Pricol Limited (NSE: PRICOLLTD) Q1 2026 Earnings Call dated Aug. 01, 2025
Corporate Participants:
Unidentified Speaker
Purvangi Jain — Moderator
Ganesh — Chief Executive Officer & Executive Director
Siddharth Manoharan — Director – Strategy
Analysts:
Unidentified Participant
Vijay Pandey — Analyst
Rahul Deshmukh — Analyst
Khush Nahar — Analyst
Shubham Batra — Analyst
Vipul Kumar Shah — Analyst
Mitul Shah — Analyst
Smit Shah — Analyst
Presentation:
operator
Ladies and gentlemen, good day and welcome to the Q1FY26 conference call of. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star followed by zero on your touchtone phone. Please note that this conference is being recorded at this time. I would like to hand over the conference to Ms. Purvangi Jain from Veloram Advisor. Thank you. And over to you Ma’. Am.
Purvangi Jain — Moderator
Good evening everyone and a warm welcome to you all. My name is Parvangi Chen from Alarm Advisors. We represent the investor relations of Prickol Limited on behalf of the company, I would like to thank you all for participating in the company’s earnings call for the first quarter of the financial year 2026. Before we begin, let me mention a short cautionary statement. Some of the statements made in today’s concord may be forward looking in nature. Such forward looking statements are subject to risks and uncertainties which could cause actual results to differ from those anticipated. Such statements are based on management’s belief as well as assumptions made by and information currently available to the management.
Audiences are cautioned not to place any undue reliance on these forward looking statements in making any investment decisions. The purpose of today’s earnings call is purely to educate and bring awareness about the company’s fundamental business and financial quarter under review. Now let me introduce you to the management participating with us in today’s earnings call and hand it over to them for their opening remarks. We have with us Mr. P.m. ganesh, Chief Executive Officer and Executive Director Mr. Siddharth Manoharan, Director of Strategy and Mr. Priya Darsi Bastia, Chief Financial Officer. Without any delay, I request Mr.
PM Ganesh to start with his opening remarks. Thank you. And over to you sir.
Ganesh — Chief Executive Officer & Executive Director
Hello. Good evening to all of you and very nice to connect with you once again. I’m sure that we had a chance go through the upload of whatever we have done in the stock exchange and welcome to the Q1 of FY26 financial performance segura. I will go to the financial performance starting with the revenue from operation. It has stood at 877.66 crores with an EBITDA of 101.8 with an EBITDA margin of 11.61%. The PAC stood at 49.89 crores with a PAC margin of 5.68. EPS has gone up at INR 4.09. Our consolidated long term borrowing is as of Q1 at 1097.19 million.
Coming to the growth percentages, revenue from operations has been at a healthy 45.57%. The EBITDA stood at 26.30% in terms of its growth cash profit was at 23.87 and profit was at 9.51%. Thank you again once again and over to you ma’ am for the Q and A.
Questions and Answers:
operator
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press Star and one on their touch tone telephone. If you wish to remove yourself from the question queue you may press star and 2. Participants are requested to use handsets while asking a question. Ladies and gentlemen will wait for a moment while the question queue assembles. The first question is from the line of Vijay Pandey from Nirvama. Please go ahead.
Vijay Pandey
Hi sir, thank you for taking my question. I wanted to check if you can give a breakup of what was the sales and what was the EBITDA margin for the record precision company. That is my first question. And secondly just want if you can give us an update about the employee expenses. In fourth quarter it went up as a percentage of sales. I just wanted to check. And you. I think the company stated that it will come down to normal levels within two to three quarters. So are you still see that to be the case or is there going to be a difference by probably a. Quarter or something like that? These will be the two questions from my side.
Siddharth Manoharan
Good evening Mr. Pandey. Thank you for your question on the first part. Let me answer. This is Siddharth here. We have blocked a turnover of close to 205 crores as document for the first quarter in Precol Precision Products Private Limited P3 with an EBITDA of close to 7%.
Vijay Pandey
Okay.
Ganesh
Employee cost percentage. The employee cost percentage was at around 12%. And as we have been telling in the previous earning call we are making some forward looking recruitments primarily for many of our new projects which are going to be launched in the next couple of years.
Vijay Pandey
Okay. And just one more sir, just want to check what is your view on the ABS regulation that is going to come up? The disc brake which we are making that should see an incremental growth from next year because of the EBIT or how should we look into it?
Ganesh
Absolutely. I think this is going to be a high potential area for growth and disc brake we have launched since Q2 of this year just starting this month. Rather we have already supplied to few of the startup EVs and the disc brake system has come out very well. As you rightly said, the ABS regulation is becoming mandatory from January 2026 even starting with the 100cc tube wheelers. It means that the disc brake would be mandatory for all the ABS which are going to be used. This gives us a lot of opportunity in terms of growth which we are seeing in the next couple of years.
Also one of our strategic two wheeler customer, our main tray customer, we are going to start the productionization from Q4 of this financial year.
Vijay Pandey
Okay. Okay.
operator
But I request you to come back for the follow up question.
Vijay Pandey
Okay? Okay.
operator
Thank you so much. The next question is from the line of Rahul Deshmukh from LKB Securities. Please go ahead.
Rahul Deshmukh
Am I audible? Hello.
operator
Yes sir. Yes.
Rahul Deshmukh
So thanks for the opportunity and congratulations on good set of numbers. So I have a couple of questions. My first question is that I just wanted to you know, get kind of some kind of sense on coming quarters as a couple of EV launches are scheduled within next 2, 3 quarters. Although there is slowdown in entry PV but ACV export and tractories are very performing really well. So considering the tax cut, monsoon and you know it pay commission. So we expected to improve the demand in TV as well as in two wheelers. So how do you see revenue mix evolving and what kind of growth are we expecting in short to medium term?
Ganesh
Thank you for the question. Q1 has been a muted quarter in terms of the OEM vehicle sales. As you would have seen the two wheeler has just grown by 1%. That is primarily because you would have heard in the media about the shortage of Rarath Magnet. Primarily due to the restriction of Rarath Magnet from China. It had headwinds during Q1 and we expect the headwinds to continue in Q2. Also there have been uncertainties in the market in terms of the model mix change with the various OEMs. Pricol has put a good amount of resilience in terms of meeting those changing conditions.
And despite the market being muted during Q1, Prickol has shown a double digit growth as you can see. Q2 also we expect headwinds at from the OEM in terms of model mix changes and primarily we are countering the rare earth magnet shortage through multiple ways of de risking. We expect that yes there are going to be certain uncertainties in Q2 before the there are permanent solutions found for the LARAS magnet. I’m sure that Q3 onwards you will find a much more stable revival of the two wheeler production and thereupon till Q4. So that is where we see but primarily Prickol, as you could have seen in the presentation, has also launched a number of new products which has supported us to beat the market growth.
And that is where we are today and we expect a steady growth to happen though these headwinds are something which is not in our complete control.
Rahul Deshmukh
Thank you sir. And my second question is that you know, how do you see margins evolving for the coming quarter as soon as migration is done and content per vehicle is I think also expected to increase over coming quarters, supported by a new product category just you mentioned and increasing content per vehicle. So how do you see margins over next 2, 3/4?
Ganesh
So actually that would be a little difficult for us to predict at this point of time. But you would have seen the tune margins. We hope that we should be in a position to be around that margin. But again as I told you, there are unpredictable conditions because of the rare earth magnet. We have to wait and see. But we are putting up a good, what they call plan B so that we are able to be around the EBITDA margins. Whatever we have done during Q1.
Rahul Deshmukh
Any margin outlook for the Sundaram specifically 3 +.
Siddharth Manoharan
Mr. Deshmukh, good evening. To further qualify specifically on the Precol Precision Products Private Limited Again earlier I just answered to Mr. Pandey’s question that what we have clocked in terms of EBITDA Pro Q1, as you are all aware we have been successfully integrating the organization. A lot of one time calls that were involved which also help to make the data at the levels what it stood for Q1. But we have put together comprehensive profitability improvement plan which is all starting to see results as we speak. And we are Quite confident from Q2 onwards the initiatives that we have put in place will yield better results and take us to good heights.
And we are also seeing a good amount of leverage after integration by looking at the customer concentration of Precon Limited and thereby leveraging larger business for preconstruction products as well.
Rahul Deshmukh
Okay. And sir, have you added any new clients for the Sundaram?
Siddharth Manoharan
We are in the process of like leveraging Brickall’s larger ecosystem of client for our strategic customers which will yield results in upcoming quarters.
Rahul Deshmukh
Okay, thank you. Thanks.
operator
Thank you. Ladies and gentlemen, please limit the two questions for participants and rejoin the queue for the follow up question. The next question is from the line of Kushnahar from Electrum pms. Please go ahead.
Khush Nahar
Yeah, hi sir, thank you for the opportunity. So Some couple of questions from my side. 1 Because of this ABS regulation could you quantify in terms of the total addressed market that would open up for pre coal and when can. Because I think previous target was around 300 crores is what we could do from the capacities that we have. So because of the regulation one do we have, do we want to increase this capacity and two what can be the larger picture in this segment? Secondly, because of this magnet issue which will persist in Q2 also are we still confident because of the product launches? I mean previously we have guided for 11 to 13% growth in the pre coal business.
These two questions push.
Ganesh
Thank you for your question. First I will answer the first one. This break actually has been in the incubation stage and it has just got launched into the market and as I told that end of this financial year in Q4 we are going to start the mass production for one of our major strategic two wheeler customer. Having said that with the ABS regulation the market is going to be very supportive in terms of the display growth. To quantify that how it is going to ramp up would be little early for us. Maybe during Q4 maybe we will be in a much better position to tell you how the ramp up is going to happen.
This is the update on Disk Break. Second question was on the yes on the rare earth magnet. Yes, the headwinds and uncertainties are going to continue in Q2 as well. As we explained it is something that we have to wait and watch because yes, something that uncertainty is beyond our control. But as we explained Prickol is putting up very very good alternate plans to see how we can mitigate this risk.
Khush Nahar
Right. So we are confident on the 11 to 13% that we will be able to achieve in FY20.
Ganesh
I will not be in a position to attribute any number to this but what we can tell is we are working constantly on number of alternate plans to mitigate this.
Khush Nahar
One follow up on the abs. So how do we see the competitive landscape in that segment?
Ganesh
There are a number of mature players in the market but it is going to open up lot of opportunity for new players like Brickor because the mandatory regulation is going to be there. It is going to open up lot of avenues in terms of growth for even new players like Prickor. I think the growth is going to be good in the next two years.
Khush Nahar
Thank you.
Ganesh
Thank you. Thank you.
operator
Thank you. Before we take the next question I would like to remind the participants if you wish to ask a question you may press star and one on the touch tone telephone. The Next question is from the line of Shubham Batra from Ambit amc. Please go ahead.
Shubham Batra
Hi sir, thanks for taking my question. Congratulations on a good set of numbers. Could you throw some light on the technology license agreement that we have done with the Italy based layer? What kind of a market size are we looking at and what are the timelines of, you know, when we can see revenue coming on from this buyer?
Siddharth Manoharan
Hello. Good evening Mr. Batra. We have signed a technology license agreement with an Italian firm called Domino for control systems primarily on two wheeler handlebar components such as switches, throttles, levers, etc. This is an exclusive arrangement for Indian and Southeast Asian markets. And this is also being done primarily on behalf of the customer confidence that they had in Prickor. And we are quite confident to start seeing some revenues 12 to 16 months from here on.
Shubham Batra
Is this a case of import substitution or are there currently players also doing this in market?
Siddharth Manoharan
There are a couple of competitors but we also see a space for us to enter into and customer also some of the customers have spoken to us and asked us to get into this space. That’s how we formed this partnership and we are quite confident to create a niche for Brickall in this marketplace.
Shubham Batra
Sure. Got it. One last follow up. What kind of content per vehicle will be looking at when we are supplying the whole handlebar along with the bis?
Siddharth Manoharan
It will be too early for us. To comment on or give any numbers at this point in time, Mr. Bacha. So maybe we’ll park it for now and we’ll give you better guidance in couple of quarters.
Shubham Batra
Thank you.
operator
Thank you. The next question is from the line of Rahul Deshmukh from LKP Securities Ltd. Please go ahead.
Rahul Deshmukh
Yes sir. Just a bookkeeping question. So could you please help me with segment wise breakup. Like how much contribution Was there from two wheelers?
Ganesh
About 65% of our revenue comes from the two wheeler segment. I’m giving you a rough estimate. It could be varying here and there but as a standalone about 65% comes from the two wheeler segment. About 10% comes from the personal passenger vehicle segment. About 15% comes from the commercial vehicle segment. And about 10% comes from the off road vehicle and tractors. This is the broad breakup of the hundred percent.
Rahul Deshmukh
Okay, thank you.
operator
Thank you. The next question is from the line of Saurabh Kuchb from Reliance General Insurance. Please go ahead.
Unidentified Participant
Yes, thank you for taking my question sir. I wanted to get a sense about the new product launches that we are having for the likes of smart cockpit or battery management system. So I just wanted to know what is, what could be the, you know, market size for these products and what would be the margins in this upcoming new products look like.
Ganesh
Saurav, thank you for this question. It’s little early for us to predict in terms of the margins and the market size. As we explained during the previous earning call, E Cockpit and BMS are currently developed and it is at testing at various customer places. It is going to take another couple of quarters before we could come. In terms of what is going to be the growth plan and strategy for OT Cockpit and bml, please bear with us for another couple of quarters before we could come and explain to you more about the growth. But as we speak, the development has been completed and it is under testing at various customers.
Unidentified Participant
Okay. Okay, sir, thank you.
operator
Thank you. The next question is from the line of seven, an individual investor. Please go ahead.
Unidentified Participant
Yeah, hello. Am I audible?
Ganesh
Yes sir.
Unidentified Participant
What is the revenue from passenger vehicles. In driver information systems?
Ganesh
As I told you, about 10% of our revenue came from the personal passenger vehicle and most of it are from. The driver information system.
Unidentified Participant
Okay, so how do you expect this to scale up in a couple of years? Especially passenger vehicles in EIS segment?
Ganesh
It’s difficult for us to pick a number on this. But we are actively working with the OEMs in terms of the new product. And one of the things like the previous caller mentioned on the E Cockpit as well, we are working with a few key OEMs. The growth in terms of numbers would be difficult for us at this point of time. But we have seen a good growth in the purple passenger vehicle in the future years to come.
Unidentified Participant
Okay, thanks. That’s it.
operator
Thank you. The next question is from the line of Vipul Kumar from Sumangal Investment. Please go ahead.
Vipul Kumar Shah
Hi sir. So my question is when the margins from this acquired entity, this recall precision products will converge to the margin of Precol Limited over what time frame?
Siddharth Manoharan
See, it is going to be quite difficult for us to talk when this convergence will happen because Precol Precision product has got lot of growth potential number one. And second thing is we are going into more of engineered plastic, precision plastic. We have got, we have started developing a road map in terms of EBITDA improvement. Maybe we will see that the growth in terms of both top line and EBITDA will continue to improve. But if you ask us when it is going to have a meeting point, we are not very sure whether we are absolutely clear on the timeline of this.
Vipul Kumar Shah
So after two to three years, where do you see the margin of precision Product entity.
Siddharth Manoharan
It is difficult for us to anticipate what is going to be the margin because we have just commenced our operations a quarter back and there are a number of programs actually which have been encouraged by the customers in terms of its top line. So we have to just wait and see. We are putting a lot of efforts in terms of both its top line and then the cost saving measures.
Vipul Kumar Shah
And lastly sir, this ABS regulation so the business which will be flowing due to that, that will be mainly through this entity or recall has also products for that regulation.
Siddharth Manoharan
So Disk Break is a part of pre call on recall precision. So that is what we were explaining that we are going to see a good growth in the next couple of years primarily because of startup regulation from January 2026.
Vipul Kumar Shah
Okay sir, thank you and all the best.
operator
Thank you. The next question is from the line of Mithul from Dam Capital. Please go ahead.
Mitul Shah
Thank you for the opportunity. Sir, I have two questions considering the current geopolitical issues and various global challenges. First one is ongoing US tariff related challenge in terms of the major slowdown in the global auto market and also to some extent impacting the Indian audience also are we facing any impact of that directly or maybe indirectly in terms of the discussion with the OEMs in over next one or two quarter of our dispatches.
Ganesh
As of now we have not seen any uncertainty because of that because I think the US tariffs have not been firmed up. As you know that there are several different information in the last two to three months and it is keeping on extending. So at this point of time we do not see any uncertainties in terms of our product getting affected because of tariffs to the US market.
Mitul Shah
And any impact on any of the future export strategy. We are doing any change based on that or nothing to do with it.
Siddharth Manoharan
We are not foreseeing at this point of time. But we have to wait and see how this tariff things are going to turn out. But as of now, no, there is no effect because of that.
Mitul Shah
Second question on this procurement of raw material or few components from the China. As we have seen the issue for Rare earth. Anything similar we are finding not like complete restriction but any challenges in terms of the supply from China for any of the parts whether electronics or TFT and are we going or looking out for similar alternate sources also as a strategy of mitigating that risk of depending on one source?
Ganesh
Sure. See we have mitigated most of the products which we were buying from China way back in 2020. Remember during the COVID crisis many of the tier one companies including Prickol put lot of plans to mitigate this risk. And we have been quite successful on that. But there are certain products like displays where China is the largest source of manufacturer in the entire world. Not only to the automotive, they supply to the consumers electronics also. But this is something that Brickall already has started. Good initiative in terms of backward integration and localization to a good extent.
Our target is that in the next four quarters we should be in a position to start some kind of backward integration of localization of the displays. Though not fully. We will have a good initiative in terms of backward integration. But if you ask me Whether you can 100% DE risk China, maybe the answer is no at this point of time.
Mitul Shah
Understood, sir. Thanks and all the best.
Ganesh
Thank you.
operator
Thank you. The next question is from the line of Vijay Pandey from Nuama. Please go ahead.
Vijay Pandey
Thanks for the follow up. I just wanted to check should we expect the recall precision to reach around 8 or more than 8% margin this year in FY26 and if not, probably next year. You can just help us build out how we should look into it. And secondly, there are many players entering into the plastic modeling business. Like there are a lot of acquisitions happening. The other players, other competitors also doing. So what is how should we see that we will be able to turn around this business in terms of the volume growth like it’s mainly with TVS group as of now.
This is obviously so how we are going to convert like Bajaj Auto or Hero or any other OEM for that matter. Just you can give a guidance on both of these. That will be very helpful.
Siddharth Manoharan
Thank you, Mr. Pate. So in terms of opportunities and synergies, as I mentioned earlier, as you rightly know, erstwhile also I would like to highlight it is not any turnarounds. The company itself quite healthy in terms of the growth potential what it was seeing over the past couple of years. But after Prickol’s takeover, a lot more synergies opening up for us considering a larger pool of customer portfolio.
operator
So sorry to interrupt, but your voice, your audio is little bit distant. Can you come closer?
Siddharth Manoharan
Can you hear me now? Is it better?
operator
Yes, sir.
Siddharth Manoharan
Yeah. So what I was saying is, as Mr. Pandey was saying, the company was tremendously dependent on the TBS and had the restrictions also to reach out to other customers being part of the TVS umbrella. But with Recall taking over, we see a lot of opportunities with our strategic customers. And a lot of them have already started reaching out to us, started floating RFQs. So we see A good growth potential in the upcoming years for that particular division with our current set of customers itself. And secondly, we are also working on to become add more value added products to the portfolio, moving up the value chain.
Thereby the margins are also steadily improving. And we’ve also put in place a lot of performance improvement plan and efficiency improvement plans which is yielding results in terms of increasing our bottom line. And we’re quite confident this year we’ll be achieving comfortably a healthy single digit EBITDA and at a consolidated level to maintain the EBITDA update for the organization overall.
Vijay Pandey
Okay. Okay, thank you.
operator
Thank you. The next question is from the line of Kushnahar from. Please go ahead.
Khush Nahar
Yeah, thank you for the opportunity again. First question was could you tell us in terms of Capex, what is the amount that you’re planning to spend over the next three years on a consolidated company level and what is the capacity utilization in prequal precision products?
Ganesh
Hi Khus, in next three years we. Will be spending somewhere around 500 crores of capital on a consolidated level and capacity existing is something like the company can scale up for another 2022% further revenue with the existing capacities. Thank you.
Khush Nahar
Thank you.
operator
Thank you. Next question is from the line of Mithsha from Monarch Network Capital Ltd. Please go ahead.
Smit Shah
Hi sir, I’m audible.
Unidentified Speaker
Yeah, yes please. Yeah.
Smit Shah
Congratulations on a good set of numbers. I want to know about the segments apart from two wheelers. Is it, is it safe to assume that they are largely growing with the industry and the bulk of the outperformance. Comes from the premiumization? The two wheeler.
Ganesh
You are asking about the industry or prickol has been growing in all segments of market. As I mentioned though in Q1 there was a muted growth across the segments. In fact the whole industry has grown in totality about less than 2%. We have outperformed the market in all segments of the market. Not only in two wheeler but in commercial vehicle, in passenger cars, in construction equipment and tractors as well. So that is the reason we are able to show a double digit growth. And if you see our presentation which has been uploaded you can see a number of new product launches which has happened across the segments of the market.
Smit Shah
Okay. Okay. So my next question is on what was the revenue number and EBITDA margin. Number for like to like last year first quarter.
Ganesh
Smith. Last year Q1 they were around 178 crores of top line and we see 5% of EBITDA.
Smit Shah
So it’s that I missed out on.
Ganesh
The EBITDA margin 5% around 5% of EBITDA last year 5%.
Smit Shah
Okay. Okay, thank you. Thank you sir.
operator
Thank you. The next question is from the line of Arvind R from Sundaram Alternate please go ahead.
Unidentified Participant
Yeah, thank you so much for the opportunity organization on the good set of numbers. So on DIA systems I want to understand one thing like you know, agent sequencity or. Or by year on year like you know, how. How much is. How much of the revenue growth is, you know, contributed by you know, volumes and how much should be by you know, asps. I mean like. Yeah, that is first thing I would like to understand. And with respect to gross margins, you know, sequentially it has come down a bit. Is it primarily because of the PPB business and Christian Products business or even in DA systems business we had some margin compression which was going on.
Ganesh
It would be very difficult for us to quantify in terms of the DAS. Margins, whatever. The combined margins is what you are already seeing on the performance. See the margins actually is little fluctuating but it will become alright primarily because of fluctuation in the dollar to rupee conversion. If you see that even two days back there has been a steep depreciation against the dollar and since we are import dependent there will be some what you call fluctuation in terms of the margins. But it gets regularized because 100% of our external factors like the raw metal forex are indexed back to back with the customer.
Unidentified Participant
Sure. Because of the question on what would be the impact of volumes on the revenue growth. And recall.
Ganesh
PRECON has been in the last few years having more value growth when compared to the volume growth. And this is expected to continue because of the premierization happening in the waiver information systems pace. And we expect this to continue for a few more years because a lot of conversion which are happening from the mechanical meters into more of electronics and thereupon into the high end electronics.
Unidentified Participant
No, I understand that’s like. I was just trying to understand, you know, is the volume growth in different.
operator
Sorry to interrupt. I request you to come back for the follow up question. Thank you. The next question is from the line of Rubin Purushait from Karma Capital. Please go ahead.
Unidentified Participant
Hi sir. Am I audible?
Ganesh
Yes please. Rubin please.
Unidentified Participant
Yeah, hi sir. I just want to get a sense with respect to the other segment that we have that is the actuation control and fluid management. So if you can just help us with how we see this segment growing apart from the aspect where you’ve already spoken about the brakes and it would just be a request if you all could also give revenue breakup for both the segments going forward if that would be possible.
Ganesh
In terms of revenue potential in the past and going future, we expect a good growth in the actuation control and fluid management system we call that acquisition and the good portion of it is the export content of this segment is quite encouraging. We supply both to the Europe and Europe and the US market primarily into many of the marquee customers like Caterpillar, Harley Davidson, Polaris, Generac, Kohler. We have got a number of customers with whom we export our ACFMS products to US and Europe. So we expect a good growth potential in this area. Another key segment where we have been constantly growing in this area is our fuel pump.
Primarily we started in a small manner in 2020 for the two wheeler. Today we supply to many of the two wheelers in the country and also extend export the fuel pump to various countries. So going forward we see the momentum to continue breakup. It varies a lot actually between the driver information system and the SEF primary because of the customer and model mix change. So it will be very difficult for me to give a percentage on that.
Unidentified Participant
Right sir, like for example in the past you have said that 13 to 15% growth recall is what is expected from the parent company. So just wanted to sense as to how much we are seeing growth with respect to the acfms side apart from the dic. So that is where actually I was coming from.
Ganesh
Actually ACFMs have been growing steadily. You can see that whatever quarter on quarter performance we have been showing there has been equal growth between the driver information system and the acfms. And whatever growth we see in the future also I think it is going to be a very balancing act. It is not that one segment is going to grow and another division is not going to grow. It is equally growing at both sides.
Unidentified Participant
And sir, if you can just help me out if possible for the segmental.
operator
Sorry to interrupt. I request you to come back for the follow up question.
Unidentified Participant
Sure.
operator
Thank you so much. The next question is from the line of Saurabh Kachava from Reliance General Insurance. Please go ahead.
Unidentified Participant
Sir. As I see, as I can see in your PPT your revenue has grown by 45%. I just wanted to understand that how the growth percentage in terms of the segment like how much has the growth come from 2 Wheeler, 4 Wheeler CVs Etc.
Ganesh
I think your voice has been little not clear. You are asking about the growth in terms of revenue, right?
Unidentified Participant
Revenue growth in terms of segments like two wheelers, four wheelers, CVs and etc.
Ganesh
Actually as a percentage of our sales mix. I just explained about the sales mix. But in terms of the total growth, actually as I said, we have outperformed the market. The market has grown only by less than 2% on a consolidated basis. That is two wheeler, commercial vehicle, personal passenger vehicle all put together. The market has grown less than 2% whereas recall has grown more than 10%. So many of the products are also common across the segment. So it’d be very difficult for us to separate out segments and say which of the segments of our products have been what you call contributing.
But overall as a blended growth you would have seen that we have grown by a healthy double digit.
Unidentified Participant
And sir, what would be the geography mix for this quarter? Geography mix for this quarter. What was the percentage of exports and domestic sales?
Ganesh
Okay, okay. Our export is about 7 to 8% and the remaining comes from the domestic market.
Unidentified Participant
Do we see the export number increasing going forward?
Ganesh
Yes, we do. See as I explained that there are good opportunities that currently we are working with multiple customers both in the US and Europe market.
Unidentified Participant
Okay. Thank you sir.
operator
Thank you. The next question is from the line of Arvind R from Sundaram alternates please go ahead.
Unidentified Participant
Yes, this is one follow up question. So on da system restricted, you know, is the volume growth of vehicles better than the industry and do we think it will continue to be the case for subsequent quarters or.
Ganesh
Yeah, we have been in a good growth momentum in terms of both volume. And value in the driver information system. And the ACFMS vertical. We expect that this growth momentum should continue.
Unidentified Participant
Okay. Better than the industry should continue in the medium term. Also in terms of volumes in the.
Ganesh
Past quarters we have been outperforming the market on a steady state. We are hopeful that we will continue the same trend.
Unidentified Participant
Sure.
Ganesh
Thank you.
operator
Thank you. The next question is from the line of Manish and individual investor. Please go ahead.
Unidentified Participant
Yeah, thank you for the opportunity. My first question is regarding the capex. So you have mentioned that we’ll be doing 500 crore across three years. So wanted to know the bifurcation here. So how much for the pre call. Precision handle by foray and for the standalone business?
Siddharth Manoharan
Yeah, Manish out of this 500 crores of capex like 250 to 300 crores will be for precaution. Pre season and balance will be for precautionary.
Unidentified Participant
Okay. My second question would be regarding the. Top three customers and their corresponding revenue shares. If you could share that.
Ganesh
See the top three customers are primarily the order of manufacturing. You see that Two wheeler is the largest market in India where close to 2/3 of the volume of Indian automotive is produced from the two wheeler. So is our customers also in the order of the two wheeler? Primarily the top three comes from the two wheeler followed by the personal passenger. Vehicle and the commercial vehicle. So we exactly follow the pattern of vehicle manufactured in India. That is why we are not segment dependent. We are across all segments of the market.
Unidentified Participant
Yeah, I just wanted to know the. Names of the customers.
Ganesh
That would be difficult. Because of the confidentiality that we have with each of the customers. It will be difficult for us to give the breakup.
Unidentified Participant
Okay, no problem. Thank you. Thank you so much.
operator
Thank you. As there are no further questions, I would now like to hand the conference over to the management for closing comments.
Ganesh
Thank you so much again, once again for the participation. Good evening to all of you. So see you soon during the Q3 earnings call of FY26. Q2. I’m sorry, Q2 earnings call of FY26. Thank you so much.
operator
On behalf of Pre Qual Limited and Velorem Advisors. That concludes this conference. Thank you for joining us. And you may now disconnect your lines.