Uniparts India Ltd (BSE: 543689; NSE: UNIPARTS), a global supplier of engineered systems and precision components used in off-highway vehicles (OHVs), reported strong Q3 FY26 results with revenue up 34%, EBITDA rising 66% and profit jumping 74% YoY on improving global demand.
The company’s product portfolio includes three-point linkage systems, precision machined parts, fabrication components and power take-off solutions. Uniparts operates seven manufacturing facilities across India and the United States and serves customers in more than 25 countries, supported by a dual-shore manufacturing and global delivery model.
Q3 FY26 & 9M Financial Performance
- Uniparts reported strong financial growth in Q3 FY26.
- Total revenue rose 34.2% year-on-year to ₹2,867 million.
- EBITDA increased 65.5% to ₹617 million, while profit before tax climbed 92.9% to ₹476 million.
- Net profit rose 74.1% to ₹333 million despite a one-time labour-code related exceptional cost.
- EBITDA margins expanded to 21.5% from 17.4% a year earlier, reflecting improved operational efficiency and higher demand.
- For the first nine months of FY26, revenue grew 16.9% year-on-year to ₹8,486 million.
- EBITDA increased 46.6% to ₹1,834 million, while net profit rose 64.4% to ₹1,072 million. The performance was driven by strong execution, improved order flows and favourable operating leverage.
Operational & Business Highlights
- Warehouse-led sales accounted for over half of revenues during the nine-month period, enhancing customer proximity and supply-chain responsiveness.
- The company expanded offerings in adjacent product categories such as hydraulic cylinders and fabrication components, while maintaining leadership in small-tractor linkage systems and precision machined parts.
- Agriculture remained the largest segment, contributing about 58% of revenue during the period.
Key Milestones
- Listed on BSE & NSE, improving visibility and capital access.
- Acquired Iowa (USA) manufacturing & distribution facility, strengthening global footprint.
- Secured major global OEM relationships, including John Deere & Japanese OEMs.
- Expanded into US & European construction equipment markets, diversifying revenue.
- Built global warehousing & near-shoring network (US, Germany, Mexico), enhancing margins and supply-chain resilience.
Industry Trends & Market Environment
- The operating environment is improving gradually across segments. Construction equipment demand is supported by infrastructure spending, energy transition projects and stable multi-year pipelines in the United States and Europe.
- Small agriculture equipment is recovering faster than large agriculture, aided by strong farm economics in India and inventory restocking globally. Large agriculture markets are stabilising after a cyclical downturn, with gradual recovery expected.
Geographic Presence & Customer Base
- The Americas remained the largest revenue contributor, followed by Europe, Japan, India and other regions.
- The company services all major global agricultural OEMs and several leading construction equipment manufacturers, supported by local delivery, direct exports and warehouse sales.
Management Commentary
- Chairman and Managing Director Gurdeep Soni said diversified exposure across geographies and end markets helped the company benefit from uneven industry recovery.
- Management highlighted steady improvement in the order book and resilient performance despite Q3 typically being a seasonally weaker quarter.
Growth Strategy & Outlook
Future growth drivers include new high-horsepower tractor platforms, expansion into large construction equipment, deeper penetration into Asia-Pacific markets and potential strategic acquisitions. Management reiterated long-term EBITDA margin guidance around 20%, supported by product innovation, operational efficiencies and continued warehouse expansion.
Key Takeaway
With diversified global exposure and strengthening industry cycles, Uniparts is positioned to capture growth opportunities while navigating cyclical demand trends across agriculture and construction equipment markets.