Suprajit Engineering LimitedQ1 FY27 Results & Financial Update
Suprajit Engineering Limited: Q1 FY27 consolidated results and company financials – revenue ₹1,069.58 Cr, PAT ₹52.23 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Suprajit Engineering Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Suprajit Engineering Limited posted its highest-ever quarterly operating revenue of Rs. 1,069.58 crore (Rs. 10,695.77 million) for Q1 FY27, reflecting a robust consolidated revenue growth of 24% over the corresponding quarter of the previous year as reported in the company's investor presentation.
Consolidated operational EBITDA for the quarter registered strong expansion, growing by 57.5% year-over-year to Rs. 128.7 crore (Rs. 1,287 million) with the EBITDA margin improving to 12.0% from 9.5% in Q1 FY25-26, supported by successful division restructuring and strong project ramp-ups.
Profit after tax (PAT) for the quarter stood at Rs. 52.23 crore (Rs. 522.29 million), accompanied by basic and diluted earnings per share (EPS) of Rs. 3.80 for the unannualised interim period.
Operating performance varied across divisions: the Global Cables & Mechatronics division delivered 27.6% revenue growth with EBITDA margin rising to 12.6% post-restructuring, while the Sensors, Electronics & Displays division achieved 48% revenue growth and a 100% surge in operating EBITDA.
Domestic operations experienced temporary margin pressures in the India Cables & Mechatronics and Phoenix Lighting & Electricals divisions due to significant wage inflation, labor shortages across India including unrest in the NCR region, and delayed passing of raw material cost increases to customers.
Management noted that geopolitical conflicts in the Middle East contributed to higher oil and commodity prices, supply chain friction, and transportation challenges during the quarter.
Group debt stood at Rs. 775.5 crore as of June 2026, down slightly from Rs. 785.0 crore in March 2026, while investments in mutual funds and bonds rose to Rs. 243.1 crore.
Management expects the temporary margin impacts in ICM and PLE to normalize during the second and third quarters of FY27 as new price implementations take effect.
01 · Business model
What does Suprajit Engineering do?
Suprajit Engineering Limited is a prominent global manufacturer of automotive and non-automotive components, holding a leading position in mechanical control cables with production exceeding 300 million cables annually across more than 20 applications in cars and over 5 applications in two-wheelers and off-highway equipment.
The company operates through specialized divisions including Global Cables & Mechatronics (GCM, formerly SCD), India Cables & Mechatronics (ICM, formerly DCD), Phoenix Lighting & Electricals (PLE, formerly PLD), and Sensors, Electronics & Displays (SED), backed by the central R&D capabilities of the Suprajit Technology Center (STC).
Suprajit serves a diversified global and domestic OEM and aftermarket customer base spanning passenger vehicles, commercial vehicles, two-wheelers, off-highway machinery, and major retailers across India, the Americas, Europe, and Asia.
The company pursues a balanced de-risked business model combining organic technology expansion into non-cable product lines like braking systems, digital clusters, and actuators with a disciplined track record of international acquisitions.
02 · Historical context
What shaped the business before this quarter
On June 9, 2024, Suprajit USA Inc. entered into agreements to acquire Stahlschmidt Cable Systems (SCS) out of German insolvency proceedings, with stage one completed in July 2024 and stage two in Canada and China effective May 31, 2025, resulting in SCS financials being clubbed under GCM.
The company liquidated Polish subsidiary SCS Polska Sp. z o.o. in August 2025 and German subsidiary Trifa Lamps Germany GmbH in March 2026, successfully completing all major restructuring within the GCM division by the end of March 2026.
Following the notification of four new Indian Labour Codes in November 2025, the group accounted for incremental defined benefit obligations of Rs. 78.15 million (standalone Rs. 71.11 million) as an exceptional item in Q3 FY26.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹1,069.58 Cr |
| Total income | ₹1,073.79 Cr |
| Profit before tax | ₹76.45 Cr |
| Profit after tax | ₹52.23 Cr |
| EPS | ₹3.80 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
GCM revenue grew 27.6% year-over-year to Rs. 6,025 million, driven by robust new project ramp-ups with US OEMs and China's largest OEM against a muted global market backdrop.
ICM posted revenue growth of 20.8% to Rs. 3,310 million, reflecting all-round improvements across OEM and aftermarket businesses alongside strong momentum in beyond-cables braking products.
SED recorded stellar revenue growth of 48% to Rs. 450 million, powered by strong business momentum in digital clusters and electronic throttle grips.
PLE operating revenue increased by 5.4% to Rs. 911 million, aided by initial deliveries to the largest US retailer, though Trifa brand sales to the Middle East remained subdued.
What drove margins
GCM EBITDA margin expanded significantly to 12.6% (a 174.6% increase over Q1 of last year) following the successful completion of major operational restructuring at the end of March 2026.
ICM operational EBITDA grew by only 4.2% to Rs. 425 million (margin down to 12.8%), while PLE operational EBITDA declined 45% to Rs. 61 million (margin down to 6.7%), due to wage inflation, labor shortages, and strategically delayed price increases.
The higher effective tax rate in the consolidated financial statements was driven by ongoing losses in certain subsidiaries with unrecognized deferred tax assets, resulting in lower consolidated profit before tax.
05 · Demand, customers & order book
Where demand is coming from
GCM secured a significant inflow of new business wins during Q1 across China, Mexico, and India, with US OEMs and China's largest OEM serving as key growth drivers.
PLE commenced ramp-up of deliveries to the USA's largest retailer following the award of significant additional business.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Braking products such as Combined Braking Systems (CBS) grew over 110% and brake shoes/pads grew over 80% within the ICM division.
Geography and market mix
For Q1 FY27, geographic distribution stood at 60% global and 40% domestic markets, compared to 56% global and 44% domestic in FY2025-26.
Sectoral mix for Q1 FY27 comprised 46% automotive (non-2W), 26% two-wheelers, 13% aftermarket, and 15% non-automotive segments.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
In response to strong new business wins and a 100% jump in operating EBITDA (to Rs. 42 million), SED initiated a capacity expansion plan at its Indian electronics facility.
Projects, capex and execution
Construction of the new STC building in Bangalore is progressing well and remains on track for completion during the third quarter of FY27.
08 · Strategy & new businesses
How the company is trying to change its growth mix
STC continued driving programs in digital clusters, actuators, sensors, and braking products, including ongoing satisfactory development of ABS in partnership with Italian startup Blubrake.
STC and ICM were jointly awarded the Most Innovative Supplier award by Ather, while SED received ACMA's award for Excellence in Manufacturing and Mahindra's Supplier Excellence award for Extraordinary Performance.
09 · Reported developments
What changed operationally
Achieved highest-ever quarterly operating revenue of Rs. 1,070 crore (Rs. 10,695.77 million) with consolidated revenue growing 24% and EBITDA surging 57.5% year-over-year.
GCM division demonstrated strong operational recovery with 27.6% revenue growth and a 174.6% increase in EBITDA following the completion of restructuring.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Total group debt stood at Rs. 7,755 million as of June 30, 2026 (comprising long-term debt of Rs. 2,199 million and short-term debt of Rs. 5,556 million), down from Rs. 7,850 million as of March 31, 2026.
Group investments in mutual funds and bonds increased to Rs. 2,431 million as of June 30, 2026, compared to Rs. 2,365 million in March 2026.
11 · Management guidance & targets
What management is targeting from here
Management stated that the overall annual guidance provided in the press release dated May 25, 2026, holds good for the year despite cost-push inflation, targeting consolidated business growth of 5% to 10% above global industry average while maintaining double-digit margins.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Corrigendum Notice
The company issued a corrigendum clarifying that references to 'Phoenix Lamps & Electricals (PLE)' should read as 'Phoenix Lighting & Electricals (PLE)'.
13 · Previous-quarter changes
What changed since the previous quarter
Consolidated operating revenue rose to Rs. 10,695.77 million in Q1 FY27 from Rs. 10,419.29 million in Q4 FY26.
14 · Key Q&A
The quarter, answered directly
What does Suprajit Engineering do?
Suprajit Engineering Limited is a prominent global manufacturer of automotive and non-automotive components, holding a leading position in mechanical control cables with production exceeding 300 million cables annually across more than 20 applications in cars and over 5 applications in two-wheelers and off-highway equipment.
What is the clearest takeaway from Q1 FY27?
Suprajit Engineering Limited posted its highest-ever quarterly operating revenue of Rs. 1,069.58 crore (Rs. 10,695.77 million) for Q1 FY27, reflecting a robust consolidated revenue growth of 24% over the corresponding quarter of the previous year as reported in the company's investor presentation.
What drove revenue or demand?
GCM revenue grew 27.6% year-over-year to Rs. 6,025 million, driven by robust new project ramp-ups with US OEMs and China's largest OEM against a muted global market backdrop.
What mattered most for margins or profitability?
GCM EBITDA margin expanded significantly to 12.6% (a 174.6% increase over Q1 of last year) following the successful completion of major operational restructuring at the end of March 2026.
What changed operationally beyond the headline numbers?
In response to strong new business wins and a 100% jump in operating EBITDA (to Rs. 42 million), SED initiated a capacity expansion plan at its Indian electronics facility.
What is management guiding or targeting from here?
Management stated that the overall annual guidance provided in the press release dated May 25, 2026, holds good for the year despite cost-push inflation, targeting consolidated business growth of 5% to 10% above global industry average while maintaining double-digit margins.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Price Realization in Q2 and Q3: Monitor the successful implementation of new pricing in ICM and PLE divisions to verify expected margin recovery in the subsequent two quarters.
- 02
STC Facility Commissioning: Track the completion of the new Suprajit Technology Center building in Bangalore scheduled for Q3 FY27.
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