Financial Performance (Consolidated)

Q1 FY27 Financial Highlights:

  • Revenue from Operations: ₹238.4 crore (15% YoY growth from ₹206.8 crore in Q1 FY26)
  • Other Income: ₹3.8 crore (flat YoY)
  • Total Income: ₹242.2 crore (15% YoY growth)
  • EBITDA: ₹42.8 crore (23% YoY growth from ₹34.9 crore)
  • EBITDA Margin: 17.6% (improved from 16.5% in Q1 FY26)
  • EBIT: ₹34.4 crore (26% YoY growth from ₹27.3 crore)
  • EBIT Margin: 14.2% (improved from 12.9%)
  • Finance Cost: ₹2.8 crore (reduced from ₹3.3 crore)
  • Share of Profit from JVs: ₹6.1 crore (increased from ₹4.0 crore)
  • Profit Before Tax (Before Exceptional Items): ₹37.7 crore (35% YoY growth from ₹28.0 crore)
  • Tax: ₹7.7 crore (increased from ₹5.7 crore)
  • Profit After Tax (Before Exceptional Items): ₹30.0 crore (35% YoY growth from ₹22.3 crore)
  • PAT Margin %: 12.4% (improved from 10.5%)

Cost Breakdown:

  • Raw Material: ₹121.3 crore (increased from ₹108.1 crore)
  • Employee Cost: ₹28.4 crore (increased from ₹24.3 crore)
  • Other Expenses: ₹49.7 crore (increased from ₹43.3 crore)
  • Depreciation: ₹8.4 crore (increased from ₹7.6 crore)

New Order Updates

Talbros Automotive Components Limited along with its Joint Ventures has received orders worth over ₹1,000 crores:

Order Breakdown:

  • ₹170 crore from sealing business exports (gaskets and heat shield products)
  • Gaskets: ~₹100 crore
  • Heat Shields: ~₹150 crore
  • Includes ~₹100 crore for EV segment
  • Includes ~₹700 crore for exports segment
  • Execution period: Next 5 years
  • Commercialization starts from FY27
  • Significant orders in forgings business from a major European-based global automotive component supplier (newly onboarded customer)
  • Export orders through MTCS JV for BIW components from a multinational automobile manufacturer producing luxury vehicles and SUVs (catering to EV segment)
  • ₹2170 crore orders through Talbros Marugo Rubber JV in domestic market for products like Hoses and Anti-vibration parts

Business Verticals and Operational Highlights

Company Overview:

  • 60+ years of experience in auto component manufacturing
  • 5 product verticals: Gaskets, Heat Shields, Forgings, Suspension, Anti-vibration & Hoses
  • 30+ OEM clients worldwide
  • 2 global Joint Ventures
  • EV ready - supplying major OEMs globally in electric vehicle transition

Gasket & Heat Shields Business:

  • Signed exclusive contract with SANWA for Light Weight Aluminium Heat Shields
  • Products used for automotive applications in PV segment with noise reduction, emission control, heat insulation features
  • Used on new generation engines including Hybrid and EVs
  • Q1 FY27 revenue from heat shield: ₹17.24 crore
  • Q1 FY27 revenue from EV: ₹0.35 crore

Joint Ventures:

Marelli Talbros Chassis Systems (MTCS): 50% Joint Venture with Marelli Suspension Systems SpA

Talbros Marugo Rubber Pvt. Ltd. (TMR): 50% partnership with Marugo Rubber Industries Ltd (Japan)

  • Commenced production in February 2013
  • 100% sales to OEMs predominantly Maruti Suzuki
  • ~90% revenue from PV segment, 8% from CV segment

Lohum Talbros Carbon Pvt. Limited: New Joint Venture

  • Business: Recovered Carbon Black (rCB) and Devulcanized Rubber
  • rCB market: ~$1.8 billion high-growth subset growing at +35% CAGR
  • Devulcanized rubber market: ~$3.5 billion growing at ~10% CAGR
  • Virgin carbon black market: ~$27 billion
  • Equity funding for 1st year: ₹20 crore (Talbros commitment: 49% i.e., ₹9.8 crore)
  • Business to commence from July 2026 onwards
  • Right of First Refusal provision for non-selling party

Capital Expenditure Plans

FY27 Capex: ₹103 crore

Breakdown by Business:

  • Gasket & Heat Shields: ₹17 crore (20% of total)
  • Forgings: ₹70 crore (68% of total)
  • Marelli Talbros Chassis Systems (MTCS): ₹19 crore
  • Talbros Marugo Rubber (TMR): ₹5 crore

Funding:

  • To be funded by internal accruals and some borrowings
  • MTCS and TMR amounts will be funded by respective companies through internal accruals and some borrowings

Previous Capex:

  • FY26: ₹51 crore

Capacity Utilization

  • Q1 FY27 capacity utilization data provided but specific numbers not quantified in disclosure

Management Team

Executive Management:

  • Mr. Ashish Gupta - CEO (35+ years experience)
  • Mr. Manish Khanna - Chief Financial Officer (Qualified CA and MBA, 18+ years experience)
  • Mr. Suresh Sharma - President - Gaskets Division (Engineer and MBA, 26+ years experience)
  • Mr. Vivek Singh - President - Forging Division (Mechanical Engineering degree, 20+ years experience)
  • Mr. Masaru Morisaki - Director - TMR (Rich experience in Auto Industry)
  • Mr. Vineet Gupta - Business Unit Head - MTCS (MBA and Mechanical Engineering, 23+ years experience)
  • Mrs. Seema Narang - Company Secretary (30+ years experience)

Awards & Recognition

Multiple awards received including:

  • Hyundai appreciation for sustaining 4-star rating
  • Suzuki Motor Gujarat Certificate of Appreciation for Zero Defect performance
  • ISO 45001:2018 certification for Occupational Health & Safety Management System
  • ACMA Excellence Award
  • JCB Export Excellence recognition
  • Quality Circle Forum of India Bronze Award
  • Kirloskar New Product Development Award
  • Kaizen Award by CII
  • EEPC Export Excellence Award

Historical Financial Performance

Consolidated P&L (₹ Crores):

| Particulars | FY26 | FY25 | FY24 |

| Revenue from Operations | 870.0 | 827.1 | 778.3 |

| EBITDA | 152.5 | 144.2 | 125.5 |

| EBITDA Margin | 17.5% | 17.4% | 16.1% |

| PAT (Before Exceptional Items) | 104.1 | 94.4 | 82.9 |

| PAT Margin % | 11.7% | 11.2% | 10.5% |

Consolidated Balance Sheet (₹ Crores as of Mar-26):

  • Total Assets: ₹1,085.1
  • Property, plant and equipment: ₹224.9
  • Capital work in progress: ₹21.7
  • Inventories: ₹145.9
  • Trade receivables: ₹282.2
  • Cash and cash equivalents: ₹35.8
  • Shareholders' Funds: ₹742.9
  • Equity Share capital: ₹12.3

Consolidated Cash Flow (₹ Crores FY26):

  • Cash generated from operations: ₹111.9
  • Net Cash from Operating Activities: ₹84.7
  • Net Cash from Investing Activities: ₹-35.9
  • Net Change in cash: ₹21.0
  • Closing Cash Balance: ₹35.8