SJS Enterprises (SJS) Q2 25/26 earnings summary

Executive summary

• Achieved highest-ever quarterly revenue and profitability in Q2 FY26, with 25.4% YoY revenue growth to INR 2,417.6 million, outpacing industry growth of 9.5% YoY, and robust export growth of 40.9% YoY.

• Outperformed industry for 24 consecutive quarters, driven by strong growth in two-wheeler (44.3% YoY) and passenger vehicle (16.5% YoY) segments.

• Signed MoU with BOE Varitronix for automotive display solutions and manufacturing, marking entry into advanced display technologies and capacity expansion at Pune.

• Expanded customer base with new wins including Nissan, River EV, Azad, SAME Deutz-Fahr tractors, Whirlpool, and Stellantis.

• Recognized with multiple industry awards, including Great Place to Work, ACMA Kaizen, and CII's Leading CFO of the Year.

Financial highlights

• Q2 FY26 consolidated revenue: INR 2,417.6 million, up 25.4% YoY; EBITDA: INR 728.4 million, up 40.9% YoY, margin at 29.6%; PAT: INR 432.7 million, up 48.4% YoY, margin at 17.9%.

• H1 FY26 revenue: INR 4,514.1 million, up 18.4% YoY; EBITDA margin at 28.7%.

• Free cash flow to firm: INR 677.7 million; net cash position: INR 1,588.8 million as of Sep 30, 2025.

• Domestic sales grew 24.0% YoY; exports grew 40.9% YoY, forming 9.6% of Q2 revenue.

• Standalone revenue for Q2 FY26 was INR 1,453.06 million, with net profit at INR 323.19 million.

Outlook and guidance

• Revised FY26 guidance to outperform industry growth by over 2.5x, with over 90% of forecasted revenue already in the order book.

• Targeting export revenue share of 14%-15% by FY28, up from current 9.6%.

• Focus on scaling premium aesthetic solutions, innovation, and global OEM relationships.

• Capacity expansions in Bangalore, Pune, and new greenfield projects underway, including optical cover glass and display business.

• High cash flow generation expected to support expansion and new product development.