TALBROAUTONSEQ4 & FY26May 21, 2026

Talbros Automotive Components Limited

6,411words
100turns
7analyst exchanges
0executives
Key numbers — 40 extracted
rs,
, 'm joined by Mr. Navin Juneja, our Director on the Board, our Group CFO, along with our IR Advisors, SGA. The results and the investor presentation have been uploaded on the stock exchange and the com
13.16 lakh
the passenger vehicle segment continued its momentum, posting its highest ever quarter 4 sales of 13.16 lakh units, representing a 13% Y-0-Y growth. Demand for SUVs and premium vehicles remain robust, while
13%
ntinued its momentum, posting its highest ever quarter 4 sales of 13.16 lakh units, representing a 13% Y-0-Y growth. Demand for SUVs and premium vehicles remain robust, while even the entry-level segme
57.73 lakh
nts in supportive financing. The two-wheeler industry registered its highest quarter for sales of 57.73 lakh units, a growth of 26% Y-0-Y. The implementation of GST 2.0 provided a meaningful boost in Q3 and
26%
The two-wheeler industry registered its highest quarter for sales of 57.73 lakh units, a growth of 26% Y-0-Y. The implementation of GST 2.0 provided a meaningful boost in Q3 and Q4, complemented by rur
3.25 lakh
country. The commercial vehicle segment delivered its highest ever quarter for volumes, recording 3.25 lakh units sold. Simultaneously, electric mobility continued to gain traction. EV cars grew at about 50
50%
kh units sold. Simultaneously, electric mobility continued to gain traction. EV cars grew at about 50% Y-o-Y in quarter 4, while EV two-wheelers grew at 39% Y-o-Y, again, expanding to a better chargin
39%
nued to gain traction. EV cars grew at about 50% Y-o-Y in quarter 4, while EV two-wheelers grew at 39% Y-o-Y, again, expanding to a better charging station network and also urbanization of the rural c
INR237 crore
strongest ever quarterly performance in Q4 FY26. Our consolidated revenue from operations stood at INR237 crores in the quarter with a growth of 15% year-on-year. At the EBITDA level, at Q4, we declared EBITD
15%
. Our consolidated revenue from operations stood at INR237 crores in the quarter with a growth of 15% year-on-year. At the EBITDA level, at Q4, we declared EBITDA of INR45 crores, a growth of 12.9% a
INR45 crore
the quarter with a growth of 15% year-on-year. At the EBITDA level, at Q4, we declared EBITDA of INR45 crores, a growth of 12.9% and a record high margin of 18.7%, reflecting robust operating leverage and di
12.9%
of 15% year-on-year. At the EBITDA level, at Q4, we declared EBITDA of INR45 crores, a growth of 12.9% and a record high margin of 18.7%, reflecting robust operating leverage and disciplined cost ‘man
Guidance — 20 items
Anuj Talwar
opening
“The Indian automotive industry closed FY26 on a strong note, despite a challenging global environment marked by geopolitical tensions, supply chain distuptions, inflationary pressures, the domestic automotive ecosystem demonstrated resilience.”
Anuj Talwar
opening
“In quarter 4 FY26, the passenger vehicle segment continued its momentum, posting its highest ever quarter 4 sales of 13.16 lakh units, representing a 13% Y-0-Y growth.”
Anuj Talwar
opening
“I'm extremely pleased and delighted to share that Talbros Automotive has delivered its strongest ever quarterly performance in Q4 FY26.”
Anuj Talwar
opening
“In quarter 4 FY26, the division delivered revenue of INR164 crores, a growth of 15% year-on-year with EBITDA.”
Anuj Talwar
opening
“The Heat Shield segment continues to scale meaningfully with FY26 revenues at INRS8 crores.”
Anuj Talwar
opening
“The Lohum Talbros joint venture amnounced in H1 of FY26 marks our entry into ESG, advantage circular economy space focused on recovered carbon black and devulcanized rubber.”
Anuj Talwar
opening
“With the RCB market growing at 35% CAGR and the devulcanized rubber growing at 10% globally.”
Anuj Talwar
opening
“FY26 had a strong year in terms of new order wins.”
Anuj Talwar
opening
“In line with this growth visibility, we are going to invest INRS1 crores in '26 and plan to invest about INR103 crores in '27.”
Anuj Talwar
opening
“Our focus will be depending on decpening relationships with existing customers in India as well as overseas.”
Risks & concerns — 7 flagged
Page 2 0of 16 On the global front, structural challenges in Europe, automotive industry, weak OEM and Tier 1 balance sheets, supply consolidation, a global OEM actively reducing China dependence are exceeding supply chain realignments towards India.
— Anuj Talwar
Its very, very difficult to -- I can say that by the end of this year, 70% order will be commercialized, our total order book
— Navin Juneja
It's a continuous process very difficult to track, because lot -- some are very, very small orders, very difficult to track cach and every.
— Navin Juneja
Have we seen margin compression this quarter in Forging division, because revenue grew at 11% and EBITDA grew at 3%.
— Navin Juneja
That's why this quarter little margin is under pressure.
— Navin Juneja
Sir, number one, every OEM has a cost pressure overseas.
— Navin Juneja
So my apprehension is that don't you think this could lead to like a customer concentration risk for the business that Maruti s contributing the maximum?
— Neil
Q&A — 7 exchanges
Q
AmT yes?
Navin Juneja
Alittle louder. Yes, you're yes. Is this better? No, it's cracking. It's coming very, very high pitch. Sir, s this better now? It's better now. Anubhav Mukherj Sir, thanks for the opportunity. Sir, my first question is that if I look at the, like, order wins declared in our investor presentations over last three financial years, it seems that you've declared order wins of almost like close to INR4,000 crores. But the revenue growth over last - - since FY24 has not been in line with that kind of order win. And I understand that some of the issues, has been with like international OEMs and Europ
Q
Yes. Sir, can you hear me?
Navin Juneja
Yes. So sir, actually, more of the questions are already answered. So one of the question is that like what will we drive the aspiration growth target of something around 18% to 20%? And is this going to be a purely organic? Can you repeat the question, please? Yes. So what will we drive the aspirational growth target of 18% to 20% going ahead? And it is going to be a purely organic growth or something inorganic growth are going to increase? So I'm talking about organic growth reason how can we amive at that? I will talk about consolidated basis. I will not talk business to business. Last year
Q
Hello, sir. Am I yes?
Navin Juneja
Yes, you are yes, Shikha. Congratulations on the great set of numbers. I just had a few questions. One is on the Forging division. Have we seen margin compression this quarter in Forging division, because revenue grew at 11% and EBITDA grew at 3%. So I'm trying to understand what happened there? And can you also help us understand what the way forward is in specifically in the Forging division? As you're aware, in the Forging division, all the raw materials increase-decrease is passed on to our customers and we reset the exchange rate up every quarter. Okay? There was a price in the month of J
Q
Yes. Hello, sir. Am I yes?
Navin Juneja
Yes. Sir, on the last eamings call, you mentioned that we will be able to achieve INR 1,100 crores top line in FY27. So are we sticking to that number? Wait, what we said, what we said, we will top line of? INR1,100 crores. I couldn't get you yet. Yes, top line of INR1,100 crores. Yes. This year, we should be able to cross INR1,000 crores. Okay. Also on the margin side, we'll be able to... We are targeting for crossing INR1,000 crores this year, definitely. Okay. So also on the margin side, will we be able to maintain the current EBITDA margin range going forward in FY27 also? 17% definitely.
Q
Thank you for the opportunity. Am I yes?
Navin Juneja
Yes yes, Dipen. Congrats on a good set of numbers, sir. Just had one question. Over the past couple of years, we have been seeing that the company has got a good number of orders in domestic as well as in the export market. So could you just give us some more color on when you get orders in the export market from established OEMs, what is your right to win? And in the sense that what's the USP, which you have, because of which you're either able to substitute existing vendors or maybe get new orders for new products? So maybe some more color on some qualitative aspects on why are you winning t
Q
Hello. Am I audible, sir?
Navin Juneja
Yes. So they've been saying that the JV's have been performing really well. And I guess in the past one year, they have been doing the heavy lifting for the Talbros. So, going ahead, do you have any guidance for both the JV's? Yes. Next year, I'm expecting Marelli maybe should to grow between 35% to 40% and Marugo should be around 15%. This is the top line guidance. T beg your pardon, 15% for Marugo? Yes, 15% - around 15% from Marugo and Marelli should be between 35% to 40%. Okay. Sir, T have another question. In your presentation, you mentioned that among the top 10 customers, Maruti contribu
Q
Well, thank you all for joining the conference. We are proud of our achievements of quarter 4 last year and the year ending. We are confident of quarter 1 being strong, as Navin mentioned. We are strong in our order acquisition. At the same time, there are inflationary pressures, not only for us, but across the country, across segments, across industries, but we'll make sure we ‘manage them and deliver a better performance than the past. Thank you so much.
Navin Juneja
Thank you.
Speaking time
Navin Juneja
45
Moderator
8
Anubhav Mukherjee
8
Athul Joby
7
Dipen Shah
7
Anuj Talwar
6
Neil
6
Subhash Gate
4
Shikha Mehta
4
Kaushal Shah
3
Opening remarks
Anuj Talwar
Ladies and gentlemen, good day, and welcome to Talbros Automotive Components Limited Q4 and FY26 Eamings Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on the date of this call These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. I now hand the conference over to Mr. Anuj Talwar, Managing Director. Thank you, and over to you, sir. Thank you. Good afteroon, everyone. A very warm welcome to the Talbros Automotive Components Limited camings call for q
Navin Juneja
Thank you, Anuj. Good afternoon, and a warm welcome to all the participants. As mentioned by Anuj, we are pleased to report a solid performance in Q4 of FY26, driven by both domestic and export demand across all our business segments. Consolidated financial performance for Q4 FY26. For Q4 FY26, revenue stood at INR241 crores as against INR211 crores in Q4 FY25. For Q4 FY26, EBITDA stood at INR45 crores with a margin of 18.7%. Total revenue from operations for FY26 stood at INRS8 crores as against INRS4S crores in FY25, registering a growth of 5% on Y-0-Y basis. EBITDA for FY26 stood at INR155 crores as against INR147 crores in FY25. EBITDA margin remained healthy at 17.5%, reflecting the benefits of operational improvement, cost management initiatives and a better product mix. Profit after tax for FY26 stood at INR104 crores as against INRO4 crores in FY25, registering a healthy growth of 10% on a Y-0-Y basis. Page 5 0of 16 Now coming to our division-wise performance. Now, I come to Ga
← All transcriptsTALBROAUTO stock page →