PPAP Automotive Limited has informed the Exchange about Transcript
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PPAP Automotive reported a 4.9% YoY decline in consolidated revenue to Rs. 116.6 crores for Q1FY26, hit by weak industry demand and delayed OEM project launches, with parts business capacity utilisation at 62%. Management secured new lifetime orders of Rs. 86 crores (including Rs. 11 crores from EV programmes), taking the total order book to Rs. 3,439 crores to be executed over 3-5 years. The Aftermarket business (Elpis) grew 27% YoY and the Commercial Toolroom order book rose 30% YoY. Margins were under pressure due to lower volumes, but the CFO guided a return to double-digit margins on both standalone and consolidated basis for the remaining nine months, reaffirming the Rs. 600 crore FY26 revenue guidance. The Battery division (Avinya) is being repositioned from mobility to energy storage and is expected to sign key contracts this month.
Short-term softness in Q1 results is largely explained by deferred OEM launches, but the strong order book and management's reaffirmation of FY26 guidance with margin recovery from Q2 should support investor confidence. Near-term stock movement may depend on the pace of delayed project ramp-ups and visibility on the battery storage turnaround.