Earnings Call Transcript Summaries

Transrail Lighting Limited TRANSRAILL Q4FY26 📝 Transcript · Capital Goods

Filed 02 Jun 2026

Tower capacity doubled; conductor capacity to double by H1 FY27; additional INR203 Cr capex approved for construction equipment
Order book INR16,361 Cr provides over two years revenue visibility; new order intake FY27 expected INR10,000-11,000 Cr
FY26 revenue grew 30% to INR6,880 Cr; EBITDA INR820 Cr (+21%), margin 11.92%; PAT INR421 Cr (+28%)
FY27 revenue growth guidance 20-22%; EBITDA margin guidance around 11%
International orders ~50% of revenue; Africa ~20% of order book; Bangladesh ~3-4%
30-35% of contracts have price variation clauses allowing cost pass-through

JK Tyre & Industries Limited JKTYRE Q4FY26 📝 Transcript · Automobile and Auto Components

Filed 02 Jun 2026

Demand outlook FY27: mid-single digit growth expected; no OEM order cuts; geopolitical risks remain
Raw material costs expected to rise 18-20% in Q1FY27; price hikes of 4-7% taken, further 5-6% underway
FY27 capex Rs.1,200 Cr planned; total Rs.6,110 Cr expansion by FY29, funded by debt and internal accruals
FY26 consolidated revenue Rs.16,384 Cr +11% y-y; EBITDA Rs.2,089 Cr +25%; PAT Rs.774 Cr +50%
JK Tornel Mexico stable FY26 revenue Rs.2,138 Cr; EBITDA Rs.141 Cr; PBT +63%, PAT +91% y-y
Management optimistic on USMCA extension and easing commodity prices post Q2FY27

Amara Raja Energy Mobility Ltd ARE&M Q4FY26 📝 Transcript · Automobile and Auto Components

Filed 02 Jun 2026

FY27 capex INR 1,500-1,700 Cr; INR 400 Cr Lead Acid, INR 1,100-1,200 Cr New Energy
Cell manufacturing cost gap vs imports ~15-20%; ROCE expected low double-digit at 8-10 GWh scale
FY26 consolidated revenue INR 13,814 Cr, +7.5% y-y; EBITDA margin 10.8% consolidated, 12.2% Lead Acid
FY27 Lead Acid growth mid- to high single digits; margin target 13-14% over time
Q4 FY26 consolidated revenue INR 3,530 Cr, +15% y-y; Lead Acid 92%, New Energy INR 280 Cr
Localization and government policy expected to support New Energy and BESS growth

Shree Refrigerations Ltd 544458 Q4FY26 📝 Transcript

Filed 01 Jun 2026

Commodity inflation factored in bids; some margin impact expected
Order book at INR270 Cr, 1.8x FY26 revenue; market share 64% in defence HVAC
FY27 revenue growth guided at 40% CAGR over 3-5 years; EBITDA margin expected 20-24%
FY26 revenue grew 150% y-y; PAT up 64%; EPS rose 28% despite dilution
Data centre cooling revenue to start FY28; reference installation targeted in FY27
Working capital cycle improved from 570 to 370 days; further reduction expected

Pine Labs Limited PINELABS Q4FY26 📝 Transcript · Financial Services

Filed 01 Jun 2026

FY26 revenue grew 19%, adjusted EBITDA Rs.559 Cr with 500 bps margin improvement
FY27 revenue guidance at 21-23.5% growth; EBITDA expected to improve significantly
Contribution margin stable around 74-75%, minor 2-3% variance expected due to new business mix
Operating cash flow Rs.676 Cr in Q4; full year Rs.395 Cr, expected to improve in FY27
Digital infra business has 2 million touch points; online business grew 60% y-y
Affordability business expanding with more NBFC partners; new employee benefits program launching

LG Electronics India Limited LGEINDIA Q4FY26 📝 Transcript · Consumer Durables

Filed 28 May 2026

Channel inventory manageable; strong demand recovery in Q1 FY27; price hikes taken with no immediate plans for more
FY26 revenue 246.05bn +1.0% y-y; EBITDA 24.08bn (margin 9.8%); PAT 16.85bn (margin 6.8%)
FY27 revenue growth targeted at mid-teen digits; early double-digit EBITDA margin guidance
Multiple analyst questions on margin pressure and export growth; management confident on margin recovery and export expansion
Export expansion key growth driver; Essential Series exports to 22 countries; Sri City plant capex 50bn INR
Q4FY26 revenue 80.54bn +8.1% y-y; EBITDA 9.45bn (margin 11.7%); PAT 6.93bn (margin 8.5%)

Sansera Engineering Limited SANSERA Q4FY26 📝 Transcript · Automobile and Auto Components

Filed 28 May 2026

FY27 capex guidance ~5.1bn; additional 2.5bn capex planned for ADS expansion and new JV
Working capital pressure due to ADS growth; expect optimization as business normalizes
FY26 revenue 34.98bn +16% y-y; EBITDA 6.32bn +23% y-y; EBITDA margin 18.1% (+100 bps y-y); PAT 3.27bn +51% y-y
ADS segment revenue grew 155% in FY26 to 3.5bn; strong order backlog of 44.6bn for 5 years
Automotive division CEO elevated; focus on automation and capacity expansion in 2W, PV, and commercial vehicles
Q4FY26 revenue 9.99bn +28% y-y; EBITDA 1.93bn +52% y-y; EBITDA margin 19.3% (+306 bps y-y); PAT 1.23bn +108% y-y

Wakefit Innovations Limited WAKEFIT Q4FY26 📝 Transcript · Consumer Durables

Filed 28 May 2026

FY26 revenue INR14,889 mn +17% y-y; Q4 revenue INR344 Cr +13.5% y-y; FY26 EBITDA margin 12.2%, Q4 margin 10.6%
FY27 revenue growth targeted at 20%, driven by mattress strength and expanded furniture/furnishing reach
Retail expansion: 139 COCO stores end FY26; 80+ new stores targeted in FY27; 2 jumbo stores planned for FY28
EBITDA margin may face 1-2 percentage point pressure in near term due to inflation and price hikes
Management focused on market share protection and multi-category growth for long-term value
Raw material inflation 25-30% for key inputs; price hikes of 7-8% in March and April implemented

Samvardhana Motherson International Limited MOTHERSON Q4FY26 📝 Transcript · Automobile and Auto Components

Filed 27 May 2026

Consumer electronics revenue grew ~7.5x y-y; EBITDA positive; third facility commissioning Q3 FY27
FY27 capex guidance INR 6,000 Cr ±10%, 50% growth capex focused on emerging businesses
Q4 FY26 revenue grew 17% y-y; EBITDA up 42% with 200 bps margin expansion; PAT +66%
FY26 revenue crossed INR 1.25 Lakh Cr (+11% y-y); EBITDA margin resilient at 9.5%; PAT +17%
Multiple acquisitions progressing; Nexon wiring harness deal expected close by July 2026
Aerospace revenue +40% y-y; order book USD 1.6bn; strong growth and product expansion

Minda Corporation Limited MINDACORP Q4FY26 📝 Transcript · Automobile and Auto Components

Filed 27 May 2026

Capex guidance for FY27: 400-450 Cr; focus on EV, premiumization, new product launches
Multiple analyst queries on EV product mix, margin outlook, and capacity ramp-up addressed
Q4 FY26 revenue 1704 Cr +29% y-y; EBITDA 203 Cr +33% y-y (margin 11.9%); PAT 124 Cr (margin 7.3%)
FY26 revenue 6185 Cr +22.3% y-y; EBITDA 721 Cr +25.5% y-y (margin +29 bps); PAT 358 Cr +40.3% y-y
Long-term vision: INR 17,500 Cr revenue by FY30 at 12.5% EBITDA margin, targeting ~20% CAGR
Strategic JVs with Turntide and Toyodenso advancing; SOPs expected FY27-FY28

Eicher Motors Ltd EICHERMOT Q4FY26 📝 Transcript · Automobile and Auto Components

Filed 26 May 2026

Commodity cost headwind ~3-3.5% in Q1 FY27; 1.75% price hike taken in April
FY27 capacity to rise to 1.6 million units by July; 2 million by Q2 FY28 with Cheyyar expansion
Strong demand outlook with April FY27 growth 31%; premium motorcycle segment growing robustly
FY26 consolidated revenue INR 23,408 Cr, EBITDA INR 5,785 Cr, PAT INR 5,515 Cr
VECV FY26 revenue INR 27,077 Cr, EBITDA INR 2,563 Cr, PAT INR 1,471 Cr; record 103,404 units sold
Royal Enfield FY26 sales 1.227 million motorcycles, domestic +23%, international +20%

FSN E-Commerce Ventures Ltd NYKAA Q4FY26 📝 Transcript · Consumer Services

Filed 26 May 2026

FY26 net revenue INR 10,000 Cr (+26% y-y), EBITDA margin 7.5%, PAT margin 2%, PAT grew 183% y-y
Beauty vertical FY26 GMV INR 15,000 Cr (+27%), EBITDA margin 9.6%; Q4 EBITDA margin 10.3%
Fashion FY26 GMV INR 5,000 Cr (+30%), NSV INR 1,447 Cr (+30%), Q4 EBITDA positive at 0.3%
FY26 ROCE improved to 21.2%, working capital days reduced to 28
Nykaa Now rapid delivery network covers 7 metros with 75-80 stores, plans to increase marketing in FY27
Q4FY26 net revenue grew 28% y-y to INR 2,648 Cr; EBITDA margin 8.4%, PAT margin 3%, PAT grew 313% y-y

Action Construction Equipment Limited ACE Q4FY26 📝 Transcript · Capital Goods

Filed 26 May 2026

Market share stable; margin guidance 15-16% EBITDA excluding other income
Defense order book INR575 Cr; expected 5-6% revenue contribution in FY27
Capex of ~INR200 Cr planned for FY27; new tower crane factory capex INR400 Cr envisaged
FY26 standalone total income INR3,395 Cr, EBITDA margin expanded 81 bps to 18.33%, PAT margin up 73 bps to 12.53%
Commodity inflation and geopolitical risks remain key challenges; company focused on sustaining margins and growth
JV with KATO Works targets INR300 Cr revenue in 3-4 years; potential INR700-800 Cr if antidumping duties apply

Ola Electric Mobility Limited OLAELEC Q4FY26 📝 Transcript · Automobile and Auto Components

Filed 25 May 2026

Gigafactory capacity at 2.5 GWh operational, scaling to 6 GWh by Q2 FY27; plans to expand to 20 GWh next year
Auto business near free cash flow generation; minimal CapEx expected going forward
Multiple analyst queries on breakeven volume and cell cost advantage; management confirms 10-15% cost benefit from own cells at scale
Q4 FY26 consolidated gross margin reached 38.5%, up from 34.3% in Q3 and 13.7% last year
Adjusted EBITDA breakeven at 20,000-25,000 units/month; Q1 FY27 orders expected 40,000-45,000
FY26 revenue 2,253 Cr with 173,794 deliveries; first operating cash flow positive quarter with 91 Cr CFO in Q4

Eureka Forbes Limited EUREKAFORB Q4FY26 📝 Transcript · Consumer Durables

Filed 25 May 2026

FY27 outlook: growth acceleration expected despite uncertain macro environment and cost pressures
Price hike of 6-7% implemented in April to offset input cost inflation; margin hold targeted for FY27
Adjusted EBITDA margin reached 13.2% in Q4, highest ever; FY26 margin expanded 55 bps to 12.2%
Q4 FY26 revenue grew 11.6% y-y to INR 684 Cr; FY26 revenue grew 11.3% to INR 2,710 Cr
Robotics, air purifiers, and water softeners are key growth drivers; robotics to reach INR 1,000 Cr by FY30
Net cash surplus of INR 443 Cr at FY26 end; free cash flow at 148% of reported PAT

Amber Enterprises India Limited AMBER Q4FY26 📝 Transcript · Consumer Durables

Filed 22 May 2026

Temporary margin pressure of 50-100 bps expected due to commodity inflation, wage hikes, currency depreciation
Consumer Durable division grew 14% in FY26; RAC industry flat due to weather; FY27 industry volume growth expected 12-13%
Capex FY27 expected INR1,800-2,000 Cr; net debt to rise to INR700-800 Cr by year-end
FY26 consolidated revenue grew 22% to INR12,186 Cr; operating EBITDA up 22% to INR970 Cr; adjusted PAT rose 22% to INR338 Cr
Electronics division revenue up 49% to INR3,268 Cr; operating EBITDA up 89%; FY27 growth guidance ~40%, margin 9.5-10%
Railway division revenue grew 19%, EBITDA up 8%; FY27 growth guidance 30-35%, margin 16-17%

UNO Minda Limited UNOMINDA Q4FY26 📝 Transcript · Automobile and Auto Components

Filed 22 May 2026

Margin guidance for FY27 around 11% ±50 bps despite startup costs and commodity/labor inflation
Capex of INR 1,750 Cr planned for FY27; 7 of 11 projects to start/ramp-up including EV powertrain and sunroof
FY26 consolidated revenue grew 17% y-y to INR 19,589 Cr; EBITDA up 16% at INR 2,182 Cr with 11.1% margin; PAT rose 24% to INR 1,166 Cr (normalized)
Export revenue from India expected to grow from INR 600 Cr to over INR 1,500 Cr in next few years
Infotainment JV with Denso to start SOP in FY29 with INR 600 Cr order; potential to grow beyond INR 1,500 Cr by FY30
Fundraising resolution of INR 2,500 Cr is enabling only, no immediate plans disclosed

Apollo Micro Systems Limited APOLLO Q4FY26 📝 Transcript · Capital Goods

Filed 21 May 2026

Order book at INR1,432 Cr provides strong growth visibility; large ticket orders expected in FY27-FY28
FY26 consolidated revenue grew 61% y-y to INR904 Cr; EBITDA +69% to INR218 Cr; PAT +91% to INR107 Cr
EBITDA margin expanded 114 bps to 24%; PAT margin expanded 185 bps to 12% in FY26
No supply chain disruptions currently; global geopolitical risks monitored
R&D spend at 8% of revenue (~INR72 Cr); focus on RF, AI, inertial navigation tech
Expansion into land defense systems and explosives; first export order received

Wheels India Ltd WHEELS Q4FY26 📝 Transcript

Filed 21 May 2026

Management addressed questions on demand trends and margin outlook
Insights into upcoming product launches and market expansion plans
Discussion covered Wheels India's latest financial performance and strategic outlook
Commentary on capacity utilization and supply chain status
Transcript of conference call with fund managers, analysts, and investors held on May 15, 2026

Bosch Limited BOSCHLTD Q4FY26 📞 Audio · Automobile and Auto Components

Filed 21 May 2026

Q4 FY26 EBITDA grew 20.8% YoY; FY26 EBITDA up 14.7% driven by revenue growth, material cost reduction, and expense control.
Domestic automotive segments expected steady/flattish volume growth; content per vehicle to increase with CAFE3 and ADAS regulations.
Flattish volume outlook reflects caution due to macro uncertainties and potential inflation impact.
Other expenses declined 9% YoY due to lower customer project costs and better fixed cost absorption.
FY27 outlook cautious optimism amid geopolitical risks, especially West Asia conflict impacting crude prices.
Commercial vehicle JV operations to start late FY27, with revenue from Q3 FY28.

🎙 Transcript Summaries