Talbros Automotive Components Ltd (TALBROAUTO)
🎯 Key Takeaways
- Talbros Automotive Components is transitioning from a stable, dividend-paying mid-cap auto ancillary player to a growth-oriented company with strategic bets in EV components and export expansion, evidenced by double-digit revenue growth, margin improvement, and significant new order inflows. Management is actively investing in capacity scaling to capture emerging opportunities while maintaining profitability.
- Revenue grew 0.8% QoQ to ₹238 in Q1FY27.
- ⚠️ Execution risk in scaling EV and export businesses: new orders are secured, but commercialization timelines and margin sustainability in EVs remain un
- Market Cap
- ₹2,678
- P/E Ratio
- 23.9
- P/B Ratio
- 3.61
- ROE
- 15.1%
- ROCE
- 18.8%
- Debt/Equity
- 0.10
- Div Yield
- 0.17%
- Promoter
- 58.4%
📖 The Story
Talbros Automotive Components is transitioning from a stable, dividend-paying mid-cap auto ancillary player to a growth-oriented company with strategic bets in EV components and export expansion, evidenced by double-digit revenue growth, margin improvement, and significant new order inflows. Management is actively investing in capacity scaling to capture emerging opportunities while maintaining profitability.
📰 What's Happening
In Q1 FY27 (August 10, 2026 filing), the company reported a 15% YoY revenue increase to ₹242 crores and a 35% YoY PAT rise to ₹30 crores, with EBITDA margin expanding to 17.6%. Management highlighted strong performance in gaskets, forgings, and JV contributions despite inflationary pressures. New orders exceeded ₹1,000 crores, including ₹100 crores from EV components and ₹700 crores from exports, primarily from European OEMs. A follow-up filing on August 29, 2026, confirmed plans for ₹103 crores of capex in FY27 to scale gasket, heat shield, and forging capacities, with EV orders beginning commercialization. The 69th AGM on September 25, 2026, will seek shareholder approval for related party transactions up to ₹125 crores and ratify auditor remuneration.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 207 | 213 | 214 | 237 | 238 |
| Operating Profit | 23 | 24 | 24 | 33 | 31 |
| OPM % | 11.3% | 11.0% | 11.4% | 13.8% | 12.8% |
| Net Profit | 22 | 23 | 27 | 32 | 30 |
| EPS | ₹3.60 | ₹3.74 | ₹4.41 | ₹5.12 | ₹4.86 |
Revenue has grown consistently over the past five quarters, with the most recent quarter (June 2026) showing ₹238 crores in revenue and ₹30 crores in PAT — up sharply from ₹207 crores and ₹22 crores in the same period last year. Operating margins have improved from 11.3% in June 2025 to 12.8% in June 2026, reflecting better cost management. PAT growth has outpaced revenue growth in recent quarters, indicating operating leverage. Management expects 18-20% revenue growth for FY27 while maintaining EBITDA margins, suggesting sustained momentum if execution holds.
🔮 Management Outlook & What's Next
Management has guided for 18-20% YoY group revenue growth in FY27 while maintaining EBITDA margins, underpinned by new orders in EV and export segments. Capex of ₹103 crores is planned for FY27 to scale key production lines, with EV component commercialization expected from the same fiscal year. The company is positioning itself for structural growth in electric vehicle supply chains and global market penetration, particularly in Europe.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 12 |
| Reserves | 620 | 583 | 731 | 669 |
| Borrowings | 94 | 94 | 75 | 86 |
| Total Liabilities | 951 | 939 | 1,085 | 1,011 |
| Fixed Assets | 220 | 220 | 225 | 215 |
| Investments | 209 | 214 | 249 | 225 |
| Total Assets | 951 | 939 | 1,085 | 1,011 |
The balance sheet shows a stable capital structure with low debt (D/E of 0.13 as of March 2026) and growing equity and reserves. Total assets rose to ₹1,085 crores from ₹1,011 crores a year ago, driven by operational growth. Capex of ₹103 crores planned for FY27 is funded through internal accruals and modest debt, indicating a conservative approach to expansion without over-leveraging. Reserves have steadily increased, supporting long-term financial resilience.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2025 | Mar 2026 |
|---|---|---|
| Operating | +80 | +85 |
| Investing | -45 | -36 |
| Financing | -23 | -28 |
| Net Cash Flow | +12 | +21 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 58.4% | 58.4% | 58.4% | 58.4% |
| FII | 0.7% | 0.6% | 0.5% | 1.3% |
| DII | 0.0% | 0.1% | 0.1% | 0.2% |
| Public | 32.3% | 32.0% | 31.8% | 31.0% |
| # Shareholders | 66,968 | 63,369 | 60,911 | 55,208 |
Promoter holding remains stable at 58.43% over the last four quarters. FII ownership has declined slightly from 0.72% in Q2FY26 to 1.26% in Q1FY27, while DII holdings remain minimal (<0.2%). Public shareholding has gradually increased from 31% to 31.77%, with the number of shareholders rising from 60,911 to 55,208 — suggesting possible retail consolidation. No significant institutional accumulation or exit signals are evident, but foreign interest remains limited.
⚖️ Peer Comparison — Auto Ancillaries
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| MOTHERSON | 1.68 L Cr | 38.4 | 13.9% | — | 0.39 |
| BOSCHLTD | 1.34 L Cr | 56.9 | 21.7% | — | 0.00 |
| UNOMINDA | 67,067 | 55.7 | 19.3% | — | 0.37 |
| SONACOMS | 50,702 | 72.8 | 15.2% | — | 0.04 |
| ENDURANCE | 37,561 | 38.7 | 17.3% | — | 0.15 |
| EXIDEIND | 34,697 | 37.2 | 9.8% | — | 0.08 |
| CRAFTSMAN | 27,502 | 52.3 | 14.7% | — | 1.02 |
| SANSERA | 27,382 | 78.3 | 14.3% | — | 0.15 |
| ZFCVINDIA | 26,158 | 10.6 | 18.3% | — | 0.00 |
| SUNDRMFAST | 24,056 | 39.4 | 17.4% | — | 0.14 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Execution risk in scaling EV and export businesses: new orders are secured, but commercialization timelines and margin sustainability in EVs remain unproven. 2. Input cost volatility: Management cites inflationary pressures as a headwind, but sustained cost inflation could compress margins despite current improvements. 3. Export concentration: Over ₹700 crores of new orders are export-linked, exposing the company to global demand slowdowns or currency fluctuations. 4. Capex overhang: ₹103 crores of planned investment may strain cash flows if order execution lags or delays occur.
📋 Recent Filings
- Announcement2026-09-26Talbros Automotive Components Ltd announced that its trading window will close on 1 October 2026 for insiders until 48 hours after the unaudited finan…
- 🟡 Board Meeting2026-09-26Talbros Automotive Components announced the appointment of Mr. Rahul Bhutoria as a Non-Executive Independent Director effective 16 September 2026 for …
- 🟡 voting results2026-09-26At the 69th AGM held on 25 September 2026 via video conferencing, all resolutions were passed with requisite majority. Shareholders approved the adopt…
- 🟡 Board Meeting2026-09-25Talbros Automotive Components held its 69th AGM on 25 September 2026 via video conference, reporting a historic first three-digit PAT milestone for FY…
- 🟡 Board Meeting2026-09-16Talbros Automotive Components announced the appointment of Rahul Bhutoria as an additional independent director effective September 16, 2026, pending …
- 🟡 Board Meeting2026-09-16The Board of Talbros Automotive Components approved the appointment of Mr. Rahul Bhutoria as an Independent Director effective September 16, 2026, sub…
- 🟡 Board Meeting2026-09-16Talbros Automotive Components announced the appointment of Mr. Rahul Bhutoria as an Additional Independent Director effective 16 September 2026, pendi…
- 🔴 Announcement2026-09-09Talbros Automotive Components announced its schedule for upcoming analyst and institutional investor meetings, listing specific dates, times, and virt…
- 🟡 Board Meeting2026-08-29Talbros Automotive Components Ltd will hold its 69th AGM on September 25, 2026, at 12:30 PM IST via video conference, where shareholders will vote on …
- 🔴 annual report2026-08-29Talbros Automotive Components Ltd (TALBROAUTO) reported FY2025-26 revenue of **₹889 Crores**, EBITDA of **₹155 Crores**, and PAT of **₹104 Crores** (1…
🧠 Analyst's Read
Talbros is executing a clear strategic shift toward high-growth segments like EVs and exports, supported by strong order visibility and margin expansion. The next few quarters will be critical to validate whether this growth is sustainable and scalable. Watch for management’s ability to convert new orders into revenue and maintain profitability amid rising capex and input cost pressures.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-30.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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