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JTEKTINDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
JTEKT India reported 11% sales growth in FY25-26, outperforming the 9% passenger vehicle market growth. Revenue increased from INR2,300 crores to INR2,600 crores. EBITDA margin improved in H2 to 8.48% vs 7.71% last year, but full-year margin declined slightly from 7.60% to 7.5% due to product mix changes (negative INR88 million impact from Maruti shift), forex costs (INR62 million), and US reciprocal tariffs (INR63 million). The company successfully completed its maiden rights issue with overwhelming public participation. New capacities are being ramped up: CVJ lines at 27-83% utilization, MS Gear Line 5 at 106%, and CPS Line 3/4 at 50%. Management expects full capacity utilization within 1.5 years and targets INR500 crores additional sales next year from existing setup.
Shareholders can expect revenue growth as new capacities for Maruti e Vitara/Victoris and CVJ ramp up, though near-term margins remain under pressure from product mix and one-time costs. The INR411 crores CWIP will weigh on ROCE until capacities are fully utilized.