Ahemdabad: Emmforce Autotech reported a strong set of numbers for Q1FY26, backed by robust traction across OEM programs, US contracts, and its recently operational subsidiary in forgings, blades, and agri equipment. The mgt, during its Q1FY26 concall, highlighted improving demand visibility and multi-year revenue opportunities across domestic and export markets.
The co posted revenue of ₹53.6 cr in Q1FY26, a 44% YoY jump, driven by higher order flows and better product mix. EBITDA grew 48% YoY to ₹11.1 cr, while PAT stood at ₹4.05 cr, higher than ₹3.38 cr last year, though contradicting the mgt’s earlier comment about a PAT decline. The co reiterated that operating efficiencies, FX benefits and mix improvements will continue to support margins, with EBITDA margin guidance maintained at 20-21%.
A major focus area is the OEM program, where the plant is now fully ready and SOP is expected anytime. The mgt guided for ₹20 cr revenue in FY26 and ₹55 cr in FY27 from this vertical. In the US market, Emmforce secured a new axle assembly contract worth ₹10.5 cr annually, alongside additional orders from new customers estimated to add another ₹10 cr per year.
On the product front, hydraulic pump trials have been completed, and POs are expected by Q4FY26. The subsidiary, covering forgings, blades, and agri tools, is now fully operational and is expected to add 0.5-1% to margins due to in-house forging capacity. TAFE blades and agri equipment are scaling well, with an ambitious ₹50–75 cr FY27 revenue target.
Capex requirements are largely behind, and the co plans to capitalize the remaining ₹21.5 cr CWIP soon.
With strong execution visibility, the mgt reaffirmed its revenue outlook: ₹125-135 cr in FY26, ₹175-200 cr in FY27, and ~₹250 cr by FY28, driven by OEM ramp-up, export contracts, and in-house capability expansion.
