Designs and manufactures transfer cases and drivetrain components, supplying them directly to passenger vehicle and pickup truck OEMs in India and abroad. The transfer case business makes up the largest share of FY26 revenue at Rs 183 crore (49%), with an installed capacity of 9,000 units per month and order wins covering 70,000 pickup units for Indonesia from Mahindra (Scorpio) and Tata (Yodha), plus an engagement with a Japanese OEM for an iconic pickup platform targeting H1 FY28 SOP. The components business, contributing Rs 112 crore (30%) of FY26 revenue, supplies ITM Assemblies, ECUs and PTU Assemblies for AWD SUV variants to a leading Indian OEM (~6,000 units/year from Q1 FY28) and is developing a 120kW/220Nm EV transmission with SOP targeted for April 2026 across four customer models. Exports, predominantly drivetrain components, accounted for Rs 66.9 crore (18%) of FY26 revenue, up 7.9x year-on-year, with a quarterly run rate of around INR19 crores, and a US subsidiary has been incorporated to support a potential local manufacturing footprint. Materials at 41.1% of revenue are the largest cost, followed by other operating expenses (29.6%) and employee costs (11.8%), with depreciation at 8.3% and capex at 12.6% reflecting the asset-heavy nature of precision component manufacturing. The operating base is the Shirwal plant near Pune, and the company has set a long-term aspiration of 12-15% CAGR over five years from the FY20 base, with a stated revenue potential of INR1,000 crore conditional on large order wins across its four verticals. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Transfer Cases (49%), Components (30%), Exports (18%). Asset-heavy, precision auto-component manufacturer exposed to OEM order cycles
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 271 | 253 | 219 | 353 |
| EBITDA (ex other income) | 74 | 53 | 37 | 70 |
| margin % | 27.5 | 20.9 | 17.1 | 19.8 |
| Owners' profit | 51 | 40 | 24 | 47 |
| EPS, as reported (₹) | 18.45 | 3.01 | 7.97 | 15.34 |
| ROE % · ROCE % | 9.3 · 12.4 | 6.8 · 9.2 | 4.1 · 5.5 | 7.4 · 9.8 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 41 | 32 | 35 | 41 |
| Capex | (68) | (78) | (27) | (44) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 54 | 53 | 58 | 72 | 83 | 91 | 108 | 137 |
| Profit before tax | 11 | 7 | 7 | 12 | 15 | 16 | 20 | 34 |
| Net profit | 8 | 5 | 5 | 9 | 11 | 12 | 15 | 25 |
| EPS (₹) | 2.56 | 1.71 | 1.75 | 2.92 | 3.51 | 3.85 | 5.06 | 8.25 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,73,567 | 39.6 | 3.98 | 15.4 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,42,736 | 60.4 | 9.61 | 35.1 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 92,992 | 131.7 | 9.73 | 33.3 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 69,386 | 57.6 | 9.56 | 31.7 | 17.7 | 15.7 | 25.3 | 10.4 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Analyst/Investor Meet scheduled for Sep 9 cancelled due to exigencies | board shareholder meetings | low | — | — |
| 9 Sept 2026 · Investor/Analyst meeting scheduled for September 8 cancelled | investor communications | low | — | — |
| 9 Sept 2026 · Company Secretary Aniket Kokane resigns, effective September 19, 2026 | management changes | medium | — | — |
| 9 Sept 2026 · Company Secretary resigns, new Compliance Officer and Internal Auditor appointed | management changes | medium | — | — |
| 9 Sept 2026 · CS resigns, internal pick as Compliance Officer, new auditor appointed | management changes | medium | — | — |
| 9 Sept 2026 · Company Secretary resigns, new Compliance Officer and Internal Auditor appointed | management changes | high | — | — |
| 9 Sept 2026 · Company Secretary resigns; new Compliance Officer and Internal Auditors appointed | management changes | medium | — | — |
| 9 Sept 2026 · Divgi TorqTransfer clarifies clean audit opinion for Q4 FY26 results | regulatory legal | medium | — | — |
| 3 Sept 2026 · Intimation of investor meet on September 9, 2026 | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Intimation of analyst/investor meet on September 8, 2026 | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|
| SCHAEFFLER INDIA LIMITED |
| 61,739 |
| 49.3 |
| 10.04 |
| — |
| 10.4 |
| 14.1 |
| — |
| 19.4 |
| TUBE INVEST OF INDIA LTD | 50,454 | 83.1 | 3.55 | 19.5 | 7.9 | 12.4 | 30.3 | 10.6 |
| SONA BLW PRECISION FRGS L | 49,016 | 70.4 | 7.99 | 42.6 | 10.3 | 12.9 | — | 25.1 |
| ENDURANCE TECHNO. LTD. | 37,964 | 39.1 | 5.55 | 18.6 | 13.9 | 15.6 | 17.4 | 13.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 58.0 | 26.7 | 103 of 123 | 16% |
| P/B | 5.8 | 3.5 | 86 of 116 | 26% |
| ROCE | 9.8 | 12.6 | 79 of 125 | 37% |
| ROE | 7.4 | 11.6 | 84 of 119 | 30% |
| Debt / Equity | 0.0 | 0.3 | 22 of 119 | 82% |
| EBITDA margin | 30.4 | 12.2 | 4 of 118 | 97% |
| Revenue growth | 91.3 | 20.2 | 2 of 113 | 99% |
| Profit growth | 182.7 | 24.4 | 14 of 115 | 89% |
| Market cap | 3670 | 1542 | 46 of 125 | 64% |
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
