OPTIEMUS INFRA
## 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)**
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### 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**
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### Institutional Interest & Ownership Trends (Jun 2026)
- **Promoter Holding:** ~74.6% (no pledges)
- **FII Holding:** ~2.1%
- **DII Holding:** ~3.4%
- **Retail & Others:** ~19.9%
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### 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**.
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### 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.
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### 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.
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### 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.
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