Company Overview

India Nippon Electricals Limited (INEL) was incorporated in 1984 and is owned by Lucas Indian Service Limited, a wholly-owned subsidiary of Lucas-TVS Limited. The company manufactures electronic ignition systems for two-wheelers, three-wheelers, and portable engines, and has recently entered the electric vehicle market. INEL has 3 manufacturing facilities and a state-of-art tech center located in Tamil Nadu, Puducherry, and Haryana.

Product Portfolio

INEL's product offerings include Electronic Ignition Systems, Controllers, Integrated Starter Generator systems (ISG), Sensors, and products for Electric Vehicles and Aftermarket segments. The company has recently established a world-class Technology center in Tamil Nadu focused on developing EV technology products, emission control technologies, and mechatronic products.

Electric Vehicle Products

INEL is developing several EV products including Clusters (colored LCD in proto stage, TFT Cluster in development), Tyre Pressure Monitoring System (TPMS), Traction Motor, Motor Controller, and DC-DC Converter. The Side Stand Sensor is in mass production.

Strategic Overview

Key Strengths

  • Market leadership position in electronic ignition system products
  • Strong customer base in India and expanding internationally (North America, Japan, Europe)
  • Diversified product portfolio across ICE and EV segments

Future Growth Strategies

  • Capitalizing on core business by introducing new products for two & three-wheelers
  • Technical Licensing partnership with Borg Warner for Control unit for Electronic Fuel Injection (EFI ECU)
  • Growing EV product portfolio through new R&D Centre
  • Advancing aftermarket business with dedicated team and strengthened distribution network
  • Expanding to new geographical locations
  • Exploring new product applications for electronic solutions

Q1 FY27 Financial Highlights (Consolidated)

Financial Performance

  • Revenue from Operations: INR 3,045 Mn (35.3% YoY growth)
  • EBITDA: INR 321 Mn (37.2% YoY growth)
  • EBITDA Margin: 10.54% (13 basis points improvement YoY)
  • Net Profit: INR 270 Mn (15.9% YoY growth)
  • PAT Margin: 8.87%
  • Basic/Diluted EPS: INR 11.95 (16.0% YoY growth)

Comparative Performance

| Particulars (INR Mn) | Q1-FY27 | Q1-FY26 | YoY % | Q4-FY26 | QoQ % |

| Revenue from Operations | 3,045 | 2,247 | 35.5% | 2,995 | 1.7% |

| Operating Expenses | 2,724 | 2,013 | 35.3% | 2,612 | 4.3% |

| EBITDA | 321 | 234 | 37.2% | 383 | (16.2)% |

| EBITDA Margin (%) | 10.54% | 10.41% | 13 Bps | 12.79% | (225) Bps |

| Depreciation | 52 | 42 | 23.8% | 50 | 4.0% |

| Finance Cost | 1 | 1 | NA | 3 | (66.7)% |

| Other Income | 80 | 114 | (29.8)% | 19 | 321.1% |

| PBT before Exceptional Items | 348 | 305 | 14.1% | 349 | (0.3)% |

| Exceptional Items | - | - | NA | 152 | NA |

| PBT | 348 | 305 | 14.1% | 501 | (30.5)% |

| Taxes | 78 | 72 | 8.3% | 103 | (24.3)% |

| PAT | 270 | 233 | 15.9% | 398 | (32.2)% |

| PAT Margin (%) | 8.87% | 10.32% | (145) Bps | 13.29% | (442) Bps |

Operational Highlights

  • Maintained No. 1 position in Fly Wheel Magneto with further market share gains
  • Q1 FY27 sales grew 35% YoY, significantly ahead of 20% growth in the 2-wheeler industry
  • Achieved highest-ever quarterly sales
  • Fly Wheel Magneto production reached ~2 million units during Q1 FY27
  • Secured new business across ISG Controllers, DC-DC Converters, Sensors, Actuators and Controllers
  • Commenced SoP for the Super-Premium 2-wheeler segment
  • Ranked #69 among India's Top 100 Great Places to Work
  • Launched Total Productive Maintenance (TPM) to enhance asset reliability and productivity

Challenges Faced

  • Middle East tensions led to inflationary pressures and significant supply-chain disruptions
  • Continued supply-side challenges in NdFeB magnets amid geopolitical developments and China-related trade dynamics
  • Commodity inflation and higher conversion costs (manpower, fuel, consumables)

Historical Financial Performance (Consolidated)

| Particulars (INR Mn) | FY24 | FY25 | FY26 | Q1-FY27 |

| Revenue from Operations | 7,241 | 8,448 | 10,685 | 3,045 |

| EBITDA | 664 | 952 | 1,222 | 321 |

| EBITDA Margins (%) | 9.17% | 11.27% | 11.44% | 10.54% |

| PAT | 593 | 823 | 1,112 | 270 |

| PAT Margins (%) | 8.19% | 9.74% | 10.41% | 8.87% |

| Diluted EPS (INR) | 26.21 | 36.37 | 49.14 | 11.95 |

Capital Market Data (As on 30th June 2026)

  • Face Value: INR 5.00 per share
  • CMP: INR 1,005.20 per share
  • 52 Week H/L: INR 1,099.95 / 653.25
  • Market Capitalization: INR 22,739.06 Mn
  • Shares Outstanding: 22.62 Mn
  • Average Volume: 51.85 ('000)

Subsidiary Update

PT Automotive Systems Indonesia Ltd., the Company's wholly owned subsidiary, was dissolved effective June 25, 2025. Accordingly, from April 1, 2026, the Company has no subsidiaries and has discontinued the preparation of consolidated financial statements.

Disclosure Information

This investor presentation was submitted to the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The document was signed by S Logitha, Company Secretary, on August 21, 2026.