Talbros Automotive Components Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Talbros Automotive Components Ltd filed with BSE on 14 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Talbros Automotive Components reported its highest ever quarterly revenue of INR242 crores in Q1 FY27, up 15% year-on-year, with EBITDA of INR43 crores at a 17.6% margin and PAT of INR30 crores, growing 35% year-on-year. Management attributed margin pressure during the quarter to elevated steel and aluminium prices and labour cost inflation, while highlighting growth in the gasket and heat shield division and recovery in the forging division. The company also described a new data centre revenue vertical and updates on orders from Stellantis, Kia, Cummins and other OEMs.
Numbers mentioned
Total income: INR242 crores (Q1 FY27)
p. 4
“During Q1, our total income stood at INR242 crores, registering a growth of 15% year-on-year.”
Anuj Talwar, page 4 of the filed PDF · View the filing
EBITDA: INR43 crores at 17.6% margin (Q1 FY27)
p. 4
“EBITDA at INR43 crores at a margin of 17.6%.”
Anuj Talwar, page 4 of the filed PDF · View the filing
PAT: INR30 crores, up 35% YoY (Q1 FY27)
p. 5
“PAT for the quarter stood at INR30 crores, growing 35% year-on-year basis.”
Navin Juneja, page 5 of the filed PDF · View the filing
Gasket division revenue: INR164 crores (Q1 FY27)
p. 4
“The division reported revenue of INR164 crores of the INR242 crores I mentioned to you, growing by 21% year-on-year.”
Anuj Talwar, page 4 of the filed PDF · View the filing
Gasket division EBITDA: INR29 crores, up 32% YoY (Q1 FY27)
p. 4
“And EBITDA increased to INR29 crores with a growth of 32%.”
Anuj Talwar, page 4 of the filed PDF · View the filing
Forging division revenue: INR78.4 crores (Q1 FY27)
p. 4
“Our Forging division continued its recovery this quarter with revenues being at about INR78.4 crores.”
Anuj Talwar, page 4 of the filed PDF · View the filing
Marelli Chassis Systems revenue: INR105 crore, up 43% YoY (Q1 FY27)
p. 6
“rarely for the quarter stood at INR105 crore, registering a growth of 43% on Y-o0-Y basis.”
Navin Juneja, page 6 of the filed PDF · View the filing
Marelli Chassis Systems EBITDA: INR17 crores (Q1 FY27)
p. 6
“EBITDA stood at INR17 cores.”
Navin Juneja, page 6 of the filed PDF · View the filing
Talbros Marugo revenue: INR40 crores, up 31% YoY (Q1 FY27)
p. 6
“Revenue for the quarter stood at INR40 crores registering a growth of 31% on Y-0-Y basis.”
Navin Juneja, page 6 of the filed PDF · View the filing
Talbros Marugo EBITDA: INR6 crores, up 57% YoY (Q1 FY27)
p. 6
“EBITDA stood at INR6 crores, a growth of 57% on Y-0-Y basis.”
Navin Juneja, page 6 of the filed PDF · View the filing
Cummins sales: INR25 crores (Q1 FY27)
p. 7
“But if you see the progress of quarter, in this quarter Cummins alone, we sold INR25 crores.”
Navin Juneja, page 7 of the filed PDF · View the filing
EV sales across all divisions: INR12.5 crores (Q1 FY27)
p. 10
“Just for your information in this quarter alone, EV supply to my total EV sales is all divisions around INR12.5 crores.”
Navin Juneja, page 10 of the filed PDF · View the filing
EV sales as % of total: 3.27% (Q1 FY27)
p. 10
“It's now 3.27%, last year it was 2.9%, last quarter it was 2.56% for 2 years, exactly.”
Navin Juneja, page 10 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Group revenue growth — 18% to 20% · FY27
stated firmly by Anuj Talwar
p. 5
“For FY27, we continue to continue to have a target group revenue target of about 18% to 20%, with margins being in the range of about 17-odd percent, a little bit maybe 17.5% because we're still working out the whole impact of the inflationary pressures.”
Anuj Talwar, page 5 of the filed PDF · View the filing
Exports as % of revenue — 35% · FY28
stated as an aspiration by Anuj Talwar
p. 5
“We are targeting to take our exports to 35% by FY28.”
Anuj Talwar, page 5 of the filed PDF · View the filing
Capex for the year — INR103 crores · FY27
stated firmly by Anuj Talwar
p. 5
“Our planned capex is about INR103 crores for the year across gaskets, forgings, heat shields and to try and meet the demands of the OEM.”
Anuj Talwar, page 5 of the filed PDF · View the filing
Data centre segment revenue potential — INR30 crores to INR40 crores annually
stated as an aspiration by Anuj Talwar
p. 5
“We estimate the current revenue potential from this segment, so a little bit nominal can be about INR30 crores to INR40 crores annually.”
Anuj Talwar, page 5 of the filed PDF · View the filing
Gasket division revenue — INR900 crores · FY30
stated as an aspiration by Richita
p. 12
“Okay, by FY '30 like for gasket division, we've spoken about INR90O crores of revenue?”
Richita, page 12 of the filed PDF · View the filing
Forging division revenue — INR600 crores · FY30
stated as an aspiration by Richita
p. 12
“INR850 crore, forging INR600 crores revenue by FY '30.”
Richita, page 12 of the filed PDF · View the filing
EV mix guidance — 5% minimum · 3 to 5 year period
stated as an aspiration by Navin Juneja
p. 10
“Around 5% minimum.”
Navin Juneja, page 10 of the filed PDF · View the filing
Marelli segment growth — 30% to 40% · FY27
stated as an aspiration by Navin Juneja
p. 12
“First of all, it should be Marelli, okay, it will grow very fast in 30% to 40% growth will be there.”
Navin Juneja, page 12 of the filed PDF · View the filing
Sustainable EBITDA margin — around 17%
stated as an aspiration by Navin Juneja
p. 12
“Around 17%, you can assume.”
Navin Juneja, page 12 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said European OEMs are shifting business to India, citing BMW, Volvo, Stellantis via Marelli, JLR plastic components, and slow but promising progress with Cummins America.
Answered by Anuj Talwar
Asked by Dipen Shah: On new OEMs diversifying supply chains from China to India and updates on Stellantis and Kia projects.
p. 6
“So, BMW giving us more business, existing customer. Volvo as a potential new customer with the gasket business, Marelli has just opened up its doors with Stellantis.”
Anuj Talwar, page 6 of the filed PDF · View the filing
Management said a clearer picture would emerge by end of September due to ongoing court proceedings.
Answered by Anuj Talwar
Asked by Dipen Shah: Update on the Marelli stake discussions.
p. 7
“So, we will have a better picture for you around end of September.”
Anuj Talwar, page 7 of the filed PDF · View the filing
Management said data centre contributes about 5% of the gasket business currently, growing.
Answered by Anuj Talwar
Asked by Richita: What percentage of gasket revenue currently comes from the data centre segment?
p. 7
“It's only about 5% of the gasket business today.”
Anuj Talwar, page 7 of the filed PDF · View the filing
Management projected gasket division reaching INR850-900 crores and forging INR650-700 crores over 3-4 years.
Answered by Anuj Talwar
Asked by Richita: What is the peak revenue potential for gasket and forging divisions?
p. 8
“I easily see gasket going to about INR850 crores to INR900 crores and forging at about INR650 crores to INR700 crores.”
Anuj Talwar, page 8 of the filed PDF · View the filing
Management cited manpower shortages, rising LPG prices and reduced schedules from BMW and GKN due to the European car market slowdown.
Answered by Anuj Talwar
Asked by Shikha Mehta: Was the forging division's weak Q1 growth due to Europe slowdown or order delays?
p. 9
“In forging we had a bit of aslowdown because of 2 things. One is that some orders took a little bit time to come into execution mode. Number two, schedules from customers like BMW and GKN came down because of the European car market.”
Anuj Talwar, page 9 of the filed PDF · View the filing
Management said the same gasket is supplied to Cummins, but application and demand have increased with data centre generators.
Answered by Navin Juneja
Asked by Shikha Mehta: Is the data centre gasket a higher-margin product than standard gaskets?
p. 10
“We are supplying Cummins, the same gasket. The gasket application has gone up. First application was in normal generator, home generator shop, etcetera. Now with the new opportunity of data centre coming up, the demand generator has gone up very, very high.”
Navin Juneja, page 10 of the filed PDF · View the filing
Management attributed the shortfall to loss of Meritor business due to Trump tariffs and muted demand from Europe.
Answered by Navin Juneja
Asked by Richita: Why did the forging division's FY27 revenue guidance come down from an earlier INR400 crore expectation?
p. 11
“Meritor Business was INR30 crores, INR40 crores per annum. That business couldn't mature because of Trump tariff, etcetera, when it was backed out.”
Navin Juneja, page 11 of the filed PDF · View the filing
Risks flagged
Elevated commodity prices including steel and aluminium pressured margins
p. 4
“Margins during the quarter witnessed temporary pressure on account of elevated commodity prices, particularly steel and aluminium as well as other inflation costs such as labour increases in some states.”
Anuj Talwar, page 4 of the filed PDF · View the filing
Slow European car market and inflation pressure affecting export-oriented forging business
p. 4
“And the European car markets are still slow right now given the fact there's a lot of inflation pressure out there.”
Anuj Talwar, page 4 of the filed PDF · View the filing
Chinese car segment weakness affecting balance sheets
p. 4
“And even the Chinese car segment has really, really dented their balance sheet.”
Anuj Talwar, page 4 of the filed PDF · View the filing
Operational pressures from West Asia crisis, manpower shortages, higher wage costs, elevated LPG prices
p. 5
“Operational pressures from West Asia crisis, manpower shortages, higher wage costs, elevated LPG prices have largely moderated through a few channels remain.”
Anuj Talwar, page 5 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.