Financial Performance Highlights

Consolidated Results

Q2 FY27 Performance:

  • Revenue from Operations: ₹16,482 million (compared to ₹10,165 million in Q2FY26)
  • Other Income: ₹264 million (₹261 million in Q2FY26)
  • Total Income: ₹16,746 million, up 60.6% YoY
  • EBITDA: ₹3,004 million, up 28.5% YoY
  • EBITDA Margin: 17.9% (22.4% in Q2FY26)
  • Finance Costs: ₹319 million (₹85 million in Q2FY26)
  • PBT: ₹2,129 million, up 10.6% YoY
  • PBT Margin: 12.7% (18.5% in Q2FY26)
  • PAT: ₹1,623 million, up 14.1% YoY
  • PAT Margin: 9.7% (13.6% in Q2FY26)
  • Cash PAT: ₹2,178 million

H1 FY27 Performance:

  • Revenue from Operations: ₹31,226 million (₹19,798 million in H1FY26)
  • Other Income: ₹512 million (₹546 million in H1FY26)
  • Total Income: ₹31,738 million, up 56.0% YoY
  • EBITDA: ₹5,831 million, up 27.6% YoY
  • EBITDA Margin: 18.4% (22.5% in H1FY26)
  • Finance Costs: ₹661 million (₹175 million in H1FY26)
  • PBT: ₹4,081 million, up 8.7% YoY
  • PBT Margin: 12.9% (18.5% in H1FY26)
  • PAT: ₹3,100 million, up 11.9% YoY
  • PAT Margin: 9.8% (13.6% in H1FY26)
  • Cash PAT: ₹4,189 million

Standalone Results

Q2 FY27 Performance:

  • Total Income: ₹10,500 million, up 16.9% YoY
  • EBITDA: ₹2,087 million, up 0.3% YoY
  • EBITDA Margin: 19.9% (23.2% in Q2FY26)
  • Finance Costs: ₹271 million (₹59 million in Q2FY26)
  • PBT: ₹1,588 million, down 11.8% YoY
  • PAT: ₹1,189 million, down 11.4% YoY

H1 FY27 Performance:

  • Total Income: ₹20,127 million, up 14.4% YoY
  • EBITDA: ₹4,106 million (flat YoY)
  • EBITDA Margin: 20.4% (23.3% in H1FY26)
  • Finance Costs: ₹564 million (₹123 million in H1FY26)
  • PBT: ₹3,095 million, down 12.6% YoY
  • PAT: ₹2,308 million, down 12.5% YoY

Key Financial Impact Factors

  • Elevated finance costs of ₹486 million (Consolidated) and ₹441 million (Standalone) in H1FY27 to fund acquisition of three Indian entities of Antolin
  • Q2FY27 finance costs of ₹234 million (Consolidated) and ₹212 million (Standalone) related to same acquisition financing
  • Excluding acquisition financing impact, Consolidated PBT grew by 22% in H1FY27 and 23% in Q2FY27
  • Margin pressure from adverse geopolitical tensions, supply chain disruptions, revision in minimum wages, commodity price pressures, and change in sales mix

Strategic Business Updates

Diversification Strategy

  • Company has transformed from legacy products to multi-product franchise with 35%+ revenue from powertrain-agnostic products
  • Expansion into High-Precision Plastics, EV Motors & Controllers, and Interiors Solutions & Lighting
  • 14 manufacturing facilities with reach in 30+ countries
  • All businesses across the group have won new programmes and customers

Acquisition Details

SPR Takahata Precision India Pvt. Ltd. (Acquired October 16, 2023):

  • SPR Engenious Ltd. acquired 62% stake
  • Manufacturer of high-precision injection moulded parts for automotive, office automation, residential, medical equipment
  • Technical collaboration with Takahata Japan
  • Manufacturing facility in Neemrana, Rajasthan

SPR TGPEL Precision Engineering Ltd. (Acquired December 24, 2024):

  • SPR Engenious Ltd. acquired 100% stake
  • Precision mould making and injection moulded parts including speaker grills, air vents, manifolds, door handles
  • 30+ years experience in mould making
  • 2 manufacturing facilities in Noida, Uttar Pradesh

Antolin Acquisitions (Completed January 8, 2026):

  • SPR Auto Interior Lighting Solutions Pvt. Ltd. (formerly Antolin Lighting India Pvt. Ltd.) - 100% stake
  • SPR Auto Interior Solutions Pvt. Ltd. (formerly Grupo Antolin India Pvt. Ltd.) - 100% stake
  • SPR Auto Interior Solutions Chakan Pvt. Ltd. (formerly Grupo Antolin Chakan Pvt. Ltd.) - 100% stake
  • Long-term Technology Licensing Agreement with Antolin Global
  • 5 manufacturing facilities (2 in Chakan, 2 in Pune, 1 in Chennai)

Capital Structure Impact

  • Company issued Non-Convertible Debentures worth ₹10,000 million to fund Antolin acquisitions
  • Debt-to-Equity Ratio: 0.59x (Standalone), 0.62x (Consolidated) as of March 2026
  • Successful QIP of 2,336,448 equity shares completed on August 20, 2026
  • Shares outstanding increased from 44,049,824 to 46,386,272 post-QIP

Sustainability Initiatives

  • 21% of total energy from renewable sources
  • 100% used water recycled (Zero Liquid Discharge)
  • 98% reduction in waste to landfill since base year 2021-22
  • 59% reduction in energy consumption
  • 45% reduction in Scope 1+2 emissions
  • ISO 14001, ISO 45001, and other certifications across facilities

Historical Performance Context

  • Total Income & PAT grew at 15% & 33% CAGR from FY22-26 (Standalone)
  • Strong credit rating: AA+ from India Ratings
  • Return ratios remained strong despite recent debt increase for acquisitions

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