Investor Presentation on audited financial results for quarter and year ended March 31, 2026
PPAP · price
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PPAP Automotive reported Q4 FY26 consolidated revenue of ₹174.6 crore, up 18.6% YoY, with EBITDA of ₹16.9 crore (margin 9.7%). Full-year FY26 revenue stood at ₹567.1 crore (up 2.4%), while EBITDA declined 10% to ₹51.5 crore. PAT jumped to ₹43.2 crore due to a ₹49.78 crore exceptional gain from selling its 50% stake in PPAP Tokai India Rubber JV for ₹100 crore. The company booked lifetime orders of ₹840 crore in FY26, including a major ₹460 crore Tata Motors order for plastic and rubber parts over 3-5 years. Management acknowledged missing its revised FY26 guidance citing softer customer demand, deferred tooling orders, and supply chain disruptions. A strategic group restructuring is underway including a slump sale of tooling business, merger of Avinya Batteries into PPAP, and rebranding under 'AJAY Group'.
The stock may see mixed reaction - the exceptional JV sale gain and strong order wins are positive, but margin pressure (EBITDA margin fell to 9.1% from 10.3%) and missed guidance could concern near-term focused investors. The ₹840 crore order book provides multi-year revenue visibility.