New Delhi: Studds Accessories Ltd, one of India’s leading two-wheeler helmet and motorcycle accessories manufacturers reported a 13.7 per cent year-on-year increase in consolidated revenue from operations to Rs 169.7 crore for the quarter ended June 30, 2026.
The company, however, saw its EBITDA decline to Rs 19.6 crore in the first quarter of 2026-27 from Rs 30.3 crore in the year-ago period, mainly due to higher styrene-based raw material prices, incremental wage costs and a lag in passing on higher input costs.
EBITDA margin stood at 11.5 per cent during the quarter, compared with 20.3 per cent in Q1 FY26. Profit after tax declined 39.3 per cent to Rs 12.3 crore in the June quarter from Rs 20.2 crore a year ago. PAT margin stood at 7.2 per cent against 13.6 per cent in the corresponding quarter last year.
The company said its underlying demand remained stable across key segments, supporting the growth in revenue. Studds has undertaken a price increase of around 9 per cent, of which nearly 5 per cent was effectively realised during Q1 FY27. The remaining benefit is expected to flow through from the second quarter onwards.
“With raw material prices beginning to moderate from July onwards, we expect the combined benefit of lower input costs and progressive price realisation to support a strong recovery in margins over the coming quarters,” Managing Director Sidhartha Bhushan Khurana said.
The company expects its EBITDA margin to improve to around 14-15 per cent in Q2 FY27 and further to 18-20 per cent in Q4 FY27 on a run-rate basis, subject to stable commodity prices.
Studds is also expanding its manufacturing capacity and plans to add 1.5 million helmets annually. The additional capacity is progressing as scheduled and is expected to commence operations by October 2026.
The company is also progressing on its strategic engagement with Decathlon to strengthen its presence in the organised and institutional segment.
On the international front, Studds said its expansion in Italy is progressing as planned, with commercial operations expected to commence from October 2026.
Khurana said the company remains optimistic about its growth outlook, supported by stable demand, capacity expansion, opportunities in domestic and international markets and moderation in styrene-based raw material prices.
The company expects these factors to support sustainable revenue growth and improvement in profitability in the coming quarters.
