Merritronix544773Periodic business update

H1 FY27 business update: revenue ₹ 106.37 Cr, up 90.15% YoY, order book ₹101.64 Cr

Merritronix has shared its H1 FY27 business update for the half year ended September 30, 2026.

By ScoutQuest · Tue 13 Oct 2026, 6:00 PM IST · 2 min read

Revenue: ₹ 106.37 Cr, up 90.15% YoY
Order Book: ₹101.64 Cr as on September 30, 2026
Capacity Utilisation: 65%

H1 FY27 business update: what it covers

Merritronix has issued a business update for the half year ended September 30, 2026, covering performance, operations, partnerships and governance. The company describes itself as an Electronics System Design and Manufacturing (ESDM) company making high-reliability, mission-critical electronic assemblies for defence, aerospace, telecom and industrial electronics, from an EN 9100:2018 certified facility in Hyderabad. It listed on the BSE SME platform on June 8, 2026.

Financial performance

Revenue: ₹ 106.37 Cr for H1 FY27
Year-on-year growth: 90.15%

Operating metrics

Order book: ₹101.64 Cr as on September 30, 2026
Capacity utilisation: 65%

Capacities as on September 30, 2026

SMT boards: 7.65 lakh p.a.
THT boards: 6.00 lakh p.a.
Product assembly: 4.20 lakh units p.a.

Approvals

Key approvals listed: BEL, HAL, CERN (through TIFR)

IPO proceeds and capex

Funds raised through the IPO are being deployed towards the committed capital expenditure. The ordering and delivery process is underway, and the company expects installation and commissioning to be completed by the end of calendar year 2026.

Partnerships

MoUs have been entered into with Analinear Design Technologies and Stuam Technologies to support design and technology capabilities, which the company says are intended to strengthen its offering and create opportunities for future growth. The capacity utilisation figure carries a note that, as part of its NADCAP certification, the company has initiated the secondary E2E SMT Line.

Governance and investor relations

The appointment of a secretarial auditor for FY 2027-FY 31 has been proposed and approved by shareholders, as stated by the company.
Equibridgex Advisors has been appointed as the investor and public-relations agency effective 1 July 2026.

Management commentary

The Managing Director, Mr. Dovari Amarnath, described the half as moving from a trusted EMS supplier to the path of strategic partner for India's defence ecosystem. He said alliances with design and hardware engineering partners allow the company to offer a single, vertically integrated capability stack, from RF and analog design to precision manufacturing, and that partnerships are being formalised through MoUs and contract manufacturing agreements. He added that the company believes these steps position it for larger, higher-value, multi-year programmes.

What to keep in mind

The update carries a note that the figures are management estimates and subject to final audit adjustments, and a forward-looking statement disclaimer noting that actual results could differ materially. The revenue and growth figures are for the first half, alongside an order book, capacity and utilisation snapshot as on September 30, 2026.

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