Virtuoso Optoelectronics, an electronics manufacturing services (EMS) company, has migrated its equity shares from the BSE SME platform to the main board of the NSE and the BSE. Virtuoso has evolved from a single-product, single-customer-dominant air conditioner manufacturer to a diversified, backwards-integrated platform spanning multiple consumer durable categories.
Nashik-based Virtuoso has become an integrated multi-vertical platform as an Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) with a presence across air conditioners, compressors, refrigeration products, LED lighting, water dispensers and washing machines. Virtuoso is scaling up capacity across air conditioners, compressors, EMS and deep freezers.
Scale and Footprint
The company commenced operations in 2015 and was listed on the BSE SME Platform in 2022. It has since expanded its manufacturing presence with 10 manufacturing facilities across Nashik, Chennai and Sanand.
Sukrit Bharati, managing director, Virtuoso Optoelectronics, said that since their listing on the BSE SME Platform in 2022, they have focused on building manufacturing depth, improving backward integration and expanding capabilities across key consumer durable categories. Bharati said they were entering the next phase of growth, and this migration to the main board will give the company access to a wider investor community.
Catalysts for Growth
The company has grown on the back of rising consumer demand, product diversification, an expansion of relationships with brands from a few earlier to around 8-10 at present, and benefiting from the government’s Production-Linked Incentive Scheme for white goods. VOEPL received a Rs 100 crore sanction towards backward integration of white goods (ACs) under the PLI scheme.
Virtuoso is expanding its non-AC verticals, which now account for 40% of the revenues. The refrigeration, compressor and components segments are each growing faster than the AC business, on a smaller base.
The company is betting on its relationships with leading brands that have strong market share, stable demand visibility and consistent year-on-year growth to scale up and chart its growth plans.
The company’s consolidated revenues for FY26 were Rs 823.60 crore, with net profit at Rs 15.03 crore and an EBITDA margin of 10.4%.