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**Business Performance:** TVS Electronics reported Q1 FY26 revenue of INR 96.7 Cr, a 13.1% year-over-year decline. The Products & Solutions Group (PSG) revenue fell 23.3% to INR 64.5 Cr, though it was consistent with Q1 FY25 excluding prior year's project orders. Conversely, the Customer Support Services (CSS) segment grew 18.4% to INR 32.2 Cr, thanks to higher existing customer volumes and new business wins. The company recorded a net loss of INR 3.6 Cr, with EPS at INR (1.90), mainly due to increased depreciation and finance costs.
**Growth Drivers/Strategy:** TVS-E is strategically focused on strengthening its "Make in India" manufacturing capabilities, particularly for IT peripherals, and integrating Electronics Manufacturing Services (EMS). A key strategy involves offering comprehensive single-point solutions by bundling hardware with software, catering to digital transformation needs in sectors like retail and banking, and expanding its robust customer support services.
**Outlook:** Management notes that investments in new business initiatives and capability building, which impacted this quarter's profitability, are anticipated to generate improved returns in the future.