Submission of Earning Call Transcript

Emmforce Autotech reported H1 FY'26 results with standalone turnover up 33.3% YoY to INR49.64 cr, driven by 39% growth in USA business (INR41.07 cr vs INR29.52 cr). EBITDA rose 9.7% and standalone PAT grew 12.5% to INR6.43 cr, while consolidated PAT declined 16.6% due to higher depreciation from new asset capitalization in subsidiary. Gross margins improved to 44.5% from 40% earlier, aided by currency, operational efficiencies, and better product mix. Company secured a INR10.5 cr annual drivetrain supply order from a US customer, added three new US customers despite tariffs, and the INR470 cr subsidiary order is awaiting commercial go-ahead (expected anytime). Management guided consolidated revenue of INR125-135 cr in FY26, INR175-200 cr in FY27, and INR250-300 cr by FY28, with a long-term potential of INR650 cr over 3-5 years. EBITDA margin target maintained at 20-21%. Subsidiary (Emmforce Mobility) expected to turn net profitable next year with INR50-75 cr revenue potential. Forging plant to operate on two shifts by FY26 end, adding 0.5-1% to margins.