NDR Auto Components543214Quarterly results

Q2 results, capex for Maruti and Suzuki programmes, Korea JV and postal ballot approved

Board approved unaudited standalone and consolidated results for the quarter and six months ended 30 September 2026; the limited review reports carry no qualification or adverse remark, with an emphasis of matter on an Income Tax search.

By ScoutQuest · Wed 4 Nov 2026, 1:22 PM IST · 3 min read

Consolidated · ₹ lakh · EPS in ₹
Line item	Latest	Year ago	YoY	Prev qtr	QoQ
Revenue from operations	24,401.81	19,995.61	+22%	22,145.27	+10.2%
Total income	24,786.23	20,076.55	+23.5%	22,255.07	+11.4%
Profit before tax	2,494.83	1,960.18	+27.3%	2,110.11	+18.2%
Profit after tax	1,977.98	1,484.60	+33.2%	1,640.34	+20.6%
Total comprehensive income	1,977.98	1,483.92	+33.3%	1,640.38	+20.6%
Basic EPS	8.32	6.24	+33.3%	6.90	+20.6%

Total Income (Consolidated): Latest 24,786.23; Year ago 20,076.55 (+23.5%); Prev qtr 22,255.07 (+11.4%)
Profit After Tax (Consolidated): Latest 1,977.98; Year ago 1,484.60 (+33.2%); Prev qtr 1,640.34 (+20.6%)
Units: figures in Lakhs
Period: Quarter Ended 30-09-2026 (Unaudited)

Also decided at the meeting

Approved additional capex for plants at Naviyani, Gujarat and Kharkhoda, Haryana of Rs. 11.34 crore and Rs. 7.19 crore respectively for new Maruti Suzuki and Suzuki Motorcycle programmes.
Approved Postal Ballot Notice seeking approval to enhance the limit of Material Related Party Transactions with Bharat Seats Limited.
Approved alteration of Object clause 3(a) of the MoA to add consultancy, advisory and support services to the automotive sector, subject to special resolution.
Approved investment of Rs. 36.30 Lakhs in equity shares of an SPV, in one or more tranches, for sourcing captive solar power.
Approved a Joint Venture Agreement with DYA Co., Ltd. (Korea) for passenger car seats; NDR to hold 51% and DYA 49% in the proposed JV company, which will become a subsidiary.

Auditor's review

Conclusion: Unmodified

Emphasis of matter: note 4 describes uncertainty over the outcome of an Income Tax search under Section 132 conducted in an earlier year at Company premises; conclusion not modified.

Notes to the results

In FY 2025-26 the Group recognised exceptional items of Rs. 64.75 lakhs towards employee benefit obligations from implementation of the Code on Wages, 2019.
Income tax search: demand orders reduced from Rs. 510.39 lakhs to Rs. 414.42 lakhs by CIT(A); appeals pending before ITAT; no adjustment made pending outcome.
During the quarter the Holding company granted 66,641 stock options at an exercise price of Rs. 500.50 per option under ESOP 2024.
Group discontinued recognising its share of losses of Rs. 12.37 lakhs in Toyota Boshoku Relan India Private Limited (JV) after losses exceeded investment of Rs. 0.50 lakhs.

Board meeting of 4 November 2026

The board of NDR Auto Components met on 4 November 2026 and approved a set of decisions covering the September-quarter results, fresh capital expenditure, a solar power investment, a joint venture and a postal ballot.

Results and the auditor's review

The board approved unaudited standalone and consolidated financial results for the quarter and six months ended 30 September 2026. The company states the limited review reports of the statutory auditors did not contain any qualification, adverse remark or modified opinion. The auditors state that nothing came to their attention that causes them to believe the statements contain any material misstatement.

Consolidated Revenue from operations for the quarter ended 30 September 2026: 24,401.81 lakhs; Net Profit for the period: 1,977.98 lakhs.
Standalone Net Profit for the period for the same quarter: 1,759.54 lakhs.

Emphasis of matter

Both review reports draw attention to note 4, which describes the uncertainty relating to the outcome of a search conducted by the Income Tax Department in an earlier year under Section 132 of the Income Tax Act, 1961 at certain premises, including manufacturing locations and the residence of a few employees and key managerial personnel. The auditors state their conclusion is not modified in respect of this matter. The notes record that additions made earlier were partly deleted on appeal and that certain matters are pending before the Income Tax Appellate Tribunal and the CIT(A); management believes it has a favourable position and no adjustment has been made in the results.

Capital expenditure

The board approved additional capital expenditure for new programmes of Maruti Suzuki India Limited and Suzuki Motorcycle India Private Limited in the ordinary course of business:

Rs. 11.34 crore for the plant at Naviyani, Gujarat.
Rs. 7.19 crore for the plant at Kharkhoda, Haryana.

Solar power SPV

The board approved investment in the equity shares of a Special Purpose Vehicle amounting to Rs. 36.30 Lakhs, in one or more tranches, for sourcing power through captive solar power energy.

Joint venture with DYA Co., Ltd

The board approved entering into a Joint Venture Agreement with DYA Co., Ltd, a company incorporated under the laws of the Republic of Korea and listed on the Korean Exchange, for design, manufacture and supply of passenger car seats in India, primarily for supply to Kia India and Hyundai India. For this purpose a joint venture company is proposed to be incorporated in India in which NDR will hold 51% and DYA 49%. On incorporation, the JV company will become a subsidiary of the company.

Postal ballot

The board approved a Notice of Postal Ballot seeking shareholders' approval for

Enhancement of the limit of Material Related Party Transactions with Bharat Seats Limited.
Alteration of Object clause 3 (a) of the Memorandum of Association. A new sub-clause 3 would cover providing consultancy, advisory and support services to all types of industry in the automotive sector, including marketing, technical, management, finance, legal, human resources and administrative support. Existing sub-clauses (3) and (4) are to be re-numbered as (4) and (5) without any change. The alteration requires a special resolution of members and approval of the Registrar of Companies (Delhi).

Employee stock options

During the quarter the company granted 66,641 stock options under the Employee Stock Option Plan, 2024, subject to satisfying specified vesting criteria based on market condition and performance conditions.

24,401.81 lakhsConsolidated Revenue from operations

Total income, quarter22,255.07 (Rs. in lakhs)

Total comprehensive income, latest quarter1,977.98 (Rs. in lakhs)

Consolidated Revenue from operations 24,401.81 lakhs: Total income, quarter 22,255.07 (Rs. in lakhs), Total comprehensive income, latest quarter 1,977.98 (Rs. in lakhs).

51%NDR shareholding in JV with DYA Co., Ltd

NDR shareholding in JV with DYA Co., Ltd: 51%.

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