Q2 revenue: โน291 cr; PAT margin: ~12%.
โขH1 earnings: +21% YoY.
โขMix: Domestic:International 70:30; Industrial ~15%, Aftermarket 12%.
โขPromoters own 51.2%; full split from NIBL done; โน55 cr one-off already booked.
โขMarket leader: Cylindrical bearings (>30% value share), Needle rollers (~60% India).
โขEV-agnostic; lifetime order pipeline โน750 cr (BMW, MB, Renault, Stellantis).
โขHeavy push into industrial import substitution + aerospace (โน50โ75 cr small acquisition).
โขCapex: โน500 cr over 5 years; first โน200 cr underway; new capacities live by Q1 FY28.
โขGlobal footprint (Thailand mfg + USA/Germany sales) will sit under DIFC holding.
โขInventory high by design; will reduce gradually, not to peer levels.
โขMargins among the best in auto-components; ROE target 17โ18%.
โขRisks: US tariffs, WC intensity, India CV softness (offset by global CV).
๐๐๐ ๐๐๐๐๐๐๐ Q2FY26 ๐๐๐ ๐๐๐๐
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