Any current/future new fundraising through debt or equity?

The company plans to fund its capex primarily through internal accruals and cash generation rather than borrowing. Navin Juneja mentioned a focus on reducing debt and improving the debt-equity ratio. There is no indication of any new debt fundraising; the preference is to avoid borrowing for capex. No mention of any equity fundraising or new share issuance plans. The projected capex over the next four years is over INR 200 crores, which will be internally funded. The growth targets and capex plans are expected to be achieved with existing resources and cash flows.

Any current/future capex/capital investment/strategic investment?

Current year capex plans include: - INR 15-18 crores in gasket and heat shield division - Around INR 20 crores in forging division - INR 30 crores in Magneti Marelli JV - INR 5 crores in Marugo Rubber JV Additional investments: - Already invested around INR 5-6 crores in added capacity this quarter - Another INR 5-6 crores planned for this quarter Capacity expansion: - Capacity expected to increase to INR 1,500 crores plus by December from current capacity supporting INR 1,300 crores - Ongoing machine additions on a quarterly basis to meet business requirements Longer-term p

Future growth expectations in sales/revenue/volumes?

Talbros aims to achieve consolidated sales of around INR 2,200 crores by FY 2027, nearly tripling from current levels. Top-line growth expected at 20%+ for FY 2024 and 15%-20% growth in FY 2025. Capacity expansions targeted to support growth: current capacity supports ~INR 1,300 crores, expected to increase to 1,500+ crores by December 2023. Capex of INR 200+ crores planned over 4 years across divisions to add capacity. Forecasted doubling of heat shield business to around INR 100 crores by 2026-27. Growth driven by increasing market share domestically and expanding exports (currently 25-27% e

Future growth expectations in earnings/operating earnings/profits/EPS?

The company targets a consolidated revenue of INR 2,200 crores by FY 2027, up from about INR 1,000 crores last year. EBITDA margin is expected to improve from around 15% in FY 2024 to approximately 14%-15% across all divisions by FY 2026-27. Return on Capital Employed (ROCE) is targeted at around 20% over the next four years, with expectations to reach 40%+ by FY 2027. Return on Equity (ROE) is aimed to exceed 25% by FY 2027. Profit After Tax (PAT) for Q1 FY 2024 grew 46% YoY; margins strengthened to 9.4%. Earnings growth is driven by capacity expansion (capacity to support INR 1,500

Current/ Expected Orderbook/ Pending Orders?

As of the recent update, Talbros Automotive Components Limited has an order book of about INR 1,000 crores from last year, which is being converted into commercial sales progressively. Specifically, for the heat shield business, the current order book is around INR 50 crores, with some orders already in commercial production and others expected in Q3 and Q4. The company expects the heat shield business to double by 2026-27, targeting around INR 100 crores turnover. The overall order book is described as quite healthy with good inquiries and engagement from customers. July was reported as a

Talbros Auto.Q1 FY24Auto Components

Talbros Auto. Q1 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹420P/E: 25.2Market Cap: ₹2.8K CrSector: Auto Components

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

N/A

Order

Yes

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

Talbros aims to achieve consolidated sales of around INR 2,200 crores by FY 2027, nearly tripling from current levels.
Top-line growth expected at 20%+ for FY 2024 and 15%-20% growth in FY 2025.
Capacity expansions targeted to support growth: current capacity supports ~INR 1,300 crores, expected to increase to 1,500+ crores by December 2023.
Capex of INR 200+ crores planned over 4 years across divisions to add capacity.
Forecasted doubling of heat shield business to around INR 100 crores by 2026-27.
Growth driven by increasing market share domestically and expanding exports (currently 25-27% exports, targeting 35% by FY 27).
All divisions expected to grow: Forgings targeted to reach INR 500+ crores, Magneti Marelli to INR 700+ crores, Marugo Rubber to INR 200+ crores, and Gasket & Heat Shield to INR 700 crores in 4 years.
Growth primarily organic with new products within existing companies; no inorganic growth currently planned.

Margin guidance

Category 3

The company targets a consolidated revenue of INR 2,200 crores by FY 2027, up from about INR 1,000 crores last year.
EBITDA margin is expected to improve from around 15% in FY 2024 to approximately 14%-15% across all divisions by FY 2026-27.
Return on Capital Employed (ROCE) is targeted at around 20% over the next four years, with expectations to reach 40%+ by FY 2027.
Return on Equity (ROE) is aimed to exceed 25% by FY 2027.
Profit After Tax (PAT) for Q1 FY 2024 grew 46% YoY; margins strengthened to 9.4%.
Earnings growth is driven by capacity expansion (capacity to support INR 1,500 crores by December 2023), market share gains, new products, and strong order book with INR 1,400 crores of orders secured recently.
Growth is primarily organic, with no inorganic expansions factored into near-term guidance.
Export contribution expected to rise from 25-27% currently to about 35% by FY 2027.

See what Talbros Auto. management said on margin guidance — free account, 30 seconds.

Fundraise plans

The company plans to fund its capex primarily through internal accruals and cash generation rather than borrowing.
Navin Juneja mentioned a focus on reducing debt and improving the debt-equity ratio.
There is no indication of any new debt fundraising; the preference is to avoid borrowing for capex.
No mention of any equity fundraising or new share issuance plans.
The projected capex over the next four years is over INR 200 crores, which will be internally funded.
The growth targets and capex plans are expected to be achieved with existing resources and cash flows.

Order book

Yes

As of the recent update, Talbros Automotive Components Limited has an order book of about INR 1,000 crores from last year, which is being converted into commercial sales progressively.
Specifically, for the heat shield business, the current order book is around INR 50 crores, with some orders already in commercial production and others expected in Q3 and Q4.
The company expects the heat shield business to double by 2026-27, targeting around INR 100 crores turnover.
The overall order book is described as quite healthy with good inquiries and engagement from customers.
July was reported as a good month, indicating a positive trend in new orders.
Approximately 21% of the orders come from a leading export OEM for electric vehicles, highlighting exposure to the EV segment.

See what Talbros Auto. management said on order book — free account, 30 seconds.

Capex plans

Yes

Current year capex plans include:
- INR 15-18 crores in gasket and heat shield division
- Around INR 20 crores in forging division
- INR 30 crores in Magneti Marelli JV
- INR 5 crores in Marugo Rubber JV
Additional investments:
- Already invested around INR 5-6 crores in added capacity this quarter
- Another INR 5-6 crores planned for this quarter
Capacity expansion:
- Capacity expected to increase to INR 1,500 crores plus by December from current capacity supporting INR 1,300 crores
- Ongoing machine additions on a quarterly basis to meet business requirements
Longer-term plans:
- Total capex of over INR 200 crores planned across divisions over next four years
- Expansion of Pune heat shield facility by year-end to handle growing orders and exports
Funding strategy emphasizes using internal accruals to reduce debt without borrowing for capex.

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