EMMFORCE AUTOTECH LIMITED

Manufactures precision-engineered drivetrain components — 4WD hubs, driveshafts, axle assemblies, cardan shafts and hydraulic gear pumps — for automotive and performance-racing vehicle customers, and is extending into agricultural components such as rotavator blades. Production runs from an integrated facility in Baddi, Himachal Pradesh spread over ~150,000 sq ft with 600+ personnel, supplemented by a wholly-owned forging subsidiary (EMSPL) that operates a 1,600-tonne press and an automated rotavator blade line. FY26 consolidated revenue was INR113 cr, up 27% YoY, with EBITDA of INR23 cr (~20% margin) and PAT of ~INR8 cr. The auto business is the larger contributor; FY27 revenue is guided at INR165 cr from auto and INR30 cr from agri. The product mix is heavily export-oriented — sales reach 20+ countries and the US business grew 39-40% YoY in H1 FY26. Customer concentration is high: the top customer accounts for 47% of revenue and the top-10 for 93%. An INR470 cr US export order entered full commercial production on 15 December 2025 and is expected to contribute ~INR60 cr annually for 8 years; the total multi-year order book exceeds INR500 cr. Installed capacity is ~INR350 cr (auto INR200 cr + agri INR150 cr), but utilisation is only 50-55% in auto and 8-10% in agri. Materials account for 59% of revenue, employees 14% and other operating expenses 14.4%.