Announcement
Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements 22 Sep - Optiemus signs binding term sheet with Nothing for CMF JV; to hold 51.1% stake and build India R&D.
Source: Bse
Optiemus Infracom Limited (OPTIEMUS)
Micro CapTelecom stocks · Micro cap · NSE
Optiemus Infracom is an Indian electronics manufacturing services (EMS) provider. The company is undergoing a strategic transformation, exiting volatile brand partnerships and focusing on high-potential niche categories. It is diversifying into B2C screen protectors and B2B cover glass manufacturing through a JV with Corning Incorporated.
Data qualityFresh enough for analysisQuote updated 21 Oct, 10:46 am ISTDetails
Quote21 Oct, 10:46 am IST
Base fundamentals14 Oct 2026 · screener
Latest result04 Aug, 10:43 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags15 Aug 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Telecom P/E 28.1 (n=16)
Technical timing lens
Trend score and candlestick chart
64BullishSMA20 +36.3% / mo · MACD −
Stock trend: 64
Sector RS: —
Telecom FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
OPTIEMUSD candles · FIT view+73.9%TODAY · PROVISIONALLatest price ₹730.75 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-2.8%
RSI
49
MACD hist
-15.48
52W pos
70%
2026-10-21O ₹751.90H ₹753.90L ₹724.00C ₹730.75Vol 1.7L shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
OPTIEMUSNifty TelecommunicationsNifty 500
- OPTIEMUS
- +23.3%
- Nifty 500
- -5.6%
- Nifty Telecommunications
- +3.9%
- Vs Nifty 500
- +28.9 pp
Chart stats
19 Oct 2026- From 52W high
- -19.1%
- 52W range position
- 72%
- ATR (14)
- 6.9%
- Volume vs 20D
- 0.14x
- Avg traded value
- ₹173 Cr
- 20D price channel
- ₹583 - ₹924.9
₹924.9
₹288 - ₹924.9
₹51.9
Latest completed session
20-session average
112.6% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED25
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good62
Revenue +103.0% · PAT +40.0% YoY
Technical
Bullish64
Price trend and sector-relative-strength timing.
Valuation
Legacy model-269.8%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence65
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 62/100Rev +103% YoY · PAT +40% YoY · +82% QoQ · margin compression
Filed 04 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹883 Cr | +103.0% | +82.1% |
| EBITDA | ₹30 Cr | +11.1% | +328.6% |
| Operating margin | 3.4% | -260 bps | +190 bps |
| PAT | ₹21 Cr | +40.0% | -4.5% |
| PAT margin | 2.4% | -107 bps | -216 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 98.10
- P/B
- 9.03
- EV/EBITDA
- 59.56
- Market Cap
- 7131.00Cr
Profitability
- ROE
- 9.15%
- ROCE
- 10.90%
- ROA
- 3.98%
- 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
- 4.21×
- Altman Z
- 6.12
- Book Value
- 87.60
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 8/5
- OCF
- -12.00 Cr
- EPS TTM
- 8.20
Shareholding
- Promoter Hold
- 71.40%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 79%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 883+82.1% vs prev
Net Profit
₹ CrLatest: 21.0-4.5% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 49. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~26.9% over last month) — short-term momentum positive.
- RSI(14) at 49 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 21% off 52W high · 154% 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.
Nifty 500 leadership
Relative Strength & Trend Stage
88
RS percentile
Stage 2 UptrendEstablished S2
1M return
+26.9%
3M return
+23.3%
6M return
+75.1%
1Y return
+25.3%
RS 1D
-2
RS 20D
+11
Sector rank
#6
Industry rank
-
Stage evidence
- Price is 44.2% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +11.7%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
24 Jul 2026
S2 age
60 trading sessions
Sector
improving
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 121.18-4.08%
RS vs Nifty 500121
Valuation & peers
U-Score 25 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 25 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth11/25
Quality0/20
Balance Sheet8/15
Cash Flow3/10
Piotroski
5/9 (+3)
Penalties
0
Raw sum
25
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
25/100 · legacy band OVERVALUED
Positive drivers
- Balance sheet contributes 8/15 to the score.
- Growth contributes 11/25 to the score.
- Cash flow contributes 3/10 to the score.
Main drags
- Fair-value margin of safety is negative at -269.8%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
98.1
PB
9.0
EV/EBITDA
59.6
ROE
9.2%
ROCE
10.9%
FCF Yield
—
Debt/Equity
0.5
MoS
-269.8%
Score movement
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.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
25
Previous: 25
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-269.8%
Previous: -278.8%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
24
24
24
24
25
25
25
25
25
25
25
25
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹127.13
-474.8% MoS
Growth-justified P/E
24.1
Growth-justified Value
₹197.62
-269.8% MoS
PEG
8.31
Comparable companies
Peers
Business-comparable peers in Telecom — 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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
RAILTEL
Large
Railtel Corporation Of India Limited
Telecom
match 95
67
21.7
17.1%
+45%
UNDERVALUED
TEJASNET
Large
Tejas Networks Limited
Telecom
match 93
14
—
-26.8%
—
OVERVALUED
SURANAT&P
Small
Surana Telecom and Power Limited
Telecom
match 84
58
6.5
-8.4%
+86%
FAIR VALUE
STLTECH
Micro
Sterlite Technologies Limited
Telecom
match 83
15
188.0
1.2%
-14153%
OVERVALUED
ZEEL
Large
Zee Entertainment Enterprises Limited
Telecom
match 82
27
33.4
2.4%
-1414%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-10T07:41:20.095Z
Management commentary snapshot
Q4FY26 shows turnaround with 8% YoY revenue growth and 20.9% YoY EBITDA growth, driven by corrective actions. However, FY26 revenue declined 6.4% YoY due to strategic exits, though full-year EBITDA grew 7% YoY.
Management claims a deliberate transformation in FY26, exiting volatile partnerships and upgrading customer mix, which tempered full-year revenue but structurally strengthened the core. The Q4FY26 results show a visible turnaround, supported by new EMS partnership wins and diversification into high-margin glass segments. The ambitious 40-45% revenue CAGR guidance over three years hinges on successful execution of these new ventures.
Growth engines
New EMS Partnership Wins
Secured partnerships for IoT Modules, AI+ Smartphones, Realme Power Banks, IoT Products, PhonePe Soundbox, POS Devices, and Accton Telecom, expected to drive incremental revenue.
Foray into Screen Protector Segment (B2C)
Opening a B2C business segment with high profitability potential, leveraging existing manufacturing capacity and anticipating mandatory quality certification.
Foray into Cover Glass Segment (B2B)
Entry into a high entry-barrier B2B segment through Bharat Innovative Glass Technologies (BIG Tech), a 70:30 JV with Corning Incorporated.
Focus on Niche & Premium Categories
Reduced over-dependence on local H&W brands, focusing on premium H&W, Routers, IoT, Cameras, Mobiles, Modules & POS/Soundbox.
Capacity and execution
Screen Protector Manufacturing Capacity
Manufacturing capacity for screen protectors was inaugurated on August 30, 2025, and is already in place.
Cover Glass Facility (BIG Tech JV)
The facility for Bharat Innovative Glass Technologies (BIG Tech) was inaugurated on December 5, 2025, with sampling and trial production completed.
New EMS Unit 3
A new Unit 3 is expected to commence in Q2FY27 to ramp up production for AI+ Smartphones.
Tailwinds
Mandatory Quality Certification for Screen Protectors
Government stakeholder consultations held on May 11, 2026, for making quality certification mandatory under the CRO framework, expected by Dec 2026.
PLI 2.0 for Components
PLI 2.0, covering components with 55%+ value addition, is expected to enable brands to onboard BIG Tech as a cover glass supplier.
Headwinds
Challenging Global Environment
Management noted a 'challenging and uncertain global environment' impacting operations.
Memory-Chip Shortage
Production for PhonePe Soundbox is temporarily deferred due to a memory-chip shortage at the customer end.
Risk radar
Execution Risk of New Partnerships
Successful ramp-up and meaningful contribution from numerous new EMS partnerships starting from Q2FY27 is critical for growth.
Customer Onboarding for Cover Glass
Revenue visibility for the Cover Glass segment might take 12–15 months as customer agreements get concluded.
Volatile Brand Partnerships
The company previously exited brand partnerships with inconsistent forecasting that drove production volatility, indicating a past risk.
Management accountability
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.
Analyst reading lens
Compare BOTH
Q4FY26 results are crucial for assessing the immediate impact of corrective actions and the 'turnaround' claimed by management, indicating sequential momentum. However, the full-year FY26 results provide context for the strategic transformation and its impact on overall annual performance.
Sector KPIs management disclosed
Q4FY26 Operating Revenue Growth
Operating Revenue grew 8.0% YoY to ₹48,498 Lakhs in Q4FY26.
Q4FY26 EBITDA Growth
EBITDA increased 20.9% YoY to ₹3,924 Lakhs in Q4FY26.
Q4FY26 PBT Growth
PBT grew 31.1% YoY to ₹2,757 Lakhs in Q4FY26.
FY26 Operating Revenue Growth
Operating Revenue declined 6.4% YoY to ₹1,76,862 Lakhs in FY26.
Management forward view
Revenue CAGR Guidance
Management is confident of delivering 40–45% overall revenue CAGR over the next three years.
B2C Product Portfolio Development
Actively building a proprietary B2C product portfolio to leverage in-house manufacturing and go-to-market strengths for higher margins and brand equity.
Structural Strengthening of Core Business
Exiting volatile brand partnerships and upgrading customer mix have structurally strengthened the core business.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| New EMS Partnerships Revenue Contribution | Trial production complete/production started for some, billing/off-take from Q2FY27 for most. | Meaningful revenue contribution and ramp-up from IoT Modules, AI+ Smartphones, Realme Power Banks, IoT Products, POS Devices, and Accton Telecom in Q2FY27 onwards. |
| PhonePe Soundbox Production | Temporarily deferred due to memory-chip shortage. | Resumption of production and billing once the memory-chip shortage at the customer end is resolved. |
| CRO Framework for Screen Protectors | Stakeholder consultations held; deadline expected by Dec 2026. | Official notification of the deadline by the Government for mandatory BIS approval, which could boost the company's B2C segment. |
| Cover Glass Customer Agreements | Sampling and trial production completed; revenue visibility expected in 12-15 months. | Leading brands visiting and auditing the BIG Tech facility, and conclusion of customer agreements to drive revenue. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
65Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 45th percentile of the scored universe and 50th percentile within Telecom. Main check: cash conversion is weak at 52/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
46 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
45th percentile
overall median 67 · Telecom: 50th pctile, median 66 · Micro: 27th pctile, median 73
Evidence depth
Financial-only
46 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read 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.
Promoter
78
strong · holding, pledge, alignment
Cash flow
52
watch · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
58
watch · capital discipline
Results
55
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 71.4%.
- ▸Promoter pledge is zero.
- ▸8 years of positive FCF.
Trust risks
- ▸Operating cash flow is negative at ₹-12 Cr.
- ▸Promoter holding fell 1%.
- ▸ROCE trend is -2.4%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Optiemus Infracom Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 22 Sep - Optiemus signs binding term sheet with Nothing for CMF JV, initially acquiring 51.1% stake.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Aug - Intimation regarding newspaper advertisement in respect of loss of Share Certificates of Shareholder
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
Annual report
Announcement under Regulation 30 (LODR)-Newspaper Publication 6 Sep - Newspaper clippings in respect of completion of dispatch of Annual Report of the Company for the FY 2025-26 along with Notice of 33rd Annual General …
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.