{"id":182720,"date":"2026-05-12T03:11:57","date_gmt":"2026-05-12T07:11:57","guid":{"rendered":"https:\/\/alphastreet.com\/india\/ndr-auto-components-ltd-ndrauto-q4-2026-earnings-call-transcript\/"},"modified":"2026-05-12T03:14:44","modified_gmt":"2026-05-12T07:14:44","slug":"ndr-auto-components-ltd-ndrauto-q4-2026-earnings-call-transcript","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/ndr-auto-components-ltd-ndrauto-q4-2026-earnings-call-transcript\/","title":{"rendered":"Ndr Auto Components Ltd (NDRAUTO) Q4 2026 Earnings Call Transcript"},"content":{"rendered":"

Note:<\/strong> This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon.<\/em><\/p>\n

Ndr Auto Components Ltd (NSE: NDRAUTO) Q4 2026 Earnings Call dated May. 12, 2026<\/span><\/strong><\/p>\n

Corporate Participants:<\/h2>\n

Pranav Relan<\/strong> \u2014 Wholetime Director<\/em><\/p>\n

Analysts:<\/h2>\n

Rishab Barar<\/strong> \u2014 Analyst<\/em><\/p>\n

Unidentified Participant<\/strong><\/p>\n

Jatin Chawla<\/strong> \u2014 Analyst<\/em><\/p>\n

Manish Gupta<\/strong> \u2014 Analyst<\/em><\/p>\n

Presentation:<\/h2>\n

Operator<\/strong><\/p>\n

Ladies and gentlemen, good day and welcome to the NTR Auto Q4FY26 earnings conference call. 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 this conference call, please signal an operator by pressing Star then zero on your touchstone phone. I now hand the conference over to Mr. Gavin Dessa from CTR India. Thank you. And over to you sir.<\/p>\n

Rishab Barar<\/strong> \u2014 Analyst<\/em><\/p>\n

Thank you. Good day everyone and welcome to all of you participating on this Q4 and FY26 earnings call for NDR auto components. We also have with us today Mr. Pranav Velang the whole time Director, Mr. Vikram Krishna Rathi, CFO and Vice President, Mr. Rakesh Rastagi, GM Finance and Accounts and Mr. Rajat Bhandari, Executive Director and Company Secretary. Before we begin, I would like to mention that some statements made in today’s discussion may be forward looking in nature and are subject to risks and uncertainties.<\/p>\n

A statement in this regard is available in the presentation on the exchanges and shared with you earlier. We will start the call with opening remarks from the management following which we will have an interactive Q and A session. And Now I invite Mr. Pranavrella to share some perspectives with you with regard to the operations and the outlook for the business. Over to you, Khanna.<\/p>\n

Pranav Relan<\/strong> \u2014 Wholetime Director<\/em><\/p>\n

Good day everyone and a warm welcome to our Q4FY26 earnings conference call. Thank you for joining us today. We are encouraged by our progress in the quarter and year under review. I will quickly take you through a snapshot. For Q4FY26, our total income stood at rupees 229.89 crores, a growth of 19%. While on Y EBITDA for the quarter was 27.36 crores, a growth of 25%. Year on year with EBITDA margins at 11.90%. These I must add are the highest ever. EBITDA margins For MBR Auto PAC stood at rupees 18.45 crores for the full year.<\/p>\n

Total income stood at rupees 825.45 crores with growth of 15%. EBITDA was rupees 93.5 thousand crores with margins of 11.34%. PAT improved 16% to 61.94 crores for the full year. ROCE employed rot continues to be strong, standing at 36.22%. As on 3-31-2026 not considering the ROU surplus cash land in Kharkoda and Aurangabad which we will utilize towards the expansion of our operations. Sales volume to all our partner OEMs continues to improve reflective of both recognization of our capabilities and a good demand environment.<\/p>\n

As you are aware there are also a large number of new models being planned and we are optimistic of having the opportunity to cater to many of these launches. Our order book as on 31st March 2000 and 26 so that would be 650 which also is the highest in the history of NBR auto components. It provides us strong medium term revenue visibility and underlines the confidence OEMs continue to place in our capabilities. I am happy to inform you of our progress in our non seating space with the zillow of olives and ambient lighting and believe this is a precursor to much more.<\/p>\n

Our capex plan towards the establishment of backend infrastructure for our new product offerings namely feed, insert, ambient lighting, shade latches and keep that to mind. The system remains intact. We continue to focus on expanding the content for vehicle we offer and bringing to the market disruptive and value added product offerings. The demand environment remains stable on our part. We are well prepared to leverage the significant opportunities we foresee. We have adequate land available for expansion 26 acres at Aurangabad and 9 acres in Kolkola which would help reduce our cost towards setting up expanding capacities.<\/p>\n

We will now be happy to take your questions.<\/p>\n

Questions and Answers:<\/h2>\n

Operator<\/strong><\/p>\n

Thank you very much. We will now begin with the question and answer session. Anyone who wishes to ask a question may press star and one on the Touchstone telephone. If you wish to remove yourself from the question queue you may press star and then two participants. You are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue sends us. A reminder to all. You may press N1 to ask a question. We will take the first question from the line of Anubhav from Prescient capital.<\/p>\n

Please go ahead.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Hello, am I audible?<\/p>\n

Operator<\/strong><\/p>\n

Yes you’re audible sir.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Thanks for the opportunity. One of the sequential increase in order book from like 450 crores at the end of Q3 FY26 to 650 crores now. Congrats on that. So can you give some color on what type of new orders have we gone? Is this like for new models of our existing OEM or have we added new oem? Some qualitative like description will be helpful. So we’ve got new models for now that is my increase.<\/p>\n

Operator<\/strong><\/p>\n

Sorry to interrupt in between. Sir, your voice is not audible.<\/p>\n

Pranav Relan<\/strong><\/p>\n

So we’ve got some new models from Maruti Sudhuti which has led to an increase in our order book. We’ve also removed the Evatara from my existing order book because it started production.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. And this LOI that we have received from the lighting, is this like a product development or like some kind of like order?<\/p>\n

Pranav Relan<\/strong><\/p>\n

They all new models that we built for new acquired business. Hello.<\/p>\n

Operator<\/strong><\/p>\n

Yes Anubhav, you’re audible.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Yeah. Somehow the magnet line is not very clear. So my next question is like there’s been some slight delay startup production for the new Bangalore plant of the Hayashi building. So it seems like delay of a quarter. So is this because of like what I meant to do?<\/p>\n

Jatin Chawla<\/strong><\/p>\n

Sorry, can you repeat that again?<\/p>\n

Pranav Relan<\/strong><\/p>\n

Some of the new Bangalore plan for the Hayashi gd like earlier I think it was scheduled to start production in April. But in this quarter’s presentation mentioned<\/p>\n

Unidentified Participant<\/strong><\/p>\n

That it start in June.<\/p>\n

Pranav Relan<\/strong><\/p>\n

So can you like give some color on what may be this delay? Sort of like is it. So it’s basically because of some operational issues that we’ve delayed it by two months. Thanks. I’ll get back in a few.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Jatin Chawla from RDL Investments. Please go ahead.<\/p>\n

Jatin Chawla<\/strong><\/p>\n

Yeah. Hi, good afternoon and thanks for the opportunity. Congratulations on a good result delivering 20% growth. You know, despite the fact that one of our key models is facing some challenges. My first question is on the other expenses. There is a big pickup on a quarter on quarter basis from like 21 crores to 24 crores crores. Any one offs there or this is just all kind of maybe year end that is there.<\/p>\n

Pranav Relan<\/strong><\/p>\n

So there’s an increase in project and marketing expenses including R and D expenses. That is like this increase.<\/p>\n

Jatin Chawla<\/strong><\/p>\n

Got it. And on the gross margin side again there is 100bps QoQ improvement. Any one off there or that is just normal product mix.<\/p>\n

Pranav Relan<\/strong><\/p>\n

That’s a module product mix. In addition we’ve also got some discounts from our vendors that have led to it.<\/p>\n

Jatin Chawla<\/strong><\/p>\n

Sorry, discount from vendors. This is for volume discount or because commodities are normally going up. So do you see this kind of gross margin holding up or given the fact that commodities are now going up, you know there will be some pressure on gross margins.<\/p>\n

Pranav Relan<\/strong><\/p>\n

So gross margin should be similar. And all our commodities tend to be in debt. So there shouldn’t be too much difference in our gross margin.<\/p>\n

Jatin Chawla<\/strong><\/p>\n

Got it. So in a way this 11.5% EBITDA margin that we have this quarter, you know, without including other income and all is something that is sustainable going forward.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Yes, that is sustainable.<\/p>\n

Jatin Chawla<\/strong><\/p>\n

Got it. This<\/p>\n

Pranav Relan<\/strong><\/p>\n

Order book increase from 450 crores to 650 crores. The entire 200 crores is from Maruti or is there other orders from<\/p>\n

Jatin Chawla<\/strong><\/p>\n

Any other client as well?<\/p>\n

Pranav Relan<\/strong><\/p>\n

So there’s entire 200 crores from Maruti.<\/p>\n

Jatin Chawla<\/strong><\/p>\n

Got it, Got it. With this now we broadly have visibility of revenue going to like 1500 crores. But in order to meet the 3000 crore target and given the, you know how the auto industry works where you need to kind of get orders like at least 18 to 24 months in advance, we will need another 1500 crores or so of orders in the next two, two and a half years. So how is the visibility on that looking and how confident are you of getting there?<\/p>\n

Pranav Relan<\/strong><\/p>\n

So 500 crores we want to do from existing customers and our existing products. Thousand crores is something I think you’ll have to give us some more time on. We get back to you by the end of the year, will try to give you updates slowly.<\/p>\n

Jatin Chawla<\/strong><\/p>\n

Got it. That is very useful.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Thanks a lot. I’ll come back in the queue.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Ramil from Electrum pms. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah. Hi Pranav. Congratulations on a good set of numbers and thanks for the opportunity. So firstly, just to understand, you know, for the new products that we are working on, the 150 crore total capex that we will do in the various product lines, just want to understand in terms of visibility what kind of orders we have already got or what is the visibility on that? Because orders need to come a little earlier than you know, when the plant comes. So how is the thought process on that?<\/p>\n

Pranav Relan<\/strong><\/p>\n

So seatbelt reminder system, seat latch and the seat insert, we already have orders for that. We’ll just be transferring the business to that. It starts 2027 January and slowly, slowly we start ramping that up. For the Hayashi joint venture, we’ve transferred the shades business and we’ve got two ambient lighting orders for that.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Ayashi ambient lighting and shades orders we have.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Yes. So we’ve got a new, we’ve got this is broken into Maruti Sudha ambient like that.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, okay. And also then on the margin side, so as you mentioned to the previous participant that broadly the margins will sustain but you know, when these new products also come and probably the utilization start increasing in a year or two Broadly where does this margin kind of if you can give some color on the margin range where we can reach. Going ahead.<\/p>\n

Pranav Relan<\/strong><\/p>\n

So let’s stick to the current margin for the moment because there will be some startups for circular government.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay. And one thing just on the, on the balance sheet. So I think we had a negative in operating cash flow. So any specific reason or probably it gets normalized in this year.<\/p>\n

Pranav Relan<\/strong><\/p>\n

So we paid about 12 crores for our Delhi office. We’ve also paid 6 crores to support our subsidiaries. And then we also had an increase in MSME vendors. That is next to a reducing cash flow.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. So going ahead thing it will, it should normalize.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Okay.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. And just lastly to understand on the you know the new OEM discussions so how, where are we placed and you know what kind of discussions are ongoing for new OEMs or new, you know, customers. There are we in some advanced discussions there.<\/p>\n

Pranav Relan<\/strong><\/p>\n

So when something converse and I think we share that with you, I think that’s the best way to go forward.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay. Okay. Great. Thanks. And all the best.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Sukrit Deep Patil from ISIGHT Fintrade Private Limited. Please go ahead.<\/p>\n

Manish Gupta<\/strong><\/p>\n

Good afternoon to the team. I have two questions. The first question to Mr. Rayland is how do you see NDR Auto expanding its role in India’s auto component industry over the next few quarters Especially when EV adoption and changing safety standards. What new product lines or partnerships are on the table that will help the company grow beyond the current OEM base? That’s the first question. I’ll ask my second question after this. Thank you.<\/p>\n

Pranav Relan<\/strong><\/p>\n

We’re continuously working on expanding products and customers. When something can work, then we share that.<\/p>\n

Manish Gupta<\/strong><\/p>\n

Okay. My, my second question to Mr. Rati is looking ahead, how will you balance investments in budget expansion and technological updates with maintaining financial discipline? What long term cost saving measures are being built now to protect margins if raw material prices rise further? Thank you.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Good morning. We have, we map the cost versus cost result for each products and each, each component. So we monitor, we monitor the cost increase increase with the proximity improvement and. Thank you.<\/p>\n

Manish Gupta<\/strong><\/p>\n

Thank you and best vision.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Manish Gupta from Equinox Investment Advisors. Please go ahead.<\/p>\n

Pranav Relan<\/strong><\/p>\n

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

Operator<\/strong><\/p>\n

Yes, sir. You’re adamant.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Thank you for the opportunity. Does premiumization that’s happening in the industry lead to higher content for our execution or it remains the same for us? So seat is going through premiumization phase. If you can See the difference? There’s a lot of artificial levels that’s coming in. Power seats are coming in, ventilated seats are coming in. That will lead to a significant premiumization.<\/p>\n

Jatin Chawla<\/strong><\/p>\n

All right, so what would be the, let’s say a factor of premiumization? 1.5x2x. If you could give some color on that.<\/p>\n

Pranav Relan<\/strong><\/p>\n

See, we don’t have a number on that. It goes model to model, but it should increase by about maybe 40%, 50% in the next five years.<\/p>\n

Jatin Chawla<\/strong><\/p>\n

And my second question is, since Maruti is facing very strong competition from other OEMs, so are we in active discussions with other, other OEMs for diversification and risk containment purposes?<\/p>\n

Pranav Relan<\/strong><\/p>\n

So we’re continuously looking to diversify our customers.<\/p>\n

Jatin Chawla<\/strong><\/p>\n

All right. And finally, sir, a question about our industry company, Bharat.<\/p>\n

Pranav Relan<\/strong><\/p>\n

So you had set a 3,000 crore revenue target for financial 30 and Bharat has come up with pretty good results in Q4. So does that guidance remain unchanged or is there any upward division to that?<\/p>\n

Jatin Chawla<\/strong><\/p>\n

So Bharat, maybe you can take a three and a half thousand guidance.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Okay. And sir, Bharat Seats is also benefiting from premiumization move or how does that work there? So that will benefit from premiumization and that will also benefit from our existing new order. All right. All right, thank you very much.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Saket Kapoor from Kapoor company. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Namaskar, sir. Hope I’m audible.<\/p>\n

Operator<\/strong><\/p>\n

Yes, you’re audible. Hello. Yeah, yeah, thank<\/p>\n

Unidentified Participant<\/strong><\/p>\n

You. Thank you for the opportunity, sir. Firstly, as we have a closing order book of 650. 650 crores. So sir, does this outline two programs that will run for money multiple year or is it only one time order booking that that has been done?<\/p>\n

Pranav Relan<\/strong><\/p>\n

Can you repeat that again? I didn’t understand, sir.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

In the, in the auto space, we have been of the view that there are programs that we run with OEM for several years. So with the time, type of order booking and especially the additions that we have got from Maruti Suzuki. This, this order book is pertaining to be executable as a one time or this is a program for the coming four to five years. How should one look into it?<\/p>\n

Pranav Relan<\/strong><\/p>\n

So there are multiple programs that will get executed over the course of the next three years.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay, so then what is the significance of this 650 crore closing order book? In what context should we look into it? Or one. That was my question.<\/p>\n

Pranav Relan<\/strong><\/p>\n

So you can add that to our current revenue. That is what’s going to be our revenue by the end of the decade?<\/p>\n

Unidentified Participant<\/strong><\/p>\n

By the end of<\/p>\n

Pranav Relan<\/strong><\/p>\n

2030.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

No sir, if you could just clarify something more. What I’m trying to make sense is that whenever an order book is being posted there is an executable period for the same and then there are repeat orders that happen on the basis of order given. Say suppose Maruti gave you a component business order after approval for 50 crore. Hypothetically that will run for eight years down the line. So over the period of time this is a 400 crore revenue profile for the company. So that, that is what my question is.<\/p>\n

What should we read into this 650 crore number in terms of execution and the program running for how many years?<\/p>\n

Pranav Relan<\/strong><\/p>\n

So our current revenue is about 850. 850 crore. This order book will add another 650 crores to our revenue and then those programs will last for another seven to eight years.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Seven to eight years.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Yes. Okay.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. My next question is pertaining to the Capex that we have envisaged for the current financial year. Last year I found that in the cash flow we have done capex closer to 74 crore and the previous year was closer to 48 crore. So what should this year translate into?<\/p>\n

Pranav Relan<\/strong><\/p>\n

So this year we’re going to do all the projects and apart from that we should be doing another 30 to 40 crores of capex.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

30 to 40 crore. Because in the project expansion update in the slide number seven under the product line, seat trims and frames and ambient light carpet and sunset we are expected or we. I think so we have already spent around 102 crores. So this, this amount is already there in the capital work in progress that the facilities which will be commenced by June and July.<\/p>\n

Pranav Relan<\/strong><\/p>\n

So the seat insert support, we’ve done most of the Capex, the seat frame and trim for India Auto south we’ve also done most of the Capex. Also for the seat latch and the seatbelt reminder we’re still doing some of the Capex. In addition to that we’re going to do another 40 to 50 crores to execute our Karnu order book.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. So the project, project expansion update which what we have mentioned in the slide we will have another 40, 50 crore that will be get, get covered out even separately or it is covered in the 150 crore capex that we have mentioned here.<\/p>\n

Pranav Relan<\/strong><\/p>\n

That’s going to be over and above that for our existing order book.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. And sir, what should be the asset turnover ratio especially for the ambient light segment and what portion of revenue we will be booking from this product line for this current year.<\/p>\n

Pranav Relan<\/strong><\/p>\n

So the Ambient lighting asset turnover should be anything between three and four. It’s a small order to start with, so it should be not too meaningful. At least<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Your voice is muffled, sir. Come again please. Please speak closer to the mic.<\/p>\n

Pranav Relan<\/strong><\/p>\n

The two ambient lighting orders that we’ve got are relatively small orders. The top line could be anything between 10 and 20 crores for both.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. And this will scale up, push our further product impediment with the OEM and we will. We’ll see further revenue profile going ahead that you will share later. Yes. Once<\/p>\n

Pranav Relan<\/strong><\/p>\n

You start acquiring. Yes.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Right sir. And so lastly in terms in the context of the recurrent graduates of the geopolitical issues, the oil prices then the issues with the routes, navigation, how is auto industry currently poised with the. With the supply side situations in the component industry? The trends which have been that there is some issues with the. With the spares and all. How is our company poised to face this challenge? And if you could just give us some setup of how are we insulated from the current wage of the business environment.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Demand seems to be intact at the moment. But in terms of supply issues, our company is not facing any issues.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

I joined the queue. Thank you. And all the best to the team, sir.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Ankush Nahar from Electron ems. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thank you for the opportunity, sir. So a couple of questions. First a bookkeeping question. I think our employee expense is up 33% for the financial year. So any one offs over there or is it a new run rate considering the capex that we’re doing? Secondly, since you have transferred the sunshade business to the jv so how much was the revenue as of now that we were generating from sunshield? And also what is the percentage stake in the GV that we have with Ayashi? Yeah, please go ahead.<\/p>\n

Pranav Relan<\/strong><\/p>\n

So the employees expenses have increased because we’re trying to grow our business. That’s some manpower that we had to hire. The shade business that we transferred to the JV is about 20 crores. And the shareholding of the joint venture 50<\/p>\n

Unidentified Participant<\/strong><\/p>\n

And so on the Toyota extension article, I think today they have released a commentary of expanding in Aurangabad. So you know, are we directly benefiting from this? And you know, what is our plan in order to be a part of the growth of the oem?<\/p>\n

Pranav Relan<\/strong><\/p>\n

So we’ve currently acquired land in Aurangabad for the Toyota expansion. We also did a joint venture with Hayashi for the Toyota expansion. And we also want to replicate our Seed business over there. That’s all is under current bidding process process right now.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

So once I think the bidding is through then we plan for a capex in terms of plans etc.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Yes.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. And then lastly on the JV side. So I think we have spent I think the highest amount in terms of absolute figure 80 crore on the JV. And today we are sitting on a comparatively small order book of 10 to 20 crores and maybe sunshade adding that would be 40 crores. So in terms of utilization of such a big capex, are we facing any issues in getting new orders or is the time which has been taken a bit longer because of any reason?<\/p>\n

Pranav Relan<\/strong><\/p>\n

So 80 crores is the total project cost that we approved. We’ve currently spent invested about 10, 15 crores each which is about 50 crores in it. So we’ll just keep on investing as soon as we get more business.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. It’ll be more of a phase wise extension rather than one stop.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Yes.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. All right. So thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Ashok Shah from Eklavia Invesco family office. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Thanks for taking my question. Sir, you just talked about the IT be sheet industry being premiumized. So what percentage of the business will go to bioship and what will be to ND business?<\/p>\n

Pranav Relan<\/strong><\/p>\n

So we’ve divided the processes very clearly. Paris does the seat assembly and receipt form and NDR does the seat cover and receive frame.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

So this business over the 2030, what will be size of the total formula industry?<\/p>\n

Pranav Relan<\/strong><\/p>\n

I don’t have that number offhand, but I can share that with you.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. And secondly sir, do I as a company Suzuki has got around 70% in the group holding and you have around 41%. So do you plan to increase the holding and take it to 75%?<\/p>\n

Pranav Relan<\/strong><\/p>\n

Sorry, this is regarding Bharat, the shareholder.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah, Bharat, I’m talking about.<\/p>\n

Pranav Relan<\/strong><\/p>\n

So NDR orders 28%. Our family has 17%. Subaji has another 30% and that’s the rest of the public. There’s no change in shareholders. No, I’m talking about<\/p>\n

Unidentified Participant<\/strong><\/p>\n

The NDR increasing the holding by 3,4%. Because clipping acquisition is available to India.<\/p>\n

Pranav Relan<\/strong><\/p>\n

So I don’t think we can cross the 74% threshold.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

75% is allowed. 75%? As a promoter, not more than 75%.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Yeah, we’ve got 73 at the moment or 74. 74.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

And sir, for all the expansion, what will be capex required for both the companies?<\/p>\n

Pranav Relan<\/strong><\/p>\n

I don’t have the biofeed Number at the moment. But NDR also we’ve given the project update. And in addition to that we give us another 50 to 40 bureaus.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay sir. Thank you sir. And sir, lastly sir, if possible sir, you organize a phone call for also bioship also. It will be much beneficial to all the investors. Thank you sir.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Thank you.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Anubhav from Priscilla Capital. Please go ahead.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Thanks for the follow up opportunity. We were supplying I think some body and white parts to Jimmy. So are we looking to like increase like sheet metal part and BIW part for Adam? What is the focus on that? So we’re working towards increasing our BIW content. In addition we’re also working towards increasing our ambient lighting and shade business.<\/p>\n

Jatin Chawla<\/strong><\/p>\n

And this 200cr order<\/p>\n

Pranav Relan<\/strong><\/p>\n

Book you mentioned that it’s entirely from multi implemental.<\/p>\n

Jatin Chawla<\/strong><\/p>\n

So is it that<\/p>\n

Pranav Relan<\/strong><\/p>\n

Like we are gaining market share within Mahuti, some other fee vendors. Could you give some color on that? And what is help<\/p>\n

Jatin Chawla<\/strong><\/p>\n

Driving that?<\/p>\n

Pranav Relan<\/strong><\/p>\n

Yes. So we have increased with the new order book we are likely to increase market share in Bharati. And what is helping driving that? Is it like some specific vendor is losing share and we are giving or is it more driven by our capabilities, our performance, cost, quality and delivery still good. And yes, there is someone else who’s been losing some share. Thanks.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of DIA from Sapphire Capital. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

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

Operator<\/strong><\/p>\n

Yes, you’re audible. Please proceed.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

So any revenue<\/p>\n

Operator<\/strong><\/p>\n

Guidance and ebitda margins for FY27?<\/p>\n

Pranav Relan<\/strong><\/p>\n

So we don’t give annual guidance. We’ve given a four year, five year long term plan guidance.<\/p>\n

Operator<\/strong><\/p>\n

Okay, no problem. So can you provide the revenue mix for FY26?<\/p>\n

Pranav Relan<\/strong><\/p>\n

Yeah, sure. I don’t have that offhand but I can share that with you.<\/p>\n

Operator<\/strong><\/p>\n

Okay<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Sir.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. Thank you. We will take the next question from the line of Saket Kapoor from Kapoor. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yes. Yes sir. In continuation to the previous participant we did revenue of around 8, 830 for the fiscal year. So the what should be trajectory likely be going ahead. Since now we have confirmed order book and the. And we have the impediment of impediment of the product profile also. So what should we look forward in terms of the the trajectory that we need? We will we are likely to transcant for the current financial year. And secondly if we can be providing the revenue mix between the products that we cater to, how much it goes to the chief part what is the other that mix?<\/p>\n

If we can provide in the presentation going ahead and if you have the numbers now, that would suffice<\/p>\n

Pranav Relan<\/strong><\/p>\n

So we can provide the product mix within the next presentation. I don’t have that number at the moment, but we can share that later with you. And in terms of the revenue guidance our top line is about 850 crores. We got an order book of another 650 crores. So you can add that. That should be our guidance till FY30.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

FY<\/p>\n

Pranav Relan<\/strong><\/p>\n

FY15.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. I was just trying to make sense the, the. The journey that we have done over the last fiscal from a revenue of. If I exclude the other income from 713 to 822 that growth trajectory we will gain momentum on it or that is what the likelihood should be.<\/p>\n

Pranav Relan<\/strong><\/p>\n

No, there should be. The Ebitdara should come in the full year and then we’ve got three more projects coming next year. So that should increase next year.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

I hope I’m not on a good line. I think. Can you repeat it once again?<\/p>\n

Pranav Relan<\/strong><\/p>\n

So we’ve got EBITDA which will come next full year and then we’ve got three more projects starting next year. So I think we should likely have the similar. Have a similar revenue growth.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. That is for the next year. Sir, I was more pertaining to the current current year that the trajectory where we have transparent from 25 to transparent from 25 to 26 that will gain momentum because of this execution of the current order book. That is very likelihood for this year also.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Yeah, there should be some growth next year. We don’t have exact numbers<\/p>\n

Unidentified Participant<\/strong><\/p>\n

For this year. I’m asking not next year for 26, 27.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Yeah. So for next year we don’t want to share a current guidance because simply programs can delay and how ramp ups happen.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Okay. Okay. Sir, we hope that our Bharat seat also request is allied to. Sir, maybe half early or some bit of conversation between participants and management can be communicated to a platform for Bharat seat also. That would suffice. Lot of questions. Thank you.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Okay, sure.<\/p>\n

Operator<\/strong><\/p>\n

Thank you. We will take the next question from the line of Ankush Nahar from Electrum pms. Please go ahead.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

Yeah. As I thank the follow up opportunity. So just wanted one clarification. The 3,000 target that we have by 2030 that is first only for India. Right? And not including Bharat.<\/p>\n

Pranav Relan<\/strong><\/p>\n

Yes, that is for India.<\/p>\n

Unidentified Participant<\/strong><\/p>\n

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

Operator<\/strong><\/p>\n

Thank you very much. As there are no further questions from the participants I now hand the conference back to the management for Closing comments<\/p>\n

Pranav Relan<\/strong><\/p>\n

Thank you for your time and participation. We continue to be optimistic about the opportunities before us and look forward to sharing these with you as we move forward. Should you need any input or clarification, please write into our investors Initial Partner, CBR India. Thank you,<\/p>\n

Operator<\/strong><\/p>\n

Thank you members of the management, on behalf of NDR Auto. That concludes this conference. Thank you all for joining us and you may now disconnect your lines.<\/p>\n","protected":false},"excerpt":{"rendered":"

Note: This is a preliminary transcript and may contain inaccuracies. It will be updated with a final, fully-reviewed version soon. Ndr Auto Components Ltd (NSE: NDRAUTO) Q4 2026 Earnings Call dated May. 12, 2026 Corporate Participants: Pranav Relan \u2014 Wholetime Director Analysts: Rishab Barar \u2014 Analyst Unidentified Participant Jatin Chawla \u2014 Analyst Manish Gupta \u2014 […]<\/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":[10169,9175,9104,9092,14492,10089],"class_list":["post-182720","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-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":173434,"url":"https:\/\/alphastreet.com\/india\/ndr-auto-components-ltd-ndrauto-q2-2025-earnings-call-transcript\/","url_meta":{"origin":182720,"position":0},"title":"Ndr 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