PPAP Automotive

- No explicit mention of any new fundraising through debt or equity in the current transcript. - The company has received INR 100 crores from the sale of its JV stake, which will be used to reduce net debt and fund strategic capital expenditure. - The INR 100 crores proceeds are expected to reduce interest cost by approximately 30%. - Existing long-term loans will be repaid over the next 2-3 years as per schedule, with no early repayments planned. - Capital expenditure plans up to INR 55 crores for the current fiscal year are underway, with decisions on further capex to be finalized in March. - The company is focusing on disciplined capital allocation and prudent financial management. - No announcement or hint of fresh equity issuance or new debt raising beyond existing schedules and utilization of JV sale proceeds.

- The company plans significant capex including INR30 crores for setting up EPDM rubber business at the Chennai facility, with building nearly ready and machinery installation expected by April 2026. - Total capex planned for FY26 is INR55 crores, with INR37 crores already spent in the first 9 months; the remaining to be covered in the last quarter. - Proceeds of INR100 crores from JV exit will be used judiciously for debt reduction and strategic capital expenditure. - Capex plans for FY27 will be announced post the March Board meeting, implying ongoing investment evaluation. - Focus on expanding capacity and new product lines, including investments in lithium-ion battery pack business and aftermarket business expansion. - Chennai plant expansion targeting better technological and competitive local solutions is expected by April 2026.

- Q4 FY'26 shows encouraging performance with volumes gradually ramping up, aligning with expected forecasts. - For FY'27, detailed revenue and margin guidance will be provided after the March Board meeting. - Aftermarket business is expected to grow ~30% next year, targeting around INR5 crores monthly recurring revenue. - Expansion into 2-wheelers via Suzuki Motorcycle and commercial vehicles on the EV side is underway to diversify and de-risk. - Aftermarket aims to contribute 10% of total revenue over time (currently 5%). - Lithium-ion battery business is approaching a turnaround with growing confirmed orders, expected to reduce operating losses and scale sales further. - Capex of INR55 crores planned for FY'26; additional capex plans for FY'27 to be declared in March. - Focus on deepening mobility sector presence, expanding product portfolio, and entering new industry applications for sustained value creation.

- The company expects Q4 performance to be encouraging and in line with expectations, with gradual ramp-up in volumes. - Financial year 2026 revenue is projected at approximately INR 575 crores with an estimated EBITDA of INR 58 crores. - PAT for FY 2026 is expected to be around INR 8 crores, excluding extraordinary gains from JV stake sale. - Aftermarket business is growing strongly, targeting 10% revenue contribution with ~30% growth expected next year. - Lithium-ion battery pack business is approaching a turnaround with record sales expected in current quarter and significant loss reduction. - Capacity utilization and sales for newer models are improving from January 2026, aiding better operating leverage. - Company targets 30% reduction in interest cost due to improved capital structure post JV stake sale. - Guidance for FY 2027 revenue and margin will be provided post March board meeting. - Overall, PPAP is confident of sustained value creation and improved profitability going forward.

- The current order book stands at INR 752 crores. - Breakdown: INR 38 crores from EVs and INR 714 crores from non-EVs. - Approximately 95% of the order book is from passenger vehicles, with about 5% from 2-wheelers and other segments. - Key customers include Maruti, Tata, Honda, MG, Hyundai, and Suzuki Motorcycle (2-wheelers). - Development of parts for 2-wheelers through Suzuki Motorcycle is underway, with plans for mass production within the year. - The company is expanding focus beyond passenger vehicles to cover mobility sectors like tractors and commercial vehicles, primarily on the EV side. - Order execution timeline and further guidance to be detailed during the Board meeting in March.