Auto Parts & Equipment company Studds Accessories announced Q1FY27 results Standalone Financial Highlights: Total Income for Q1FY27 was Rs 1,701.87 million, registering a marginal increase of 0.37% QoQ from Rs 1,695.53 million in Q4FY26 and a growth of 12.76% YoY from Rs 1,509.30 million in Q1FY26. Revenue from Operations in Q1FY27 stood at Rs 1,669.43 million, compared to Rs 1,663.54 million in Q4FY26, a growth of 0.35% QoQ and a 12.69% YoY increase from Rs 1,481.38 million in Q1FY26. Profit before tax for Q1FY27 reached Rs 178.06 million, a decrease of 39.38% QoQ from Rs 293.72 million in Q4FY26 and a 35.99% YoY decrease from Rs 278.21 million in Q1FY26. Net Profit for the period Q1FY27 was Rs 132.52 million, recording a decline of 38.41% QoQ from Rs 215.18 million in Q4FY26 and a 35.21% YoY decline from Rs 204.53 million in Q1FY26. Basic and Diluted Earnings Per Share (EPS) for Q1FY27 was Rs 3.37, compared to Rs 5.47 in Q4FY26 and Rs 5.20 in Q1FY26. Consolidated Financial Highlights: Total Income for Q1FY27 stood at Rs 1,729.20 million, an increase of 1.28% QoQ from Rs 1,707.41 million in Q4FY26 and a growth of 13.75% YoY from Rs 1,520.11 million in Q1FY26. Revenue from Operations in Q1FY27 was Rs 1,696.76 million, growing 1.27% QoQ from Rs 1,675.42 million in Q4FY26 and 13.71% YoY from Rs 1,492.19 million in Q1FY26. Profit before tax for Q1FY27 was Rs 171.96 million, representing a decrease of 40.54% QoQ from Rs 289.19 million in Q4FY26 and 37.85% YoY from Rs 276.68 million in Q1FY26. Net Profit for Q1FY27 stood at Rs 122.97 million, recording a decline of 41.72% QoQ from Rs 210.99 million in Q4FY26 and a 39.26% YoY decline from Rs 202.46 million in Q1FY26. Basic and Diluted Earnings Per Share (EPS) for Q1FY27 was Rs 3.12, compared to Rs 5.36 in Q4FY26 and Rs 5.14 in Q1FY26. Business Highlights: Expansion in Europe: The Board approved a further investment in its Wholly Owned Subsidiary, SMK Helmets Europe SRL, Italy, amounting to up to EUR 10,00,000 (Euro Ten lakh). The subsidiary was incorporated on May 22, 2026, to handle importation, distribution, and sales in Europe. Expansion in USA: The Board approved a further investment of USD 99,936 in its Wholly Owned Subsidiary, Bikerz US Inc. The subsidiary reported a turnover of Rs 8.77 crore for FY26. Subsidiary Financials: For Q1FY27, Bikerz US Inc. reported revenue from operations of Rs 35.38 million and a net loss of Rs 1.82 million. SMK Helmets Europe SRL reported a net loss of Rs 9.00 million for the same period. Sidhartha Bhushan Khurana, Managing Director’s Desk, said: “We delivered a healthy 13.7% YoY growth in revenue to Rs 169.7 crore in Q1FY27, reflecting continued traction across our key markets, with the overall demand environment remaining stable. The quarter, however, witnessed significant inflation in key styrene-based raw material prices, which resulted in temporary pressure on our profitability. While we have undertaken pricing actions to offset the increase in input costs, the full benefit of these price increases is yet to flow through. With raw material prices beginning to moderate from July onwards, we expect the combined benefit of lower input costs and progressive price realisation to support a strong recovery in margins over the coming quarters. We remain focused on strengthening our capacity and expanding our growth platforms. Our planned addition of 1.5 million p.a. helmets capacity is progressing as scheduled and is expected to commence operations by October 2026. This capacity addition will provide us with the necessary headroom to cater demand and further strengthen our market position. We are also progressing well on our strategic engagement with Decathlon, which provides an opportunity to further strengthen our presence in the organised and institutional segment. In parallel, our international expansion remains firmly on track, with the establishment of our operations in Italy progressing as planned and commercial operations expected to commence from October 2026. We believe this will enhance our ability to serve international customers more effectively and create a stronger platform for overseas growth. Overall, we remain optimistic about the growth outlook. With stable underlying demand, capacity expansion underway, increasing opportunities across domestic and international markets, and a gradual moderation in styrene-based raw material prices, we remain confident of delivering sustainable growth and improving profitability over the coming quarters” Result PDF
Auto Parts & Equipment company Studds Accessories announced Q4FY26 & FY26 results Consolidated Financial Highlights: Revenue from Operations: For Q4FY26, revenue stood at Rs 1,675.42 million, reflecting a YoY growth of 11.88% from Rs 1,497.51 million in Q4FY25, and a QoQ increase of 2.76% from Rs 1,630.35 million in Q3FY26. Annual revenue for FY26 was Rs 6,342.33 million, marking an 8.61% YoY growth compared to Rs 5,839.51 million in FY25. Total Income: Total income for Q4FY26 was Rs 1,707.41 million, up 10.77% YoY against Rs 1,541.45 million in Q4FY25, and an increase of 3.06% QoQ from Rs 1,656.74 million in Q3FY26. The total income for FY26 reached Rs 6,457.49 million, up 8.37% YoY from Rs 5,959.00 million in FY25. Profit for the Period (Net Profit): In Q4FY26, net profit grew by 6.08% YoY to Rs 210.99 million compared to Rs 198.90 million in Q4FY25, and recorded a QoQ rise of 1.99% from Rs 206.88 million in Q3FY26. For the full year FY26, the net profit surged by 18.68% YoY to Rs 826.53 million against Rs 696.43 million in FY25. Standalone Financial Highlights: Revenue from Operations: Q4FY26 revenue was Rs 1,663.54 million, registering a YoY increase of 11.92% from Rs 1,486.42 million in Q4FY25, and reflecting a 3.04% QoQ growth from Rs 1,614.48 million in Q3FY26. Annual revenue for FY26 increased by 8.18% YoY to Rs 6,301.85 million from Rs 5,825.59 million in FY25. Total Income: Total income for Q4FY26 grew by 10.57% YoY to Rs 1,695.53 million against Rs 1,533.51 million in Q4FY25, while growing 3.33% QoQ from Rs 1,640.87 million in Q3FY26. For FY26, total income increased by 7.88% YoY to Rs 6,417.01 million compared to Rs 5,948.23 million in FY25. Profit for the Period (Net Profit): Q4FY26 net profit jumped by 10.62% YoY to Rs 215.18 million from Rs 194.52 million in Q4FY25, alongside a 4.87% QoQ rise from Rs 205.18 million in Q3FY26. Annual profit for FY26 stood at Rs 837.53 million, a strong 18.33% increase from Rs 707.78 million in FY25. Business Highlights: Dividend: The Board of Directors recommended a dividend of Rs 3/- per equity share of face value of Rs 5/- each for FY26 (i.e., 60%), subject to the approval of shareholders in the ensuing Annual General Meeting. IPO Update: During the year, the equity shares of the Company were listed on the stock exchanges pursuant to an Initial Public Offering (IPO) consisting entirely of an offer for sale by the existing shareholders. No funds were raised by the Company by way of a fresh issue of equity shares. Employee Stock Option Scheme: The Board approved the formulation, adoption, and implementation of the "Studds Accessories Limited Employee Stock Option Scheme 2026" (Studds ESOP Scheme 2026). The maximum number of options to be granted will not exceed 0.75% of the post-issued equity share capital, exercisable into not more than 2,97,381 fully paid-up equity shares. Leadership & Organizational Restructuring: Due to increasing geographic reach and business complexity, the Board undertook a strategic organizational restructuring. Mr. Manish Mehta will step down from the position of Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective July 1, 2026, transitioning to a new role as Vice President - Taxation & Compliance. Subsequently, Mr. Bharat Goyal has been appointed as the new CFO and KMP of the Company, effective July 1, 2026. Subsidiary Investment: During the year, the Company made further investments in its wholly-owned subsidiary, Bikerz US Inc., by subscribing to 619 shares for an aggregate consideration of Rs 17.45 million. Segment Performance: The Group operates in a single reportable business segment, i.e., manufacture and sale of helmets and accessories. Therefore, separate segment-wise information has not been presented. Sidhartha Bhushan Khurana, Managing Director’s Desk: “We are pleased to report a strong performance for FY26, with revenue growing by 8.6% YoY to Rs 634 crore, EBITDA increasing by 16.4% YoY to Rs 122.2 crore with EBITDA margins improving to 19.3%, and PAT rising by 18.7% YoY to Rs 82.7 crore. The year was marked by healthy growth across both domestic and export markets, supported by an improved product mix, premiumisation initiatives, operational efficiencies, and strong brand acceptance across segments. While raw material prices have been witnessing an upward trend since March, there are currently no challenges with sourcing or availability of key inputs. To safeguard against rising input costs, we have implemented calibrated price hikes across our por?olio and distribution channels, averaging around 8–9%. We are also pleased to share that we are currently in the process of onboarding the globally recognised premium riding gear, helmet and motorsports brand Alpinestars under our private-label helmet segment. On the expansion front, we continue to make steady progress in establishing our presence in Europe, particularly in Italy, with operations expected to commence from Q2FY27. Simultaneously, our Phase-I capacity expansion of 1.5 million helmets per annum is progressing as planned and is expected to commence operations by Q2FY27. Further, an additional 1.5 mn helmets are planned for capacity expansion over the next 15–18 months. Post completion of these expansions, our total installed capacity will increase by 30% over FY26 levels to 12.5 mn helmets per annum. With enhanced capacities and a deeper focus on premium and value-added products, we remain confident of driving the company’s next phase of growth through strengthened global brand positioning, expansion of our international footprint, and continued premiumisation-led sustainable growth.” Result PDF
Auto Parts & Equipment company Studds Accessories announced Q3FY26 results Revenue: Rs 163 crore against Rs 149 crore during Q3FY25, change 9%. EBITDA: Rs 30.7 crore against Rs 25.6 crore during Q3FY25, change 20%. EBITDA Margin: 18.8% for Q3FY26. PAT: Rs 20.7 crore against Rs 16.4 crore during Q3FY25, change 26%. PAT Margin: 12.7% for Q3FY26. Sidhartha Bhushan Khurana, Managing Director’s Desk, said: “We are pleased to present an update on our financial and operating performance for 9MFY26, along with key developments across our business. We would summarise the period as follows: Revenue from Operations grew 7.5% YoY to Rs 466.7 crore, driven by steady demand across core product categories despite a mixed operating environment. Gross margins expansion was driven by favorable raw material prices and improved procurement efficiency. Other expenses increased in Q3FY26, primarily due to higher advertising and marketing spends for participation in marquee events such as IBW and EICMA and targeted digital brand-building initiatives. Our 1.5 million unit capacity expansion (helmets and boxes) has been deferred by one quarter due to pollution-related construction restrictions; this will have no material impact on mediumterm growth plans. Further to fulfil ongoing demand, we have further optimised our production process and have added additional machinery, which will allow us to produce an additional 5 lac units on an annual basis. Incorporation of WOS in Spain is progressing as planned, with commercial operations expected to commence sometime in Q1FY27. The India–EU free-trade agreement is expected to support long-term export-led growth and competitiveness. While certain near-term execution timelines were influenced by external factors, our strategic priorities remain unchanged. We continue to focus on disciplined capital deployment, margin expansion, and international diversification to drive sustainable and profitable growth. Thank you for your continued support” Result PDF
Conference Call with Studds Accessories Management and Analysts on Q2FY26 Performance and Outlook. Listen to the full earnings transcript.