• The document is a transcript of the Q2 and H1 FY27 Post Results Earnings Conference Call held on November 04, 2026, following the declaration of unaudited financial results for the quarter and half year ended September 30, 2026.
  • Management participants included Mr. Kuldip Singh Rathee (Chairman and Managing Director), Mr. Prashant Rathee (Joint Managing Director), Mr. Aman Rathee (Joint Managing Director), Mr. Naresh Kumar (Chief Financial Officer), and Mr. Manoj Sharma (Chief General Manager - Investor Relations). The call was moderated by Mr. Rushabh Shah from Adfactors PR.
  • The company reported strong financial performance for Q2 FY27 with consolidated revenue growth of 47.5% YoY. After excluding pass-through impacts of alloy price increases (23%) and strategic reduction in wheel assembly business (5%), net revenue grew by 29.5% YoY. EBITDA reached INR185 crores (30% YoY growth), while PAT was INR102 crores (27.3% YoY growth).
  • For H1 FY27, consolidated revenue growth was 49.6% YoY. Excluding alloy price pass-through (27.1%) and wheel assembly reduction (5.1%), net revenue grew 27.6% YoY. EBITDA was INR348 crores (31.3% YoY growth) and PAT was INR187 crores (28% YoY growth).
  • Segment-wise performance in Q2: Advanced Braking System revenue grew 46% YoY, Aluminium Lightweighting Precision Solutions grew 69% YoY, and Safety Control Cables grew 33% YoY.
  • Export revenue showed significant growth, rising 133.3% YoY to INR70 crores in Q2 and 74% YoY to INR109 crores in H1.
  • Key business updates: Regular supply of HPDC alloy wheels commenced on August 3, 2026, to a Japanese customer under technical collaboration. A second captive solar plant of 11.55 MW in Bikaner, Rajasthan was operationalized in October 2026.
  • Management guidance: Expects to continue growing in "high teens" for FY27 (referring to net revenue excluding pass-through impacts). Export revenue guidance increased to exceeding INR180 crores (from previous INR145 crores). Alloy wheel business expected to generate INR80 crores in FY27 and INR240 crores in FY28 from the Japanese customer alone.
  • Capex plans: INR700 crores budgeted for FY27 and INR500 crores for FY28. The company commissioned its 19th plant and will commission the 20th plant around January 14-15, 2027.
  • EV business grew 98% YoY in Q2 FY27, with current EV revenue contribution at 5.9% of total revenue. Management expects EV penetration to reach 20% of the two-wheeler market in the next 2 years.
  • The company stated that no unpublished price sensitive information (UPSI) would be shared during the call.

Additional Notes Section

  • The transcript was enclosed as an attachment to the regulatory filing submitted to BSE and NSE.
  • The transcript contains detailed financial data and forward-looking statements as discussed during the earnings call.
  • The document explicitly states that the transcript may contain transcription errors and the company takes no responsibility for such errors.