Talbros Automotive Components Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Talbros Automotive Components Ltd filed with BSE on 27 May 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 reported consolidated Q4 FY26 revenue of INR237 crores, up 15% year-on-year, with EBITDA of INR45 crores at an 18.7% margin and PAT of INR32 crores. For the full year FY26, the company crossed INR100 crores in PAT for the first time, reaching INR104 crores. Management discussed new order wins across its Gasket, Forging and joint venture businesses and outlined capex plans and growth expectations for FY27.
2 statements from this call are not shown because their supporting quotes could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Consolidated revenue from operations: INR237 crores (Q4 FY26)
p. 4
“Our consolidated revenue from operations stood at INR237 crores in the quarter with a growth of 15% year-on-year.”
Anuj Talwar, page 4 of the filed PDF · View the filing
EBITDA: INR45 crores (Q4 FY26)
p. 4
“At the EBITDA level, at Q4, we declared EBITDA of INR45 crores, a growth of 12.9% and a record high margin of 18.7%, reflecting robust operating leverage and disciplined cost”
Anuj Talwar, page 4 of the filed PDF · View the filing
PAT: INR32 crores (Q4 FY26)
p. 4
“management. PAT for quarter 4 grew 19% year-on-year to INR32 crores at a PAT margin of”
Anuj Talwar, page 4 of the filed PDF · View the filing
PAT: INR104 crores (FY26)
p. 4
“Its IPL season, we crossed the century impact, and for the first time, we ended the PAT at”
Anuj Talwar, page 4 of the filed PDF · View the filing
Gasket and Heat Shield division revenue: INR164 crores (Q4 FY26)
p. 4
“the division delivered revenue of INR164 crores, a growth of 15% year-on-year with EBITDA.”
Anuj Talwar, page 4 of the filed PDF · View the filing
Forging division revenue: INR76.2 crores (Q4 FY26)
p. 4
“In Q4 '26, the Forging division delivered a strong recovery with revenues of INR76.2 crores, up 11% year-on-year, validating the normalization, we had”
Anuj Talwar, page 4 of the filed PDF · View the filing
Marelli Talbros Chassis Systems full year revenue: INR346 crores (FY26)
p. 5
“Marelli Talbros Chassis Systems, our 50/50 JV with Marelli, reported full year revenues of INR346 crores with a growth of 21% year-on-year, and quarter 4, it grew at 35%.”
Anuj Talwar, page 5 of the filed PDF · View the filing
Total revenue from operations: INRS8 crores (FY26)
p. 6
“Total revenue from operations for FY26 stood at INRS8 crores as against INRS4S crores in FY25, registering a growth of 5% on Y-0-Y basis.”
Navin Juneja, page 6 of the filed PDF · View the filing
EBITDA margin: 17.5% (FY26)
p. 6
“EBITDA margin remained healthy at 17.5%, reflecting the benefits of operational improvement, cost management initiatives and a better product mix.”
Navin Juneja, page 6 of the filed PDF · View the filing
Profit after tax: INR104 crores (FY26)
p. 6
“Profit after tax for FY26 stood at INR104 crores as against INRO4 crores in FY25, registering a healthy growth of 10% on a Y-0-Y basis.”
Navin Juneja, page 6 of the filed PDF · View the filing
New orders secured: INR500 crores
p. 5
“New orders worth INR500 crores have been secured in the Forging business with a significant portion from new onboarded major European car maker in Europe as well.”
Anuj Talwar, page 5 of the filed PDF · View the filing
New domestic orders secured: INR170 crores
p. 5
“New domestic orders worth INR170 crores have been secured for hoses and anti-vibration products, showing good growth in the coming new years.”
Anuj Talwar, page 5 of the filed PDF · View the filing
Consolidated group turnover: INR1,383 crores (FY26)
p. 11
“Last year, we closed as a consolidated group turnover of INR1,383 crores, okay, INR1,383 crores.”
Navin Juneja, page 11 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.
Consolidated revenue growth — 15% to 20% · FY27
stated firmly by Anuj Talwar
p. 6
“We remain confident of delivering a 15% to 20% year-on-year growth in '27.”
Anuj Talwar, page 6 of the filed PDF · View the filing
EBITDA margin — 17% to 18% · FY27
stated as an aspiration by Anuj Talwar
p. 6
“Our focus will be to maintain EBITDA margins between 17% to 18% through product mix and operational leverage as well as cost management.”
Anuj Talwar, page 6 of the filed PDF · View the filing
Capex — INR103 crores · FY27
stated firmly by Anuj Talwar
p. 5
“we are going to invest INRS1 crores in '26 and plan to invest about INR103 crores in '27.”
Anuj Talwar, page 5 of the filed PDF · View the filing
Stand-alone business revenue growth — double-digit · FY27
stated firmly by Navin Juneja
p. 10
“Yes, sir. Definitely, we will get a double-digit growth. Yes, sir. Because some orders, which are commercialized, at least INRGO crores, INR70 crores new billing will happen from new part numbers, minimum.”
Navin Juneja, page 10 of the filed PDF · View the filing
Total revenue — INR1,000 crores · FY27
stated firmly by Navin Juneja
p. 14
“We are targeting for crossing INR1,000 crores this year, definitely.”
Navin Juneja, page 14 of the filed PDF · View the filing
Marelli Talbros Chassis Systems revenue growth — 35% to 40% · FY27
stated conditionally by Navin Juneja
p. 16
“Yes. Next year, I'm expecting Marelli maybe should to grow between 35% to 40% and Marugo should be around 15%. This is the top line guidance.”
Navin Juneja, page 16 of the filed PDF · View the filing
Talbros Marugo revenue growth — around 15% · FY27
stated conditionally by Navin Juneja
p. 16
“Yes, 15% - around 15% from Marugo and Marelli should be between 35% to 40%.”
Navin Juneja, page 16 of the filed PDF · View the filing
Q1 FY27 top line — in line with Q4 FY26 · Q1 FY27
stated conditionally by Navin Juneja
p. 15
“As of today, I can say that it should be around that.”
Navin Juneja, page 15 of the filed PDF · View the filing
Exports share of revenue — 30% · next one or two years
stated as an aspiration by Navin Juneja
p. 16
“And also don't forget, exports we are talking about will reach 30% in the next one or two years.”
Navin Juneja, page 16 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 explained that several major orders were delayed due to timing shifts with customers such as Stellantis, a European EV manufacturer, a Korean carmaker and the Forging division, but said commercialization has now started or will start in coming months.
Answered by Navin Juneja
Asked by Anubhav Mukherjee: Why has revenue growth not matched the scale of declared order wins over the last three years?
p. 9
“This is a broad, broad thing I can tell you. So things are happening. Its delayed one year here and there.”
Navin Juneja, page 9 of the filed PDF · View the filing
Management said tracking a precise total order book is difficult given phased ramp-ups and many small orders, and that only large orders are tracked.
Answered by Navin Juneja
Asked by Anubhav Mukherjee: What is the current total outstanding order book?
p. 9
“Order commercialized, the new order comes then it goes like that. It's a continuous process very difficult to track, because lot -- some are very, very small orders, very difficult to track cach and every.”
Navin Juneja, page 9 of the filed PDF · View the filing
Management said it is too early since he just joined and KPIs will be shared closer to Diwali.
Answered by Navin Juneja
Asked by Anubhav Mukherjee: What are the new CEO Ashish Gupta's key KPIs and focus areas?
p. 9
“He has just joined a month back. And give him some time. We will come out with this KPI, eteetera, not on the call.”
Navin Juneja, page 9 of the filed PDF · View the filing
Management said margins would be maintained over the full year despite quarterly fluctuations, as price increases are eventually passed through to customers.
Answered by Navin Juneja
Asked by Kaushal Shah: Can margins be maintained given input cost pressures?
p. 10
“We will be able to maintain the margin. I just want request investors, don't look at quarterly margins.”
Navin Juneja, page 10 of the filed PDF · View the filing
Management attributed the margin compression to delayed pass-through of raw material price decreases and exchange rate resets to customers.
Answered by Navin Juneja
Asked by Shikha Mehta: Why did Forging division margins compress this quarter despite revenue growth?
p. 12
“There was a price in the month of July, August last year. We didn't pass on the price decrease to a customer, saying that the volume is not coming, etcetera, etcetera, because now we have to pass on that price decrease to the customer from Ist of January.”
Navin Juneja, page 12 of the filed PDF · View the filing
Management said the Kia order started in February with small volumes and will be in full effect from April, the Cummins order will start billing in June, and the JLR order billing will start in September.
Answered by Navin Juneja
Asked by Shikha Mehta: Have previously deferred orders from Kia, Cummins and JLR started?
p. 13
“Ma'am, first order of Kia is started from the month of February, small volumes, okay? Now, this year it will be full post from 1st April, no issue.”
Navin Juneja, page 13 of the filed PDF · View the filing
Management said it is targeting to cross INR1,000 crores this year.
Answered by Navin Juneja
Asked by Athul Joby: Is the company sticking to its previously guided INR1,100 crores top line for FY27?
p. 14
“We are targeting for crossing INR1,000 crores this year, definitely.”
Navin Juneja, page 14 of the filed PDF · View the filing
Management said the 20% contribution is healthy compared to peers with 60-65% dependence on a single customer, and that exports are expected to reduce this ratio further.
Answered by Navin Juneja
Asked by Neil: Does Maruti's 20% customer contribution represent a concentration risk?
p. 16
“It's still a very, very hedge portfolio. 20% is very, very healthy.”
Navin Juneja, page 16 of the filed PDF · View the filing
Risks flagged
Geopolitical tensions in West Asia increasing raw material and freight costs and potentially causing shipment delays
p. 7
“Geopolitical tensions in the West Asia region led to an increase in raw material and freight costs. The ongoing situation may also result in temporary shipment delays and supply chain”
Navin Juneja, page 7 of the filed PDF · View the filing
Inflationary pressures affecting cost structure
p. 6
“As you all know, there are inflationary pressures that are coming our way, but we have to”
Anuj Talwar, page 6 of the filed PDF · View the filing
Temporary cost pressures from West Asia war
p. 5
“While the West Asia war may lead to some temporary cost pressures, inquiries”
Anuj Talwar, page 5 of the filed PDF · View the filing
Delay in order commercialization from European EV customer changing production plans
p. 8
“Second order was for our European car manufacturer for EV vehicles, which got delayed. Initially, they said they will make 100% vehicle EV, but now they are doing 50/50.”
Navin Juneja, page 8 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.