Divgi Torqtransfer Systems LimitedAutomobilesDIVGIITTS
Q1 FY27 concall · earnings callDivgi Torqtransfer Systems Limited
The company delivered record quarterly revenue and profit, driven by strong execution of the Indonesia transfer case order, export growth, and expanding pipeline across multiple new transmission technologies.
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Revenue | ₹141.8 Cr | 85% YoY | |
| EBITDA | ₹41.6 Cr | 118% YoY | |
| EBITDA Margin | 29.4% | — | |
| PAT | ₹25.2 Cr | 183% YoY |
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹52.51 Cr-16.7% YoY-2.7% QoQ | ₹5.24 Cr-44.1% YoY-33.2% QoQ | ₹1.71-44.1% YoY-33.2% QoQ |
| Q2 FY25 | ₹53.96 Cr-21.5% YoY-0.5% QoQ | ₹7.84 Cr-26.9% YoY+31.5% QoQ | ₹2.56-27.1% YoY+31.3% QoQ |
| Q1 FY25 | ₹54.23 Cr-4.1% YoY-16.6% QoQ | ₹5.96 Cr-42.9% YoY-35.3% QoQ | ₹1.95-42.8% YoY-35.2% QoQ |
| Q4 FY24 | ₹65.06 Cr-11.3% YoY+3.2% QoQ | ₹9.21 Cr-31.5% YoY-1.7% QoQ | ₹3.01-36.6% YoY-1.6% QoQ |
| Q3 FY24 | ₹63.05 Cr— YoY-8.3% QoQ | ₹9.37 Cr— YoY-12.6% QoQ | ₹3.06— YoY-12.8% QoQ |
- Record quarterly revenue of Rs 141.8 Cr, up 85% YoY and 25% QoQ.
- EBITDA at Rs 41.6 Cr with margin expanding to 29.4%.
- Export business contributed ~16% of revenue, rebuilding from near-zero.
- Progress on global expansion: Indonesia program execution and Project Mayflower (U.S. manufacturing subsidiary) launched.
- Focus on diversifying into automatic/manual transmissions, EVs, and other drivetrain technologies beyond traditional transfer cases.
“All the cylinders are now beginning to fire together. Transfer cases, EV transmissions, components, exports, and emerging transmission opportunities... This gives us a much stronger and more diversified foundation to grow better, stronger, and faster.”
| Topic | What management said |
|---|---|
| U.S. Plant (Project Mayflower) Investment | Directional first phase investment of about $5 million for a small facility in South Carolina, targeting commissioning in second half of Calendar '28 or 2029. |
| Export Revenue & Order Book | Export contributed around Rs 23 crores for the quarter (~16% of revenue). The Indonesia order (70,000 transfer cases) is being executed through Indian OEMs, with about 30% dispatched in Q1 and the balance over the next 10-12 months. |
| Future Growth Pillars Timeline | Manual transmission for LCV expected to start revenue next year (FY28); automatic transmission expected earliest in second half of 2028. Transfer case shipments to South Africa are expected to start next year (April '28-March '29). |
| EV Transmission Outlook | Forecast for EV transmission revenue has increased to Rs 10-12 crores per quarter from Rs 7-8 crores, driven by higher schedules from Tata Motors and active discussions with Korean and other international OEMs. |
| Target Revenue & Margin Sustainability | Focus is on roadmap to first reach Rs 1,000 crores. On margins, management aims to sustain 20%-22% EBITDA range, citing the need to be competitive while delivering returns for product leadership risks. |
- Expect further momentum in transfer case business through FY '27 from pickup truck programs, new platforms, and facelifts.
- EV transmission schedules are seen as extremely strong for remaining quarters of the year, with forecasts rising.
- Targeting to cross the Rs 1,000 crore revenue milestone by building chunks of business across exports, transfer cases, EVs, manual transmissions, and eventually automatic transmissions.
Summary written from the transcript filed by Divgi Torqtransfer Systems Limited for the call held on 12 Aug 2026; published 22 Aug 2026, 19:46 IST.
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