| Revenue growth | Q2 +18.6%; H1 +16.2% YoY |
|---|---|
| Margins | Q2 EBITDA margin 12.4% vs 19.3%; styrene costs weigh |
| Demand visibility | Demand robust domestically and internationally per management |
| Management confidence | Demand robust; margin recovery depends on raw materials |
Growth
Q2 EBITDA ₹22.8 Cr, margin 12.4% (vs 19.3%); H1 EBITDA ₹42.3 Cr, margin 12.0%. Exports +49.2% to ₹79.4 Cr.
Outlook
Medium-term ₹1,000 Cr revenue aspiration, exports 25-30%. Phase 1 capacity (+1.5 mn units) live; Phase 2 in 18-24 months.
Risks
Styrene-based raw material costs spiked on crude volatility; calibrated price hikes only partly offset margin compression.
Last quarter's promises, checked
Delivered
- Phase 1 +1.5mn units guided Sep/Oct'26 → live 30 Oct'26 (= BEAT, on schedule)
Partly delivered
- FY27 high-teens revenue → H1 +16.2%, Q2 +18.6% (= PARTIAL)
- Exports closer to 30% → medium-term 25-30%; Q2 exports +49.2% (= PARTIAL)
Missed
- Q2 EBITDA margin 14-15% → 12.4% (= MISS)
- Full ~9% price pass-through from Q2 → calibrated hikes only partly offset compression (= MISS)
- Riding jackets commercial ~Q2 FY27 → launching Nov'26 (= MISS)
Investor Presentation filed with NSE, NSE: STUDDS. Summary written with AI assistance from the document.
Studds Accessories Ltd: key numbers
- Share price
- ₹394.00
- Market cap
- ₹1,551 Cr
- Revenue (annual)
- ₹634.2 Cr
- Net profit (annual)
- ₹82.65 Cr
- P/E (TTM)
- 20.8×Sector 30.5×
- Promoter holding
- 61.80%+0.05% QoQ
- FII holding
- 1.30%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Studds Accessories Ltd
All →Studds Accessories Employee Stock Options
Studds Accessories granted 1,30,000 ESOPs to eligible employees under its 2026 scheme at an exercise price of Rs 334.90. Options vest over time, converting to equity shares on exercise.
Studds Accessories Results Update
Studds Accessories disclosed Key Performance Indicators for the six months ended Sep 30, 2026 and fiscal 2026. Standalone revenue from operations was ₹349.41 Crore for the six months, up 15.55% year-on-year.
Studds Accessories Q2 FY27 Results: Net Profit ₹14.7 Cr, Down 28.6% YoY
Studds Accessories Ltd reported revenue from operations of ₹183.1 Cr (+18.6% YoY) and net profit of ₹14.7 Cr (-28.6% YoY) for Q2 FY27.
- Key figure
- Net profit ₹14.7 Cr · -28.6% YoY
Studds Accessories Production Started
Studds Accessories commenced commercial production at its Manufacturing Facility-V in Faridabad on October 30, 2026, after receiving Consent to Operate. No capacity or monetary value was disclosed.
Studds Accessories Board Meeting Date
Studds Accessories will hold a board meeting on October 31, 2026 to approve unaudited results. The trading window stays closed until 48 hours after declaration.
Studds Accessories Other Announcement
The company has submitted its quarterly shareholding pattern under Regulation 31(1)(b) for the quarter ended September 30, 2026.