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Key Conference Call Highlights

ADS (Aerospace, Defence and Semiconductor) Business Highlights:

* ADS business revenue increased 155.0% YoY to INR 3,155 Mn in FY26, in line with management guidance. Q4FY26 ADS revenue stood at INR 1,097 Mn, more than doubling YoY, led by strong aerospace and semiconductor demand

* The management guided FY27 ADS revenue at INR 5,500–6,000 Mn, supported by strong order visibility and capacity addition

* Cumulative unexecuted ADS order backlog stood at INR 44,638 Mn, executable over the next five years

* Aerospace business recorded 63.0% YoY growth, aided by increased outsourcing opportunities and higher global aircraft production

* The company expanded machining capability from 1.5-metre components to complex 4-metre structural aerospace parts

Automotive Business Performance

* Auto ICE business reported the highest-ever quarterly revenue of INR 6,426 Mn, registering 21.6% YoY growth

* PV segment delivered strong, broad-based growth across OEMs, while CV segment growth was supported by robust demand momentum

* Auto tech-agnostic and xEV segment recorded the highest-ever quarterly revenue with 19.8% YoY growth

* Non-auto business revenue increased 70.5% YoY to INR 1,736 Mn in Q4FY26, led by ADS growth

* The management expects a strong domestic OEM capex activity and outsourcing opportunities to support growth across ICE and tech-agnostic businesses

Order Book and Growth Outlook

* Peak annual revenue order book for new business stood at INR 19,194 Mn as of March 26

* The management reiterated the long-term strategy of increasing contribution from non-auto and xEV businesses to nearly 40% of the overall revenue mix

* Emerging businesses, including ADS, xEV and tech-agnostic segments, contributed nearly 30–32% of revenue in FY26

* The management highlighted the visibility of achieving INR 80,000–82,000 Mn revenue opportunity over the longer term, supported by a strong order pipeline

* Export order inflows remained soft this quarter due to global uncertainty, though the management expects a gradual recovery over the next few quarters

Capex and Expansion Plans

* FY26 capex stood at INR 5,097 Mn, primarily towards plant & machinery expansion and ADS capacity augmentation

* The management expects FY27E capex to remain at similar levels with investments focussed on ICE expansion, ADS facilities and machining capacity addition

Strategic Developments

* The company signed a JV with Nichidai Corporation to manufacture advanced forged and machined components for differential assemblies, driveline and compressor applications

* Sansera will invest nearly INR 500 Mn in the JV in multiple tranches

* Commercial operations of the JV are expected to commence in Q3FY27E

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