Delta Autocorp Limited — Q4 FY26
Delta Autocorp reported a challenging FY26 with revenue and profitability impacted by delayed government orders and a structural shift in the three-wheeler segment from L3 to L5...
bearish
high
✓ Verified against BSE filing
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
75%Questions answered2Evaded / deflected12Questions auditedContradictedNumbers vs filing
Partial answer
High priority
Current order book position and pipeline.
Asked by Nishita Shangesha, Safi Capital
Management clarified orders are not yet in hand, but gave pipeline numbers.
pipeline vs confirmed orders unclear
Read the exchange
Question
I just wanted to understand what is our current audible position.
Management (unidentified)
approximately 8 to 10 cr worth of orders we are expecting to be allotted to us very soon... another 10 crores also we expect... totally the order book would be about 18 to 20 kores
Answered
High priority
Reason for revenue decline and margin compression, sustainable margins.
Asked by Nishita Shangesha, Safi Capital
Management explained reasons and gave a margin range.
Read the exchange
Question
our revenue has been grown and exciting... wanted to understand what is the reason for that and even our margins have compressed quite a lot. So what are the sustainable margins we can see going forward?
Management (unidentified)
two major factors... government order of about 20 cr rupees... could not happen... three-wheer industry undergoing transition... we expect the margins to be in the 8 to 10% range.
Answered
High priority
Whether 20 cr government order will be executed in FY27.
Asked by Nishita Shangesha, Safi Capital
Management confirmed inclusion and expectation.
Read the exchange
Question
do we expect to execute that in FY27 and is that a part of the order book pipeline that you mentioned?
Management (unidentified)
the orderable pipeline is including this 20 K execution... we definitely expect that the entire 20 should be executed in F7.
Answered
Medium priority
Capex for FY27 and quantification.
Asked by Nishita Shangesha, Safi Capital
Management quantified capex range.
Read the exchange
Question
do we see any kind of capex in FY27?
Management (unidentified)
the capex would be in the tune of like 9 to 10 cr rupees or I would say 8 and a half to 10 cr rupees and fy 27 pertaining to new product development specifically.
Answered
High priority
Revenue guidance for FY27.
Asked by Nishita Shangesha, Safi Capital
Management gave specific revenue guidance and breakup.
Read the exchange
Question
if you could build some sort of guidance for topline and 27... Can we see us reaching 100 or 120 of top line?
Management (unidentified)
we are expecting a top line of approximately 105 cr for the next for FY27... about 60 cr from two dealer channel business 20 cr from government... 15 cr from free media... about 8 to 10 crores on spare part revenue.
Answered
High priority
Reason for spare part revenue decline from 17 cr to 5.64 cr.
Asked by AID but with MIT engineers
Management provided two specific reasons for the decline.
Read the exchange
Question
spare part in FY25... you reported a 17 cr spare part sales it's now down to 5.64 64 K. So first question is it was the IPO window tracing suggested by the merchant banker or there is some structural change.
Management (unidentified)
two reasons for the decline... first the effort business has become significant more... margins have come under pressure... customers have increasingly shifted towards direct procurement... secondly a small portion is linked to the slowdown in the LP squeezer segment.
Evasive
High priority
Why company is not growing like peers (e.g., Value Mobility).
Asked by AID but with MIT engineers
Management did not address the growth gap directly, cited long-term strategy.
no specific growth plan timelinedeflected to product development
Read the exchange
Question
why when peers can grow at 82 85%age in this sector we are not growing... please tell us the mentality of the management what management wants to do... is there any real growth our company can achieve?
Management (unidentified) and Amit
we have focused more on developing our engineering and product development capability... we now have four RTO scooters in our pipeline... we see that we can participate in sustained growth... it's part of a long-term strategy.
Answered
Medium priority
Update on show cause notice dated 28 Feb 2026.
Asked by Canel Savla, Art Invest
Management explained the notice and status.
Read the exchange
Question
there was a showcase notice published on 28th of February, 2026. Any update of that?
Management (unidentified) and Rish
the showcase notice... was pertaining to a dispute regarding GST notification... we have won an exactly similar case... we already replied to the department and waiting for them.
Answered
High priority
Two-wheeler and three-wheeler unit sales for current and previous year.
Asked by Canel Savla, Art Invest
Management provided specific unit numbers.
Read the exchange
Question
what was the two wheeler and three wheeler previous year and current year which you had given the results unit wise.
Management (unidentified)
two wheeler segment total sales was about 11,844 units... previous year it was 10,299 units... channel sales 10,454 vs 5,824... OE business 1390 vs 4475... three wheeler this year 2989 units last year 3722 units.
Partial answer
Medium priority
Status of motorcycle launch and timeline.
Asked by Canel Savla, Art Invest
Management gave reason and tentative timeline but not firm.
no firm commitment on launch date
Read the exchange
Question
What about the bike which you were planning to bring in?
Management (unidentified)
the primary reason why we did not launch the motorcycle was prioritization on capital allocation... we are actually targeting and trying to launch it by end of this financial year.
Answered
High priority
Capex to revenue ratio and expected output from capex.
Asked by AU Thiagi, Hakong Capital
Management quantified expected revenue from capex.
Read the exchange
Question
what sort of output do we expect from there in terms of revenue, what is the capex to revenue that you're looking at?
Management (unidentified)
the additional revenue from that... would be about like 50 cr rupees on a capex of say like 10 cr rupees... overall turnover would be about 150 155 for FI28.
Evasive
Medium priority
Why company does not offer buyback given high cash balance.
Asked by Ashok Sha
Management did not give a clear answer on buyback possibility.
no commitmentvague reasons
Read the exchange
Question
what problem does the company faces to give buyback offer... we are holding lots of cash in our bank account.
Management (unidentified)
the decision relating to company buyback involves several considerations... we do not want to be constrained for cash... every quarter board... opportunity will definitely do something.
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| FY27 revenue guidance of 105 crores | ₹105 cr | ₹37.53 cr | Overstated vs filing |
| FY28 revenue target of 150-155 crores | ₹155 cr | ₹37.53 cr | Overstated vs filing |
| FY29 revenue target of 210 crores | ₹210 cr | ₹37.53 cr | Overstated vs filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.