Event Type: Q2 FY 2026-27 Earnings Conference Call held on November 05, 2026 at 11:00 am IST.

Management Participants:

  • Mr. K.A. Joseph – Managing Director & Promoter
  • Mr. Sanjay Thapar – Group CEO & Executive Director
  • Mr. Mahendra Naredi – Group Chief Financial Officer
  • Ms. Devanshi Dhruva – Head – Investor Relations

Financial Performance Highlights:

  • Q2 FY27 Consolidated Revenue: ₹2,827.3 million, up 16.9% YoY
  • Q2 PAT: ₹583.3 million, up 34.8% YoY with margin of 20.6%
  • Q2 EBITDA: ₹896.4 million, up 23.1% YoY with margin of 31.0%
  • H1 FY27 Revenue: ₹5,437.3 million, up 20.4% YoY
  • H1 PAT: ₹1,327.5 million (includes one-time gain of ₹241.7 million from sale of old Bangalore facility)
  • Underlying H1 PAT (excluding one-time gain): ₹1,085.8 million, up 39.4%

Capacity Expansion Updates:

  • New SJS Decoplast chrome plating facility in Pune commenced operations in August 2026
  • Bangalore plant expansion complete with 20% capacity addition, commercial production starting Q3 FY27
  • Walter Pack's three Ranjangaon facilities consolidating into single integrated plant, expected operational by May 2027
  • SJS Display Electronics setting up automotive display facility in Pune, operational in Q2 FY28

Business Performance Details:

  • Automotive business grew 21.7% YoY in Q2 against industry production growth of 17.8%
  • Passenger vehicle contributed 43.3% of revenue, two-wheeler 38.9%, consumer and others 17.8%
  • Exports grew 23.1% YoY to ₹282.5 million, contributing 10% of revenue
  • H1 export growth was 45.8%
  • New generation products contributed 24% of total revenue

Strategic Updates:

  • Acquired remaining 9.9% stake in Walter Pack India for ₹199.22 million, making it wholly-owned subsidiary
  • Net cash position of ₹3,318.7 million as of September 2026 vs ₹2,437 million at March 2026
  • ROCE improved to 41.5% from 35.5% in FY26
  • ROE improved to 22.8% from 20%
  • Total capex plan for FY2026-FY2028: ₹2,700-2,850 million
  • Capex incurred so far: ₹1,310.6 million (₹822 million in FY26, ₹488.6 million in H1 FY27)

New Business Wins:

  • Won businesses from TVS, Mahindra & Mahindra, Hero MotoCorp, Stellantis, Maruti Suzuki, Bajaj Auto, Royal Enfield, Whirlpool, Godrej
  • SJS Decoplast added Tata Motors as chrome plating customer
  • Added HARMAN and TADME (Toyota Middle East) as new customers
  • Secured export orders from Stellantis, Whirlpool in North America, and TADME

Revised Guidance:

  • Revenue growth outlook revised to 1.2x-1.5x of passenger vehicle and motorcycle industry growth (from 1.5x-2x earlier)
  • EBITDA margin guidance raised to 29%-30% (from 27%-28% earlier)
  • Export target: 14%-15% of consolidated revenue by FY28

Compliance Statement:

The conference call included discussion of quarterly results and business updates. The company did not indicate that any unpublished price sensitive information was shared.

Additional Notes Section

The document includes the full transcript of the earnings conference call containing detailed financial performance, management commentary, and Q&A session with analysts. No separate presentation deck or additional attachments were mentioned in the disclosure. The announcement primarily serves as submission of the earnings call transcript to the stock exchanges for record purposes.