Umiya Mobile management trips up on B2B revenue figures
While FY26 revenue climbed 47% to ₹884 cr, management provided contradictory data on B2B contribution during the earnings call.
— 5 earlier stories on Umiya Mobile Ltd. →What's new
- Management stated B2B revenue is 26-27% of total, contradicting prepared remarks of 73%.
- Net profit tripled to ₹19.2 cr in FY26.
- The flagship Rajkot store generates ₹14-15 cr annually.
Why this matters
Conflicting data on core metrics undermines management credibility. Investors should treat the revised 26-27% figure with caution until the company provides a consistent reporting framework.
What we're watching
- Whether the company clarifies the B2B revenue discrepancy in future filings.
- Progress toward the 3% EBITDA margin target by 2028.
- Growth in insurance and value-added services to the 10% revenue target by FY27.
The full read
Umiya Mobile reported a strong FY26, with revenue rising 47% to ₹884 crore and net profit nearly tripling to ₹19.2 crore. The earnings call contained a significant internal contradiction. Management initially claimed B2B revenue accounted for 73% of the total, only to revise that figure to 26-27% during the Q&A session. They now target a 35% B2B contribution within three years. The company identified its flagship Rajkot store as a record-setter, generating ₹14-15 crore annually. Management aims to lift EBITDA margins from 1.8-1.9% to 3% by 2028 and grow insurance and value-added services to 10% of revenue by FY27. The discrepancy in basic revenue reporting is a red flag. When management cannot provide a consistent figure for a core business segment, the reliability of their long-term guidance is the next test.
Questions answered
- What is the actual B2B revenue contribution?
- Management clarified during the Q&A that B2B revenue is 26-27% of the total. This contradicts their initial prepared remarks, which claimed a 73% contribution.
- What are the company's margin targets?
- Management expects EBITDA margins to expand from the current 1.8-1.9% to 3% by 2028.
- How did the flagship store perform?
- The Astron Chowk store in Rajkot generated ₹14-15 crore annually, which management claims is a national record for a single-premise store.
- What is the outlook for value-added services?
- The company targets insurance and value-added services to account for 10% of total revenue by FY27.
Story so far
All notes on UML →- 25 May 2026 · 5:18 PM IST Umiya Mobile management trips up on B2B revenue figures
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