Q3 2026 PPAP Automotive Ltd Earnings Call Transcript
Key Points
- PPAP Automotive Ltd (BOM:532934) successfully exited a joint venture with Tokai Kogyo Company Limited, receiving INR100 crore, which will be used to reduce net debt and fund strategic capital expenditures.
- The company is witnessing a gradual ramp-up in volumes, translating into improved sales momentum in the ongoing quarter.
- The aftermarket business, operated under Elpis Automotive, delivered over 30% year-on-year growth, driven by an expanded distribution network and product portfolio.
- The lithium-ion battery pack business under Avinya Batteries Limited achieved the highest monthly sales in its history, indicating a turnaround phase.
- PPAP Automotive Ltd (BOM:532934) is expanding its Chennai plant, which will be ready by April, offering better technological and competitive local solutions to customers.
- The joint venture with Tokai Kogyo Company Limited historically exerted a drag on PPAP's consolidated financial performance, with returns materially below expectations.
- The company's consolidated revenue for the nine months ended December 2025 showed a marginal decline of approximately 3.5% compared to the previous year.
- The automotive segment experienced softer-than-anticipated performance due to demand variability and deferment of planned volumes for new models.
- The company reported a consolidated profit after tax of only INR6.61 lakhs for quarter three, indicating gradual operational stabilization but still reflecting challenges.
- The Indian automobile industry's uneven growth across OEMs and models impacted PPAP Automotive Ltd (BOM:532934)'s top line, with certain high-volume models seeing moderation.
Ladies and gentlemen, good day, and welcome to PPAP Automotive Limited arnings conference call for Q3 and nine months FY '26. 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 date of this call. These statements are not the guarantees of future performance, and it may involve risks and uncertainties that are difficult to predict. (Operator Instructions) 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.
Thank you, and a very good afternoon to everyone. A very warm welcome to all the participants joining us on today's call. I am joined by Mr. Sachin Jain, our Chief Financial Officer; along with Strategic Growth Advisors, our IR advisers. Our quarter three and nine-month financial year '26 financial results,
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