PPAP Automotive Ltd
PPAP Automotive Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Financial year '26 is expected to see revenue in the range of INR 575-600 crores with EBITDA of INR 60-65 crores. PPAP Automotive expects medium-term EBITDA margins of 12% to 14%, indicating improved profitability.
From PPAP Automotive Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Financial year '26 is expected to see revenue in the range of INR 575-600 crores with EBITDA of INR 60-65 crores.
- Order book stands at INR 4,171 crores, providing long-term revenue visibility with lifetime orders worth INR 621 crores secured recently.
- Capacity utilization targeted to improve from 65-68% in H1 to 75-80% in H2, driven by new project launches like Tata Sierra, Renault Duster, and Maruti Suzuki e Vitara.
- New models launching in H2 with volume ramp-ups expected to boost sales and improve utilization.
- Aftermarket business expected to grow to contribute ~10% of consolidated revenues in next 2 years.
- Commercial Tool Room business under Meraki targeting 20%+ growth yearly with robust order pipeline.
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Profitability & Margins
See what PPAP Automotive Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- The transcript does not explicitly mention any specific current or future capital expenditure (capex) or strategic investments planned by PPAP Automotive Limited.
- There is a mention of the commercial tooling business under Meraki Precision Tool Engineering Limited starting operations independently from Q4 onwards, indicating a strategic move toward better governance and financial discipline.
- The company is focusing on new program launches, enhanced execution, and gradual recovery in automotive sector demand, which may indirectly imply investments in capacity and capabilities.
- Expansion in Aftermarket business (Elpis brand) with plans to increase product offerings and distribution network.
- The battery division under Avinya Batteries is progressing with product development and trial orders with marquee customers, but delays in approvals have affected sales.
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Top-ranked in Auto Components
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what PPAP Automotive Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Lifetime order book as of Q2 FY'26: INR 4,171 crores, providing long-term revenue visibility.
- New order inflow in H1 FY'26: INR 707 crores, including INR 16 crores from EV programs.
- During the quarter, secured lifetime orders worth INR 621 crores.
- Commercial Tool Room division's order book stands at INR 30 crores for 138 molds.
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PPAP Automotive Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹175 Cr, net profit ₹45 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What PPAP Automotive Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q3 FY25 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q4 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Frequently Asked Questions
What were PPAP Automotive Ltd Q2 FY26 results?
Financial year '26 is expected to see revenue in the range of INR 575-600 crores with EBITDA of INR 60-65 crores. PPAP Automotive expects medium-term EBITDA margins of 12% to 14%, indicating improved profitability.
What is PPAP Automotive Ltd share price analysis?
PPAP Automotive Ltd currently shows a neutral. The stock trades at a P/E of 91.5 with a market cap of ₹372 Cr. Investors should review the full earnings analysis for detailed insights.
Is PPAP Automotive Ltd planning capital expenditure?
The transcript does not explicitly mention any specific current or future capital expenditure (capex) or strategic investments planned by PPAP Automotive Limited.
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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.