NDR AUTO COMPONENTS LTD

Manufactures seating systems and related auto components — seat frames, seat covers, complete seats, and a growing set of non-seating parts such as ambient lighting, shades, seat latches, and seat belt reminder systems — for passenger vehicle makers. Revenue in FY26 was ₹825.45 crore, up 15% year-on-year, with the highest-ever quarterly EBITDA margin of 11.90% recorded in Q4 FY26 and full-year EBITDA margin of 11.34%. The customer base is anchored by Maruti Suzuki, which accounts for the entire ₹650 crore order book (the highest in the company's history as of 31 March 2026) earned on incremental new models. A newly inaugurated plant in Penukonda, Andhra Pradesh — built with about ₹27.29 crore of investment — supplies KIA Motors via Hyundai Transys, with planned annual capacity of 50,000 five-seater frame sets and 28,000 seven-seater seat cover sets. Expansion into non-seating categories is backed by approved capex of ₹150 crore for new product lines, plus an additional ₹40-50 crore for executing the new order book, with production on seat belt reminder, seat latch, and seat insert lines starting January 2027. Management expects 40-50% growth in seat content per vehicle over five years from premiumisation trends such as artificial leather, power seats, and ventilated seats, and a Hayashi joint venture handles shade and ambient lighting work. The biggest cost is raw materials at 74.8% of revenue, followed by other operating expenses at 11.0% and employee cost at 3.5%.