 | -83.2% | -84.2% |
| EPS (₹) | 18.39 | +53.9% | +60.1% |
| Operating margin | 23.2% | — | — |
📢 Recent Corporate Announcements
ASM Technologies Limited has approved the allotment of 10,78,974 fully paid-up equity shares at Rs 4,875 per share on a preferential basis, raising Rs 525.99 Cr. The fundraise is substantial, exceeding its TTM revenue of Rs 425 Cr and representing ~7.9% of its current market cap of Rs 6,670 Cr. Key allottees include schemes of SBI Mutual Fund (absorbing over Rs 400 Cr), Derive Trading and Resorts, and Asha Mukul Agrawal. Consequent to this, the company's paid-up share capital increased from 1,45,88,598 shares to 1,56,67,572 shares, representing an equity dilution of approximately 6.89%.
- Approved allotment of 10,78,974 equity shares at Rs 4,875 per share (including Rs 4,865 premium).
- Total capital raised stands at Rs 525,99,98,250 (Rs 526 Cr), which is ~1.24x its TTM revenue.
- Major marquee backing from SBI Mutual Fund schemes, which secured over 8.22 lakh shares.
- Total paid-up share count expanded from 1,45,88,598 to 1,56,67,572 equity shares.
ASM Technologies issued an EGM corrigendum following feedback from BSE regarding its proposed preferential issue to raise up to Rs 526.00 Cr via 10,78,974 equity shares to non-promoter QIB and non-QIB investors. The company detailed its utilization roadmap, earmarking Rs 190.24 Cr for organic growth and capex, Rs 120.15 Cr for strategic acquisitions, and Rs 50.06 Cr for working capital. The total fundraise is significant, representing ~124% of TTM revenue (Rs 425 Cr) and ~7.9% of its Rs 6,670 Cr market capitalization. The shareholder vote is scheduled at the EGM on October 4, 2026.
- Proposed fundraise of up to Rs 525,99,98,250 via 10,78,974 equity shares to non-promoters.
- Rs 190.24 Cr allocated to capex for manufacturing facilities and equipment by March 31, 2031.
- Rs 120.15 Cr allocated to inorganic growth and strategic acquisitions by March 31, 2032.
- Rs 34.04 Cr allocated to debt repayment and Rs 50.06 Cr to working capital requirements.
ASM Technologies Limited has appointed Ms. Amrita Verma Chowdhury as an Additional Director (Non-Executive, Independent Woman Director) for a five-year tenure from August 31, 2026, to August 30, 2031. The appointment is subject to approval by the company's shareholders. Ms. Chowdhury brings extensive domain experience in semiconductors and digital technologies, having previously worked at Applied Materials with 7 US patents to her credit.
- Appointed as Non-Executive Independent Woman Director for 5 consecutive years effective August 31, 2026, to August 30, 2031.
- Appointment approved via circular resolution and is subject to shareholder approval.
- Brings specialized semiconductor expertise as a co-inventor on 7 US patents and author of 12 technical papers.
ASM Technologies reported a strong Q1 FY27 with revenue growing 62% YoY to ₹199 Cr and PAT increasing 72% to ₹27 Cr. The company is aggressively pivoting towards Design-Led Manufacturing (DLM), which now accounts for 73.6% of revenue compared to its traditional ER&D services. A major ₹510 Cr investment is planned for new facilities in Karnataka and Tamil Nadu to target the semiconductor and electronics supply chain. EBITDA margins improved to 23.2%, reflecting better operational efficiency and a shift toward higher-value IP-led offerings.
- Q1 FY27 Revenue reached ₹199 Cr, a 62% increase compared to ₹123 Cr in Q1 FY26.
- EBITDA margins expanded to 23.2% from 20.9% YoY, with EBITDA growing 80% to ₹46 Cr.
- Planned investment of ₹510 Cr for ESDM facilities, which is approximately 96.6% of TTM revenue.
- Design-Led Manufacturing (DLM) segment now contributes 73.6% of total revenue, up from 12.7% in the previous year's quarter.
- Secured 10-acre land in Karnataka for a state-of-the-art manufacturing facility to support the semiconductor sector.
ASM Technologies has declared an interim dividend of ₹6 per equity share (60% of face value) for FY 2026-27, with a record date of August 12, 2026. The company's Q1 FY27 results were taken on record, though the auditor highlighted ongoing stabilization issues with a new TCS iON ERP system affecting inventory and debtor reports. Additionally, the company is still finalizing formal valuations for investments in Eclectic IQ and Lavelle Networks, totaling ₹6.30 crore at cost. Of the ₹170.13 crore raised via preferential allotment, ₹89.28 crore has been deployed toward organic and inorganic growth.
- Interim dividend of ₹6 per share declared, payable on or before September 4, 2026.
- Record date for dividend eligibility fixed as August 12, 2026.
- Raised ₹170.13 crore through preferential allotment and warrants, with ₹89.28 crore utilized for growth.
- Auditor's Emphasis of Matter regarding bugs in the new TCS iON ERP system impacting financial reporting accuracy.
- Three foreign subsidiaries reported a combined revenue of ₹2.45 crore and a net loss of ₹0.048 crore for the quarter.
ASM Technologies has approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. While specific revenue and profit figures for this quarter were not detailed in the cover letter, the company enters FY27 following a strong FY26 where annual revenue reached Rs 529 Cr. With a high P/E of 112.1 and a market cap of Rs 6,837 Cr, the market will be assessing if the company can maintain its TTM OPM of 18.9%. The results are subject to a limited review by auditors as per SEBI regulations.
- Board meeting held on 5th August, 2026, to approve the unaudited financial results.
- Reporting period covers the first quarter of FY27, ended 30th June, 2026.
- TTM Revenue of Rs 528 Cr serves as the baseline for evaluating current performance.
- TTM PAT stands at Rs 61 Cr with a high P/E ratio of 112.1.
- Company is currently executing a Rs 760 Cr investment plan in new DLM facilities.
ASM Technologies has declared an interim dividend of ₹6 per share (60% of face value) for FY27, with a record date of August 12, 2026. The company is currently stabilizing a new TCS iON ERP system, which has led to auditor notes regarding inaccuracies in inventory valuation, debtor aging, and fixed asset registers. While the company successfully raised ₹170.13 crore via preferential issues, two foreign subsidiaries in Singapore and Japan have eroded their net worth, requiring ongoing financial support from the parent. The company has utilized ₹89.28 crore of the raised funds specifically for organic and inorganic growth.
- Interim dividend of ₹6 per share declared for FY27, with payment by September 4, 2026.
- Total funds raised via preferential allotment and warrants amount to ₹170.13 crore.
- ₹89.28 crore of raised capital deployed for organic and inorganic growth initiatives.
- Auditors flagged ERP stabilization bugs affecting opening balances and unbilled receivables.
- Singapore and Japan subsidiaries report combined net worth erosion of approximately ₹3.2 crore.
ASM Technologies has scheduled a board meeting for August 5, 2026, to approve its unaudited financial results for the first quarter ended June 30, 2026. The board will also consider recommending an interim dividend for the 2026-2027 fiscal year. This follows a strong FY26 where the company reported a revenue of ₹529 cr, an 83% increase over FY25. Investors should note the trading window remains closed for insiders until August 7, 2026.
- Board meeting scheduled for August 5, 2026, to review Q1 FY27 performance
- Consideration of an interim dividend for the financial year 2026-2027
- Trading window closure from June 30, 2026, to August 7, 2026
- Company reported TTM revenue of ₹528 cr and TTM PAT of ₹61 cr as of March 2026
ASM Technologies reported a strong financial performance for FY2025-26, with revenue reaching ₹528.5 Cr and a Profit After Tax (PAT) of ₹60.8 Cr. The company achieved a robust Return on Equity (RoE) of 25.7% and an EBITDA of ₹101.1 Cr. A key strategic highlight is the acquisition of 10 acres of land in Karnataka for a new integrated manufacturing campus, currently in the final stages of agreement. The company has set July 29, 2026, as the record date for its final dividend, with the Annual General Meeting scheduled for August 5, 2026.
- Revenue for FY26 stood at ₹528.5 Cr with a Profit After Tax of ₹60.8 Cr.
- Achieved a high Return on Equity (RoE) of 25.7% and EBITDA of ₹101.1 Cr.
- Secured 10 acres of land in Karnataka for a state-of-the-art integrated manufacturing campus.
- Record date for the final dividend is fixed for July 29, 2026.
- The 34th AGM is scheduled for August 5, 2026, via video conferencing.
ASM Technologies reported a strong FY2026 with revenue reaching ₹528.5 Cr and a Profit After Tax (PAT) of ₹60.8 Cr. The company is pivoting towards 'AI-Powered Design-Led Manufacturing' (DLM), achieving a robust Return on Equity (RoE) of 25.7%. A significant development is the acquisition of 10 acres of land in Karnataka for a state-of-the-art integrated manufacturing campus, currently in the final agreement stages. The 34th AGM is scheduled for August 5, 2026, with a final dividend record date of July 29, 2026.
- Revenue for FY2026 stood at ₹528.5 Cr with an EBITDA of ₹101.1 Cr.
- Profit After Tax (PAT) reached ₹60.8 Cr, reflecting strong execution in DLM and ER&D segments.
- Return on Equity (RoE) was reported at 25.7% for the fiscal year.
- Secured 10 acres of land in Karnataka for a new integrated manufacturing campus to scale operations.
- Final dividend record date is set for July 29, 2026, with the AGM on August 5, 2026.
ASM Technologies Ltd has announced the schedule for its 34th Annual General Meeting (AGM) and associated corporate actions. The company has fixed July 24, 2026, as the record date to determine shareholder eligibility for the dividend for the financial year 2025-26. The AGM is scheduled to be held on August 5, 2026, via video conferencing. Additionally, July 31, 2026, has been set as the cut-off date for determining voting rights for the meeting resolutions.
- Record date for FY 2025-26 dividend eligibility is July 24, 2026
- 34th Annual General Meeting (AGM) scheduled for August 5, 2026, at 4:00 PM
- Cut-off date for e-voting on AGM resolutions is July 31, 2026
- Register of Members and Share Transfer Books closed from July 29 to August 5, 2026
ASM Technologies has announced its 34th Annual General Meeting (AGM) for August 5, 2026, to be held via video conferencing. The company has fixed July 24, 2026, as the record date for determining shareholder eligibility for the dividend pertaining to the financial year 2025-26. A cut-off date of July 31, 2026, has been established for voting rights on AGM resolutions. The register of members will remain closed from July 29 to August 5, 2026.
- 34th Annual General Meeting scheduled for August 5, 2026, at 4:00 P.M.
- Record date for FY 2025-26 dividend eligibility fixed as July 24, 2026
- Cut-off date for e-voting eligibility set for July 31, 2026
- Book closure period defined from July 29, 2026, to August 5, 2026
Financial Performance
Revenue Growth by Segment
Operating income grew 41.89% YoY to INR 289.28 Cr in FY25, driven by a ramp-up in the Design-Led Manufacturing (DLM) business and increased share from existing customers. H1 FY26 revenue reached INR 277 Cr, a 151.8% increase over H1 FY25.
Geographic Revenue Split
Approximately 45-50% of revenue is derived from international markets, including the USA, Singapore, UK, Canada, Japan, and Mexico, providing a diversified footprint that cushions against regional downturns.
Profitability Margins
PAT margin improved significantly to 8.66% in FY25 from -3.51% in FY24. Operating margins rose to 17% in FY25 from 4.16% in FY24 due to better fixed-cost absorption and a higher mix of DLM business.
EBITDA Margin
EBITDA margin stood at 19.7% in Q2 FY26, supported by operating leverage and an improved service-manufacturing mix, compared to 17% for the full year FY25.
Capital Expenditure
The company has planned a massive capital expenditure of INR 760 Cr, comprising INR 510 Cr for facilities in Karnataka and INR 250 Cr for Tamil Nadu to expand DLM and precision engineering capabilities.
Credit Rating & Borrowing
The company maintains a 'Stable' outlook from Crisil Ratings. Interest coverage ratio improved to 4.6 times in FY25 from 1.01 times in FY24, reflecting a significantly strengthened ability to service debt.
Operational Drivers
Raw Materials
Specific raw materials include electronic components, semiconductor sub-assemblies, and mechanical parts required for prototyping and Design-Led Manufacturing.
Import Sources
Sourced globally, primarily from hubs in Singapore, Japan, and the USA, aligned with the company's international delivery locations.
Capacity Expansion
Currently operates 4 manufacturing facilities and 6 development centers. Planned expansion includes two cutting-edge facilities in Dabaspet (Karnataka) and Sriperumbudur (Tamil Nadu) to support the ESDM sector.
Raw Material Costs
Not disclosed as a specific percentage of revenue, but the company utilizes a robust hedging framework and stringent cost controls to manage input price volatility.
Manufacturing Efficiency
Inventory turnover ratio was 10.38 on a consolidated basis for FY25, reflecting efficient movement of goods relative to sales.
Strategic Growth
Expected Growth Rate
25%
Growth Strategy
Growth will be achieved through a INR 760 Cr investment in new DLM facilities in Karnataka and Tamil Nadu, targeting the semiconductor and electronics supply chain. The company is shifting toward IP-led innovation and non-linear growth models to move beyond traditional engineering services.
Products & Services
Engineering R&D services, embedded system designs, semiconductor equipment prototypes, value engineering, and electronic manufacturing solutions.
Brand Portfolio
ASM Technologies, RV Forms and Gears.
New Products/Services
Next-generation solutions include AI-enhanced industrial analytics, predictive maintenance for heavy machinery, and MLOps for industrial AI.
Market Expansion
Targeting expansion in the semiconductor, electronic equipment, and transportation verticals across India, USA, and Japan.
Strategic Alliances
Signed MoUs with the Governments of Karnataka and Tamil Nadu for large-scale ESDM investments.
External Factors
Industry Trends
The ER&D industry is evolving toward AI, electrification, and semiconductors. India's share is expected to expand materially this decade due to the growth of Global Capability Centers (GCCs).
Competitive Landscape
Highly competitive sector requiring continuous capability upgrades to transition from traditional engineering to AI and Robotics.
Competitive Moat
Durable advantages include a 30-year track record, deep domain expertise in semiconductor equipment, and an integrated 'design-to-manufacturing' model that creates high switching costs for clients.
Macro Economic Sensitivity
Sensitive to global geopolitical tensions and trade restrictions, which can impact business sentiment in the 45-50% international revenue segment.
Consumer Behavior
Shift toward sustainability and digital integration is driving demand for AI-driven predictive maintenance and smart manufacturing.
Geopolitical Risks
Global volatility and economic slowdowns in key markets like the USA or Japan could delay client R&D spending.
Regulatory & Governance
Industry Regulations
Complies with SEBI (LODR) Regulations and affirms 100% compliance with the Code of Conduct for all board members and senior management.
Risk Analysis
Key Uncertainties
High customer concentration (75%) and susceptibility to employee attrition in the IT/ER&D sector are the primary business uncertainties.
Geographic Concentration Risk
45-50% of revenue is concentrated in international markets, primarily the USA and Singapore.
Third Party Dependencies
Relies on partners for limited manufacturing and prototyping, which could impact delivery timelines.
Technology Obsolescence Risk
Rapid evolution of digital technologies like Generative AI requires constant R&D to prevent service offerings from becoming obsolete.
Credit & Counterparty Risk
Receivables management is disciplined, though GCA of 205 days indicates a significant portion of capital is tied up in the working capital cycle.
