Dhoot Transmission (DHOOTTRANS) Q1 26/27 earnings summary

Executive summary

• Revenue from operations for Q1 FY27 rose 49.7% year-over-year to INR 14,464.15 million, with consolidated EBITDA up 29.0% to INR 2,184 million and an EBITDA margin of 15.1%.

• EV segment revenue grew 79.2% YoY, now contributing 27% of total revenue, up from 24% last year.

• Multilink acquisition contributed 3% to quarterly revenue, with integration expected to complete by end of Q3 or early Q4 and anticipated to drive further cross-selling and product expansion.

• The quarter marks the first reporting period after the IPO and listing on NSE and BSE on August 17, 2026.

• Integration of Multilink and collaboration with Ride Vision (ADAS JV) progressing well.

Financial highlights

• Wiring harness revenue: INR 1,090 crore in Q1 FY27 vs INR 753 crore in Q1 FY26 (44.6% YoY growth); non-wiring harness revenue: INR 358 crore in Q1 FY27 vs INR 230 crore in Q1 FY26 (67.7% YoY growth).

• EBITDA: INR 2,184 million (+29.0% YoY, +22.1% QoQ); EBITDA margin: 15.1%.

• PAT: INR 1,327 million (+37.8% YoY, +39.1% QoQ); Basic and diluted EPS for the quarter was INR 7.04.

• Debt at end of June: INR 220 crore; expected net cash of ~INR 1,000 crore by end of August post-IPO.

• Finance costs declined due to equity infusion and working capital optimization.

Outlook and guidance

• Confident of delivering 25%-30% revenue growth for the year, with margin guidance maintained at 15%-16% despite raw material cost pressures.

• EV revenue expected to exceed 32% of total revenue in 2-3 years, driven by industry electrification.

• Capacity expansion underway at Jhajjar and Hosur plants to add 15%-20% capacity this year.

• Electrification trend is accelerating, driving both wiring and non-wiring harness business growth.

• IPO proceeds utilization update will be provided in the next reporting period based on actual fund deployment.