• Quarterly growth drivers: Revenue grew 51% and PAT surged 64% in the March quarter, supported by rising demand for AI applications and PCs as well as higher component pricing.
• Laptop and AI demand: Laptops contribute over one-third of overall revenue, with management expecting more than 50% of laptops sold this year to be AI-enabled alongside strong demand for CPUs, RAM, SSDs, and GPUs.
• Leverage and inventory strategy: Net debt-to-equity improved to 0.43 times from 1.5 times in FY23, and the company intends to maintain this level to fund inventory stocking and capture pricing advantages rather than reducing debt further.
• Semiconductor subsidiary plans: A dedicated subsidiary has been created to target multi-fold growth in the semiconductor space across automotive, robotics, drones, and industrial IoT under the Make in India initiative.