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JTEKT India Ltd

Q2 FY26Auto Components

JTEKT India Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management said on revenue, margins and capex.

Price₹126
Market cap₹3.7K Cr
P/E47.6
Updated23 Aug 2026
Read5 min read

The short version

Sales growth in the first half of FY 25-26 was 5.6%, outperforming the passenger vehicle market growth of 1.6%. JTEKT India anticipates an improved margin recovery and growth in profits over the next 2-3 years, reversing the declining gross margins trend seen since FY '17-'18.

From JTEKT India Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Sales growth in the first half of FY 25-26 was 5.6%, outperforming the passenger vehicle market growth of 1.6%.
  • New business from Maruti Suzuki models (e-Vitara, Victoris) contributed significantly to growth.
  • Exports to group entities like JTEKT Brazil are expected to start mid-2026, with potential to reach INR 150 crores, improving margins.
  • New product launches (e.g., a new variant from Maruti Suzuki anticipated around August 2026) will support sales growth.
  • Supply for EV vehicles like Tata's Punch EV and potential new models from Honda (linked to Elevate) will add to volumes.
  • Export contribution is expected to increase from current low levels (2-4%) to between 8-10%, aiding topline growth.

2 more points from JTEKT India Ltd's call on revenue

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Profitability & Margins

See what JTEKT India Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Ongoing CAPEX mainly towards capacity expansion in manual gear, electric power steering (CPS), and CVJ.
  • Sixth manual gear line at Dharuhera operational from August 2025, increasing capacity from 28 lakh to 32 lakh units.
  • Third CPS line operational from July-August 2025, increasing capacity from 10 lakh to 15 lakh units.
  • Working on fourth manual gear line at Chennai (primarily for Brazil export order).
  • Second CVJ line at Dharuhera under implementation, expected operational in 1-2 months, doubling capacity from ~3.7-4 lakh to ~7.5-8 lakh units.
  • New manufacturing facility being set up in Gujarat; factory design completed, construction to start December 2025, expected completion early 2028. Committed INR 250 crores so far.

2 more points from JTEKT India Ltd's call on capex

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Top-ranked in Auto Components

Ranked on what management guided this quarter

Guidance-ranked
1Divgi Torq
Rev 1Mar 3
2OBSC Perfection
Rev 1Mar 3
3
Rev 1Mar 3
4
Rev 2Mar 1
5
Rev 2Mar 1
Sign up free to see 3 moreTakes 30 seconds · no cardSign up

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

  • JTEKT India has secured a significant order from JTEKT Brazil for steering manual gears, with an initial supply of around 1 lakh units and potential growth up to 5 lakh units as new models on the same platform are introduced.
  • The Brazil export business is expected to start from June/July 2026, with huge growth potential and better profitability compared to the domestic market.
  • The company is actively engaged in front-loading activities with customers like Maruti Suzuki, leading to awards of new business including complete product sets for models like e-Vitara and Victoris.
  • There is ongoing work on expanding exports to the U.S. market, which currently contributes about 4% of total sales.

2 more points from JTEKT India Ltd's call on order book

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JTEKT India Ltd — Quarterly revenue & net profit

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹780 Cr, net profit ₹27 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What JTEKT India Ltd's management said in earlier quarters

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Frequently Asked Questions

What were JTEKT India Ltd Q2 FY26 results?

Sales growth in the first half of FY 25-26 was 5.6%, outperforming the passenger vehicle market growth of 1.6%. JTEKT India anticipates an improved margin recovery and growth in profits over the next 2-3 years, reversing the declining gross margins trend seen since FY '17-'18.

What is JTEKT India Ltd share price analysis?

JTEKT India Ltd currently shows a neutral. The stock trades at a P/E of 47.6 with a market cap of ₹3,654 Cr. Investors should review the full earnings analysis for detailed insights.

Is JTEKT India Ltd planning capital expenditure?

Ongoing CAPEX mainly towards capacity expansion in manual gear, electric power steering (CPS), and CVJ. - Sixth manual gear line at Dharuhera operational from August 2025, increasing capacity from 28 lakh to 32 lakh units. - Third CPS line operational from July-August 2025, increasing capacity from 10 lakh to 15 lakh units. - Working on fourth manual gear line at Chennai (primarily for Brazil export order). - Second CVJ line at Dharuhera under implementation, expected operational in 1-2 months, doubling capacity from ~3.7-4 lakh to ~7.5-8 lakh units. - New manufacturing facility being set up in Gujarat; factory design completed, construction to start December 2025, expected completion early 2028.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.