Studds Accessories earnings calls.

Studds Accessories delivered a strong Q3 FY26 with 26.3% PAT growthCurrent reported value: 26.3% PAT growth. No comparable prior figure is available in the source record. and 160bps EBITDA margin expansionCurrent reported value: 160bps EBITDA margin expansion. No comparable prior figure is available in the source record. to 18.8%, driven by favorable raw material prices, procurement efficiencies, and better product mix. Revenue grew 9.4% YoY to Rs 163crCurrent reported value: 9.4% YoY to Rs 163cr. No comparable prior figure is available in the source record. despite being a seasonally investment-heavy quarter where marketing spend was up ~Rs 5 crore sequentially due to participation in India Bike Week and IKEMA Italy. Capacity utilization reached 96%Current reported value: 96%. No comparable prior figure is available in the source record. in Q3, confirming supply constraints, though the company added 5 lakh units of temporary capacity bringing total to 9.5 million. The Spain subsidiary remains on track for Q1 FY27 commercial launch to support European expansion targeting 300,000 units (6-7% market share) in 2-3 years. Management expects Q4 to exit higher than Q3 and targets blended ASP beyond Rs 800 in FY27, supported by SMK premium brand mix improvement (13% to 25% of revenue). Risks include raw material cost reversal (styrene prices rising post-December), near-full capacity limiting near-term volume growth, and potential competitive pressure from the India-EU FTA if it benefits Chinese competitors.