Financial Performance Summary (INR Crores)

Q1 FY27 vs Q1 FY26 Comparison:

  • Revenue: ₹3,407 crore (Q1 FY27) vs ₹2,494 crore (Q1 FY26) - 37% growth
  • EBITDA: ₹258 crore (Q1 FY27) vs ₹244 crore (Q1 FY26) - 6% growth
  • PAT: ₹145 crore (Q1 FY27) vs ₹143 crore (Q1 FY26) - 1% growth

Operational Highlights

Market Context

  • Indian passenger vehicle industry grew 17% year-over-year in Q1 FY27
  • Copper prices increased approximately 7% quarter-over-quarter and 53% year-over-year

Business Performance Drivers

  • Robust revenue growth of 37% YoY significantly outperformed industry growth
  • Timely expansion into Greenfields projects and successful ramp-up of new customer programs contributed to substantial revenue growth
  • Enhanced customer confidence achieved through operational execution

Profitability Challenges

  • Higher average copper prices compared to prior year impacted profitability
  • Significant minimum wage revisions in multiple states affected cost structure
  • Constructive discussions continue with customers to recover cost increases and maintain business momentum

EV Business Performance

  • EV share of revenues reached 8.5% for Q1 FY27
  • This represents an increase from 6.6% for the 12 months of FY26

Debt and Liquidity Position (INR Crores)

Net Debt Analysis:

| Item | Q1 FY27 | Q4 FY26 | Q1 FY26 |

| External Debt | 9 | 10 | 61 |

| Less: Cash and Bank Balance | 14 | 66 | 21 |

| Net Debt | (5) | (56) | 40 |

| Lease liabilities (Ind AS 116) | 259 | 223 | 199 |

| Total Net Debt including lease liabilities | 254 | 167 | 239 |

Dividend Impact Note:

The net debt position of (₹5 crore) for Q1 FY27 is post dividend payout of ₹575 crores, comprising:

  • ₹354 crores for FY 2023-24
  • ₹221 crores as interim dividend for FY 2024-25

Commodity and Currency Reference Rates

Copper Prices:

| Period | LME Copper (USD/MT) | Copper (INR/KG) |

| Q1 FY26 | 9,519 | 883 |

| Q4 FY26 | 12,852 | 1,259 |

| Q1 FY27 | 13,324 | 1,348 |

Exchange Rates:

| Currency Pair | Q1 FY26 | Q4 FY26 | Q1 FY27 |

| Jap Yen/Rs. | 0.592 | 0.583 | 0.594 |

| USD/Rs. | 85.59 | 91.52 | 94.66 |

| Euro/Rs. | 97.07 | 107.11 | 110.03 |

Safe Harbor Statement

The presentation contains forward-looking statements based on management's beliefs and assumptions, expressed in good faith. These statements involve known and unknown risks, contingencies, uncertainties, and market conditions that may cause actual results to differ materially from expressed expectations. The company disclaims any obligation or liability for errors or omissions, and recipients should not construe this as investment, legal or tax advice.