Transcript for the Earning Conference Call for Analysts/Investors held on May 25, 2026 in connection with the Audited Standalone and Consolidated Financial Results for the quarter and year ....
STUDDS · price
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Studds Accessories reported FY26 revenue of INR 634.2 crores (up 8.6% YoY) with EBITDA of INR 122.2 crores (up 16.4%) and PAT of INR 82.7 crores (up 18.7%). Q4 revenue was INR 167.5 crores with EBITDA margin at 18.7%. The premium SMK brand grew volumes at 52% CAGR while exports now constitute 20% of revenue (up from 16.75%). Management announced a price hike of 8-9% from April 1, 2026 to offset raw material cost increases, with raw material prices having already started softening. Capacity will expand to 12 million units by Q2 FY27 (Phase 1) and a further 1.5 million units in subsequent 15-18 months. A new subsidiary in Italy will serve as a warehousing hub, operational by mid-Q2. The company plans to enter MotoGP by calendar year 2028. FY27 guidance: 17-18% revenue growth with EBITDA margins broadly similar to FY26 levels. Bharat Goyal appointed as CFO from July 1, 2026.
Studds is undergoing a structural transformation with premiumization driving margin expansion; EBITDA margin of 19.3% reflects favorable product mix shift toward SMK and exports. The 17-18% revenue growth guidance for FY27 with stable margins indicates operating leverage will kick in as revenue crosses INR 750 crores.