Q1 FY27 Consolidated Financial Highlights

Financial Performance:

  • Total Income*: ₹242 crores (+15% YoY)
  • EBITDA*: ₹43 crores (+23% YoY)
  • Profit After Tax: ₹30 crores (+35% YoY)
  • EBITDA Margin: 17.6% (vs 16.5% in Q1 FY26)
  • PAT Margin: 12.4% (vs 10.5% in Q1 FY26)

*Includes Other Income

Segment-wise Revenue Performance (₹ crores):

  • Gasket & Heat Shield Business: ₹163.7 crores (+21% YoY from ₹135.1 crores)
  • Forgings Business: ₹78.4 crores (+4% YoY from ₹75.3 crores)
  • MTCS JV Revenue (Proportionate Basis): ₹52.4 crores (+43% YoY from ₹36.2 crores)
  • TMR JV Revenue (Proportionate Basis): ₹19.8 crores (+31% YoY from ₹15.2 crores)

Segment-wise EBITDA Performance (₹ crores):

  • Gasket & Heat Shield Business: ₹29.2 crores (+32% YoY from ₹22.2 crores)
  • Forgings Business: ₹13.5 crores (+7% YoY from ₹12.7 crores)
  • MTCS JV: ₹8.4 crores (+31% YoY from ₹6.4 crores)
  • TMR JV: ₹2.8 crores (+57% YoY from ₹1.8 crores)

Market Breakdown:

  • Exports contributed 25% of Income from Operations
  • Export contribution by division: 13% of Gaskets Revenue, 57% of Forgings Revenue, 22% of Marelli Talbros Chassis Systems, 5% of Talbros Marugo Rubber

Revenue Distribution by Market Type:

  • OEM: 64% (vs 61% in Q1 FY26)
  • Exports: 25% (vs 28% in Q1 FY26)
  • After Market: 3% (stable)
  • Others: 8% (stable)

Domestic Revenue Breakup by Vehicle Type:

  • 2 & 3 Wheelers: 15% (stable)
  • Passenger Vehicle: 34% (vs 33% in Q1 FY26)
  • HCV & LCV: 24% (vs 25% in Q1 FY26)
  • Agri & Off Loaders: 13% (vs 14% in Q1 FY26)
  • Others: 14% (vs 13% in Q1 FY26)

Management Commentary:

Mr. Anuj Talwar, Managing Director, stated that this was TACL's strongest ever quarterly performance, surpassing Q4 FY26 highs. Margins were impacted by higher employee costs due to annual increment cycle, increase in minimum wages, and elevated input costs from the West Asia crisis. The Forgings division has turned the corner with 4% YoY growth despite a high base, and exports from this division have returned to ₹43-45 crore quarterly run rate.

Challenges & Outlook:

The operating environment remains challenging with near-term pressures from freight costs, high energy costs, inflationary trends, and elevated commodity prices. Management remains optimistic for FY27 growth, expecting group revenue growth of 18-20% YoY while maintaining EBITDA margins. The outlook is supported by improving industry demand and ramp-up of recently secured business.

Company Background:

Talbros Automotive Components Limited has 11 manufacturing facilities across Haryana, Uttarakhand, and Maharashtra, along with one materials division in Gurgaon and R&D technology center at Faridabad. The company has technical collaborations with Nippon Leakless Corporation - Japan and Sanwa Packaging - Japan.