• The document contains the transcript of the Q1 FY 2026-27 Earnings Conference Call held on Friday, September 4, 2026, to discuss the Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2026.
  • Management participants included Mr. Rahul Dhoot (Founder and Managing Director) and Mr. Nitin Kalani (Group CFO).
  • Key financial highlights disclosed during the call:
  • Company achieved nearly 50% YoY revenue growth in Q1 FY27.
  • Wiring harness revenue grew 44.6% YoY to ₹1,090 crores (from ₹753 crores in Q1 FY26).
  • Non-wiring harness business grew 67.7% YoY to ₹358 crores (from ₹213 crores in Q1 FY26).
  • EV revenue grew 79% YoY, with contribution increasing to 27% of total revenue from 24% last year.
  • EBITDA margins improved 110 basis points sequentially to 15% compared to Q4 FY2026.
  • Multilink acquisition contributed approximately 3% to revenue growth for the quarter.
  • Debt level stood at ₹220 crore at the end of June quarter, with IPO proceeds received in August expected to create cash surplus.
  • Strategic and operational updates:
  • Full integration of Multilink acquisition expected in 3-4 months, targeting 25%-30% growth from this business.
  • Collaboration with Ride Vision for ADAS systems progressing, with JV formation in process.
  • Began supplying battery packs to a second major customer in the southern region.
  • Expansion ongoing in Jhajjar and Hosur plants to add 15%-20% capacity this year.
  • Copper represents 20%-23% of Bill of Materials cost.
  • Localization efforts reduced imported components from 30%-35% to 20%-25%.
  • Guidance and outlook:
  • Management provided full-year revenue growth guidance of 25%-30% for FY27.
  • EBITDA margin guidance of 15%-16% for FY27.
  • Expect EV revenue contribution to exceed 30-32% in 2-3 years.
  • Raw material price increases (copper up 3%-4% in July-August) may impact margins with a 3-month lag in pass-through.
  • The company indicated that no unpublished price sensitive information (UPSI) would be shared during the call.

Additional Notes Section

  • The document represents a regulatory filing submitted to NSE and BSE under Regulation 30 of SEBI (LODR) Regulations, 2015.
  • The transcript includes detailed Q&A session with analysts from Nomura, Kotak Securities, Axis Capital, Sundaram Mutual Fund, Incred Asset Management, Leo Asset and Wealth Management, Nippon Life, Ambit, Heron's Management, and Niveshay.
  • Financial data was extensively disclosed during the conference call, including specific revenue figures, growth rates, margin metrics, and debt levels.