OPTIEMUS
Micro CapOptiemus Infracom Limited
Media
Optiemus Infracom Limited is an electronics manufacturing services (EMS) provider undergoing a transformation, exiting volatile partnerships to focus on niche categories. It is diversifying into B2C screen protectors and B2B cover glass manufacturing through a JV, aiming for higher margins and direct consumer relationships.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Weak fundamentals, management trust is acceptable, price trend argues for patience, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Bad · 0/100PAT 0% YoY · margin compression · Rev +8% YoY · +13% QoQ
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹485 Cr | +8.0% | +12.8% |
| EBITDA | ₹7 Cr | -69.6% | -76.7% |
| Operating margin | 1.0% | -400 bps | -600 bps |
| PAT | ₹22 Cr | +0.0% | +83.3% |
| PAT margin | 4.5% | -36 bps | +175 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Where growth can come from, and what can break the case
Q4FY26 consolidated operating revenue grew 8.0% YoY to ₹48,498 Lakhs, with EBITDA up 20.9% YoY to ₹3,924 Lakhs. For FY26, operating revenue declined 6.4% YoY to ₹1,76,862 Lakhs, but EBITDA increased 7.0% YoY to ₹13,809 Lakhs.
Management claims a deliberate transformation in FY26, exiting volatile partnerships and focusing on high-potential niche categories. Q4FY26 results show an operating revenue rebound and strong EBITDA/PBT growth, supporting the turnaround narrative. The company projects 40-45% revenue CAGR over the next three years, driven by new EMS wins and diversification into glass segments.
New EMS Partnership Wins
Secured partnerships for IoT modules, AI+ Smartphones, Realme Power Banks, IoT Products, PhonePe Soundbox, POS Devices, and Accton Telecom.
Foray into Screen Protector Segment (B2C)
Manufacturing capacity in place, potential for high profitability, and B2C segment opening.
Foray into Cover Glass Segment (B2B)
JV with Corning Incorporated (BIG Tech), high entry barrier, PLI 2.0 expected to enable onboarding of brands.
Upgrading Customer Mix
Focusing on large, proficient customers to drive consistent volumes, reducing over-dependence on local brands.
Screen Protector Manufacturing
Capacity already in place for screen protectors, inaugurated on August 30, 2025.
Cover Glass Facility (BIG Tech)
Facility inaugurated by the Hon’ble Chief Minister of Tamil Nadu on December 5, 2025.
New EMS Unit 3
New Unit 3 commences in Q2FY27 for AI+ Smartphones ramp-up.
Government Quality Certification for Screen Protectors
Stakeholder consultations held on May 11, 2026, on making quality certification mandatory under CRO framework, expected by Dec'26.
PLI 2.0 for Components
Expected to act as a key enabler for brands to onboard BIG Tech as a cover glass supplier.
Challenging Global Environment
Management notes a 'challenging and uncertain global environment'.
Memory-Chip Shortage
Production for PhonePe Soundbox temporarily deferred owing to a memory-chip shortage at the customer end.
Execution Risk for New Partnerships
Many new partnerships are in trial/sampling phase with billing/production starting from Q2FY27, requiring successful ramp-up.
Customer Onboarding for Cover Glass
Revenue visibility might take 12–15 months as customer agreements get concluded for the BIG Tech facility.
Supply Chain Disruptions
Memory-chip shortage already impacted PhonePe Soundbox production, indicating vulnerability to component availability.
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The presentation provides only YoY comparisons for both quarterly and annual results. Management highlights Q4FY26 as a turnaround quarter compared to the previous year, indicating the significance of YoY growth in assessing the impact of strategic changes.
EBITDA Margin
ImprovingQ4FY26 at 8.09% (vs 7.22% in Q4FY25); FY26 at 7.81% (vs 6.83% in FY25).
PBT Margin
ImprovingQ4FY26 at 5.69% (vs 4.68% in Q4FY25); FY26 at 5.13% (vs 4.06% in FY25).
Transformation & Turnaround
"FY 2025–26 was a year of deliberate transformation... The turnaround is already visible in Q4 FY26."
Revenue Growth Target
Confident of delivering 40–45% overall revenue CAGR over the next three years.
B2C Strategy
Actively building a proprietary B2C product portfolio with potential for higher margins, brand equity, and direct consumer relationships.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| IoT Modules Off-take | Trial production complete; samples already approved. | Meaningful contribution from Q2FY27 onwards. |
| AI+ Smartphones Production | Production and billing already started from March/April 2026. | Ramp-up as new Unit 3 commences in Q2FY27. |
| Cover Glass Customer Agreements | Sampling and trial production has been completed. | Leading brands visiting/auditing facility and customer agreements concluding for revenue visibility in 12-15 months. |
| Screen Protector CRO Notification | Stakeholder consultations held by Govt. on May 11, 2026. | Deadline to be notified by the Govt. by Dec'26 beyond which only BIS approved screen protectors could be sold. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
42NeutralSMA20 -4.2% / mo
Technical chart
OPTIEMUSweekly · 3Y-36.3%Technical trend read
NeutralTrend is undirectional — long-term trend unclear. RSI 50.
- SMA20 falling (~4.4% over last month) — short-term momentum negative.
- RSI(14) at 50 — sideways, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 39% off 52W high · 48% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation, score drivers, trust methodology, financials, and peers
Use these sections after reviewing the decision summary, latest result, thesis, management accountability, and technical timing above.
Fundamental score breakdown
OVERVALUEDWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Balance sheet contributes 8/15 to the score.
- Growth contributes 12/25 to the score.
- Cash flow contributes 3/10 to the score.
Main drags
- Fair-value margin of safety is negative at -89.5%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Quality is weaker at 1/20; verify the latest quarterly trend.
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: Claim history is still being built. It ranks around the 57th percentile of the scored universe and 75th percentile within Media. Main check: cash conversion is weak at 52/100.
Healthy Trust Lite: Promoter holding is 72.2%. Key concern: Operating cash flow is negative at ₹-13 Cr.
Usable, but needs evidence. Treat guidance with a margin of safety.
overall median 67 · Media: 75th pctile, median 64 · Micro: 40th pctile, median 71
0 documents indexed, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Mixed Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 72.2%.
- ▸Promoter pledge is zero.
- ▸8 years of positive FCF.
- ▸OPM spread across recent quarters is 3%.
Trust risks
- ▸Operating cash flow is negative at ₹-13 Cr.
- ▸Promoter holding fell 1.5%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Intrinsic value
Fundamentals
Valuation
- P/E
- 56.10
- P/B
- 4.77
- EV/EBITDA
- 33.43
- Market Cap
- 3706.00Cr
Profitability
- ROE
- 9.16%
- ROCE
- 10.90%
- ROA
- 3.59%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 58.00%
- EPS 5Y
- 9.00%
- Revenue 3Y
- 15.00%
- EPS 3Y
- 16.00%
Balance Sheet
- Debt/Equity
- 0.48
- Interest Coverage
- 4.26×
- Altman Z
- 3.91
- Book Value
- 87.60
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 8/5
- OCF
- -12.00 Cr
- EPS TTM
- 7.44
Shareholding
- Promoter Hold
- 72.17%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 31%
Financial History
Updated 9/6/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
Business-comparable peers in Media — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.