OPTIEMUS INFRAOptiemus Infracom LimitedNSE:OPTIEMUSTechnicalAnalystSucrit## Optiemus Infracom Ltd. (CMP ₹605.00, NSE: OPTIEMUS) **The SmartWay Research Desk | 16 September 2026** A Gurugram‑based diversified company, incorporated in 1993. Optiemus Infracom Ltd. operates across **telecom distribution, mobile handset manufacturing, electronics, and infrastructure services**. The company is known for its partnerships with global brands in smartphones and accessories, and has expanded into **electronics manufacturing services (EMS)** under the “Make in India” initiative. **Promoter Holding (Jun 2026):** **Ashok Gupta & Family — ~74.6% stake (no pledges)** --- ### FY22–FY26 Snapshot - **Revenue Growth:** FY26 revenue ₹3,242 Cr vs ₹2,812 Cr in FY25 (+15.3% YoY). → **Good** - **Net Profit:** FY26 PAT ₹212 Cr vs ₹182 Cr in FY25 (+16.5% YoY). → **Good** - **Operating Margin:** FY26 EBITDA ₹462 Cr, margin 14.3% vs 13.6% last year (+70 bps). → **Good** - **Equity Capital:** Stable, face value ₹10. → **Good** - **Dividend Policy:** Dividend ₹2.50/share declared for FY26. → **Good** - **Asset Building:** Investments in **EMS facilities and smartphone assembly plants**. → **Good** - **Sales:** Strong demand from **mobile distribution and electronics manufacturing**. → **Good** - **Expense:** Raw material and import costs remain elevated. → **Neutral/Good** - **EPS:** FY26 EPS ₹14.25 vs ₹12.20 last year (+16.8%). → **Good** --- ### Institutional Interest & Ownership Trends (Jun 2026) - **Promoter Holding:** ~74.6% (no pledges) - **FII Holding:** ~2.1% - **DII Holding:** ~3.4% - **Retail & Others:** ~19.9% --- ### Strategic Moves & Innovations - Expansion in **electronics manufacturing services (EMS)**. - Focus on **smartphone assembly and accessories distribution**. - Partnerships with **global brands for technology transfer**. - Diversification into **IoT devices and telecom infrastructure**. --- ### Cash Flow & Balance Sheet Strength - Market cap ~₹6,200 Cr. - Debt‑to‑equity ratio ~0.42 (moderate leverage). - Book value per share ₹142.00; P/B ~4.3. - EPS (TTM) ₹14.25; P/E ~42.5. --- ### Risk Factors - Very high **P/E ratio ~42.5**, valuations expensive. - Dependence on **smartphone demand cycles and global brand tie‑ups**. - Exposure to **import cost volatility and forex risks**. - Competition from Dixon Technologies, Amber Enterprises, and Foxconn India. --- ### Investor Takeaway Optiemus Infracom has delivered **robust FY26 performance**, supported by EMS expansion, smartphone distribution, and IoT diversification. With strong promoter backing (Gupta Family, 74.6% stake), dividend payouts, and leadership in electronics manufacturing, Optiemus remains a **mid‑cap EMS and telecom play**. At CMP ₹605.00, valuations are **expensive (P/E ~42.5, P/B ~4.3)**, reflecting growth expectations but also sectoral risks.