Osel Devices Limited — Investor Meet, 29-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

OSEL Devices reported H2 FY25 revenue of INR99 Cr, split 55% hearing aids and 45% LED displays. The new Philips mobile and tablet license, fully handled by OSEL, is set to contribute ~30% of revenue from FY26, aiming for 15%-20% EBITDA margins in that segment. Management targets a 25% CAGR, driven by volume growth and retail expansion in hearing aids. Order book is around INR40-45 Cr, with rising export focus supported by a new JNPT facility. Receivable days rose to 30%-35% of sales, mainly due to LED project sales. PAT margins are expected to hold steady as revenues scale.