Consolidated Financial Highlights (Figures in ₹Crores)

| Particulars | Q1 FY27 | Q1 FY26 | Y-o-Y Growth | Q4 FY26 | Q-o-Q Growth |

| Total income | 1361 | 895 | 52.1% | 1154 | 18.0% |

| EBITDA | 164 | 123 | 32.7% | 140 | 16.8% |

| EBITDA Margin (%) | 12.0% | 13.8% | -176 bps | 12.1% | -12 bps |

| PAT | 85 | 66 | 28.8% | 72 | 19.0% |

| PAT Margin (%) | 6.3% | 7.4% | -113 bps | 6.2% | +5 bps |

| EPS (₹) | 4.32 | 3.35 | 28.8% | 3.63 | 19.0% |

Revenue Breakdown and Performance Drivers

  • Achieved highest ever quarterly revenue, EBITDA and PAT in Q1 FY27.
  • Consolidated revenue growth of +52.1% year-on-year, reaching ₹1361 Crores.
  • Revenue impact breakdown:
  • Passthrough impact of significant increase in alloy prices: +33.4%
  • Strategic reduction in Wheel Assembly business: -6.6%
  • Overall net revenue growth (excluding above factors): +25.3%

Segment-wise Performance

  • Advanced Braking Systems business vertical: +48% YoY growth
  • Aluminium Light Weighting Precision Solutions: +75% YoY growth
  • Safety Control Cables: +20% YoY growth
  • Export revenue: ₹39 Crore (vs. ₹33 Crore in same period last year)

Margin Analysis

  • EBITDA margin contracted to 12.0% from 13.8% in Q1 FY26 (-176 bps)
  • PAT margin contracted to 6.3% from 7.4% in Q1 FY26 (-113 bps)
  • Margin contraction attributed to "abrupt and phenomenal increase in Alloy prices"

Management Commentary (Kuldip Singh Rathee, Chairman and Managing Director)

  • Eleventh consecutive quarter of robust performance since company listing
  • Company continues to outperform two-wheeler industry vehicle production growth
  • Performance driven by focus on expanding value-added businesses, improving production capacity utilization, and cost efficiencies
  • Expectation that aluminium prices will remain benign in coming quarters, leading to anticipated improvement in EBITDA margins
  • Note: Volatility in alloy prices may affect margin percentages due to denominator effect

Operational and Strategic Updates

  • Technical collaboration with Kyushu Yanagawa Japan successfully implemented at Karoli plant
  • First supply of High Pressure Die Casted Alloy Wheel commenced to Japanese customer
  • Mega manufacturing facility at Karoli ramping up fast
  • New Bangalore facility running at optimum utilization
  • Improved economies of scale and operational efficiencies contributing to better performance
  • Second captive solar plant in Rajasthan expected to be operationalized in Q2 FY27
  • Management anticipates continued growth momentum in two-wheeler sector for upcoming year

Additional Information

  • Quarterly earnings call scheduled for August 5, 2026, at 5:00 PM IST
  • Company describes itself as India's largest brake shoe and Advanced Braking Systems manufacturer for two-wheelers with ~50% market share in OEMs
  • Three decades of track record in supplying critical safety systems and complex precision solutions
  • Offers powertrain-agnostic products in both automotive and non-automotive segments with focus on EV and exports
  • Three business segments: Advanced Braking Systems, Aluminium Light weighting precision solutions, and Safety Control Cables