Any current/future new fundraising through debt or equity?

Uniparts India Limited has been evaluating about a dozen acquisition targets, but no concrete deals have been finalized yet. The company follows a clear capital allocation framework, focusing on targets that add meaningful platforms, are manageable in size, and are ROE/ROCE accretive. No current or imminent fundraising through debt or equity has been announced. A special dividend was paid out in Q3 FY26 after deciding not to proceed with a potential acquisition opportunity. Management emphasizes disciplined capital allocation and will update investors when any concrete action occurs regarding

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

The company maintains a consistent capex plan of 2.5% to 3.5% of revenue for the foreseeable future. Capex investments focus on balancing capex to support new business growth without additional large-scale investments. Investments aim to enhance capabilities and improve operating costs, including recent insourcing at the U.S. factory. Despite recent challenges (e.g., fire incident), the company continues investing in capabilities across the group, including building warehousing or nearshoring models such as the investment in Mexico. The steady-state EBITDA of 20% supports ongoing reinvestment

Future growth expectations in sales/revenue/volumes?

Uniparts India Limited expects FY27 growth in line with FY26, driven mainly by volume growth as industry cycles turn. Growth is anticipated from new project wins, particularly in large agriculture (large ag) and precision machine parts (PMP) segments, which together account for about 70% of new business wins. OEM customers are showing recovery, especially in the small ag segment (~5% growth expected in North America) and stronger growth expected in Europe in the second half of FY27. The company continues to deepen customer partnerships and broaden presence across segments and geographies. New

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

FY27 growth is expected to be in line with FY26, driven by industry recovery, new business wins, and gradual market recovery. Operating leverage is positive; EBITDA grew over 55% in FY26, outperforming revenue growth of 21%. Sustainable EBITDA margin expected above 20%, with actual level dependent on revenue ramp-up and delivery channel mix. Trailing 12-month EPS post Q4 FY26 is INR 35.07, 80% higher than FY25 end, despite a INR 3.4 crore impact from new wage code. New business momentum (INR 225+ crore annualized wins) provides visibility into future growth. Strong balance sheet (net

Current/ Expected Orderbook/ Pending Orders?

As of March 31, FY26, Uniparts India Limited has INR 225 crores of new order wins, representing the annualized potential of new projects won in the trailing 12 months. The order wins number has held steady at around INR 200 crores+ for a few quarters, indicating consistent new business acquisition. The company has been winning roughly INR 200 crores of new business annually and converting older wins into actual revenue as the industry cycle improves. The exact total outstanding order book is not explicitly stated, but the steady INR 200-225 crores of new order wins reflects good visibili

Uniparts India LtdQ1 FY27

Uniparts India Ltd Q1 FY27 Earnings Call Analysis

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

Price: ₹816P/E: 19.8Market Cap: ₹3.6K Cr

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

→Uniparts India Limited expects FY27 growth in line with FY26, driven mainly by volume growth as industry cycles turn.
→Growth is anticipated from new project wins, particularly in large agriculture (large ag) and precision machine parts (PMP) segments, which together account for about 70% of new business wins.
→OEM customers are showing recovery, especially in the small ag segment (~5% growth expected in North America) and stronger growth expected in Europe in the second half of FY27.
→The company continues to deepen customer partnerships and broaden presence across segments and geographies.
→New products are under continuous development across segments in collaboration with customers.
→Capacity is managed via balancing capex within 2.5%-3.5% of revenue to ensure scalability.
→The order book remains robust, with roughly INR 200-225 crores in new business wins annually, indicating healthy revenue visibility.

Margin guidance

Category 3

→FY27 growth is expected to be in line with FY26, driven by industry recovery, new business wins, and gradual market recovery.
→Operating leverage is positive; EBITDA grew over 55% in FY26, outperforming revenue growth of 21%.
→Sustainable EBITDA margin expected above 20%, with actual level dependent on revenue ramp-up and delivery channel mix.
→Trailing 12-month EPS post Q4 FY26 is INR 35.07, 80% higher than FY25 end, despite a INR 3.4 crore impact from new wage code.
→New business momentum (INR 225+ crore annualized wins) provides visibility into future growth.
→Strong balance sheet (net cash INR 160 crores) supports sustainable EPS improvement as volumes grow.
→Management confident in maintaining profitability with disciplined cost control and capacity utilization balancing capex at 2.5%-3.5% of revenue.

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Fundraise plans

→Uniparts India Limited has been evaluating about a dozen acquisition targets, but no concrete deals have been finalized yet.
→The company follows a clear capital allocation framework, focusing on targets that add meaningful platforms, are manageable in size, and are ROE/ROCE accretive.
→No current or imminent fundraising through debt or equity has been announced.
→A special dividend was paid out in Q3 FY26 after deciding not to proceed with a potential acquisition opportunity.
→Management emphasizes disciplined capital allocation and will update investors when any concrete action occurs regarding fundraising or acquisitions.

Order book

Yes

→As of March 31, FY26, Uniparts India Limited has INR 225 crores of new order wins, representing the annualized potential of new projects won in the trailing 12 months.
→The order wins number has held steady at around INR 200 crores+ for a few quarters, indicating consistent new business acquisition.
→The company has been winning roughly INR 200 crores of new business annually and converting older wins into actual revenue as the industry cycle improves.
→The exact total outstanding order book is not explicitly stated, but the steady INR 200-225 crores of new order wins reflects good visibility for growth.
→Growth outlook for FY27 is expected to be in line with FY26, driven by these order wins and industry recovery.

Capex plans

Yes

→The company maintains a consistent capex plan of 2.5% to 3.5% of revenue for the foreseeable future.
→Capex investments focus on balancing capex to support new business growth without additional large-scale investments.
→Investments aim to enhance capabilities and improve operating costs, including recent insourcing at the U.S. factory.
→Despite recent challenges (e.g., fire incident), the company continues investing in capabilities across the group, including building warehousing or nearshoring models such as the investment in Mexico.
→The steady-state EBITDA of 20% supports ongoing reinvestment in the business, even during downturns.
→The company is actively evaluating acquisition targets that add meaningful platforms, are manageable in size, and are ROE and ROCE accretive; no concrete acquisition has been announced yet.
→Capital allocation remains disciplined, with recent special dividend payout reflecting careful evaluation of investment opportunities.

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