Jtekt India Limited has informed the Exchange about Transcript
JTEKTINDIA · price
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JTEKT India held its FY25 earnings call where it reported 7% sales growth versus the passenger vehicle market's 3.7%. However, EBITDA margins contracted sharply from 9.5% to 7.6%, hit by a decline in US exports (-0.6% to margins), a manual gear product recall (-0.3%), and process cost provisions (-0.4%). The company spent Rs 287 crore on capex in FY25 and laid out a Rs 760 crore three-year capex plan including a new Rs 250-650 crore Gujarat facility near Suzuki's plant. Management flagged several new order wins including 100% supply status for an upcoming Maruti EV model starting July 2025, a Tata small commercial vehicle order, and manual gear exports to JTEKT Brazil. CFO Rajiv Chanana indicated the margin pressure was largely one-time and that profitability should improve as utilization of new capacity ramps up, exports rise from 2.4% toward 4-6%, and employee costs ease next year.
Short-term sentiment may be cautious given the 190 basis point EBITDA margin drop, but management's framing of the hit as one-time and the visible order pipeline (Maruti EV, Brazil exports, new CVJ model) offer a recovery story. Shareholders should watch the July ramp-up of new CVJ and CPS lines and whether margin recovery materialises in FY26 as guided.