{"id":176659,"date":"2026-01-22T14:25:16","date_gmt":"2026-01-22T19:25:16","guid":{"rendered":"https:\/\/alphastreet.com\/india\/ppap-automotive-ltd-ppap-q2-2025-earnings-call-transcript\/"},"modified":"2026-01-22T14:25:16","modified_gmt":"2026-01-22T19:25:16","slug":"ppap-automotive-ltd-ppap-q2-2025-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/ppap-automotive-ltd-ppap-q2-2025-earnings-call-transcript\/","title":{"rendered":"PPAP Automotive Ltd (PPAP) Q2 2025 Earnings Call Transcript"},"content":{"rendered":"

PPAP Automotive Ltd (NSE: PPAP) Q2 2025 Earnings Call dated Nov. 14, 2025<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Abhishek Jain<\/strong> \u2014 Chief Executive Officer and Managing Director<\/em><\/p>\n

Analysts:<\/h2>\n

Dhruv Rawani<\/strong> \u2014 Analyst<\/em><\/p>\n

Vijay Pandi<\/strong> \u2014 Analyst<\/em><\/p>\n

Jigar Shah<\/strong> \u2014 Analyst<\/em><\/p>\n

Raj Mehta<\/strong> \u2014 Analyst<\/em><\/p>\n

Jimmy Shah<\/strong> \u2014 Analyst<\/em><\/p>\n

Kaushal Shroff<\/strong> \u2014 Analyst<\/em><\/p>\n

Presentation:<\/h2>\n

operator<\/strong><\/p>\n

Ladies and Gentlemen, good day and welcome to The PPAP Automotive Limited’s earnings conference call for Q2 and H1FY26. This conference call may contain forward looking statements about the company which are based on the beliefs, opinions and expectations of the company as on the date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are discussed.<\/p>\n

operator<\/strong><\/p>\n

Foreign.<\/p>\n

operator<\/strong><\/p>\n

Ladies and gentlemen, good day and welcome to The PPAP Automotive Limited’s earnings conference call for Q2 and H1FY26. This conference call may contain forward looking statements about the company which are based on the beliefs, opinions and expectations of the company and as on the date of this call, these statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. 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 then zero on your Touchstone phone.<\/p>\n

Please note that this conference is being recorded. I now hand the conference over to Mr. Abhishek Jain, Managing Director and CEO of PPAP Automotive Limited. Thank you. And over to you sir.<\/p>\n

Abhishek Jain<\/strong> \u2014 Chief Executive Officer and Managing Director<\/em><\/p>\n

Thank you very much Bhumika and good afternoon to everyone. I extend a very warm welcome to all the participants joining us on this call. I am joined today by Mr. Sachin Jain, our CFO and with our Investor Relations advisor Strategic Growth Advisors. Our earnings presentation has been uploaded on our website and on the stock exchanges and I hope everybody has had a chance to go through the same. Before we move to the detailed performance, I would like to begin with a brief overview of the industry landscape during the quarter and then take you through the key highlights of our operational and financial performance for quarter two and the first half of financial year 26.<\/p>\n

The Indian automobile industry remained subdued through most of quarter two with a gradual recovery visible only towards the end of the quarter. Demand remained uneven across segments impacted by the shifting of OEM production schedules, high inventory levels and cautious retail sentiment in the early part of the quarter and also because of the proposed GST reforms which were slated to be introduced by the end of September. Passenger vehicle sales remained slightly lower year on year two Wheelers witnessed moderate growth driven by rural demand and better affordability while three wheeler and commercial vehicles continue to see healthy traction particularly from exports and freight movement.<\/p>\n

Against this muted backdrop, our consolidated revenue from operations stood at 253.6 crores in first half of financial year 26, down by 5.2% year on year basis primarily due to subdued offtake from key automotive customers and the shifting of the production startups for certain new programs which led to a temporary volume softness and delay in project ramp ups by key OELs. Capacity utilization in the part business stood at 65% in the first half of financial year 26 and the tool business capacity utilization stood at 85%. The lithium ion battery pack facility however operated at just 5% of the capacity utilization.<\/p>\n

Our consolidated EBITDA stood at 22 crores in the first half which is down 21.9% year on year primarily due to the lower utilization of assets leading to under absorption of fixed costs resulting from the decline in production volumes. At the consolidated PAT level we reported a loss of 2.3 crores for the first half. This was largely due to the lower operating leverage of the entire business and a loss of 2.1 crore attributed by the battery business itself as initial discussions with prospective marquee customers got delayed and will materialize in Q3 instead of Q2 leading to lower sales in quarter two.<\/p>\n

On the order book front, during the quarter we secured lifetime orders worth 621 crores taking the new order book inflow for the first half of financial year 26 to 707 crores which includes 16 crores from the EV programs. These wins reaffirm our growing capabilities in both ICE engine and electric vehicle segments. With these additions our lifetime order book now stands at 4171 crores providing long term revenue visibility. During the quarter we have also commenced supplies for new vehicles launched by our marquee customers in the market like Tata Altros, Maruti Victoris and Windfast VF6. These model start of supplies of these models will further diversify our offerings and strengthen our partnership with key OEMs.<\/p>\n

As we move into the second half of the year, the automotive industry outlook appears more positive supported by the festive demand, improving rural sentiment and the impact of GST 2.0 and monetary easing measures. With consumer confidence gradually improving, the sector is expected to witness a steady pickup in demand through the rest of the year. The improvement in capacity utilization levels due to startup of new projects like Tata Sierra, Reno, Dusta, Maruti, Sunki e Vitara is expected to improve the overall financial performance of the company. Our aftermarket business under the Elpis brand is continuing the growth momentum with 133 active distribution partners and a product offering of 1269 products.<\/p>\n

The business grew 37% year on year in quarter two. Going forward we will be increasing our product Offering in the areas of spare parts, service parts as well as accessories and improving our distribution outreach to continue our journey for growth. We are quite hopeful that this division will contribute about 10% of the consolidated revenues in the next two years. Our commercial tool room business under Meraki brand continues to build a robust order pipeline across both automotive and non automotive segments. This division has already received orders for 106 moulds till quarter two. The order book as on today is of 138 moulds worth 30 crores of rupees.<\/p>\n

This division is on track to achieve a growth of 20% plus this year. It is operating at a capacity utilization of 85% and is expected to continue the trend for the remaining of the year as well. For better governance as well as financial discipline. This division will start operating as an independent company by the name of Meraki Precision Tool Engineering Limited. From quarter four onwards, our industrial product division is leveraging the company’s core competencies in plastic and rubber extrusion technologies to diversify into non automotive applications. This year this division is expected to grow multifold compared to the previous year.<\/p>\n

Backed by strong traction from domestic as well as export markets. Our battery division under Avenya Batteries continues its engagement with marquee customers. As communicated in last quarter con call, we have developed the products and have completed the trial orders. However, due to certain delays in approvals, the sales could not be fully realized during the quarter two. However, we expect the sales situation to improve in the second half of this year and anticipate a reduction of losses going forward. In light of all these developments in various businesses and various divisions, we see a visibility of achieving a consolidated revenue for financial year 26 in the range of 575 to 600 crores, EBITDA in the range of 60 to 65 crores and PAT in the range of 10 to 12 crores.<\/p>\n

Friends, that’s all from my side. We will now open the floor for any questions that you may have. Bhubhumika, please moderate the question answer session please.<\/p>\n

Questions and Answers:<\/h2>\n

operator<\/strong><\/p>\n

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. If you wish to remove yourself from the question queue, you may press star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question comes from the line of Dhruv Rawani from Sriji Finzav. Please go ahead.<\/p>\n

Dhruv Rawani<\/strong><\/p>\n

Hi. My first question is when I talk about.<\/p>\n

operator<\/strong><\/p>\n

Sorry to interrupt you Mr. Dhruv but your voice is breaking. Can you please speak through handset?<\/p>\n

Dhruv Rawani<\/strong><\/p>\n

Hello.<\/p>\n

operator<\/strong><\/p>\n

Yes, hello.<\/p>\n

Dhruv Rawani<\/strong><\/p>\n

Is it better now?<\/p>\n

operator<\/strong><\/p>\n

Yes, it’s better. Thank you.<\/p>\n

Dhruv Rawani<\/strong><\/p>\n

So am I audible?<\/p>\n

operator<\/strong><\/p>\n

Yes, yes. Please go ahead.<\/p>\n

Dhruv Rawani<\/strong><\/p>\n

Yeah, my question was there are talks about an anti dumping duty on the PGC which is one of our key RMs. What is the strategy or how does the management feel? We will be able to mitigate that. As.<\/p>\n

Abhishek Jain<\/strong><\/p>\n

For the pvc, the government had already issued orders since last one and a half years for the compound side. And since then we have localized all the PVC materials which are used in the company. So even if they put anti dumping duty on it, our materials, what we buy are from the local market which are produced in India.<\/p>\n

Dhruv Rawani<\/strong><\/p>\n

Okay, thank you. My second question is with regards to the guidance and the overall, you know, the project share that industry is doing and you know talking about sales number. So what is the reason for the lower lowering of the guidance for this year?<\/p>\n

Abhishek Jain<\/strong><\/p>\n

Primarily is because of the battery business which we anticipated to do little better. But the sales are unfortunately not coming through. It’s not the pivot that we’ve done is working well for us. It’s just that when we are engaging with the marquee customers the approval process is getting slightly longer than we anticipated.<\/p>\n

Dhruv Rawani<\/strong><\/p>\n

And just a follow up on that battery division itself. What would it take for us to break even at least in the battery division. On the quarterly basis?<\/p>\n

Abhishek Jain<\/strong><\/p>\n

Yes, because you know we are running now.<\/p>\n

Abhishek Jain<\/strong><\/p>\n

Yeah. It is around 15 crores of the sales we need to generate to have a door at the operation level.<\/p>\n

Dhruv Rawani<\/strong><\/p>\n

Okay, thank you.<\/p>\n

operator<\/strong><\/p>\n

Thank you. The next question comes from the line of Vijay Pandi from Novama. Please go ahead.<\/p>\n

Vijay Pandi<\/strong><\/p>\n

Thank you for taking my question sir. A bit just I wanted to check like the industry production has increased in the first half of this year by around 4 to 5% post even all our customers have. Their numbers have come out to be pretty strong showing a decent production numbers. But then also our sales have declined. So what? Where is this mismatch coming? Are we losing some market share or some of the products that we had we are not able to supply? Like what is driving this decline versus industry growth?<\/p>\n

Abhishek Jain<\/strong><\/p>\n

The decline is primarily due to the the models which we have business for. Their numbers have come down. So we have high business with Honda, with MG Motor and one particular model of Tata which is called Curvy. So it is just a model impact. Maybe the entire OEM has done overall well with production numbers. But the models which we are present in they have had an impact of losing the production numbers and that is what has impacted us.<\/p>\n

Vijay Pandi<\/strong><\/p>\n

Are we expecting in the second half RB halves? Do we have some new model that where we are participating? Because if the old models are not doing well then that should continue even in the going forward. So where do we expect the growth to come from in the second half?<\/p>\n

Abhishek Jain<\/strong><\/p>\n

So that is what I said in the opening remarks as well. In the second half of this year we have three new projects which have stopped which are going to start. You must have heard about Maruti Suzuki e Vitara that was launched in quarter two. But the full production is going to start in quarter three. So that will improve our sales situation. Then the recent buzz in the market about Tata Sierra that is expected to start production this month, in November that will drive our sales. And in the next quarter, quarter four, you must have heard about Renault Duster being launched in the Indian market.<\/p>\n

So that we have business for. So these three models will primarily drive the growth going forward in the automotive space. And apart from this our aftermarket business is also continuing with growth. And in the industrial product division also we have to execute some export orders as well in quarter three and in quarter four. All these things put together, we anticipate that what this second half of the year will be much better for us compared to the first half.<\/p>\n

Vijay Pandi<\/strong><\/p>\n

Okay. Okay. That’s pretty good sir. That’s pretty good to hear. The order book of 7,621crores. So what is the timeline for when like it’s like two years, three years or when can we expect it to be completed?<\/p>\n

Abhishek Jain<\/strong><\/p>\n

So automotive side order book, any particular model that has a volume declaration of three to five years. Okay. Okay.<\/p>\n

Abhishek Jain<\/strong><\/p>\n

So whatever business we have received in quarter two, after we develop it and launch it, it will have a life cycle of somewhere between three to five years.<\/p>\n

Vijay Pandi<\/strong><\/p>\n

Okay, thank you.<\/p>\n

operator<\/strong><\/p>\n

Thank you. A reminder to all the participants that you may press Star and one to ask a question. The next question comes from the line of Jigar Shah from Elevate Research. Please go ahead.<\/p>\n

Jigar Shah<\/strong><\/p>\n

Hi sir, in our previous call I believe we are guided to achieve break even in our battery division. How are we progressing on the same and what is our current capacity utilization and how revenue trajectory shaping up for the coming quarters?<\/p>\n

Abhishek Jain<\/strong><\/p>\n

DK Jigarji, as I said in the opening remarks also and I explained in the last conference call also last year from two storage systems, battery pack solutions so that Pivot is doing well for us. It is just that the approval process for the in these marquee customers which we are dealing with now developing products for them, it is taking little bit of more time than anticipated. And for this first half the sales was quite low. But we anticipate much higher sales in the second half of this year. Guidance. Reduce. Primarily reduce. Primary reason is because of this battery division only.<\/p>\n

And that’s why. Yeah.<\/p>\n

operator<\/strong><\/p>\n

Yes sir, you can go ahead. Yes.<\/p>\n

Abhishek Jain<\/strong><\/p>\n

Hey, that’s why the break even discussion which happened in the last Concord also that is also getting delayed due to this reason due to the sales.<\/p>\n

Jigar Shah<\/strong><\/p>\n

Got it, Got it. Thank you for this answer, sir. My second question is that what are the key structural measures we are taking to enhance capital efficiency over the medium term?<\/p>\n

Jigar Shah<\/strong><\/p>\n

You mean for the utilization side?<\/p>\n

Abhishek Jain<\/strong><\/p>\n

Yes.<\/p>\n

Abhishek Jain<\/strong><\/p>\n

It is only. It is mainly a factor of sales only. So we. I mean all these new models which are getting. Getting launched which I just spoke about. So those will drive up the utilization levels in the oil in the automotive segment and the aftermarket and the industrial product business also. Like I was telling the previous caller, we have increased orders the second half of this year compared to the first half. And those will also contribute to the higher utilization of all the assets in the company.<\/p>\n

Jigar Shah<\/strong><\/p>\n

Got it. Thank you so much.<\/p>\n

operator<\/strong><\/p>\n

Thank you. The next question comes from the line of thru Rawani from Sriji Finzo. Please go ahead.<\/p>\n

Dhruv Rawani<\/strong><\/p>\n

Hello. I have two follow up questions. We had announced our tie up with Mahindra I think in the last quarter or. Anything on that part.<\/p>\n

operator<\/strong><\/p>\n

I’m sorry to interrupt you but your voice is breaking a lot. Can you please move to a better network area?<\/p>\n

Dhruv Rawani<\/strong><\/p>\n

Is it better now?<\/p>\n

operator<\/strong><\/p>\n

Yes, it’s better.<\/p>\n

Dhruv Rawani<\/strong><\/p>\n

Yeah. My question was with the Mahindra tie up, any developments on that front?<\/p>\n

Abhishek Jain<\/strong><\/p>\n

So we’re already started the development of the model which was awarded to us. And now they are. And now we are engaging with them for two new models. One model is in advanced stages of discussion now the other model, we are just starting up our discussions.<\/p>\n

Abhishek Jain<\/strong><\/p>\n

And with Maruti, which are the models where we are especially in the small car segment, highlight. In Maruti we are present across all the segments.<\/p>\n

Dhruv Rawani<\/strong><\/p>\n

Okay, fair enough. Thank you.<\/p>\n

operator<\/strong><\/p>\n

Thank you. The next question comes from the line of Raj Mehta, an investor. Please go ahead. Mr. Raj.<\/p>\n

Raj Mehta<\/strong><\/p>\n

Hello.<\/p>\n

operator<\/strong><\/p>\n

Yeah.<\/p>\n

Raj Mehta<\/strong><\/p>\n

Am I audible?<\/p>\n

operator<\/strong><\/p>\n

Yes, you’re audible.<\/p>\n

Raj Mehta<\/strong><\/p>\n

Yeah. So my first question is on the capacity utilization front. So in H1A capacity utilization was around 65 to 68%. So given the strong orders in hand, how you are looking at the utilizations level for H2?<\/p>\n

Abhishek Jain<\/strong><\/p>\n

Yeah. For the H2 we are expecting the utilization to be in somewhere into 75 to 80%.<\/p>\n

Raj Mehta<\/strong><\/p>\n

Okay. Okay. And my second question is that what is the, what is the internal target in terms of top line and profitability over the next three to five years? So if you can throw some light on how should we look at PPAP over medium to long term perspective.<\/p>\n

Abhishek Jain<\/strong><\/p>\n

So for the medium term we have already anticipated that our expectation to have that 10 to 14% kind of EBITDA margin. And on the top line we want to grow more than the market. So that is our expectation, especially in the automotive area. And because of the new area like avenue industrial product and the aftermarket division, we expect the multiple growth in next three to five years.<\/p>\n

Raj Mehta<\/strong><\/p>\n

Okay. Okay. Okay. Thank you so much sir and all the best.<\/p>\n

operator<\/strong><\/p>\n

Thank you. Next question comes from the line of Jimmy Shah, an investor. Please go ahead.<\/p>\n

Jimmy Shah<\/strong><\/p>\n

Hello sir. Am I audible?<\/p>\n

operator<\/strong><\/p>\n

Yes.<\/p>\n

Jimmy Shah<\/strong><\/p>\n

Yeah. So you have basically guided for an EBITDA of 60 to 65 crores. That means you need to do at least 20 crore EBITDA in each quarter from now. Is that possible?<\/p>\n

Abhishek Jain<\/strong><\/p>\n

Yeah.<\/p>\n

operator<\/strong><\/p>\n

As of now as we have shared already the revenue guidance and that specific capacity utilization. So based on that we are quite confident that we able to achieve that kind of.<\/p>\n

Jimmy Shah<\/strong><\/p>\n

You need to do almost 180, 190 crores top line in Q3 and Q4 both quarters. So is that possible given the current run rate?<\/p>\n

Abhishek Jain<\/strong><\/p>\n

Yeah, based on the current rate we are expecting to achieve the the top line guidance of 575 to 5, 600 crores for the on the consumer basis.<\/p>\n

Jimmy Shah<\/strong><\/p>\n

Okay. And EBITDA guidance.<\/p>\n

Abhishek Jain<\/strong><\/p>\n

Yeah, because certain new model are also coming up and there is a volum and some of the new models which were launched in Q2. So we are quite hopeful for that.<\/p>\n

Jimmy Shah<\/strong><\/p>\n

So almost half part of the Q3 is already done today. So you think that the run rate is possible? 170,180crores in Q3.<\/p>\n

Abhishek Jain<\/strong><\/p>\n

It will depend because the the customer has given the volume ramp up plan. So some will flow in the Q3 and some will flow into the Q4. And we are also having some tooling sales which is lined up in Q3 and Q4.<\/p>\n

Jimmy Shah<\/strong><\/p>\n

Okay. Okay. So you will be able to achieve 15% EBITDA margin in Q3 and Q4 both quarters. You may do, sir.<\/p>\n

Abhishek Jain<\/strong><\/p>\n

Yeah. For the Q4 we will able to. Achieve that and Q3 Q3 it will. Depend based on the production volume. So it is the overall guidance which you have given for the full financial year.<\/p>\n

Jimmy Shah<\/strong><\/p>\n

Okay. Okay. Okay. Okay. Okay. That’s it.<\/p>\n

operator<\/strong><\/p>\n

Thank you. A reminder to all the participants that you may press star and one to ask a question the next question comes from the line of Kaushal Shroff and investor. Please go ahead.<\/p>\n

Kaushal Shroff<\/strong><\/p>\n

Hello sir, it’s me. For the aftermarket and the commercial.<\/p>\n

operator<\/strong><\/p>\n

I’m sorry to interrupt you Mr. Kaushal, but you sound very low. Can you speak loudly?<\/p>\n

Kaushal Shroff<\/strong><\/p>\n

Yeah, just a minute. Hello. Yes, you’re audible.<\/p>\n

Kaushal Shroff<\/strong><\/p>\n

For the aftermarket and commercial tool room businesses, could you provide the revenue contribution of each segment in H1 and how do you see the business margin profiles?<\/p>\n

Abhishek Jain<\/strong><\/p>\n

So for the H1 if you talk about the aftermarket has contributed around 5% and the commercial tooling has contributed around 3%. Because certain. Because tooling business is long lead time business. So most of the sales will come in the Q3 and Q4. And so for the full year basis it will also contribute around 5% of the total top line. As far as the margin profile of both the business is aftermarket is contribute around 8% of the EBITDA margin. And the commercial 2 room is around 16 to 17%. Kind of.<\/p>\n

Kaushal Shroff<\/strong><\/p>\n

Okay. And do we receive any export orders in these verticals?<\/p>\n

Abhishek Jain<\/strong><\/p>\n

Not for the aftermarket but for the industrial product division. In quarter two we had sent one consignment and quarter three also we are expected to send certain more consignments.<\/p>\n

Kaushal Shroff<\/strong><\/p>\n

Thank you. That’s it for myself.<\/p>\n

operator<\/strong><\/p>\n

Thank you. A reminder to all the participants that you may press Star and one to ask a question. The next question comes from the line of Vijay Pandey from Novama. Please go ahead.<\/p>\n

Vijay Pandi<\/strong><\/p>\n

Hi sir, just one more question. A follow up. Sir, what is our revenue in terms of automotive products, industrial tooling and battery packs? Both revenue and EBITDA margin.<\/p>\n

Abhishek Jain<\/strong><\/p>\n

So for the automotive part business side we have the top line of around 117 crores. Aftermarket has contributed around 7.5 crores. Industrial product is around 2 crores. And Tambiraki, the commercial tooling business has contributed around 5 crores. And rest is other tooling and things. And about the EBITDA margin, if you talk about. So Meraki, as I’ve already told you, around 15 to 17% after market is around 7%. And the part business has contributed around 11 to 12%.<\/p>\n

Vijay Pandi<\/strong><\/p>\n

Okay, okay.<\/p>\n

Abhishek Jain<\/strong><\/p>\n

Okay.<\/p>\n

Vijay Pandi<\/strong><\/p>\n

Thank you.<\/p>\n

operator<\/strong><\/p>\n

Thank you. A reminder to all the participants that you may press Star and one to ask a question. Ladies and gentlemen, as there are no further questions from the participants I would now like to hand the conference over to Mr. Abhishek Jain for closing comments.<\/p>\n

Abhishek Jain<\/strong><\/p>\n

Thank you very much Bhumika for moderating today’s session. Friends, financial year 26 has begun with the strong strategic wins and a healthy order book even as quarter two reflected near short term revenue moderation amid a subdued industry environment. We expect that the coming quarters will gain momentum supported by new program launches, enhanced execution and a gradual recovery in automotive sector demand. Thank you all for joining us today. We hope we were able to address your questions effectively. For any further queries or clarifications, please feel free to reach out to our Investor relations Advisor. Thank you very much.<\/p>\n

Abhishek Jain<\/strong><\/p>\n

Thank you.<\/p>\n

operator<\/strong><\/p>\n

Thank you on behalf of PPAP Automotive Ltd. That concludes this conference. Thank you for joining us and you may now disconnect your lines. Thank you.<\/p>\n","protected":false},"excerpt":{"rendered":"

PPAP Automotive Ltd (NSE: PPAP) Q2 2025 Earnings Call dated Nov. 14, 2025 Corporate Participants: Abhishek Jain \u2014 Chief Executive Officer and Managing Director Analysts: Dhruv Rawani \u2014 Analyst Vijay Pandi \u2014 Analyst Jigar Shah \u2014 Analyst Raj Mehta \u2014 Analyst Jimmy Shah \u2014 Analyst Kaushal Shroff \u2014 Analyst Presentation: operator Ladies and Gentlemen, good […]<\/p>\n","protected":false},"author":2377,"featured_media":147581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6349],"tags":[10169,9175,9104,9092,14492,13842,10089],"class_list":["post-176659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transcripts","tag-earnings","tag-earnings-call","tag-earnings-conference","tag-earnings-transcripts","tag-financial-results","tag-motherson","tag-quarterly-earnings"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":153682,"url":"https:\/\/alphastreet.com\/india\/ppap-automotive-ltd-q1fy24-5-fall-in-revenue\/","url_meta":{"origin":176659,"position":0},"title":"PPAP Automotive Ltd Q1FY24; 5% fall in Revenue","author":"Karan_Singh","date":"August 14, 2023","format":false,"excerpt":"PPAP Automotives was Incorporated in 1985, it is a leading manufacturer of automotive sealing systems, interior and exterior automotive parts in India. The company is in the business of developing Automotive Body Sealing systems as well as Interior and Exterior Injection moulded parts. Financial Results: PPAP Automotive Ltd reported Revenues\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-1000.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-1000.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-1000.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-1000.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-1000.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/08\/image-1000.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":180924,"url":"https:\/\/alphastreet.com\/india\/ppap-automotive-limited-announces-strategic-divestment-of-joint-venture-stake-for-inr-100-crore\/","url_meta":{"origin":176659,"position":1},"title":"PPAP Automotive Limited Announces Strategic Divestment of Joint Venture Stake for INR 100 Crore","author":"Staff Correspondent","date":"February 16, 2026","format":false,"excerpt":"The automotive component manufacturer has completed the sale of its 50% interest in PPAP Tokai India Rubber Private Limited to partner Tokai Kogyo, aimed at debt reduction and capital reallocation. 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Participants: Unidentified Speaker Abhishek Jain \u2014 Managing Director & Chief Executive Officer Sachin Jain \u2014 Chief Financial Officer Analysts: Unidentified Participant Jigar Shah \u2014 Analyst Rajeev Saraf \u2014 Analyst Raju ESha \u2014 Analyst Pooja Mehta \u2014\u2026","rel":"","context":"In "Earnings Call Transcripts"","block_context":{"text":"Earnings Call Transcripts","link":"https:\/\/alphastreet.com\/india\/category\/transcripts\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/05\/Transcript-thumbnail.jpg?resize=525%2C300&ssl=1 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