Menon Bearings Ltd (NSE: MENONBE) Q1 2026 Earnings Call dated Jul. 30, 2025
Corporate Participants:
Unidentified Speaker
Arun Aradhye — Whole Time Director & Chief Financial Officer
Aditya Menon — Promoter Group
Analysts:
Unidentified Participant
Presentation:
Unidentified Speaker
Ladies and gentlemen, I welcome you all to the Q1FY26 post earnings conference call of Men and Bearings Limited. Today on the call from the management we have with us Mr. Arun Aratil. Whole time Director and CFO Mr. Aditya Menon, part of the promoter group. As a disclaimer I would like to inform all of you that this call may contain forward looking statements which may involve risk and uncertainties. Also a reminder that this call is being recorded. I would now request the management to quickly brief us about the business and performance highlights for the quarter ended.
The growth plan and vision for the coming year post which we will open the floor for Q A. Over to you, sir.
Arun Aradhye — Whole Time Director & Chief Financial Officer
Okay. Good afternoon everyone. On behalf of Maiden Bearing Ltd. I want to welcome all participants to our quarter. First FY25 26 earnings conference call. Thank you for taking the time to join us and for your continued trust and support. Also joining the call from management are is Mr. Aditya Menon. Let me begin by sharing the key financial highlights for the quarter ended 30th June 2025. Total revenue stood at Rupees 68.81 crores marking at 17% year on year growth. EBITDA came in at Rupees 14.51 crores reflecting a margin of 21%. That is up by 27.69%. Profit before tax was 11.06 crores up from 8.23 crores in quarter one for FY 2425, that is up by 34.42%.
Profit after tax stood at 8.43 crores compared to Rupees 6.16 crores in the same quarter last year. That is up by 36.91%. Operationally, the first quarter witnessed a strong recovery in demand from both the automotive and industrial sectors. Our core segments, engine bearings, bushings and thrust washers continue to perform well in both domestic and international markets. Now I will let you know the key updates which include OEM and Taiwan. Customer demand remain strong. We effectively manage commodity cost volatility through improved inventory planning and operational efficiency. Capacity utilization for the quarter averaged around 78%. We successfully commissioned the CapEx in our only owned subsidiary Menan Alcop Ltd.
Our only owned subsidiary Mena Alcock Ltd. Which operates in the aluminium die casting segment continues to show strong growth potential. The subsidiaries posted quarter one revenue of Rs. 20.26 crores driven by increasing demand from the automotive sector. We are optimistic about Scaling this business in the coming quarters. Looking ahead, we expect robust demand particularly from the export markets. We are actively pursuing customer diversification with automation and cost optimization being our key focus areas for the rest of FY26. In summary, it has been stable and encouraging start to the year. Our performance reflects the resilience of our business model, the strength of our customer relationships and our ongoing drive for operational excellence.
We remain committed to long term value creation and are confident about sustaining this momentum in the upcoming quarters. With that, we now open the floor for questions and we’ll be happy to answer. Thank you.
Questions and Answers:
operator
Thank you sir. We’ll now open the floor for question and answers. Anybody who wishes to ask a question please use the option of raise hand. We’ll take the first question from Bhargo Buddhadev. Please go ahead.
Unidentified Participant
Yeah, good afternoon sir. And congratulations for the strong set of numbers.
Arun Aradhye
Oh thank you sir.
Unidentified Participant
My first question is that if we go through our presentation you mentioned that in the alcove business you are looking at reaching about 120 odd crores of revenue. Is it possible to highlight or what is the visibility for this growth? That’s my first question.
Arun Aradhye
Basically what we have shown in the presentation is 120 crores for the next year, 27 and how it will come. Mr. Aditya will let you know about it.
Aditya Menon
Have a good afternoon.
Unidentified Participant
Yeah, good afternoon.
Aditya Menon
So for the last two years because we are seeing a demand for aluminium castings because of China plus one and because of the Ukraine, Russia, war, Europe plus one. So the last two years we’ve been working very hard developing new parts for our customers. So we have done, especially for export, we’ve done a lot of new development parts. So we developed around maybe 63 parts in the last two years where we have. What do you say?
Unidentified Speaker
Production product.
Aditya Menon
We have submitted the samples and we’re getting the orders now. So that growth we are going to see in the coming two years. So by end of 2026 we should be reaching 120 crores.
Arun Aradhye
We will be reaching about 85 to 90 crores. And next year we’ll be reaching 120.
Unidentified Speaker
Yeah.
Aditya Menon
So in the next two years we should. Because the order starts, you know, with a small quantity because we have to. Either we are doing a new engine or we are replacing an existing customer. So when they are, when we are replacing existing customer they start small with us. So you know, to make sure the transition period is right. So you know they don’t even disturb the current supply chain. So that’s the process happening. So we already started getting new orders which are orders and then the new quarter. So the next the foreseeable future looks promising.
So that’s the main growth driving factor for Alcorp.
Arun Aradhye
And considering the sample that were already developed and which have been approved by the customers and according to their schedule they are releasing the orders. And within this year and next year we’ll be completing all the orders of which the samples have been already approved. And considering that, we are very much sure that we should be able to reach 120.
Unidentified Participant
Secondly sir, in the brakes division you’ve guided for the reaching hundred odd crores. So my question is that is it subject to the railway approval that we are seeking or it is irrespective of.
Arun Aradhye
The railways approval that is subject to railway approval that is in process. Along with that we will be getting orders from one of the prominent customers which is catering to OEMs. And that is pending just because of testing equipment, that is dynamometer which cost around 3 crores of rupees which is under process and will be getting that dynamometer by the end of September after which railway people will again come, will inspect and will approve as a approved supplier for railways. Similarly other OEM customer, he will also approve as soon as we send them the samples tested on dynamometer.
And huge business is expected to come out of that also. Answer.
Unidentified Participant
Lastly, in the biometrical business we mentioned that the US part of the exports can see a ramp up. So if you can sort of highlight key drivers for this it would be very useful. And that would be my last question.
Arun Aradhye
Okay. That business is coming and where they already approved all the samples and production will start from the next month.
Unidentified Participant
Great sir, thank you very much for your details and all the very best.
Arun Aradhye
And what I. What the order that we are getting from that Customer is around 30 crores per year.
Unidentified Participant
Okay, great. Thank you. Thank you.
operator
We’ll take the next question from Arnau Sahuja. Please go ahead.
Arun Aradhye
Hi.
Unidentified Participant
Thanks for taking my question. So I just wanted to ask basically in the previous con call you had mentioned that within the Alcob segment the average price is around 200 rupees across the segment and whereas Menon’s average is around 750 rupees due to various value additions. So I just wanted to get a bit more of an understanding on. On this. This. Is this realization sustainable or are there any risks to the realization falling in the future?
Arun Aradhye
We have been sustaining this kind of realization per kg for last so many years. And just because the items which are selecting and accepting for production are very very critical. With nobody easily can produce in their machine shops or their production facilities. That is the only reason why our realization rate is higher as compared to others.
Unidentified Participant
Right. And on the flip side, is there a potential for the realization to improve even further from 750 rupees or will it stay at around this level that.
Arun Aradhye
Will stay around 700 to 800 rupees between 7 and 2 800. Right.
Unidentified Participant
Just moving on to my next question. So we had also mentioned in the previous con call that we were not able to pass on some of the RM burden, raw material burden to customers which had impacted the ebitda. So in this quarter were we able to pass on some of this burden?
Arun Aradhye
You see some of the customers we already passed on that burden of raw material increase that you can see in the results. Also you can see the improvement in the EBITDA as well and some of the customers that will be passed on after September because of the predecided formula that for the prices for the April to September will be reviewed by the customers and accordingly they will do the increase.
Aditya Menon
So there’s different delta. There’s a delta in the whole year. So six months we enjoy six months the customer enjoys. So with different customers is different, different times. So some. So it’s a cycle that goes on your two year. No, it’s a cycle that keeps going.
Arun Aradhye
It’s a continuous.
Aditya Menon
So sometimes we get it but it averages out period of 2 years, 1 year it averages out. So sometimes you see a drop in ebitda, sometimes you see increase that averages out over a span of one or two years.
Unidentified Participant
Right. Thanks. Thanks for that answer. I just ask one last question if that’s fine. So is there any update to our guidance for FY 26 of 300 crores of revenue and 22% EBITDA margin or are we sticking with this guidance?
Arun Aradhye
You see what we feel that we should be able to reach almost 300 crores this year. What Considering the order book position and maybe for the next year we’ll be reaching almost 3 and a half 350 crores. This is what is considering the development that have taken place and better potential or very good potential in alop we can see and we are sure that after the business of railways and other o customer into breaks also we should be easily reaching that particular figure. What we forecast now you are very much optimistic about that.
Unidentified Participant
Okay, thank you.
Arun Aradhye
For that year on year we should be able to grow at a at a rate between 18 to 20%.
Unidentified Participant
Right? All right. Thank you for answering my questions. Congratulations and best of luck.
Arun Aradhye
Thank you.
Aditya Menon
Thank you. Thank you.
operator
Arnav, we’ll take the next question from Kunal Toas. Please go ahead. Yes, Kunal.
Unidentified Participant
Okay. First question about the bridge segment. You said Your target was 100 crore and you are. You have been handicapped by the unavailability of the dynamometer. So how soon will this target be met after you receive that equipment?
Arun Aradhye
By the end of this year we should be able to have a figure of almost 3 to 4 score. 3 to 4 crores per year? Per month. Sorry.
Unidentified Participant
Crore by the end of the year.
Arun Aradhye
Yeah.
Unidentified Participant
And of your 350 crore target for FY27, how much do you expect the break segment to be?
Arun Aradhye
The equipment? What we are postponed. Forecasting is almost 100. 100.
Unidentified Participant
So the ramp up will be quite fast after you receive this equipment. 1 100.
Arun Aradhye
Right.
Unidentified Participant
Okay. And of your the current order book position that you mentioned in the PPT of 90 crore rupees, how does that break up between bimetal and alcohol?
Arun Aradhye
It is 60, 30. Right? Bimetal 60 and 30 alcohol.
Unidentified Participant
Okay. Hang off your 120 crore target for Algop. How much what breakup do you expect between domestic tank export?
Arun Aradhye
Export will be almost at 35 to 40%.
Unidentified Participant
All right. All right. And just a last question on men and ventures. Are there any updates on what Any concrete updates on what kind of businesses you are looking at?
Arun Aradhye
So we have received one proposal from one of our investors as well. He’s helping us to get recharge electric cars. We are working on that. We are not concluded on that as yet. But we are studying the proposal and we’ll see how best we can take it. On actual as a project, we are.
Aditya Menon
Exploring few parts in the EV recharger, the whole charging system. So it’s still ongoing project. Our team, our technical team is seeing the feasibility. But that’s one project that’s come up. It’s not sure we’re going to go ahead or. No, we’re still in the visual processing the whole thing. But that’s kind of avenues we are looking at. Because EV sector also is growing and is something. Because we are manufacturing exports. We can do few parts in that or the whole system. So we’re doing. Our project team is still working on it. So nothing concrete yet but that’s the direction we are heading.
Unidentified Participant
In whatever business you eventually decide to go into. Have you decided on a sort of ceiling capital ceiling that you commit to it? The maximum amount of capital you commit to any such venture no, no.
Arun Aradhye
We are not considering any such thing as of now.
Aditya Menon
So it from. It depends on project to project. But it will be a calculated risk.
Unidentified Participant
Right.
Aditya Menon
So we don’t keep like a set amount. You know, we’re going to do this. A certain project requires so much so we have to do that. But depending on the project, the capital and the other things. So that all the. What do you say? Risk mitigation. So we have to. All that is going on currently. So depends how big the project is, how many years. So there are many factors that are going to this. But this is one project we are considering. You know, it has, you know, past. What do you say first. First round of.
What do you say if you go for interview hours without the round one. First past round one.
Arun Aradhye
But raising a ring of the fund from any viable project that we feel. Okay. Should not be a problem.
Unidentified Participant
All right. Thank you very much and have a good day.
Aditya Menon
Thank you.
operator
Thank you. Kunal, we’ll take the next question from Momoksh Manlesha, please go ahead.
Unidentified Participant
Yeah. Hi Arun sir. Hi.
Arun Aradhye
Hi. How are you?
Unidentified Participant
All good, sir. How are you, sir?
Arun Aradhye
I’m fine.
Unidentified Participant
So just first on this quarter Q1, how was the domestic and exports growth for the quarter?
Arun Aradhye
Sir, export growth was from 28. We are now reached to almost 30% and export is increasing. And you will see it will grow from 35, 30 to 35% by the end of this year.
Unidentified Participant
Got it. And so which orders would drive the good. Sir, this export.
Arun Aradhye
Sir, so expose that we already discussed, you know that was published in the paper and we are uploaded on the website as well that we have secured one order of 30 crores of rupees from one of the prominent customers from USA and that production is going to be started from next month. We actually started a production but the dispatches will start from the next month.
Unidentified Participant
Right, right. And so any improvement in Japanese export orders numbers?
Arun Aradhye
No, no. Japanese. We’re not working with Japanese. So far we are receiving very small orders from them because either they are diverted to somebody else. But what we learned from them that because of environmental. Environmental problems the babish teeth etc having laid have been banned there in Japan. And that’s why that export has been haunted.
Unidentified Participant
Got it? Got it, sir. And sir, on the coming to braking system. Sir, now sir, there’s a regulation coming up for the display for the ABS system in the two wheelers. Just want to understand if the market shifts towards disc brake and ABS system, how do you see our demand for the product, how it changes there?
Arun Aradhye
We already Developed brake pads and we are exporting them to the South African, African countries through distributor in Dubai. And we have started circulation in Indian market as well. So that should not be a problem. We already started supplying breaks to Endurance technologies in Aurangabad and they are catering to their demand from buyers.
Aditya Menon
So just for example if this comes, this technology affects the main motorcycles like Bajaj or Suzuki and they give us a drawing and we make it. So we have the capacity of making whatever design or products they want us to make. So the design and the main changes affects the two wheeler manufacturers. And also that’s one point. The other point is there’s such a huge aftermarket for two wheelers and like main brakes market is aftermarket because it’s a consumer product. So there are n numbers of two wheelers, trucks, LCVs in the market which overnight won’t adopt the new technology.
So there’s a huge number of people for the next five, 10 years will still use the current braking system also. So that doesn’t look like a big threat as such.
Unidentified Participant
Got it. Got. And so R would be mainly CV sites, right? Sir, the drum brakes, drum pads.
Aditya Menon
Yeah, that HCV lcb, drum brake pads.
Unidentified Participant
Got it, got it.
Aditya Menon
So we are doing disc brakes also which go to the European lorries. Like Mr. Aradi said, we are already what do you say? Merchant exporting to Dubai which use like for Volvo Scania. So European rallies, what they require we already for the aftermarket we are giving it to Asian and Middle Eastern countries. So we are even exploring options in the Europe. But there are a lot of safety trials which have to approve by European bodies. So that is very cost effective and time consuming. So in the future we are trying to explore that as well.
But currently we want to do brake pads, disc brakes for Indian lorries and HCV LCV systems.
Unidentified Participant
Got it sir. And great, great results. Sir, thank you so much for the opportunity.
Arun Aradhye
Thank you.
operator
Thank you. We’ll take the next question from Piyush Patel. Please go ahead.
Unidentified Participant
Hello sir. Thank you for the opportunity. Sir, what is the segment wise margin and segment wise revenue potential for the company?
Arun Aradhye
You see if you are talking about E margins for B metal it is more than 21%. For aluminum that is alcob it is 23% plus and for breaks it is 12% plus.
Unidentified Participant
Okay. And what is the revenue potential from. The EV and railway segments?
Arun Aradhye
Segment that is almost 3 to 3, 4 crores per per month. Okay. And about railway that is put together we abandon it.
Unidentified Participant
Okay. And is the company is planning to. Enter any new Segments.
Arun Aradhye
No, that is we already entered into two wheeler already there.
Aditya Menon
For aluminum we have done EV and we’re doing some parts for Taco for the new curve. So we’re doing some electric aluminum castings for them. So we’re doing some aluminum casting for eating transmission that goes in port shape. We’re doing some aluminum castings for concentric that goes to Tesla. So we have entered the EV segment also because that keeps us hired of technology. The wall thickness, the castings are more like someone asked why Value addition. So when you do more critical parts, you also know what’s happening in the industry. So you keep up with the industrial norms, the latest technology.
At the same time, when you keep up with the latest technology doing more critical parts, no competitor can easily replace you. That’s why we always aim at a higher realization rate. That’s one of the things when someone asked us why realization was important to us. So this was the reason for realization also.
Unidentified Participant
And when do you see the brake line in and brake shoe segment picking up? Since growth is looking flat for last few quarters.
Arun Aradhye
As we already told you know that as soon as we issue a dynamometer that is a testing equipment will be receiving by the end of September. After that railway people and OEM people will come and inspect and will give a certification and we’ll start the business with them first. They will. We will get an approval on the samples from railways as well as that OEM customer. And that business will start at the end of this year.
And that is around 3 to 4 crores that we feel that we should get.
Aditya Menon
And currently for braking system we are doing aftermarket and merchant export. So we have gone to many OEMs which we supply our parent company men and bearing, we supply bushes, washers. So we have very good relationship with them. So our samples are submitted. But for even OEM and for railway. For railway also we have done the registration process. We have initial audit has been done. But for both of these companies because braking systems such a safety product, they need an in house dynamometer. So this dynamometer cost, like Mr. Aradhya said, 3 crore. So as base is a new company, it’s been two years now.
So independently on his own feet we’ve ordered the dynamometer. So till then we also very. It’s a new product for us. So the last one and a half two years we are confident with the product because it’s working in aftermarket. We have a good brand name with it. Merchant exporter orders are coming again and again. Where we are competing with the world Competing with Chinese, Chinese players, other, other players from other countries. So, so at this stage we also have confident in our product. So as soon as the dynamometer comes more revenues for revenue should open up.
So in the next six months we’ll have a different picture in the brakes, braking system. Breaking braking system.
Unidentified Participant
Yeah. Okay. And how do you see the Alcob and Bimetal segment scaling up from here since for last two quarters we have good revival in growth rates. And what is, what is driving this revival?
Arun Aradhye
You see for this year Biometric will grow at a rate of 16 to 17% and aluminum diesel at the rate of 25.
Aditya Menon
The main growth is new development because like I told you global leaders are shifting from China plus one to India Policy plus Europe is shifting to India. So which company have good quality, good brand name, who are doing more critical parts? We have been, what do you say? Getting a lot of RFQs, lot of inquiries. So this is driving growth. And for Alcorp we have developed around 53 parts in the last year. We have submitted them. So now as the part is submitted it’s in testing at the custom end in the new engines or in the, you know, it’s getting replaced.
So as soon as the supply is successful, the startup business starts. So the growth is on that. So the next two years like in startup they said we’ll reach the numbers which we have positive, which we are very confident about. So this is all guaranteed growth because we submitted the samples, you know, so as soon as they pass the trials and you know their production starts, all our customer production starts, we’ll, we shall start seeing growth. A better growth than this year.
Unidentified Participant
Yeah. Okay, thank you. All the best for the future. Quarters.
Arun Aradhye
Yes, thank you. Thank you.
operator
Thank you. Piyush, we’ll take the next question from Harshil Shah. Please go ahead.
Unidentified Participant
Yeah, so thank you for the opportunity. Sir, is the company planning any joint. Ventures, acquisitions or vertical, backward or forward integration?
Arun Aradhye
Not really. As of now we are issued one proposal from Chinese company but due to diplomatic relation that we have or we are having with the Chinese counterpart, so what? The board failed that we should not go ahead with that proposal. So as of now there is no.
Aditya Menon
And we always keep our ears open. There are many proposals that come. So we always have open mind regarding forward, backward integration, some other product which we can go for, but nothing concrete as such. Like Mr. Aradesh said, there is an offer from a Chinese company but because of the whole geopolitical situation the board decided, you know, that’s not a wise decision to go ahead Apart from that.
Arun Aradhye
We already told you that so far as electric vehicle charging is concerned that we’re exploring that proposal.
Unidentified Participant
Okay. Got it sir. So what are the capacity and capacity. Utilization rates of new and existing plants?
Arun Aradhye
Capacity utilization? As such we are having 5 crores of parts components per year in biometric biometry division and capacity utilization is 78%. Similarly in alcohol aluminum division we are having a capacity of melting 1440 tons. Whereas the utilization is almost 60 to 60%. So brakes, that is 1 lakh 10,000 parts or brake lining per year. And when utilization is 40%. Got it sir, answer. When will be the new alcohol plant expansion be completed?
Aditya Menon
It’s actually already completed. We have already started shifting the machine. The new plant is getting commissioned. So now I think by the next month we’ll have the whole plant ready. Already have the plant because it’s shifting. Machine shifting is happening from one plant to another. But you can say the electric commissioning over the OC has been got. So it’s already operational. We’re already using the new plant.
Arun Aradhye
So you can. You are. You are all requested to visit that plant next month.
Unidentified Participant
And for post completion. Where does it take the capacity of. Alcohol division and what sectors are we. Targeting with this expansion?
Arun Aradhye
You see we are already having a measuring capacity of 1440 ton which is more than enough. But at the same time when there are orders from various customers and RFP that we are receiving and considering the order that those will be productionized over a period of 2 years we only have to add certain machines. CNC, VMC etc that is the only issue. And we are going to add those machine and when those are required.
Aditya Menon
And like if you are asking which customers what is this? Currently we have around 50 customers OEMs. So we have preferred customer like preferred supplier for them for. For the past so many years we are in tier one. Our customers rate us. You know, it’s like a examination quality on time. There’s ppm. There are so many different matrices that judge on us, judge us. So we are tier A supplier. So these customers only because of our performance we get new orders from them. And We’ve developed around 55 new different parts in automotive engine, oil, oil pipe, gas line, all these different sectors EV now.
So these are the different sectors which. We are already present in. But we are doing more variety of parts in the sectors in aluminium. So that’s where we are driving our growth from.
Unidentified Participant
Okay sir, thank you and all the best for coming.
Arun Aradhye
Yeah, thank you.
operator
Thank you. Harshin. We’ll take the next question from himanshu. Upadhya, please go ahead.
Unidentified Participant
Yeah. Hi, good afternoon.
Arun Aradhye
Hi, how are you?
Unidentified Participant
I’m fine, sir. So one question was in the brakes business now where the aftermarket is quite large. Okay. And we have been or we started with aftermarkets business but and domestic. If we still see for the quarter it will it is less than 1 crore. Okay. So and initial thought was that aftermarket can be a sizable business over a period of time. So why is that business still or has not catch up that what we initially expected. Okay. And what are we doing to get the growth what we were estimating in the aftermarkets when we initially entered this business.
Arun Aradhye
Easy to initially enter into the market and create our brand image. So far as brake lining is concerned, we entered into aftermarket where there is a steep competition from Rane Sundaram etc ask. Firstly, there is steep competition so far as rates are concerned. And the settled market of all these people having very good reputation. Also who should admit that considering that we are focusing more and more on railways and OEM and exports. Merchant export what we feel. And gradually we are increasing our presence into the aftermarket as well. And we are yet to cover all the territories of India.
Some of the territories have remained to be still untapped. We are tapping them and eventually it will. We will be reaching the target that we are having in our market.
Aditya Menon
And aftermarket we are focusing, we are working on our aftermarket aftermarket team, our marketing team. And like Mr. Said, we are actually a lot of orders also from aftermarket. But what is happening as it is only aftermarket focus, money recovery and all is like, you know, it’s a operational issue. So we are strengthening our team working on a more robust business model. So that also should come in track in coming time.
Unidentified Participant
And one more thing. All aftermarket players who are distributing our bearings business. Okay. Are we present across all those players for break lining and brake segment?
Arun Aradhye
No, no. Those are totally different. Those are not the same.
Unidentified Participant
Okay.
Arun Aradhye
They’re not the same. And that’s why we are having an entirely separate creating separate team for aftermarket of brake lining. And that market is also different.
Aditya Menon
See engine parts is different. Like you know, it’s a different ball game and break parts of different ball game. Like when you go to a aftermarket place like you go to a dealer distributor, they do different parts. You know, not everyone does like you know, one distributor doesn’t do all the parts.
Arun Aradhye
But the only advantage is that people know minor.
Aditya Menon
We have a strong brand name in this field. So that is boosting this 1 crore growth. So without any extra marketing cost as such.
Unidentified Participant
So currently how many distributors would be there and any target over next two years this many distributors we want to have on the aftermarkets and brake lining.
Arun Aradhye
As of now we are having 35 distributors and our projection for the next year is almost 150.
Aditya Menon
But at like, you know, like you said, numbers every month we have a target of getting quality distributors. You know, there are some distributors who join and then they go after two, three months. So our focus is to have at least two or three distributors like confirm, you know, quality guys who do good work.
Arun Aradhye
Again there are problems such as recovery of our outstanding as well. That is an aftermarket. It is delayed to some extent about 90 days also. So we are locking such kind of customers distributors and that’s why temporary. There is a setback for this one or two months that will be again restored within a period of 11 month from now and that would be again. That will again pick up.
Unidentified Participant
And the exports seems to be doing much better in the aftermarket business means for breaks segment because the share has increased for the exports in the segment itself. Are these things settled down in terms of the payment terms and the distribution?
Arun Aradhye
So far as the export is concerned, there is no issue. No issue.
Aditya Menon
All that. All export payment is an advanced basis only. It’s not a issue as such. After 60 days we have law. So there are many orders, many distributors who still have orders. But as a management decision we have taken what is an informed decision to keep this a policy, you know, otherwise it’s a bad, bad practice as a company. You know, if once things start getting bad there are many, you know, it’s a vicious cycle. So as just to just to show growth. It’s not what we want, you know, we want sustained quality growth over the period of time.
So that’s why as company we have taken some such. Some policies. It might be harsh in the start, but we want like a sustainable growth. You know, we don’t want a just namesake group. If you understand like what we’re trying to tell.
Unidentified Participant
Yeah, I appreciate that. And that is the reason for which we appreciate the company and have been for pretty long period of time. One final question. The Eton Are we starting. Have we started supplying to Eaton or it is still some time away?
Aditya Menon
No, we have done the initial orders now is like if there’s a feedback batch called sample batch. So 300 sets we have gone. So it starts like that. So we have already started the process. So around 300 parts we are sending this month. So that Will go in trials and then the next order comes out. You know. So Ethan also is going ahead. Yes.
Unidentified Participant
And any capex plan for this year and next year means or what we have done we are think no major.
Arun Aradhye
Capex has such but only additional capacity. That we have to create the list. Like I told you that some of the machines will have to be added. And that will be to the extent of almost 8 to 10 cost of rupees per taker Considering both aluminium and biometric environment. So that is not a major next.
Aditya Menon
Two years we are already placing orders of machines. Like someone asked are you going to do more value addition? So if you invest in X ray machine the value addition increases. So we are exploring all these options how we can do more value addition also and around like. Mr. Around 8 crores of capex in the next two years. But that’s not like a major capex like. Like what we did in the last two years. Where we got the land, we have new building. All the. You know, permission, everything.
Arun Aradhye
Yes.
Unidentified Participant
Thank you. I appreciate your feedback. Our replies.
Arun Aradhye
Thank you.
operator
Thank you. We’ll take the next question from Kunal Tokas. Please go ahead. Yes. Okay.
Unidentified Participant
Questions first is will you not be needing any additional Capex on the brakes division to reach the 100 crore target by next year.
Arun Aradhye
For breaks we will have to add certain machines. Definitely we will have to add about that will be capex of our 7 to 8 crores. That will be additional requirement and that we can have from the next year.
Unidentified Participant
78 crore. And what and what amount have you already invested in this business?
Arun Aradhye
It is already. It is 8.5 crores. We already.
Aditya Menon
Machinery. Machinery. All the equipment.
Unidentified Participant
Yeah. Did you say 18.5 or 88.5?
Aditya Menon
8.5 A 8.5.
Unidentified Participant
And another clarification for FY27 your target top line is 350 of which 120 from ALOP. 100 from brains. Rightly 130 for B.
Arun Aradhye
It is 120 from ALOPEC. Biometric will be almost 250.20 from alcohol.
Unidentified Participant
250 from biomechanical and 100 from breakup.
Arun Aradhye
Right?
Unidentified Participant
Okay.
Arun Aradhye
Okay.
Unidentified Participant
And just the last question. Will your foray into supplying to EVS be a gateway to do more business? In the previous segment.
Arun Aradhye
We could not get you. Please repeat.
Unidentified Participant
A few years ago you used to say that you would not enter the PV segment. You restrict yourself to the CV segment, right? But you’re now keeping to evs.
Aditya Menon
EV as mean like the is not bi metal.
Arun Aradhye
We are not going with Passenger vehicle in aluminum division. RC.
Aditya Menon
Passenger vehicles not in aluminum. We are not doing engine, we are doing oil and pipe, gas, land, two wheelers, tractors, trucks. Wherever aluminum is used, we are. If we are getting the right product, it’s critical. Good value, value addition is there. We are developing those parts not in biometric, not including ev. So aluminum we have potential. So like I told you, Tata Punch, we are doing some electric aluminum casing. So if there is opportunity there, we are doing it. Because if you’re getting good rate, good price, good quantity, good volume. But I mean BI Metal, our parent plant, we’re not entering this segment now because the business is diversified.
We are even. What do you say? Attracted to EV as such.
Unidentified Participant
All right, got it. Thank you and have a good day.
Arun Aradhye
Yeah. Thank you.
operator
Thank you, Kunal. Anybody who wishes to ask a question, please use the option of raise hand. Sir, since there are no further questions, would you like to give any closing comments?
Arun Aradhye
So thank you very much everybody who have participated in this conference call. We cordially invite in the next month. Please inform us in advance so that we can arrange a factory visit of new alcohol plant as well as our new washer plant also. So these are of international standard plans, you can see and we will be enjoying the visit to our facilities. You are kindly requested to come and let Mr. Mohsin know when he will be coming and visiting our facilities. You are welcome and thank you for your support as always.
operator
Thank you sir. And thank you to all the participants for joining on this call. This brings us to the end of this conference call. You give me all log off now. Thank you.
Arun Aradhye
Thank you very much.
Unidentified Participant
Thank you sir. The recording has stopped.