Rico Auto Industries Limited has informed the Exchange about Transcript
RICOAUTO · price
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Rico Auto's Q3 FY26 consolidated revenue grew 14.1% YoY to INR632 crores, with EBITDA up 33.2% and margins improving to 10%. Standalone revenue grew 25.5% YoY, and 9-month consolidated revenue stood at INR1,806 crores (+7.7%) with net profit more than tripling. Management guided for FY26 full-year revenue of around INR2,500 crores and reiterated a clear path to 13% EBITDA margins, though acknowledged the near-term timeline remains uncertain. The railway business, originally targeted at INR60-70 crores for FY26, has slipped and is now expected to contribute INR60-65 crores in FY27 after RDSO approvals for direct supplies. Management expects double-digit (10-15%) revenue growth next year driven by new export programs and OEM localization, while US tariff reductions are being passed back to customers rather than boosting margins. EV+Hybrid share currently stands at 7% of turnover, and the defense electronic fuse opportunity remains stalled after a major tender was withdrawn.
Positive operational momentum with strong top-line and EBITDA growth in Q3, but the pushback of the 13% margin target and delayed railway revenue temper near-term excitement. Shareholders should watch for next quarter's budget-driven guidance and clarity on US trade deal benefits, as these will be key catalysts for the stock.