Double-digit consolidated revenue growth for FY27
Management reaffirmed guidance issued in May 2026 press release. Double-digit revenue growth target remains despite Q1 margin pressures in India business.
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Consolidated EBITDA margin of 12-13.5%
Consolidated operational EBITDA margin guidance of 12-13.5% maintained. GCM guided at 10-12%, ICM around 15%, PL around 12%, ED around 10%.
ICM margin recovery by Q2-Q3
Management expects wage cost pass-through negotiations with customers to conclude within 1-2 quarters, with margins recovering most of the 100-200bps lost in Q1. Internal cost reduction initiatives underway.
Phoenix Lighting recovery expected Q2-Q3
New prices now effective in PL division after delayed pass-through in Q1. Management expects recovery going forward with US retailer business ramping up significantly.
Ex-SCS EBITDA margin 12-14%
Company targets 12-14% EBITDA margin for consolidated operations excluding SCS, with 14% already achieved in Q2, representing the higher end of guidance.
SCS breakeven by Q4 FY26
SCS operations expected to turn EBITDA positive by Q4 FY26 as restructuring completes, Poland plant closed, all European production moved to Morocco by December 2025.
H2 growth to exceed H1
Second half expected to be stronger than first half driven by festival season demand, aftermarket traction, and new braking system project ramp-ups.
5-10% growth ahead of global industry
Company maintains guidance of growing 5-10% ahead of global automotive industry, with India operations expected to continue outperforming market.
Double-digit revenue growth for FY27
The group expects double-digit revenue growth in FY27 based on already-won business contracts and new product launches, though this is subject to customer launch timing.
Consolidated EBITDA margin of 12-13.5% for FY27
Guiding for 12-13.5% consolidated EBITDA margin for FY27, inclusive of SCS, driven by operational improvements and restructuring benefits.
GCM EBITDA margin to reach 10-12%
Global Cables & Mechatronics division (combining FCD and SCS from Q1 FY27) targeted at 10-12% EBITDA margin, up from 6% in FY26, through restructuring and operational excellence.
Capex of ₹200 crore for FY27
₹200 crore capex allocated for growth: ₹80 crore for India operations (including SA2 Chennai plant), ₹50 crore for global operations, ₹50 crore for STC building completion, and ₹15-16 crore for corporate IT infrastructure.