Emmforce Auto.

- The last capex related to capacity expansion has been largely completed. - There is approximately INR 21 crores plus capital work-in-process (CWIP) shown on the balance sheet, which is expected to be capitalized in the second half of the financial year once new business enters commercial production. - Future capex for new projects requiring special equipment may be needed, but current equipment suffices for planned sales growth. - The subsidiary incurred capex of about INR 50 crores, focused on forging, rotavator blades, and agri-equipment businesses. - The subsidiary's forging plant is expected to run on two shifts by the end of the current half and three shifts next year. - No aggressive new capex plans disclosed beyond these; focus is on operationalizing existing investments and reaching production targets.

- FY 2025 expected top-line: INR 125-135 crores. - FY 2026 projected revenue: INR 175 crores (conservative estimate; range could be INR 175-200 crores). - FY 2027 target revenue: INR 225-250 crores. - Long-term growth outlook: Approximately INR 650 crores potential revenue over 3-5 years. - Total capacity aiming for INR 350 crores utilization by FY 2027 combining drivetrain and agri-business segments. - New INR 470 crores order expected to contribute INR 20 crores revenue in current year, increasing to INR 55 crores annually by next year. - Business growth driven by ramp-up in subsidiary operations including forging and agri-equipment lines. - Margin improvements expected as capacity utilization increases, especially with internal forging capacity and operational efficiencies. - Agribusiness margins expected to improve significantly with value-added products beyond rotavators over time.

- FY 2026 revenue expected between INR 125-135 crores. - FY 2027 revenue guidance around INR 175 crores, possibly up to INR 180-200 crores. - FY 2028 projected revenue between INR 225-250 crores; longer-term outlook up to INR 650 crores in 3-5 years. - EBITDA margin target steady at approximately 20-21%, with improvement expected on a consolidated basis due to subsidiary contributions. - Capex largely completed; minor future capex only for new projects. - Forging plant ramp-up to two shifts by FY 2026-end expected to add 0.5%-1% margin improvement. - Deferred tax liabilities currently increase tax rate (~39%) but provide hidden future tax savings, leading to improved future profit profiles. - Subsidiary operations expected to improve profitability as they scale. - EPS expected to grow with business scale and margin improvements, but no precise EPS figures provided.

- Emmforce Autotech Limited has a significant orderbook of approximately INR 470 crores associated with a new project. - In the current year, the company expects to generate about INR 20 crores in revenue from this order. - From next year onwards, an annual run rate of around INR 55 crores is anticipated from this order, with potential upside. - The company is in the final stages of discussions and technical approvals, with commercial production ready to start anytime within weeks. - Senior teams from the customer side have been actively involved, reflecting strong engagement towards ramping up production. - The company is also poised to fully utilize capacities amounting to about INR 350 crores (INR 200 crores from drivetrain parts and INR 150 crores from agri business) by FY 2027.

- No explicit mention of any current or planned fundraising through debt or equity in the transcript. - The company states that all major capex required for capacity expansion has already been done. - Minor capex may be needed for new projects, but nothing significant that would require large-scale fundraising. - Existing investments include INR ~50 crores in subsidiary (capital work in progress and long-term loans). - Company emphasizes being operationally focused and cautiously conservative on financial planning. - No indication from management about seeking new funding rounds via equity or debt at this stage. - Focus remains on utilizing existing capacities and improving operational efficiency to drive growth.