STUDDS ACCESSORIES Q2 FY27: TARGETS ₹1,000 CR REVENUE & 25–30% EXPORT SHARE; NEW 15 LAKH CAPACITY COMMISSIONED, PROFIT DOWN 29% YOY

• Medium-Term Revenue Target: Management aims to achieve ₹1,000 Cr revenue, with exports contributing 25–30% of total revenue • Quarterly Results: Revenue increased 18.6% YoY and 7.90% QoQ to ₹183.1 Cr, while EBITDA declined 23.7% YoY but increased 16.92% QoQ to ₹22.8 Cr • Profitability: PAT declined 28.5% YoY but increased 19.51% QoQ to ₹14.7 Cr • Margin Pressure: EBITDA margin declined to 12.4% from 19.3% YoY, but improved from approximately 11.5% QoQ due to better sequential operating performance • Capacity Expansion: New manufacturing facility commenced commercial production on October 30, 2026, adding 15 lakh units of annual helmet and box capacity • Total Manufacturing Capacity: Installed capacity increased to 1.15 crore helmets and boxes annually across four manufacturing units • European Expansion: Developing its wholly owned Italian subsidiary into a warehousing and distribution hub to strengthen its presence across Europe • International Growth Plans: Targeting deeper market penetration across the US, Europe and Latin America through wider distribution and product diversification • New Product Expansion: Commenced in-house manufacturing of riding jackets, expanding beyond its core helmet business • Upcoming Product Launch: Bluetooth-enabled rider communication systems scheduled for launch in November 2026 • Export Realisations: Export average selling price increased to approximately ₹2,000 in H1 FY27 from ₹1,600 in FY24 • Premium Product Growth: SMK brand ASP improved to approximately ₹2,900 from ₹2,350 in FY24, reflecting stronger premium product realisations • Raw Material Challenges: Higher crude oil and styrene-based input costs affected profitability, despite strong domestic and international demand • Margin Recovery Plans: Implementing calibrated price increases, cost optimisation and operating efficiencies; sustained margin recovery depends on raw material price stabilisation • H1 Performance: Revenue increased 16.2% YoY to ₹352.8 Cr, while EBITDA declined 29.6% to ₹42.3 Cr and PAT fell 33.8% to ₹27 Cr • Future Growth Plans: Focused on increasing exports, ramping up new capacity, premiumisation, developing riding accessories and expanding international distribution • FY27 Guidance & Capex: Management reiterated its medium-term ₹1,000 Cr revenue ambition but did not disclose specific FY27 growth, margin or fresh capex target

STUDDS ACCESSORIES LTD

← Back to feed