Frontier Springs Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹1,513 Cr
- P/E
- 25.82
- ROE
- 39.25%
- PEG
- 0.26
- Price to sales
- 4.65
- Debt to equity
- 0.06
- 52W high / low
- ₹4,824 / ₹1,162
- Sales growth (5Y)
- 33.15%
- EBITDA margin
- 26.17%
- Net profit margin
- 18.74%
- Promoter holding
- 51.76%
- Sales (last year)
- ₹325 Cr
Guidance scorecard · Q1 FY27 call
What Frontier Springs Ltd's management guided
RevenueQ2 FY26 call
20–40%- Frontier Springs targets crossing INR 1,000 crores revenue in the next 5 years, primarily driven by Indian Railways segment (60%-70% of revenue).
- For FY '26, gross revenue guidance is INR 375 crores; confident in achieving INR 500 crores gross revenue in FY '27.
- Orders already received for INR 60-80 crores in FY '27 with robust order book expected to be INR 200-250 crores by year-end FY '26.
- Growth backed by expansions in product lines including air springs with new FIBA system, forging division, and capacity utilization improvements (6-tonne hammer project).
- Continuous demand visibility from railway modernization program; capacity announcements carefully aligned with order flows.
2 more points from Frontier Springs Ltd's call on revenue
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MarginsQ2 FY26 call
Up 0–2%See what Frontier Springs Ltd said on margins — free account, 30 seconds.
CapexQ2 FY26 call
Planned- Frontier Springs plans a continuous CAPEX of around INR 15 crores annually across all three divisions (Coil Spring, Air Spring, Forging).
- In H1 FY26, INR 8 crores CAPEX was already incurred; another INR 7-8 crores expected in H2.
- CAPEX focuses on capacity expansion and removing bottlenecks in Coil Spring, Air Spring, and Forging divisions.
- Testing machines for new products (e.g., FIBA system) require investment of about INR 2 crores; already in progress.
- CAPEX is funded entirely from internal accruals without debt.
- Expansion plans include increasing capacity to meet growing railway demand and new product commercialization.
2 more points from Frontier Springs Ltd's call on capex
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FundraisingQ2 FY26 call
See what Frontier Springs Ltd said on fundraising — free account, 30 seconds.
Order bookQ2 FY26 call
Rising- Current order book by year-end is expected to be around INR 200 crores to INR 250 crores after closing the current fiscal year.
- For FY '25-'26, Frontier Springs has confirmed orders to achieve gross revenue of INR 375 crores with around INR 60 crores to INR 80 crores orders already received for the next year.
- The company is confident in continuing growth with a target of INR 500 crores gross revenue in FY '27, backed by a healthy pipeline of tenders and confirmed orders.
2 more points from Frontier Springs Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
This quarter's potential multibaggers
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Financials of Frontier Springs Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Frontier Springs Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 28 | 29 | 25 | 33 | 33 | 44 | 51 | 52 | 58 | 70 | 75 | 83 | 81 |
| Expenses + | 25 | 25 | 22 | 28 | 28 | 37 | 41 | 42 | 46 | 53 | 55 | 61 | 61 |
| Operating Profit | 3 | 4 | 3 | 5 | 5 | 7 | 10 | 11 | 12 | 17 | 20 | 22 | 20 |
| OPM % | 10% | 13% | 14% | 14% | 16% | 17% | 19% | 20% | 21% | 24% | 27% | 27% | 25% |
| Other Income + | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | 2 | 3 | 3 | 4 | 4 | 7 | 9 | 10 | 11 | 16 | 20 | 21 | 19 |
| Tax % | 25% | 24% | 28% | 26% | 25% | 25% | 26% | 25% | 24% | 26% | 26% | 26% | 25% |
| Net Profit + | 2 | 2 | 2 | 3 | 3 | 5 | 7 | 7 | 9 | 12 | 15 | 16 | 14 |
| EPS in Rs | 1.28 | 1.84 | 1.58 | 2.42 | 2.73 | 4.28 | 5.92 | 6.18 | 7.40 | 9.88 | 12.49 | 13.31 | 12.10 |
Financials of Frontier Springs Ltd
Profit & Loss
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 37 | 35 | 39 | 47 | 59 | 83 | 100 | 77 | 84 | 107 | 135 | 231 | 310 |
| Expenses + | 32 | 32 | 35 | 41 | 50 | 70 | 79 | 64 | 71 | 95 | 114 | 181 | 230 |
| Operating Profit | 4 | 3 | 4 | 6 | 8 | 13 | 20 | 13 | 12 | 13 | 21 | 50 | 80 |
| OPM % | 12% | 8% | 10% | 12% | 14% | 16% | 20% | 17% | 15% | 12% | 16% | 22% | 26% |
| Other Income + | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Interest | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 0 | 0 | 0 | 1 | 1 | 0 |
| Depreciation | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 3 | 3 | 3 | 4 | 4 | 4 |
| Profit before tax | 2 | 1 | 1 | 2 | 5 | 10 | 18 | 11 | 10 | 10 | 17 | 46 | 76 |
| Tax % | 25% | 29% | 49% | 8% | 35% | 18% | 20% | 26% | 25% | 26% | 26% | 25% | |
| Net Profit + | 2 | 0 | 1 | 2 | 4 | 8 | 14 | 8 | 8 | 7 | 13 | 35 | 56 |
| EPS in Rs | 1.43 | 0.35 | 0.43 | 1.81 | 3.02 | 7.12 | 11.88 | 6.61 | 6.36 | 6.14 | 11.01 | 29.37 | 47.78 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 5% | 3% | 0% | 5% | 5% | 5% | 2% |
Financials of Frontier Springs Ltd
Balance Sheet
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Reserves | 19 | 20 | 20 | 22 | 26 | 34 | 47 | 56 | 63 | 71 | 85 | 120 | 151 |
| Borrowings + | 11 | 10 | 13 | 14 | 12 | 9 | 9 | 4 | 3 | 5 | 4 | 6 | 7 |
| Other Liabilities + | 11 | 12 | 16 | 15 | 17 | 21 | 18 | 20 | 22 | 31 | 30 | 39 | 20 |
| Total Liabilities | 44 | 46 | 52 | 55 | 59 | 68 | 78 | 83 | 92 | 110 | 123 | 169 | 182 |
| Fixed Assets + | 16 | 16 | 23 | 27 | 29 | 30 | 33 | 34 | 37 | 42 | 45 | 56 | 63 |
| CWIP | 4 | 6 | 1 | 1 | 0 | 0 | 1 | 0 | 1 | 1 | 2 | 1 | 0 |
| Investments | 0 | 0 | 0 | 0 | 2 | 3 | 5 | 8 | 13 | 15 | 18 | 25 | 30 |
| Other Assets + | 24 | 24 | 29 | 28 | 29 | 35 | 39 | 41 | 42 | 52 | 59 | 87 | 89 |
| Total Assets | 44 | 46 | 52 | 55 | 59 | 68 | 78 | 83 | 92 | 110 | 123 | 169 | 182 |
Financials of Frontier Springs Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 1 | 5 | 1 | 6 | 7 | 9 | 10 | 11 | 10 | 10 | 12 | 22 |
| Cash from Investing Activity + | -5 | -3 | -3 | -6 | -4 | -4 | -8 | -5 | -10 | -10 | -10 | -20 |
| Cash from Financing Activity + | 4 | -2 | 2 | -0 | -3 | -5 | -1 | -6 | -1 | 1 | -2 | 1 |
| Net Cash Flow | 0 | 0 | 0 | 0 | -1 | 0 | 1 | 0 | -1 | 0 | 0 | 3 |
| Free Cash Flow | -4 | 2 | -2 | 0 | 3 | 6 | 3 | 9 | 4 | 1 | 4 | 8 |
| CFO/OP | 29% | 189% | 38% | 123% | 94% | 84% | 64% | 107% | 104% | 94% | 75% | 67% |
Financials of Frontier Springs Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 102 | 81 | 96 | 58 | 63 | 50 | 58 | 83 | 74 | 55 | 60 | 61 |
| Inventory Days | 223 | 265 | 281 | 265 | 206 | 186 | 147 | 214 | 215 | 211 | 169 | 126 |
| Days Payable | 146 | 190 | 220 | 199 | 179 | 165 | 117 | 175 | 150 | 170 | 118 | 94 |
| Cash Conversion Cycle | 180 | 156 | 156 | 124 | 90 | 71 | 87 | 121 | 139 | 97 | 111 | 92 |
| Working Capital Days | 59 | 51 | 49 | 23 | 30 | 32 | 53 | 76 | 75 | 60 | 69 | 64 |
| ROCE % | 11% | 5% | 8% | 11% | 17% | 26% | 35% | 18% | 15% | 13% | 21% | 42% |
Guidance history
How Frontier Springs Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY26 call → | 20–40% | Up 0–2% | Planned | — | Rising |
| Q4 FY25 call → | 40%+ | Up 0–2% | Planned | — | Rising |
| Q2 FY25 call → | 20–40% | Up 2%+ | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
24 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −8.9% | 52% |
| Last 6 months | −11.2% | 37% |
| Last 3 months | −2.6% | 62% |
The price is 23.7% below its all-time high of ₹1,794.7 (11 May 2026). Stocks more than 20% below their peak have their score halved, so 48 became 24.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Frontier Springs Ltd: 0.4 × 52 + 0.4 × 37 + 0.2 × 62 = 48, halved to 24 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 16 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.