Suprajit Engineering FY26 Revenue Up 17%, EBITDA Rises 19%

Date: May 25, 2026

Business Update

The Board recommended a final dividend of ₹2 per equity share of ₹1 each for FY26, making the total dividend ₹3.50 (350%) against a total dividend of ₹3 (300%) per share paid in FY25. The aggregate dividend payout for FY26 is ₹480 million versus ₹411.48 million paid the previous year.
The overall Indian automotive sector grew 11.8% during the year. Passenger Vehicles grew 9.4%, and the 2-wheeler segment grew 11.8%. Global automotive and non-automotive markets had a muted year.
Recent geopolitical conflict in the Middle East has added risks of inflation, higher oil and commodity prices, increasing uncertainties for the company's operations alongside ongoing tariff and geopolitical issues.
Trade restrictions by various nations have led to supply chain constraints in both availability and cost pressures.
Revenue growth in Suprajit Controls Division (SCD) was 15%, significantly higher than global growth. Suprajit Electronics Division (SED) grew 30%, showing continued strong momentum in Q4.
The overall consolidated performance was satisfactory, with revenue growing 17% and EBITDA growing 19%.
The company achieved its highest-ever quarterly revenue of ₹10.42 billion (18.8% YoY) and quarterly PBT of ₹972 million (93.7% YoY) on consolidated audited financials.
Restructuring at overseas entities of Suprajit (SCS) was successfully completed, leading to SCS entities turning EBITDA positive in Q4, in line with guidance.
The process of various tariff recoveries from customers and government agencies is ongoing and is expected to conclude satisfactorily within a reasonable period.

Consolidated Financial Highlights (Excluding SCS)

For the Year Ended (Values in Million INR)

| Metric | FY 2024-25 | FY 2025-26 | Growth |

| Revenue | 31,056 | 33,770 | 8.7% |

| EBITDA | 4,011 | 4,432 | 10.5% |

| EBITDA % | 12.9% | 13.1% | |

For the Quarter Ended (Values in Million INR)

| Metric | Q4 FY 2024-25 | Q4 FY 2025-26 | Growth |

| Revenue | 8,153 | 9,128 | 12% |

| EBITDA | 1,057 | 1,161 | 9.8% |

| EBITDA % | 13% | 12.7% | |

Standalone Financial Highlights

For the Year Ended (Values in Million INR)

| Metric | FY 2024-25 | FY 2025-26 | Growth |

| Revenue | 17,185 | 18,399 | 7.1% |

| EBITDA | 2,979 | 3,049 | 2.4% |

| EBITDA % | 17.3% | 16.6% | |

For the Quarter Ended (Values in Million INR)

| Metric | Q4 FY 2024-25 | Q4 FY 2025-26 | Growth |

| Revenue | 4,352 | 4,685 | 7.7% |

| EBITDA | 716 | 704 | -1.7% |

| EBITDA % | 16.5% | 15% | |

Group Debt & Investment (Values in Million INR)

| Metric | Mar-25 | Mar-26 |

| Long Term Debt | 2,056 | 2,238 |

| Short Term Debt | 4,515 | 5,612 |

| Total Debt | 6,571 | 7,850 |

| Investment in Mutual Funds & Bonds | 2,513 | 2,354 |

Divisional Performance for FY 2025-26

Suprajit Controls Division (SCD, Excluding SCS)

SCD manufactures cables in India, Mexico, USA, Hungary, Morocco, and China to serve customers outside India & South Asia.

| Metric | FY 2024-25 | FY 2025-26 | Growth |

| Revenue | 14,060 | 15,537 | 10.5% |

| EBITDA | 1,369 | 1,711 | 25% |

| EBITDA % | 9.7% | 11% | |

Highlights:

Revenue growth for the year was 10.5% and 15% for the quarter.
EBITDA margin for the year was 25%, showing growth of 20.5% for the year.
Major restructuring within the division was completed by March 2026.
With tariff uncertainties receding, new business wins are the focus.
The Matamoros facility now operates as a single facility for automotive and non-automotive customers in North America after Juarez relocation. The Brownsville warehouse was significantly expanded.

Domestic Cable Division (DCD)

DCD supplies cables from manufacturing plants in India to serve clients in India and South Asia.

| Metric | FY 2024-25 | FY 2025-26 | Growth |

| Revenue | 11,796 | 12,879 | 9.2% |

| EBITDA | 1,969 | 2,081 | 5.7% |

| EBITDA % | 16.7% | 16.2% | |

Highlights:

Revenue growth was 9.2% for the year and 9.4% for the quarter, largely due to price reductions given to customers relating to the prior year.
Operational EBITDA grew 5.7% for the year and 5.9% for the quarter.
Operating EBITDA remained robust at 16.2% for the year.
Aftermarket and "Beyond cable" business growth has been robust.
Beyond cable projects growth is expected to ramp up well this year with additional new business wins.

Phoenix Lamps Division (PLD, Consolidated)

PLD supplies automotive halogen lamps from 3 facilities in India and a Luxlite warehouse in Luxembourg to Aftermarket and OEMs.

For the Year Ended (Values in Million INR)

| Metric | FY 2024-25 | FY 2025-26 | Growth |

| Revenue | 3,900 | 3,778 | -3.1% |

| EBITDA | 579 | 474 | -18.1% |

| EBITDA % | 14.8% | 12.6% | |

For the Quarter Ended (Values in Million INR)

| Metric | Q4 FY 2024-25 | Q4 FY 2025-26 | Growth |

| Revenue | 978 | 992 | 1.4% |

| EBITDA | 141 | 120 | -14.9% |

| EBITDA % | 14.4% | 12.1% | |

Highlights:

Operating revenue declined 3% for the year but grew 1.4% for the quarter.
Operating EBITDA declined 18.1% for the year and 14.9% for the quarter.
Muted Trifa brand sales due to the Middle East conflict and subdued aftermarket performance led to the marginal revenue decline.
The division continued to execute orders for specialized equipment for the group's requirements.
Phoenix successfully executed first orders to the USA's largest retailer, who awarded significant additional business.

Suprajit Electronics Division (SED)

SED supplies Digital clusters & Electronic products from a manufacturing plant in India.

For the Year Ended (Values in Million INR)

| Metric | FY 2024-25 | FY 2025-26 | Growth |

| Revenue | 1,300 | 1,576 | 21.2% |

| EBITDA | 94 | 166 | 76.6% |

| EBITDA % | 7.3% | 10.6% | |

For the Quarter Ended (Values in Million INR)

| Metric | Q4 FY 2024-25 | Q4 FY 2025-26 | Growth |

| Revenue | 340 | 443 | 30.3% |

| EBITDA | 31 | 43 | 38.7% |

| EBITDA % | 9% | 9.7% | |

Highlights:

Operational EBITDA is without considering non-operational income/expenses & forex gain/loss.
Operating revenue grew 21.2% for the year and 30.3% for the quarter.
Operating EBITDA grew 76.6% for the year and 38.7% for the quarter.
Significant business momentum is seen in digital clusters and electronic throttle control.
SED is undertaking a significant capacity expansion plan due to new business wins and outlook.

Acquisition of Stahlschmidt Cable Systems (SCS)

A turnaround in SCS operations was achieved, with entities turning EBITDA positive in Q4.
Financials for SCS entities:

| Metric | FY 2024-25 | FY 2025-26 |

| Revenue | 1,713 | 4,478 |

| EBITDA | -490 | -237 |

| EBITDA % | -28.6% | -5.3% |

This is a significant development for integrating SCS into the Suprajit group.
Multiple restructuring projects were completed: shutdown of Poland operations, moving manufacturing to Morocco, relocating warehouse from Germany to Hungary, rightsizing German operations, transfer of tool room to Morocco, and integration of SCS and LDC entities under a single structure in Europe.
Suprajit Jiaxing and Suprajit Canada operations are now fully integrated into SCD.
This is the last quarter SCS financials will be separately disclosed; they will be combined with SCD going forward.

Suprajit Technology Center (STC)

STC works with all divisions to launch new programs for products including digital clusters, throttle grips, actuators, sensors, and braking products.
Signed a Technical Collaboration Agreement (TCA) with a global brake system supplier for brake calipers for two-wheelers.
Development of ABS with Bluebrake and launch of sunroof cables are progressing satisfactorily.
Multiple other collaborations are under discussion.
The new STC building is progressing well and is expected to be completed in Q3 of the current year.

General Updates

Sixteen DCD plants went live on SAP in April 2026; plans to launch SAP in other group entities are progressing.
Additional tech shows were completed at certain customer premises.
Certain plants were successfully audited and awarded for JIPM, Ford Q1, IATF 16949:2016, ISO 14001:2015, ISO 45001:2018, ISO 27001:2020, TISAX 2025.
With tariff uncertainties largely behind, customers are expected to start awarding fresh contracts.

Change of Division Nomenclature

Effective Q1 FY27, the divisions are renamed:

| Current Name | Revised Name |

| DCD | ICM (India Cables and Mechatronics) |

| SCD | GCM (Global Cables and Mechatronics) |

| SED | SED (Sensors, Electronics and Displays) |

| PLD | PLE (Phoenix Lighting and Electricals) |

The divisions remain the same for financial disclosures; the change is for clarity and focus on changing product mix.

Outlook for the Group 2026-27

Overall revenue growth is expected in double digits.
EBITDA margin is expected between 12-13.5%, including erstwhile SCS entities.
Concerns: Ongoing turmoil in the Middle East may cause oil price increases, commodity inflation, transportation challenges, and supply shortages.
Assessment is based on customers' expected new product launches, which may change.
The company will monitor developments and provide revised guidance if significant changes occur.

Capital Expenditure (CAPEX)

CAPEX across the group for the year is expected to be ₹200 crores.
CAPEX includes planned land purchase in Maharashtra Industrial Township Limited, Auric, Maharashtra; completion of STC building; a second plant for SAL in Chennai; capacity expansion at SED; balancing infrastructure development; and augmenting plant, machinery, molds, dies, testing equipment, and IT infrastructure.

Outlook for Divisions 2026-27

GCM (Global Cables and Mechatronics) Division (erstwhile SCD)

Guidance includes SCS entities.
Expected double-digit revenue growth.
Operational EBITDA margins, including SCS, expected to improve from ~6% last year to 10-12%.
Strong business wins at SAL (India) and Shanghai Lonestar (China) with 20%+ growth.
Confident of tariff recovery from customers or government.

ICM (India Cables and Mechatronics) Division (erstwhile DCD)

Expected double-digit growth due to market penetration and beyond cable products, despite single-digit Indian automotive sector growth.
EBITDA margins expected stable inline with the past year.

PLE (Phoenix Lighting and Electricals) Division (erstwhile PLD)

Successful product launch through the world's largest US retail chain; significant new business awarded for a larger network.
Insolvency of a major halogen lamps manufacturer is expected to bring additional business.
Expected double-digit revenue growth and stable EBITDA margin.

SED (Sensors, Electronics & Displays) Division

New contracts for digital clusters, throttle grips, and sensors.
Set to supply complete cluster, throttle, and switch assembly to a premium EV bike and export digital clusters to a key US off-highway customer.
Expected strong double-digit revenue growth.
Operating EBITDA margins expected generally inline with the past year.