Earnings Call Transcript Q2 FY27

November 10, 2026 National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Corporate Relationship Department, Plot No. C/1, G Block, 2nd Floor, New Trading Wing, Bandra – Kurla Complex, Rotunda Building, P.J. Towers, Bandra (E), Mumbai -400 051 Dalal Street, Mumbai – 400 001 Symbol: SJS Scrip Code: 543387 ISIN: INE284S01014 Dear Sir/Madam, Subject: Transcripts of Analysts/Investor Meet/ Earnings Call of the Company pertaining to Q2 of FY 2026-27 Please find enclosed the transcripts of the Analysts/Investor Meet/ Earnings Call of Q2 FY 2026-27 held on November 05, 2026 at 11.00 am (IST). You are requested to kindly take the same on record. Thanking you. Yours faithfully, For S.J.S. Enterprises Limited Thabraz Hushain W. Company Secretary and Compliance Officer Membership No.: A51119 Encl: As above SJS Enterprises Limited Q2 & H1FY27 Earnings Conference Call Nov 05, 2026 Management: Mr. K.A. Joseph – Managing Director & Promoter Mr. Sanjay Thapar – Group CEO & Executive Director Mr. Mahendra Naredi – Group Chief Financial Officer Ms. Devanshi Dhruva – Head – Investor Relations Analyst: Mr. Jay Kale – Elara Capital Page 1 of 19 SJS Enterprises Limited November 05, 2026 Moderator: Ladies and gentlemen, good day and welcome to SJS Enterprises Limited Q2 FY 2027 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing “*” then “0” on your touch- tone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Jay Kale from Elara Capital. Thank you, and over to you, Sir. Jay Kale: Thank you, and good morning, everyone, and Season's Greetings to all. On behalf of Elara Capital, I welcome you to the Q2 FY 2027 Earnings Conference Call of SJS Enterprises Limited. From the Management Team, we have with us today Mr. K. A. Joseph – Promoter and Managing Director; Mr. Sanjay Thapar – Group CEO and Executive Director; Mr. Mahendra Naredi – Group CFO; and Ms. Devanshi Dhruva – Head Investor Relations. I would now hand over the call to Ms. Devanshi Dhruva for her opening remarks. Over to you. Devanshi Dhruva: Thank you, Jay, and good morning, ladies and gentlemen. We appreciate you joining us on today's Conference Call. We will begin the call with opening remarks from Mr. K. A. Joseph – our Managing Director, followed by a business and industry overview from Mr. Sanjay Thapar – our Group CEO and Executive Director. After that, Mr. Mahendra Naredi – our Group CFO, will walk us through the financial performance for the quarter. We will then open the floor for questions. Please note that the duration of this call is expected to be around 60 minutes, with the first 20 minutes reserved for our prepared comments. Should there be enough time for all questions, please feel free to reach out to us via email, and we will respond to your inquiries at the earliest. Thank you once again for your time today and with that, I will now hand it over to Mr. Joseph for his opening remarks. Over to you, Joseph sir. K. A. Joseph: Yes. Thank you, Devanshi, and good morning, everyone. I trust you all had an opportunity to review our Investor Presentation and the Financial Results for the 2nd quarter and the first half of FY 2027. India's automotive industry grew production volumes by 17.8% in Q2FY2027, led by passenger vehicles at 24.9% and two-wheelers at 16.5%. Premiumization and the growing adoption of advanced features continue to expand our content per vehicle opportunity. In Q2 FY 2027, SJS SJS Enterprises Limited November 05, 2026 witnessed a steady growth of 21.7% YoY in automotive driven by premium products, higher content per vehicle, and deeper OEM relationships. Consolidated revenue rose by 16.9% YoY to Rs. 2,827.3 million, led by robust growth in passenger vehicle and exports. H1FY2027 revenue grew by 20.4% to Rs. 5,437.3 million. PAT for the quarter stood at Rs. 583.3 million, with a margin of 20.6%, highest since our IPO. H1FY2027 reported PAT of Rs. 1,327.5 million. Higher exports, favorable product mix, and operational efficiency remain central to sustaining profitability as we scale. On the capacity expansion front, our new SJS Decoplast chrome plating facility in Pune commenced operations in August of 2026, and the Bangalore plant expansion is also complete, with commercial production starting in Q3 of FY2027. Further, the consolidation of Walter Pack's three Ranjangaon facilities into a single integrated larger plant will drive operational efficiency and support future growth. With a net cash of Rs. 3,318.7 million at the end of September 2026, we have the flexibility to fund capex, strategic initiatives, and potential acquisitions. Going forward, we remain focused on innovation, premium products, and international expansion. Our design and R&D strengths, customer relationships with new program pipeline positions SJS well for profitable growth. Now, I hand over to Sanjay for the business and industry highlights. Over to you, Sanjay. Sanjay Thapar: Thank you, Joe, and good morning, everyone. We concluded the first half of FY2027 with steady progress on both financial performance and strategic priorities. Our focus on premiumization, deeper customer relationships, and investments in technology and capacity continue to create new business opportunities, increasing our content per vehicle and widening our presence across automotive and consumer applications. Let me take you through the key updates for the quarter and half year: In Q2FY2027, consolidated revenue grew 16.9% year-on-year to Rs. 282.73 crore, driven by passenger vehicles and a rising contribution from exports. Our automotive business grew 21.7% against industry production growth of 17.8%. Our ability to supply multiple aesthetic products across customer platforms continues to drive growth ahead of industry volumes. Uncertain macros, prolonged geopolitical conflicts, and a planned rationalization of low-margin SKUs with Walter Pack India Consumer OEM softened the consumer segment performance, partly offsetting strong growth in the automotive and export segments. Further, two-wheeler growth was led by scooters, 30.1% year-on-year growth for Q2 over motorcycles, which was 9.8% year-on-year growth, which is the core SJS segment that we focus on, a gap that has widened significantly this year. SJS Automotive business grew 21.7% against a 13.2% industry growth for passenger vehicles and motorcycles combined, indicating an SJS Enterprises Limited November 05, 2026 outperformance by SJS and continued share gains even as scooters, where SJS has limited presence, outpaced motorcycles. EBITDA rose 23.1% year-on-year to Rs. 896.4 million, with a margin of 31%, supported by better product mix, higher exports, and operating efficiency. Despite moderate revenue growth, EBITDA has continued its steady upward trajectory, reflecting the strength of our margin profile and disciplined execution. PAT grew 34.8% to Rs. 583.3 million, with a margin of 20.6%. On the capacity front, new chrome plating facility at SJS Decoplast in Pune commenced operations in August 2026, adding 2x capacity and flexibility for new customer programs and emerging opportunities. Our Bengaluru facility expansion is complete with a 20% capacity addition and commercial production likely to start in Q3. SJS Display Electronics Private Limited is setting up an automotive display facility in Pune, which will become operational in Q2 of FY 2028. We have also acquired the balance 9.9% equity stake in Walter Pack India, making it a wholly owned subsidiary of SJS Enterprises. With full ownership, Walter Pack is consolidating three Ranjangaon plants into one large facility for efficiency and growth, and it is expected to commence operations by May 2027. We will continue to align the [Showing first 8,000 characters — download PDF for full document]