Financial Performance - Consolidated (₹ in Mn)

Q2 FY27 Performance

  • Revenue from Operations: ₹304.59 Mn (Q2 FY26: ₹173.31 Mn) - 75.75% YoY growth
  • Other Income: ₹4.14 Mn (Q2 FY26: ₹1.04 Mn)
  • Total Revenue: ₹308.73 Mn (Q2 FY26: ₹174.35 Mn) - 77.07% YoY growth
  • Total Expenses: ₹279.71 Mn (Q2 FY26: ₹156.32 Mn)
  • EBITDA: ₹24.88 Mn (Q2 FY26: ₹16.99 Mn)
  • EBITDA Margin: 8.17% (Q2 FY26: 9.80%)
  • Depreciation & Amortization: ₹12.12 Mn (Q2 FY26: ₹9.95 Mn)
  • Finance Cost: ₹10.07 Mn (Q2 FY26: ₹5.25 Mn)
  • PBT: ₹6.83 Mn (Q2 FY26: ₹2.83 Mn)
  • Exceptional Item: ₹0.00 Mn (Q2 FY26: ₹0.00 Mn)
  • Tax Expense: ₹0.13 Mn (Q2 FY26: ₹0.05 Mn)
  • PAT: ₹6.70 Mn (Q2 FY26: ₹2.78 Mn) - 141.01% YoY growth
  • PAT Margin: 2.17% (Q2 FY26: 1.59%)

H1 FY27 Performance

  • Revenue from Operations: ₹570.06 Mn (H1 FY26: ₹325.28 Mn) - 75.25% YoY growth
  • Other Income: ₹5.19 Mn (H1 FY26: ₹2.22 Mn)
  • Total Revenue: ₹575.25 Mn (H1 FY26: ₹327.50 Mn) - 75.65% YoY growth
  • Total Expenses: ₹526.00 Mn (H1 FY26: ₹294.72 Mn)
  • EBITDA: ₹44.06 Mn (H1 FY26: ₹30.56 Mn) - 44.18% YoY growth
  • EBITDA Margin: 7.73% (H1 FY26: 9.39%)
  • Depreciation & Amortization: ₹23.77 Mn (H1 FY26: ₹19.25 Mn)
  • Finance Cost: ₹16.77 Mn (H1 FY26: ₹10.46 Mn)
  • PBT: ₹8.71 Mn (H1 FY26: ₹3.07 Mn)
  • Exceptional Item: ₹0.00 Mn (H1 FY26: ₹6.28 Mn)
  • PBT (after exceptional): ₹8.71 Mn (H1 FY26: ₹9.35 Mn)
  • Tax Expense: ₹0.13 Mn (H1 FY26: ₹6.09 Mn)
  • PAT: ₹8.58 Mn (H1 FY26: ₹3.26 Mn) - 163.19% YoY growth
  • PAT Margin: 1.49% (H1 FY26: 1.00%)

Management Commentary

Mr. Shivaji Akhade, Founder & Managing Director, commented on the performance:

  • Revenue growth driven by higher customer volumes, improved programme execution, and increasing manufacturing utilization
  • EBITDA growth of 46.44% YoY with margin pressure attributed to elevated costs from geopolitical developments in Q1 and business mix
  • Company addressing challenges through operational efficiencies, improved capacity utilisation, and better fixed-overhead absorption
  • Focus on further margin improvement in H2 FY27
  • Continued strengthening of business pipeline and customer relationships

New Business Awards

  • Secured new business awards from Tata Motors Passenger Vehicles Limited for hatchback and SUV components
  • Covers both ICE and EV applications
  • Estimated annual incremental revenue potential: ~₹180 crore
  • One-time tooling revenue potential: ~₹30 crore

Operational Focus Areas

  • Disciplined programme execution
  • Capacity readiness
  • Adherence to highest standards of quality, cost and delivery
  • Higher capacity utilisation
  • Better fixed-overhead absorption
  • Operational excellence across manufacturing facilities
  • Strengthening cash flows through disciplined working capital management
  • Improved receivables and inventory control

Guidance

  • Targeting ~30% - 40% CAGR growth in revenues for FY27
  • EBITDA margin expected to increase to ~10% plus for FY27

Company Background

  • Established in 1996, automotive component manufacturer based in Pune, Maharashtra
  • Offers 3,000+ product SKUs including sheet metal components, sub-assemblies, and assemblies
  • Products include exhaust systems, tubular structures, door panels, cabin panels, substructure, long member assembly, foot control modules, parking brakes, and hinges
  • Manufacturing facilities in Maharashtra, Uttarakhand, Karnataka, Tamil Nadu, and Gujarat
  • Production capacity: 1,75,000 MTPA
  • Diversifying into non-automotive sectors: solar energy, e-mobility, railways, and construction equipment

Disclaimer

  • Contains forward-looking statements subject to risks and uncertainties including government actions, political/economic developments, and technological risks
  • Company not responsible for actions taken based on statements and undertakes no obligation to update forward-looking statements