NDR Auto Components Ltd

NDR Auto Components Limited trading window will remain closed from October 1, 2026 till 48 hours after the announcement of Unaudited Financial Results for the quarter and six months ending on September 30, 2026.

Meeting Details

• Date and time: September 24, 2026 at 02:00 P.M.
• Type and mode: One-on-One; Virtual
• Organizer: Spark PWM Private Limited

Participants

• Key company participants: Executive Director and Company Secretary

Purpose

• Purpose: Analyst/Investor Meeting.

Meeting Details

• Date: September 24, 2026; starting time 02:00 PM; one-on-one virtual meeting.
• Organiser: Spark PWM Private Limited.

Participants

• Key company participants: Executive Director; Company Secretary.

Purpose

• Purpose: Analyst/Investor meeting with Spark PWM Private Limited.

Additional Notes

• Note: meeting may be cancelled, rescheduled or postponed.

Meeting Details

• Date and time: August 24, 2026 at 11:00 AM.
• Mode: Virtual, one-on-one meeting.
• Organizer: Choice Institutional Equities.

Participants

• Key company participants: Executive Director and Company Secretary.

Purpose

• Purpose: Analyst/Investor meeting with Choice Institutional Equities.

Meeting Details

• Date and time: August 24, 2026 at 11:00 AM.
• Meeting type and mode: virtual one-on-one meeting.
• Organizer: Choice Institutional Equities.
• Purpose: Analyst/Investor meeting.
• Key company participants: Executive Director and Company Secretary.

Financial Performance

• Revenue for Q1 FY27: INR221.45 crore.
• EBITDA margin guided at 11%–12%.
• Consolidated JV loss (Hayashi) for the quarter: INR58 lakh.
• Bharat Seats JV profit share: INR1.78 crore.
• Order book as on June: INR650 crore.
• Capex guidance: INR40–50 crore annually for next 2 years.

Operations & Capacity

• Anantapur NDR Auto South plant inaugurated; SOP from Q2 FY27; production in 10–15 days.
• Debt-funded NDR South capex of INR23 crore; converted to equity.
• Ambient lighting orders to contribute from FY28.
• Sunshade business already started; revenue potential INR70–80 crore.
• Aurangabad plant timeline tied to Toyota; likely CY-2029 start.
• Asset turnover guidance: approximately 4x for INR150 crore capex.

Guidance & Outlook

• Target INR3,000 crore revenue by FY30; progress to be shared.
• Bharat Seats target around INR3,500 crore by FY30.
• Ambient lighting contribution expected from FY28.
• Hayashi JV break-even at INR100–150 crore revenue; losses expected in near term.
• Diversification: bidding with Toyota and Kia; non-Maruti ramp-up in 2–3 years.
• Capex guidance remains INR40–50 crore annually.

Q&A Highlights

• Order book around INR650 crore; additional bids in progress.
• NDR South revenue addition expected in Q2 FY27; plant ramp-up.
• NDR Hayashi break-even revenue guidance reiterated at INR100–150 crore.
• Non-seat products to contribute margin similar to seats; EV impact modest.
• Bharat Seats premiumization largely reflected in Bharat Seats; ROCE impact discussed.

Meeting Details

• Date: August 11, 2026; time not disclosed.
• Type/Mode: Analyst/Investor Conference Call, group virtual.

Participants

• Key company participants: Whole-time Director; Executive Director & Company Secretary; Chief Financial Officer; GM-Finance.

Purpose

• Discuss product categories and performance for the quarter ended June 30, 2026.

Recording

• Audio recording of the conference call uploaded on the company website.

Business Overview

• Core business: auto components and seating systems for passenger and commercial vehicles.
• Strategic initiatives include new JVs and capacity expansion to serve OEMs across India.
• 2030 vision targets Rs 3,000 crore revenue and ~35% ROCE.

Key Operational Highlights

• Order book stands at Rs 650 crore as of June 30, 2026.
• Ambient lighting order wins diversify the order book.
• NDR Hayashi Automotive India Pvt Ltd commences Bengaluru sunshade operations.
• South India plant inaugurated to cater to OEMs in the region.
• ESOPs approved for key NDR Auto Group employees.
• Outlook remains strong; focus on OEM relationships, new OEMs, disruptive offerings.

Financial Performance

• Revenue from operations rose 19.56% YoY to Rs 221.45 crore.
• Debt-free company; capex funded entirely through internal accruals.
• Q1 FY27 EBITDA margin 11.88%; up from 11.01% year-ago quarter.
• Profit before tax was Rs 21.10 crore; PAT Rs 16.40 crore.
• ROCE -35.34% as of June 30, 2026 (excluding non-productive land/surplus cash).

Capex & Investments

• Total expansion capex across projects: Rs 149.80 crore.
• Seat insert fabric at Manesar: Rs 21.89 crore; 6 million p.a. capacity.
• Seat trim & frames at Ananthpur: Rs 22.56 crore; 0.17 mn p.a. capacity.
• Ambient light, carpet, sun shades at Bengaluru: Rs 80.49 crore; sunshade produced.
• Seat latch at Pathredi: Rs 17.43 crore; Jan-27 SOP.
• Seat belt reminder system: Rs 7.43 crore; Jan-27 SOP.
• All capex funded via internal accruals.

JV & Partnerships

• Bharat Seats Limited (BSL) 28.66% equity held by NDR Auto Components.
• Toyota Boshoku Relan India Private Ltd (TBRI): 50% equity owned by NDR.
• Toyo Sharda India Private Limited (TSIL) JV for seat devices and frames.
• NDR Hayashi Automotive India Pvt Ltd formed in 2025 to manufacture interior/exterior components including ambient lighting.

Risks & Mitigation

• Macro and regulatory risks; forward-looking statements are non-guaranteed.
• Industry structure changes, tax/import duty changes, litigation, and labour relations.

Governance & Leadership

• Board includes Chairman Sanjiv Kapur and Co-Chairman Rohit Relan.
• Group CEO: Rajiv Arora; Group CFO: Vikram Rathi.
• ESOP grant approved for key employees.