SEDEMAC | ENGINE CONTROLLERS + EV SOFTWARE 🚀
Software Is The Moat
- SEDEMAC develops engine and motor controllers.
- Controllers manage engines, generators and motors.
- Software determines operating speed and response.
- Software controls generator starting behaviour.
- Algorithms respond to heat and load.
- Customer approvals create switching barriers.
- Retesting alternatives requires time and money.
- Company holds 12 technology patents.
Strong Market Position
- SEDEMAC dominates generator controller applications.
- Holds ~75% Indian generator market share.
- Holds ~14% global generator market share.
- Supplies engine controllers to major customers.
- Covers ~35% Indian 2W/3W market.
- Over 80% new ISG chip growth came from SEDEMAC.
FY26 Financial Performance
- FY26 revenue reached ₹1,058 Cr.
- Revenue grew 61% YoY.
- Controller sales approached 4 million units.
- Lifetime controller sales crossed 12 million units.
- Company is now almost debt-free.
- Capital efficiency remains strong.
- ROCE is around 40%.
EV Controller Breakthrough
- EV controller revenue reached ₹68 Cr in FY26.
- Previous-year EV controller revenue was ₹10 Cr.
- Revenue increased nearly sevenfold.
- Around 1 million electric 3W controllers deployed.
- Deployment took 28 quarters.
- EV 2W opportunity is growing rapidly.
- Existing manufacturing base supports expansion.
Existing Business Funds EV Growth
- Generator business remains a major cash generator.
- Engine controllers remain another core business.
- Cash flows support EV controller investments.
- Same factory can support multiple product lines.
- Existing customer relationships provide distribution leverage.
Q1 FY27 Momentum
- Q1 FY27 profits nearly doubled YoY.
- Growth indicates continued operating momentum.
- Generator business continues generating cash.
- EV investments remain a key growth focus.
EV Growth Opportunity
- 2W and 3W electrification expands addressable market.
- Controller demand increases with EV adoption.
- Existing 3W penetration provides a strong base.
- 2W EV growth offers another opportunity.
- Software expertise can support new applications.
KEY TAKEAWAY 🎯
SEDEMAC's core advantage lies in proprietary control software, customer qualification and installed base. Generator cash flows are funding a rapidly expanding EV controller business, creating a transition from conventional engines toward electric mobility.
1September 26, 2026 4.5K 22
