Financial Performance Summary (Consolidated)

Quarterly Performance (Q2FY27 vs Q2FY26):

  • Operating Revenue: ₹2,827.3 Mn vs ₹2,417.6 Mn, up 16.9% YoY
  • EBITDA: ₹896.4 Mn vs ₹728.4 Mn, up 23.1% YoY
  • EBITDA Margin: 31.0% vs 29.6%
  • Reported PAT: ₹583.3 Mn vs ₹432.7 Mn, up 34.8% YoY
  • Reported PAT Margin: 20.6% vs 17.9%
  • Normalised PAT: ₹583.3 Mn vs ₹432.7 Mn, up 34.8% YoY
  • Normalised PAT Margin: 20.6% vs 17.9%
  • Reported EPS: ₹18.08 vs ₹13.73

Quarterly Performance (Q2FY27 vs Q1FY27):

  • Operating Revenue: ₹2,827.3 Mn vs ₹2,610.0 Mn, up 8.3% QoQ
  • EBITDA: ₹896.4 Mn vs ₹799.6 Mn, up 12.1% QoQ
  • EBITDA Margin: 31.0% vs 30.0%
  • Reported PAT: ₹583.3 Mn vs ₹744.2 Mn, down 21.6% QoQ
  • Reported PAT Margin: 20.6% vs 28.5%
  • Normalised PAT: ₹583.3 Mn vs ₹502.5 Mn, up 16.1% QoQ
  • Normalised PAT Margin: 20.6% vs 19.3%

Half-Yearly Performance (H1FY27 vs H1FY26):

  • Operating Revenue: ₹5,437.3 Mn vs ₹4,514.1 Mn, up 20.4% YoY
  • EBITDA: ₹1,696.0 Mn vs ₹1,315.7 Mn, up 28.9% YoY
  • EBITDA Margin: 30.5% vs 28.7%
  • Reported PAT: ₹1,327.5 Mn vs ₹778.9 Mn, up 70.4% YoY
  • Reported PAT Margin: 24.4% vs 17.3%
  • Normalised PAT: ₹1,085.8 Mn vs ₹778.9 Mn, up 39.4% YoY
  • Normalised PAT Margin: 20.0% vs 17.3%
  • Reported EPS: ₹41.26 vs ₹24.76

Note: Q1FY27 and H1FY27 PAT includes ₹241.7 Mn exceptional gain (post tax) on sale of Bangalore old facility, which was not in use since 2019.

Key Performance Highlights

Q2 FY2027 Highlights:

  • Monthly revenue crossed ₹1,000 Mn for the first time in September 2026
  • Revenue growth driven by 33.4% YoY growth in Passenger Vehicle segment and 23.1% YoY growth in exports
  • Automotive business grew 21.7% YoY compared to 17.8% YoY growth in automotive industry (2W+PV) production volumes
  • PAT margin of 20.6% represents highest quarterly margin since listing
  • Net cash position of ₹3,318.7 Mn
  • Domestic business grew 16.3% YoY
  • Export revenue increased 23.1% YoY to ₹282.5 Mn (10.0% of revenue)
  • SDPL new chrome plating facility commenced commercial production
  • SJS Bangalore capacity expansion completed; commercial production to begin in Q3FY27
  • SJS Display Electronics Pvt. Ltd. setting up automotive display plant in Pune; to be operational by Q2FY28
  • Acquired remaining 9.9% stake in WPI, making it a wholly owned subsidiary
  • Won new export orders from Stellantis and Whirlpool in North America during the quarter and TADME – Toyota (Middle East) in October 2026

H1 FY2027 Highlights:

  • Revenue growth driven by 39.0% YoY growth in Passenger Vehicle segment and 45.8% YoY growth in exports
  • Automotive business grew 26.6% YoY compared to 19.7% YoY growth in automotive industry (2W+PV) production volumes
  • ROE at 22.8% and ROCE at 41.5%

Management Commentary

Mr. K. A. Joseph, Managing Director:

  • Q2FY27 represents significant milestone with highest-ever monthly revenue of ₹1,000 Mn in September 2026
  • Growth supported by increasing content per vehicle, particularly in passenger vehicles, sustained export momentum and strengthening OEM partnerships
  • Automotive business grew 21.7% in Q2 ahead of industry growth of 17.8%
  • For H1FY27, automotive revenue rose 26.6% YoY against 19.7% for the industry
  • Favorable product mix, higher exports and continued cost optimization reinforced profitability
  • Technology partnership with BOE Varitronix strengthening capabilities in optical bonding and assembly of automotive displays in India
  • Consolidation of WPI's three Ranjangaon facilities into single integrated plant will drive operational efficiencies

Mr. Sanjay Thapar, Executive Director & Group CEO:

  • Achieved highest quarterly normalised PAT margin since listing at 20.6%
  • Exports rose 23.1% YoY to contribute 10.0% of revenue
  • New business wins with global customers strengthened order pipeline and visibility
  • Q2FY27 automotive segment grew 21.7% well ahead of 13.2% combined industry growth for passenger vehicles and motorcycles
  • Growth partly offset by subdued global consumer OEMs demand, planned SKU rationalisation at WPI and slower motorcycle growth
  • Recalibrated FY27 revenue growth outlook to 1.2–1.5x the growth of passenger vehicle and motorcycle industry
  • Raised EBITDA margin guidance to 29–30% from 27–28% earlier
  • Net cash position of ₹3,318.7 Mn provides financial wherewithal to invest in new technologies and strategic acquisitions

Additional Information

  • Earnings conference call scheduled for Thursday, 5th November 2026 at 11:00 AM IST
  • Company is a leading provider of aesthetic products serving automotive and consumer appliance industries
  • Portfolio includes decals, 3D lux badges, overlays, aluminium badges, chrome-plated parts, and optical plastics
  • Facilities located in Bangalore, Pune and Manesar
  • Supplies to more than 220+ customers in over 22 countries with over 17,500+ SKUs