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Revenue
₹179 Cr
verified against source
Revenue YoY
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EBITDA
Pending
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What the record says.
Precision Camshafts reported a strong standalone PAT of ₹9.58 crore for Q3 FY26, reversing a loss of ₹0.42 crore in the prior quarter and up from ₹5 crore a year ago. Revenue grew 2.17% QoQ to ₹153 crore, with EBITDA margin at 14%. The performance was driven by robust domestic demand and new order wins from Maruti Suzuki, Hyundai, Mahindra, and Tata Motors, cumulatively representing ₹1,500 crore in lifetime revenue. Management guided for sustained growth, supported by a ₹120 crore capex for a new Solapur facility and a 29 MW solar plant. The EV subsidiary EMOS remains stable but loss-making. Key risk: execution ramp-up of new orders and EV regulatory uncertainties could delay revenue recognition.
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Guidance to track
- Cumulative business potential from new orders over program lifetimes, extending order book to 2032.
- Investment in Solapur facility and advanced manufacturing capabilities, machinery installation to complete in calendar year 2026.
- Subsidiary MECO aims to double turnover from ~₹55 crore to ₹100 crore in two years.
Risks flagged
- Changes in regulations and lack of infrastructure (registration, insurance, financing) have slowed the Tata Ace conversion business, and HCV certification is pending.
- New orders from multiple OEMs require timely capacity expansion and quality delivery; any delays could impact revenue recognition.
- EMOS subsidiary faces uncertain market conditions and EV pushback, which could affect stability and growth.
Key quotes
- We have received new order from Maruti Suzuki for three-cylinder engine camshafts with an approximate volume of 12 lakh 40,000 camshafts per year in finished condition starting in 2027.
- These new orders represent a cumulative business potential of nearly 1,500 crores over the lifetime of these programs over and above the strong and stable business that PCL currently enjoys.
- We are very actively looking at opportunities in the Indian market where there is growth in the automotive as well as non-automotive sector including agriculture, non-auto, industrial and defense.
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