PPAP Automotive

PPAP Automotive reported a strong Q4 FY26 with consolidated revenue of ₹175.5 croreCurrent reported value: ₹175.5 crore. No comparable prior figure is available in the source record., up 18.6% YoYCurrent 18.6% vs previous available quarter 0%. and 25.7% QoQCurrent reported value: 25.7% QoQ. No comparable prior figure is available in the source record., driven by improved execution and normalization of customer schedules. EBITDA grew 12.9% YoYCurrent reported value: 12.9% YoY. No comparable prior figure is available in the source record. to ₹16.9Current reported value: 16.9. No comparable prior figure is available in the source record. crore, though margins contracted ~50bps YoY due to one-time employee costs and mark-to-market losses. Capacity utilization improved to 78%Current 78%. Reported change: +8pp YoY., and the company secured new business worth ₹840 croreCurrent ₹840 crore. Reported change: N/A. across EV/ICE platforms. Management highlighted strategic restructuring: divestment of PPAP Tokai JV for ₹100 crore, hiving off tooling business into a subsidiary, and merging battery subsidiary Avenia Batteries. Aftermarket grew 36%Current 36%. Reported change: +36% YoY. YoY. Guidance for FY27 is deferred to Q1 due to demand uncertainty. Key risk: slower-than-expected demand recovery from automotive OEMs and geopolitical disruptions.