Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.
Macfos Ltd (BSE: 543787) Q4 2026 Earnings Call dated Apr. 30, 2026
Corporate Participants:
Atul Maruti Dumbre — Chairman and Managing Director
Analysts:
Bhumika Maheshwari — Analyst
Presentation:
Operator
Ladies and gentlemen, good day and welcome to the Maxwell’s Limited earning conference call hosted by Hem Securities Limited. As a reminder, all participant line will be in the listen only mode and there will be an opportunity for you to ask question after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing Star then zero on your touchstone phone. Please note that this conference is being recorded. I’ll now hand the conference over to Mr.
Prabhal Maheshwari from Hems Securities Limited. Thank you. And over to you sir.
Bhumika Maheshwari — Analyst
Thank you. Danish Very good afternoon ladies and gentlemen. Thank you for Joining Maxwell’s Limited Q4 handful year ended 31 March 2026 earnings call. Joining us on the call today from the management team are Mr. Atulumbre, Chairman and Managing Director, Mr. Vinod Prasad, Full Time Director and CFO and Mr. Nilesh Kumar, Full Time Director of Macforce Limited. We will now commence the call with the opening thoughts from the management post which we will open the forum, the Q and A session where the management will be glad to respond to any queries that you may have.
Before we move to the main call I would like to read the standard disclaimer. There may be forward looking statements about the company and its subsidiaries which are based on the belief, opinion and expectation of the company’s management as on the date of this call. The company does not assume any obligation to update these forward looking statements if those beliefs, opinion, expectations or other circumstances changes. These statements are not just guarantees of future performance and involve risks and uncertainties that are difficult to predict.
Consequently, listeners should not place any undue reliance on such forward looking statements. With this I hand over the call to Mr. Artul Dumbare, Chairman and Managing Director of Macforce Limited to take it forward. Over to you Sir.
Atul Maruti Dumbre — Chairman and Managing Director
Thank you. Dear shareholders, we are pleased to share our business progress and financial performance for financial year 2526. This year reflects the steady and focused efforts made across all areas of the organization. During this year we have achieved revenue of roughly 312 year with EBITDA margin of 39cr and profit after tax of 25.65cr. For a fair comparison we have excluded one time bulk sales of roughly 71cr which was done in H1 of financial year 2425 on a like to like basis. This represents a strong year on year growth of roughly 64 to 67% in revenue, 103% in EBITDA and 105% in PAT.
These results reinforce our confidence in the strength of our business fundamentals and our execution with the completion of this financial year, we mark three years as a listed entity. We are proud to have sustained our growth trajectory despite global uncertainties. This reflects the resilience of our business model. We would also like to thank you for keeping faith in robo.in and trust me, this is just the start. We have a long way to go together this demand. Accordingly, we continue to invest.
Sorry, I think I just misgacked something so we believe that the market opportunity remains strong. The key challenge lies in building capability to effectively capture and serve this demand. Accordingly, we continue to invest in strengthening our capabilities which are enhancing our customer support experience, expanding our product portfolio, upgrading our IT systems and improving our fulfillment infrastructure. Demand for our products remain robust. We are witnessing increased traction from corporate customers along with encouraging repeat purchases from existing users.
This growing trust improvement reinforces our confidence in the sustainability of our growth. Our expanding product portfolio, competitive pricing and reliable customer support continue to be key drivers. Additionally, our participation in domestic exhibitions has helped improve brand visibility and enhance more organic cost effective marketing. Our key business indicators including website and app traffic, order volumes, average order value and customer retention continue to show positive trends.
Our business is built around strategic focus areas which are Robo 1.0 and Robo 2.0. For those of who are new here, Rogu 1.0 is our electronics distribution business while Rogu 2.0 focuses on developing our own products. Now let’s talk about them one by 1. Robo 1.0 is our core distribution business and it remains the backbone of our company. We are focused on delivering quality technology products at competitive pricing supported by quick deliveries and dependable customer service. We continue to work closely with suppliers and invest in systems to improve procurement efficiency and reduce delivery timelines while steadily expanding our product portfolio.
To strengthen Roku as a one stop platform, Roku 2.0 is focusing on developing our own products particularly in drone segment. Over the past two years it has gained strong momentum and increasing acceptance of our in house solutions. These capabilities have enabled us to undertake customized development project including engagements with government and defense organizations. Additionally, we have launched key growth related products under our proprietary brand Simpliply. We sincerely thank you for your continued trust and support.
It inspires us to keep improving, innovating and building a stronger and future ready Apart from the regular updates, I would like to clarify some data mismatch in the updated presentation. So first one is total order served in financial year 2526 H2 that is second half of the year. In the presentation, the number is 3 lakh. This was a type of mistake. Actual number is 2,67,126. Second is to sell unique visitors data which is on our website and app. So up till last year that is financial year 2425 we would download the data from our system.
Let’s say for quarter one, then for quarter two, then for quarter three and then for quarter four and add that data up to keep an annual unique visitors on our website. This year we have changed the methodology and downloaded data from first quarter to last quarter that is first day of financial year to last year, financial year in one WooCommerce Systems and reflected that data in presentation. However this has created a mismatch with quarterly data of financial year 2526. I’ll just explain how this has happened.
So if you download let’s say quarter one data and it reflects that we have 1 lakh unique customers and then you download quarter two data and it says that we have 1 lakh unique customers in quarter two. But let’s say 20,000 customers which visited us in quarter one also visited us in quarter two. So they are common in both the quarters. So if you download the data for H1 in our system it will not be 1 lakh plus 1 lakh is equal to 2 lakh. It will be 1.8 lakh. You have to reduce those 20,000 from the system will reduce those 20,000 from the overall data.
So I think to avoid any confusion hereafter what we have decided is that we will continue with the old system that will download the data quarterly and just represent some of 4/4 as annual data. That way everything remains clean and trackable on quarter to quarter basis. Also this year to last year’s quarter basis, These new corrected presentation will be uploading very soon. So that any new shareholder or any new investor looking into our numbers, you will not have the same confusion while studying the old data.
With this I would like to end my presentation and move on to HEM security team for Q and A session.
Operator
Thank you so much sir. Ladies and gentlemen, we’ll begin with the question and answer session. Anyone who wishes to ask a question may press star and one on their touchstone telephone. If you wish to remove yourself from the question queue, you may press star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we’ll wait for a moment while the question queue assembles. The first question come from the line of Kiran D from table three. Please go ahead.
Questions and Answers:
Atul Maruti Dumbre
Hi. Thank you so much for the opportunity. Many congratulations for A fantastic set of results. Yet again
Operator
You’ve outdone yourself almost every quarter, every year. I have two questions, one clarification and one more of a strategy question. So the clarification is in H2 2526 the average order value was 6776 as per presentation. Now in Q3 you did 6000. So that means Q4 is almost 7300 rupees per order. So that’s a substantial jump from, I mean 6,000 to 7,300 almost in Q4. Could you just elaborate the reasons why we are seeing such jumps in average Auto Valley? Is it the nature of customers or is it the basket or anything else?
If you could clarify, that’d be great.
Atul Maruti Dumbre
So Kiranji, if I. Let me just summarize what we asked. So you. You’re saying that average order value from Q3 to Q4 of this financial year there is a substantial jump and you just want to know why? I mean the. For it, right? Hello, are you there?
Operator
I’m sorry but the participant has left the queue.
Atul Maruti Dumbre
Okay, so I’ll, I, I’ll just answer this question. So I think in last quarter of financial year there are a lot of B2B customers as well as B2G customers which are consuming their yearly budget and that’s why we generally see this jump in last quarter of financial year. So I think it is very normal to see this jump for us.
Operator
Thank you. The next question comes from the line of Swaraj from Perpetual Capital Advisors. Please go ahead.
Atul Maruti Dumbre
Congratulations
Operator
On a good set of numbers. My question was are you seeing any increased demand for Raspberry PI and similar development boards due to AI LED use cases? And how is this trend shaping your product strategy
Atul Maruti Dumbre
Overall, AI related products? I would say we are seeing a jump but it is not substantial because if you look at AI currently more or less it is based on things like ChatGPT, Cloud4 or some Grok similar applications which are driven in cloud. So though there is a lot of AI hype, a lot of those people are using cloud based hardware for doing their AI thing. We may or may not see this converting to local AI. So tomorrow because of security and all other reasons people would like AI on the edge. That means they would like to run AI into their laptops, into their mobile or some hardware like Raspberry PI or similar media boards.
So this everybody in the industry is saying that this trend to run it on the edge will grow but nobody knows anything for sure now. And no, I don’t think this will shift any Strategic. This will make us to shift strategically in any direction because we are already covering the hardware side on the edge. So we are selling Nvidia boards, we are selling high end Arduinos, we are selling Raspberry PI and some other boards which may come in higher demand in future. And I’m not claiming they will again, but yeah.
So we really do not need to do any strategic check.
Operator
Okay. All right, thank you. And which product categories have been impacted by memory chip shortages and have you been able to pass on those cost increases or benefit from any inventory gain?
Atul Maruti Dumbre
So it is very. So any product which have memory. So I think mostly development boards or drone controllers, they have all been impacted and enterprises have increased because of memory shortages and about passing the gains to customer or keeping it ourselves as a business we have to be opportunistic to maximize our profits. However, we also have to keep an eye for what other people selling it, for what international markets, how are they reacting? We have some agreements with our suppliers where we may or may not be able to increase the prices and profit.
So I think it’s a balancing act and we just take the decisions at point in time. Of course we don’t want higher profits, but yeah, we have to balance it with the competition as well as the customers expectations as well as the suppliers, suppliers rules and all those things.
Operator
And you mentioned new products that were launched. So what are like agreed room frames and ready to play FPVK and how has been the early market response to this newly launched proprietary product?
Atul Maruti Dumbre
So we have seen market adoption. So whenever we are launching these products, our expectation is that we see some sales in the retail segment and then we get some feedback. So we have launched our Charger drone, Charger Agriculture very recently. Then we have some ESCs of our own, we have some video transmitter receives of our own. So we are seeing good initial response for some product, moderate initial response for some other products. However, what the expectation is that the products will go into market, we get customer feedback, what’s going well, what features they would like to have, the price and everything.
And we’ll learn along the way. So it is as per expected basis. That’s it I think for now.
Operator
And you collaborated with platforms like Raspberry Arduino to develop smart delect products and what specific product categories are being built under these partnerships.
Atul Maruti Dumbre
So I think it’s out in the public. We are already developing, I think you are talking about RDU what we are doing with Arduino. So we are developing the educational kit from school level to the university level, according to the syllabuses that are taught in universities or schools and colleges. And that’s a very normal thing. I don’t want to get expectation high suddenly because this is happening because it’s very common. We have been doing this with multiple brands since we started. So I think it is a part of the business, nothing new.
And we do not expect it to have a substantial impact on our revenues in short term or long term for that matter.
Operator
So I saw one product called Raspberry PI Neo Board. So are these in line with the existing products or these are new products that are being built?
Atul Maruti Dumbre
I think it is some misunderstanding about that product. So basically Raspberry PI is also a silicon company. They make RP2040 as a IC. So 24 or 2350. So that IC we have used in our product. So basically it’s a Smart Elix. So as a part of Robo 2.0 we have this smart LX modules which are small, small 300 modules in our portfolio right now. They are small products starting from 100, 200 rupees to 2,000 rupees. One of those modules, one of those 300 modules uses the raspberry PI silipad raspberry PI taic.
And whenever you use Raspberry PI C, you can name your product as Raspberry PI 2350 development board, whatever. So it’s not some association with Raspberry PI, it’s just a very normal thing. I think the board sells for 5, 600 rupees, so it’s not something very substantial.
Operator
And just one last question. SmartElect products are also being sold on product marketplaces like Amazon through players like robocrane. So just wanted to know your thoughts on that.
Atul Maruti Dumbre
That’s good to hear. We have planned. It’s something that we are making in India and India is a big market. Why wouldn’t we like it to be sold in as many places as popular so that. Sorry, as many places as possible so that it become popular and we get more traction for our products. Better branding for smartelets. I mean that was the whole point of calling it Smart select and not Robo modules so that we can distribute it to other people as well.
Operator
Thank you so much. I’ll get back to you.
Atul Maruti Dumbre
Yeah, thank you.
Operator
Thank you. We’ll take the next question from Aman Soni from Envis Analytic Advisory llp. Please go ahead. Misses Sony, you may please proceed ahead with the question. Mrs. Sony, you may unmute and proceed with your question as there’s no response from Mr. Sony. We’ll proceed ahead with the different questionnaires. Our next question come from the line of Ormisha from Money Wiser. Please go ahead.
Atul Maruti Dumbre
Yeah. Am I audible? Yes, you’re audible.
Bhumika Maheshwari
Yeah. My question is on the previous participant question
Operator
Only on Robo 2.0. Could you just elaborate because you have mentioned that your long term goals for five to 10 years that is why you are aligning Robo 2.0. So what’s your goal? I mean in terms of revenue share, how much from your own proprietary product do you expect in the next three to five years? How is the order inflow and order size? If you can just quantify as a ballpark number.
Atul Maruti Dumbre
Okay, so we are not giving any revenue numbers as of now for Roku 2.0 because I think Roku 1.0 itself is a huge revenue and if we start putting so right now the strategic approach. Requirement. So we started I think roughly two years ago. We started with two, three segments. One was drone, second was modules, third was sensors. So far we have seen the best response for drone products. As I have already mentioned earlier that the response is both from retail market. We see some traction from government side.
We see some traction from military side. So it’s still finding its place. We have allocated a lot of, I’ll not say lot of but we have allocated resources accordingly. So currently our focus area, you can see in robo 2.2 major focus area is drone second. Second is smart Alex. But because of the geopolitical situation. It’s steadily growing. So this is where we are two years down the line. Revenue wise. Fortunately for us. I mean I’m very happy. Nothing to complain. I mean it will be really. You have
Operator
Mentioned it on your slide in next five to 10 years. That’s why I asked you
Atul Maruti Dumbre
Should ask. We always like to talk more about it however, I mean we are very clear on this. This is product Banana Unko Popular Karna. That is a totally different dynamics. That is a totally different if you say business kind of thing. We are doing that because in long run past 210 years they take team. This distribution business eventually will scale hotarayaga. So there’ll be margin pressure. There will be competition which will be increasing. So that will give us cushion substantial revenue. So we’ll be very happy with it.
I mean why wouldn’t we want it? And we are happy at the point where we are. I think we are on the right track revenue side. But investors ah, overall revenue split. And
Operator
Definitely
Atul Maruti Dumbre
There will be time when we’ll be sharing the revenue.
Operator
Impact if the margins are going upwards when Robo 2.0 meets your targets internal target. So how much? I mean, I guess I know you will not give a guidance currently it’s too early. But if you can just quantify because our margins are quite healthy that way.
Atul Maruti Dumbre
At least 10% margin in gross margins. Okay, so that is, that is what we are targeting. Regular margin, extra margin and margin. Just your revenue proportion compared to overall business. And then it is what it is. We are honest people, honest company. So it will be what it is or what it will be.
Operator
Good. Cool. I’m just, I’m new to the company, so could you just tell me what are the OEM products in pro range? I mean because we have added 650 SKUs this time. So what are those products? And you know, how are we bullish on that?
Atul Maruti Dumbre
So if you talk about RoboCopado, I’ll just give you currently USNA. One is our satellite products, other is our simplified products and then our pro products, Different segments. Is something that we have been doing for last I think four or five years. So USME sensors, I think so those sensor. Then. Which propellers? Measuring instrument multimeter.
Bhumika Maheshwari
Okay, okay, that helps. Thank you. I joined up the questions.
Atul Maruti Dumbre
Thank you sir.
Operator
Thank you. Our next question comes from the line of Paringala from Segwan. Please go ahead.
Atul Maruti Dumbre
Sorry again harping on the same question on drones a little bit and all. I understand it’s preliminary and everything, but can you just explain in drones what exactly have you developed? And when you say in the different sector, you know, right now there is. The sector is very hot and there are a lot of inquiries and there’s a lot of competition also.
Operator
So what are you doing there and are you collaborating with somebody? Are you directly engaged with the defense ministry or how is it working?
Atul Maruti Dumbre
Okay, so I’ll explain that scenario. So basically in drone segments, two years ago we started making our own products and then I think as you said, the sector is very hot. We started receiving inquiries. So we started working with defense directly. As of now we are working directly and we are supplying some low value and low volume products to them. The strategy right now is. So there is a vast array of drones. It’s just like saying, because. I think I don’t want to share the details. Exactly. He ached to excuse her mother.
So if we crack that, so we will have a sustained long term business system that is the whole strategy or philosophy. On the other hand, we don’t want you guys to get too much excited. I don’t know I know it will have a good impact on share and all this but I don’t want to do that. But substantial impact I am foreseeing either will be in or out of that disease. So we are trying our best developing new product. As you said there is a lot of competition because hot segment. So that is the situation as of today.
Sure. Thank you. Thank you.
Operator
Thank you. Next question comes from the line of Yogesh Bhatia from Sequent Investment. Please go ahead.
Atul Maruti Dumbre
Yes sir. Hi sir. I actually wanted to understand that we have grown, you know from a 30 crore top line in 56 years to 300 crore top line company. So what is the addressable market of the products
Operator
That we sell? Because you know it’s quite niche products that we are selling. So and
Atul Maruti Dumbre
Wanted
Operator
To understand that what is the you
Atul Maruti Dumbre
Know, TAM that we think is available for the products that we sell or we can sell going forward. Thank you for this question. Because if you go two years before today there was no drone and there was no hot segment called as drone. 3D printing technologies. Because we are into new tech and those kind of businesses. There are no conventional setups and conventional models in this we have tried but convincingly having said this, there are international companies. Somebody like Digikey Mouser Arrow or Parnell element 14 jinka India maybe.
So those companies are doing like Digikey is I think doing 2 to 5 billion dollars. It’s a different number. But yes, I think they are doing 2 billion, 3 billion revenue here. I’m talking about 16,000 crore. But we cannot take the vehicle exact same here. It’s very tricky. By 2030 will have around 10,000 road Caspers in data market. Again market has.
Operator
Or if they are not bulk orders then are there lots from education institutions or from research institutions or from you know people who are prototyping trying to understand, you know,
Atul Maruti Dumbre
Hobby education, research and engineering. So that is one market which is very small segment, small revenue. For us right now. Directly school, college, the 20 30% sales would be coming from educational institutions for this kind of. I mean we have stopped giving the breakup of the revenue because of the competition thing. But yes, I would say that this is one of the customer base. Then second is research. And then engineering. Engineering is something which is going for production. And in long term very high volumes.
Karma but I’ll say proportionally long. So this is overall business of RU and the overall customer base of I would say.
Operator
And do you only sell products which are with you in inventory or depending on the requirement you can import and then Sell it also. So you are like you know more efficient just in time.
Atul Maruti Dumbre
Yes, yes. Yes. Which is of course more advantages for. I mean I can just back to back how how
Operator
Much of your order generally would be an order which can get. And you know people are okay with 15 days, 20 days delivery time.
Atul Maruti Dumbre
So most of the orders we serve from our inventory because as I said. So even in our case high volume is product quantity. Product or quantity. So because we are doing business for almost more more than a decade now more or less. That is also what is customers preferences. Quantity and then they waiting for whatever generally around month s to get the product.
Operator
Okay. And do you think that the fast growth can can be achieved or you think it can plateau Because Frank is not able to understand the size of the market only. So you think.
Atul Maruti Dumbre
I’m a. I’m a realist. So maybe. Resources. However we believe saturated Oga Joe market electronics online. So that. I mean I would love to have it as long as possible but yes. Your game is as good as mine sitting today I. I can see electronics. Will be the way and. I think it’s a good segment. Good high growth segment.
Operator
All the best sir. And I think you will definitely do well
Atul Maruti Dumbre
Because demand is there. We can’t understand but I think it is definitely there.
Operator
Thank you. Thank you. Our next question comes from the line of Rohit
Atul Maruti Dumbre
Prakash, an individual investor. Please go ahead.
Operator
Thank you for the opportunity and amazing performance as always. My first question is. I mean as you indicated that the growth is remaining strong. But if you continue to grow the same way we would have to take more debt to fund the growth. So in terms of debt to equity ratio we are already probably at the highest we have ever been. So any thoughts on till where we are willing to be comfortable to take on debt to grow or at some point do you think you will need equity? Any thoughts on that?
Atul Maruti Dumbre
Thank you Rohit Ji for this question. So we are. We are not worried about the debt anytime like so we are never worried about the debt for company because most of it or almost we convert it into inventory which inventory we are going to sell and make revenue per company. So I think it is part and parcel of our business model. So it is a very low risk debt if I understand my business model correctly. And. Let’s say. So because our fundamentals are strong. So we are never worried or afraid of debt.
We are confident. So once that happens I think our system will automatically take care of it. Secondly, our inventory management is very good. So we have been focusing on building a good Inventory management system and we are happy. So I think with these strong fundamentals we. I would not say we don’t care. We do care about that but we are not afraid. That’s a business opportunity. That’s our strength. Inventory, that’s our strength. Curated products is our strength. And I think with this. But thank you.
We don’t have to worry anything about it.
Operator
Understood. So similar. Any question or thought from the bank? I mean we have a 90 crore equity which will get to whatever number, let’s say down the line. Do they say we have not comfortable giving data? No conversation like that at this point in time.
Atul Maruti Dumbre
So as I mean they are comfortable as long as they see the revenue. So banking partner, I think same banking partner and every year whenever we are having more debts. So I think with these numbers around us they are very comfortable with debts. I don’t remember conversations where they are uncomfortable with these ratios and everything. I think it’s how well you are converting it into revenue. As long as it is happening everyone is comfortable. U.S. Banks, investors. I think the focus should be on that.
Operator
No, no. Perfect. Thank you. That was helpful. So I want to follow up on that average order value question. Very strong growth in the average order value. Right. So year on year growth itself is quite strong. Like we were up for 5,000 or something last year. I mean last quarter we said about 7,000 but let’s say more than 6. Between 6,500 to 7,000 right now.
Atul Maruti Dumbre
So is that
Operator
Order, I mean are we bumping up orders or is it that the overall average order value is increasing and why is it, I mean how is it increasing so strongly? I would agree. I would understand a number of orders increasing. Because we’ve also already discussed the trend of. I mean we are in the right market in terms of trends and a lot of things are hot. But how is the average order value increasing and is the number sustainable and is the growth sustainable?
Atul Maruti Dumbre
Rohit, I think we have. There are two sides to it. I think one is overall the Indian market is maturing. There are a lot of companies who are working in electronics. They are growing from startup to middle companies also from mid to high. So since we are catching them early and serving the requirements when they are small, they trust us when the requirement goes. Secondly, Number of customers but same customers in electronic segment. Components from the adkir. So I think it is more of. Creeping low.
So it’s more of that kind of phenomena. Yes. We would also like to take a small credit. Small 1. Strategic decisions to increase average order value. So I Would not like to discuss. I’m
Operator
Sorry to interrupt you sir, but your voice is breaking.
Atul Maruti Dumbre
Okay. Is it better now?
Operator
No sir. Still breaking? No sir. I’m so sorry.
Atul Maruti Dumbre
Yes. Is this better now?
Operator
Yes sir, we can hear you.
Atul Maruti Dumbre
Yeah, so I was just saying. Plus some other strategic decisions. I think that answers your question.
Operator
Yes, yes. And I think we’re close to lifting main board lifting three years is up and I think we meeting the network requirement also which I remember it from 75 crore. So are we there and what is the plan
Atul Maruti Dumbre
Here? So. And from day one we are giving Q3 result I think maybe first time sorry quarterly results. At this point in time obviously. However we don’t have any specific date or time in mind as of now whenever we have we’ll have any update regarding to this we just announce it publicly. I think that’s the best way to do it.
Operator
Perfect. And last question on margin. So again a very healthy margin. Gross margin is 24 which is among the best we’ve done and even fat margin also among the best. So with scale are we getting the scale advantages and these margins are sort of sustainable going forward.
Atul Maruti Dumbre
Margin we have taken conscious effort during last year to put or put on margin and say margin. So we have put our foot and set ourselves. I think it has worked well in last year for us and we believe rather we hope it will work in future as well. Let’s see, it is a very I would say market dynamic they say. So then we’ll obviously have a little bit leverage in margin if you remember. But we are getting better margins out of that category. So these kind of efforts we have taken and there are some market factors as well.
So these are cumulative effects. We would like to keep the margins as that. However,
Operator
Thank you as always very helpful conversation. Appreciate it. Thank you and all the best.
Atul Maruti Dumbre
Thank you. Thanks a lot. Thank you. Our next question comes from the line of
Operator
Parmisetti,
Atul Maruti Dumbre
An individual investor. Please go ahead.
Operator
Hi. Thank you for the opportunity. So in terms of I was trying to understand our own branded products. I understand right now they’re investing and seeing how it is going to go. So at this point of time how much are you investing into this and what is the kind of outlay we expect to invest in the next year?
Atul Maruti Dumbre
Thank you Parvikji for the question. So we are not investing in terms of either equipment or in terms of inventory in those products compared to our main business. So Abidjo investment salary it is the team that we are building rather we have built for development of these products just to Give you a rough idea, maybe Dosalpani development. Now we have a strong team of roughly 20, 25 people, whatever three, four brands that we are doing combined. So that is number one. Second I think is the investment in terms of my Binos and Nilesh time and attention.
So it’s a conscious effort. The team knows it is important and I think these are the key investment that we are doing. Mostly it is in the product development and product development team plus our time and attention. I think three, four years down the line. We think it will help us to control margins in a better way. Plus 10% expectation, general margin distribution only products simply fly easy. And we are, we. We are. We have been able to do that so far. And then market acceptance, I think that is a bit tricky.
So just time, time will have to tell us we want to scale it. Let’s see. And I, I hope for the best.
Operator
Okay, understood. So you mentioned that in this business team is a big part, right. So in terms of scaling our revenues, team will also play a huge part. So are you actively hiring more people or with the existing. I’m not talking just about the own brand products. I’m talking about the remaining team who are running Robo as it is like the Robo 1.0 which is going forward. So are we going to aggressively hire more people in terms of. To grow sales or how are we going to grow sales? I understand that you can do development and all of that, but it’s mostly people thing, right?
They have to develop their own sources and customers. Could you explain how are you planning in terms of team and growing the pie from there
Atul Maruti Dumbre
The last four, five years. We try to reduce it slightly lower because. Double Customer New Day 1.2 but 5 times, 1.6 times. And we got a hang of it now I think that is where we calculated. Because. So I think we are more aggressive when it comes to Ruby 2.0 and more conservative when it comes to Robo 1.0 in terms of at least manpower development.
Operator
Understood. And one more thing, in terms of the margins, you mentioned that the own brand, once it develops is likely to help with the margins. So when you mention the 10%, is it 10% higher than our existing gross margin or with 10% extra? So it’s. Let’s say if it’s 25 today, it’s 35 for that or is it only like 27.5?
Atul Maruti Dumbre
No, it’s roughly 10% extra than our existing gross. So that you have a 24, 25 or up to 34, 35. That is the expectation from our own branded products and that is when it will cut off. Right. So overall revenue let’s say five year down the line. I’m not number just an example extra margin or comparatively expenses plus percent 120th percent is 1 20th to 120th is marginal Delta margin higher side to make Overall Revenue Margin Contribution 10%. And I think you guys know it better than me. 6% pack level value company or art percent I think we are just striving for that plus 1 2% in long run.
So that is the whole. That is the whole philosophy and second is control. It helps us new product. So all those factors are also there.
Operator
Got it. And in terms of the company positioning in the last year, two, three years we’ve been grew quite a bit and but there also have been existing credits that are also growing at equal pace or let’s say little lower than Robo in terms of execution. Could you give a idea on like what kind of market share we might occupy in some of the segments at least the popular segments and how are the other people competing? So in terms of understanding overall market because it’s extremely market especially locally.
So could you explain on how the market how the market is pushing Robo and where do we want to be?
Atul Maruti Dumbre
I think. It’s very difficult to reach to a number 50 market share 70% I think maybe 10 years down the line. I don’t know maybe then you can say okay, you say international market digikey is the king digiki revenue. But those companies are like celebrated 50 years of the rep exist on just I think 20, 23 or 24. So 10 years down the line and then we can better discuss these numbers. Number one, I think it is very hard to convincingly put a number to it
Operator
But at least could you tell like how the market is split. So let’s say organized players like you and Millennium and versus let’s say more unorganized smaller players versus the international players like Mozart. Because Mozer and all these people also have basic presence with website or like a basic team. Right. So could you explain how it is split between these three categories?
Atul Maruti Dumbre
So since you’re insisting I think positioning local market, unorganized market positioning come SK special agents. Higher volumes distribution model projects. I don’t think. If I’m not wrong. So overall business model or revenue same with the local markets. Yes, there are some three, four players. And we know. That will happen. But right now we don’t see any players.
Operator
Got it but understood. So one more thing I want to ask is in Terms of exclusive partnerships we’re making with some of let’s say the component makers because in this business SEO curation is one thing and the exclusivity of a product also can play a huge one. So do we have any exclusive partnership of such or those things might not be in the future. Could you explain that
Atul Maruti Dumbre
There are some exclusive partnership But I’ve been telling this time and again exclusive partnership they don’t mean a lot market like India. So yahape partnership generally I recommend brand. Substantial to only 50, 60% of the so then I’ll go and talk to the brand and ask them. I think. Because we are working with so many brands and so many products I think. That is. That is how I feel about this.
Operator
Understood. So basically in terms of SK edition, did we do any substantial SK addition this quarter or like this year?
Atul Maruti Dumbre
Every year we keep on adding new SKUs. I mean that is adding the sqs is part and parcel of our business. I think numbers but abivo utre numbers but yes, doing this revenue requires us to add SKUs. It eventually leads to new SQ addition. It’s a result of targeting a particular revenue for a category or a segment. It’s. It never starts with. So I think part and parcel of the business and I’m not sure with the number but. Hello?
Operator
Hello. Yeah, take the next question come from the line of Swaraj from Perpetual Capital Advisors. Please go ahead.
Atul Maruti Dumbre
One question was
Operator
On the line in terms of warehousing capacity do
Atul Maruti Dumbre
We have enough
Operator
At the current Infra2 fund growth for coming years or are we looking at expanding?
Atul Maruti Dumbre
We are always looking for expanding because one thing which is unavoidable with this kind of growth is the higher the number of you have proportionally higher space you need to keep them proportionally higher space you require to manage the shipments. I mean until and unless you just think of some automation which will reduce the. Which will increase the page requirement obviously will reduce the mantra requirement but yes, increasing our warehousing space, increasing our order processing capacity has been part of our annual targets since I think day one.
So it’s always part of the business, part of the game investment or I think we’ll have to take a leap of faith at some point in time. I think time to time.
Operator
Any plans for this and any capex that you’re planning this year for the warehouse?
Atul Maruti Dumbre
Not as of now. Not as of now.
Operator
And one thing was average monthly visitors they were I think 723582 in December and 891 around in March 26 but average for H2 was far lower at around 6 lakhs. So was there a steep decline in January and February and what explains this decline? So was there an element of seasonality or.
Atul Maruti Dumbre
I think at the end of my presentation. It’s not the right data would not be appropriate to talk on that. Yes, they are going to next week we’ll update the data. I think it will just remove this question from your network
Operator
And a number of unique customers. How much was it in quarter four and what initiatives are we taking to expand customer base?
Atul Maruti Dumbre
I don’t think I have that number on hand for quarter four annual Johan that is 1.85 lakh roughly last year 1.45 lakh. 1.85 lakh and it is not part of our KPI sales revenue brand segment growth because there are hundreds of things that you can track so majorly Hamara sales revenue brand growth segment growth. I think this new customer and new extra new customers and more orders it falls into place automatically. Sorry,
Operator
You said new customer and
Atul Maruti Dumbre
Number of customers growth and number of orders growth automatically fall in place because revenue margins category growth of Zada product growth and we know Kia numbers of NAP growth. Marketing maybe exhibitions or we could brand marketing activities. Marketing activities marketing budget. However.
Operator
Okay. And you said we are deploying all our debt for inventory currently rightly. But how do we optimize inventory date going forward such that the transition. So what it becomes a transition towards sustaining accrual for inventory other than debt.
Atul Maruti Dumbre
So I think increasing debt is a function of how fast we are growing. As I said earlier Hamara system set here calculate Kirk. I think. We are. We have nothing to worry about and inventory rotation is. It’s always the target to keep on reducing inventory rotation days I don’t want to share the number internal target but yes sir, that is one of the key parameter along with selling even on company level inventory optimization. So what about the revenue with margin and inventory?
Operator
I think small number of SQ is added so I think a slowdown of inventory that has increased from 2.5 to 6 point something so could you provide key breakdown across product categories and steps slow moving inventory let’s say industry let’s say 6% to 10%.
Atul Maruti Dumbre
And. We are okay with that. I mean that was a. It is not aftermath. It was a calculated move. It was a one time thing. Delta hair that is from the component category and rest is under control so we have nothing to worry about it. That is. That is how. That is the thought process behind it. So I think we are okay with that. It’s a calculated move.
Operator
And what would be a normal industry range of that which is an optimal slow moving inventory.
Atul Maruti Dumbre
It’s out in the public and or I think it varies very vastly. It’s company to company. I would not like to share the numbers here but yes, there is no industry standard matter.
Operator
Okay, no problem. Thank you. And last question was what proportion of short term loans and advances relate to advance given to suppliers in FY26
Atul Maruti Dumbre
Generally supplier. So it’s not advanced such as. So you can consider it as material in transit.
Operator
But what would be the number for FY26 that
Atul Maruti Dumbre
Doesn’t matter, keeps on fluctuating based on day you look into it. So it is what it is because it just Matalin Transit. So I don’t think.
Operator
Thank you so much. All the best.
Atul Maruti Dumbre
Thank you.
Bhumika Maheshwari
Thank you. The next question is from the line of Chinmay Nema from Prussian Capital. Please go ahead.
Atul Maruti Dumbre
Yes, yes, Chitmiji.
Operator
Since they’re not giving the split between B2B and B2C could you give some directional understanding as to how much each of these segments have grown or some color around basically how each has done individual.
Atul Maruti Dumbre
It’s a bit tricky one because we have already decided. That is key in long term. We always see B2C customer that will be more of placing low value but higher number of orders or Marijo B2B customer that will be missing high value but less number of customers in that sense. So percentage revenue major proportion until it settles down to particular number. I don’t know which number and number of orders may online proportion. I mean that is the best that I can tell you
Operator
Got it. And secondly the increase in. If I compare the working capital day to the end of last year there’s some 20 or day increase. I mean I think this is a repeated question but like could you explain which which component of the business is driving this part?
Atul Maruti Dumbre
As of now I. I don’t have the relevant data and hand to explain this but maybe you can reach out us to us on mail and then look into the relevant data and reply you with the right data appropriate facts. Okay, sure. Thank you.
Operator
Thank you ladies and gentlemen. We will take that as a last question for today. I would now like to hand the conference over to Prabhu Maheshwari for closing comments over to you.
Bhumika Maheshwari
Thank you Dhanesh. On behalf of Insecurities Ltd. I would like to sincerely thank the Maxforce management team for taking the time to join us today and for responding to all the queries in such a detailed and insightful manner. I would also like to thank all the participants for joining this call and for their active participation with this. I would now like to hand it over to Danish for closing remarks.
Operator
Thank you on behalf of Haim Securities Ltd. That concludes this conference. Thank you all for joining us. You may now disconnect your lines.