Dhoot Transmission Q1 FY27: Revenue Surges 50% YoY, EV Contribution Reaches 27%
Dhoot Transmission reported a 50% YoY revenue growth for Q1 FY27, reaching ₹467 crores. EV revenue surged 79% to 27% of total revenue. EBITDA margins improved to 15%. The company expects 25-30% growth for the full year and anticipates EV revenue to exceed 30% in 2-3 years. Net cash surplus reached ~₹1,000 crore by August end.
The substantial revenue growth, significant increase in a high-growth segment like EVs, margin improvement, and positive future guidance are key financial metrics that are likely to have a significant impact on investor sentiment and the company's stock performance.
The company reported strong year-on-year revenue growth, significant expansion in its EV segment, improved EBITDA margins, and provided a positive outlook for the upcoming year, indicating a favorable financial performance.
Dhoot Transmission Limited announced its Q1 FY2026-27 unaudited financial results (standalone and consolidated) for the quarter ended June 30, 2026. The company reported a robust year-on-year growth of nearly 50% in revenue.
The automotive industry, particularly the two-wheeler segment, experienced significant growth with a 22.8% increase. The EV industry saw a remarkable 93% growth, while ICE vehicles grew by over 20%. Dhoot Transmission capitalized on this trend, with domestic volumes growing in excess of 20% and exports by over 36%.
Specifically, revenue from wiring harness grew by 44.6% YoY, and the non-wiring harness business saw a substantial increase of 67.7%. The recent acquisition of Multilink contributed approximately 3% to the overall revenue growth. The EV revenue segment demonstrated strong performance, growing by 79% and now constitutes 27% of the company's total revenue, up from 24% in the previous year.
EBITDA margins improved by 110 basis points to 15% compared to Q4 FY2026. The company is optimizing its working capital debt levels, leading to a decline in finance costs, aided by an equity infusion in March. The integration of Multilink is progressing well, and the company is confident in scaling its non-wiring harness business. Furthermore, the collaboration with Ride Vision for a Joint Venture is also advancing.
Looking ahead, Dhoot Transmission is optimistic about continued growth, driven by the electrification trend and expansion in its customer and product base. The company anticipates delivering another strong year with 25%-30% growth. An update on the utilization of IPO proceeds will be provided in the next reporting period.
During the post-earnings conference call, management addressed investor queries regarding margin expansion, the Multilink acquisition's future, EV component business growth, and financial performance. The company reiterated its full-year EBITDA margin guidance of 15%-16%. The integration of Multilink is expected to be completed within 3-4 months, adding new customers like Hero and products such as fuel level sensors and relays, with an expected growth of 25%-30% for the acquired business. The non-wiring harness EV component business, including battery pack assemblies, is seeing new customer additions, with supplies already commenced to a significant customer. The company expects its EV revenue contribution to exceed 30-32% in the next two to three years. The company also confirmed a net cash surplus of around ₹1,000 crore by the end of August, post-equity infusion. The planned capacity expansion in Jhajjar and Hosur is expected to add 15%-20% to the company's capacity this year.
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Dhoot Transmission Limited filed this with the NSE as a statutory disclosure, categorised under other company updates. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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