boAt Expands Overseas into Sri Lanka and Bhutan as Global Revenue Surges in FY26

boAt, a consumer electronics brand set to go public soon, is looking to grow internationally and has expanded into Sri Lanka and Bhutan. With a portfolio that includes personal audio, smartwatches, and charging solutions, boAt is launching in both markets. The company plans to expand its offerings in response to local consumer tastes and market needs.

According to the company's FY26 results announcement released in August, overseas sales more than quadrupled to INR 45 crore in FY26, up from approximately INR 20 crore the previous year. Revenue from operations for boAt was INR 2,931 crore in FY26, down 5% from 3,073 crore INR in FY25. That amounts to around 1.5% of the total. The company's sales fell for the third year in a row in FY26.

boAt 2.0 Business Strategy to Drive Revenue

As part of its "boAt 2.0" strategy, which aims to go beyond personal audio, boAt is focusing on expanding into international markets and developing new categories of consumer technology. For boAt, expanding internationally is not about stocking more shelves with the same products, according to CEO Gaurav Nayyar. Constructing a presence in each geographic region requires going market by market, learning about local consumers, and being relevant.

In addition, he pointed out that the firm's goal is very clear: to transform boAt into an Indian consumer lifestyle-tech brand that dominates in the worldwide market through superior products, designs, innovations, and brand awareness. Both nations expand boAt's reach in Southeast Asia and the Gulf Cooperation Council. Its primary Gulf markets are the United Arab Emirates and Saudi Arabia, with further sales in Nepal. According to its revised red herring prospectus, which was submitted in October 2025, boAt had initiated pilot operations in Nepal, Sri Lanka, and the United Arab Emirates.

boAt Recent Market Performance

As it explores new geographies in South Asia, Southeast Asia, and the GCC, boAt intends to strengthen its foothold in current international markets. More than a hundred engineers work at its R&D centre, boAt Labs. This growth comes after boAt increased its profit margin last year despite a decline in revenue. From INR 61.1 crore in FY25 to Rs 84.5 crore in FY26, the profit after taxes increased by 38%. The segment profit for the wearables business increased from approximately INR 7 crore to almost INR 54 crore.

While the overall profit was INR 14 crore, the area that deals with charging solutions, connections, and games saw growth to over INR 46 crore. At the end of FY26, the firm had a cash balance of around INR 397 crore and no debt to the bank. Here at home, sales are down. According to IDC's India Monthly Wearable Device Tracker, shipments of wearable devices in India declined 7.4% year-on-year to 24.7 million units in the April-June quarter.

This decline was even more pronounced than the 1.1% decline in the January-March quarter. While smartwatch shipments were at 6.4 million units, the biggest category, earwear, saw a 9.1% decline to 18 million pieces. According to IDC, the market has already shrunk 4% in 2025, reaching 114.2 million devices, marking its second consecutive year of decline.