PPAP Automotive LimitedQ1 FY27 Results & Financial Update
PPAP Automotive Limited: Q1 FY27 consolidated results and company financials – revenue ₹156.38 Cr, PAT ₹0.87 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Find an answer
Ask this result
Chart · Market context
PPAP Automotive price & chart
Market price₹243.16
1Y return—Price return
Loading market chart…
TradingView Lightweight Charts™ · Copyright © 2025 TradingView, Inc.TradingView
Market chartPrice chart temporarily unavailableThe price chart could not be loaded right now. The reported financial results remain available above.
Spotted a factual error?Tell us the number, date or statement and we will re-check the underlying records and calculations.Report an error
Quarterly Results AnalysisExplore PPAP Automotive 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
PPAP Automotive delivered a strong start to FY27, reporting consolidated revenue from operations of INR 156.4 crore for the quarter ended June 30, 2026, marking a 34.1% increase year-on-year. Growth was propelled by favourable industry demand, model-based growth across key customer platforms, and improved execution.
Consolidated EBITDA grew by 33.3% year-on-year to INR 12.4 crore, reflecting improved operational performance and business momentum supported by higher volumes and operating leverage.
The company swung back to profitability at the consolidated level, posting a Profit After Tax (PAT) of INR 0.8655 crore (approximately INR 0.9 crore) compared to a net loss of INR 2.3 crore in the corresponding quarter of the previous year (Q1 FY26).
On a standalone basis, revenue from operations reached INR 144.2 crore, up 29.4% year-on-year, while standalone EBITDA rose 23.7% to INR 12.1 crore. Standalone PAT improved to INR 2.3 crore from a loss of INR 0.4 crore in Q1 FY26.
The operational performance was tempered by external cost pressures, specifically elevated raw material costs driven by ongoing geopolitical tensions in the Middle East.
During the quarter, the company secured lifetime orders worth approximately INR 131 crore, representing a 51.8% year-on-year surge. This order intake demonstrates strong momentum across both electric vehicle (EV) and internal combustion engine (ICE) segments.
Strategic developments included entering into a strategic partnership with Hutchinson to secure an exclusive license to manufacture, market, and sell advanced body sealing systems in India.
01 · Business model
What does PPAP Automotive do?
PPAP Automotive Limited, part of the Ajay Group, is a leading automotive components manufacturer with a diversified portfolio of polymer-based solutions. Established in 1978, the company began manufacturing custom-engineered extrusion products before entering the automotive sector in 1985 by supplying plastic profiles for Maruti's first-generation vehicles.
The company's product portfolio includes high-quality plastic extrusion systems, injection-moulded components, rubber-based sealing solutions, plastic injection moulds, and energy storage solutions.
PPAP operates manufacturing and distribution facilities across India, supplying major domestic and global original equipment manufacturers (OEMs).
Key customer relationships include Maruti Suzuki, Tata Motors, Toyota, Honda, Renault, Mahindra, and Suzuki Motor Gujarat (SMG).
02 · Historical context
What shaped the business before this quarter
Established in 1978 as a custom-engineered extrusion manufacturer, PPAP expanded into the automotive sector in 1985 by supplying plastic profiles for the first generation of Maruti vehicles.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹156.38 Cr |
| Total income | ₹158.49 Cr |
| Profit before tax | ₹1.16 Cr |
| Profit after tax | ₹0.87 Cr |
| EPS | ₹0.61 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 0.6% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 0.7% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹2.11 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue expansion was primarily driven by model-based growth across existing and newly launched vehicle models from key OEM customers.
Favourable industry tailwinds, higher vehicle production in the passenger vehicle industry, and improved execution across key customer platforms bolstered top-line growth.
What drove margins
Profitability margins during the quarter faced pressure from elevated raw material costs stemming from geopolitical disruptions in the Middle East.
05 · Demand, customers & order book
Where demand is coming from
Booked lifetime orders worth approximately INR 131 crore in Q1 FY27, registering a 51.8% year-on-year increase over Q1 FY26.
Order inflows were well-balanced across EV and ICE programs, with EV platforms contributing nearly INR 64 crore compared to approximately INR 11 crore in Q1 FY26.
06 · Reported developments
What changed operationally
Shifted from a consolidated net loss of INR 2.3 crore in Q1 FY26 to a consolidated PAT of INR 0.8655 crore in Q1 FY27.
Lifetime order wins grew 51.8% year-on-year to approximately INR 131 crore, led by a multi-fold increase in EV platform orders.
07 · Beyond the numbers
What changed beyond the numbers
Reported update
Hutchinson Technology Partnership
The exclusive license agreement with Hutchinson equips PPAP with advanced body sealing technology, strengthening its market position in passenger vehicle sealing solutions.
08 · Key Q&A
The quarter, answered directly
What does PPAP Automotive do?
PPAP Automotive Limited, part of the Ajay Group, is a leading automotive components manufacturer with a diversified portfolio of polymer-based solutions. Established in 1978, the company began manufacturing custom-engineered extrusion products before entering the automotive sector in 1985 by supplying plastic profiles for Maruti's first-generation vehicles.
What is the clearest takeaway from Q1 FY27?
PPAP Automotive delivered a strong start to FY27, reporting consolidated revenue from operations of INR 156.4 crore for the quarter ended June 30, 2026, marking a 34.1% increase year-on-year. Growth was propelled by favourable industry demand, model-based growth across key customer platforms, and improved execution.
What drove revenue or demand?
Revenue expansion was primarily driven by model-based growth across existing and newly launched vehicle models from key OEM customers.
What mattered most for margins or profitability?
Profitability margins during the quarter faced pressure from elevated raw material costs stemming from geopolitical disruptions in the Middle East.
What changed operationally beyond the headline numbers?
The exclusive license agreement with Hutchinson equips PPAP with advanced body sealing technology, strengthening its market position in passenger vehicle sealing solutions.
What should the next disclosure help confirm?
Monitor whether geopolitical conditions in the Middle East normalize and alleviate pressures on raw material costs.
09 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
10 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Raw Material Cost Stabilization: Monitor whether geopolitical conditions in the Middle East normalize and alleviate pressures on raw material costs.
- 02
EV Order Conversion: Observe the execution and revenue conversion of the robust EV order book, which reached approximately INR 64 crore in Q1 FY27.
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.