Studds Accessories Q1 FY27 Revenue Up 13.7% to ₹169.7 Cr
Studds Accessories Limited reported its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. Net revenue from operations increased by 13.7% year-on-year to ₹169.7 crore, driven by stable demand. However, EBITDA margin declined to 11.5% from 20.3% in the prior year quarter due to elevated styrene-based raw material prices and incremental wage costs. The company has implemented a ~9% price hike, with the full benefit expected from Q2 FY27. Margin recovery is anticipated, with EBITDA margins projected at 14-15% in Q2 FY27E and 18-20% in Q4 FY27E. Expansion plans include a new helmet capacity of 1.5 million units per annum by October 2026 and international expansion in Italy.
Key Highlights
- Revenue grew 13.7% YoY to ₹169.7 Cr in Q1 FY27.
- EBITDA margin declined to 11.5% due to raw material costs.
- A ~9% price hike is expected to improve margins from Q2 FY27.
- Capacity expansion and international operations are progressing.
- Strategic engagement with Decathlon is underway.
Price Impact
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