Studds Accessories H1FY27 revenue up 16.2% to Rs 352.8 cr as styrene costs cut PAT 33.8%
H1FY27 revenue up 16.2% to Rs 352.8 cr, but EBITDA fell 29.6% and PAT 33.8% to Rs 27.0 cr on styrene-led cost rise.
By ScoutQuest · · 1 min read
- H1FY27 Revenue from Operations
- Rs 352.8 cr, up 16.2%
- H1FY27 EBITDA
- fell 29.6% to Rs 42.3 cr
- H1FY27 PAT
- down 33.8% to Rs 27.0 cr
- Period
- Q2 and H1 FY27 (quarter ended September 30, 2026)
- Positioning
- Studds says it is India's largest two-wheeler helmet maker by revenue (FY24) and the world's largest by volume (CY24), selling STUDDS and premium SMK helmets in 70+ countries.
📉 Revenue from operations rose 18.6% YoY to Rs 183.1 cr in Q2FY27 and 16.2% to Rs 352.8 cr in H1FY27, but EBITDA fell 29.6% to Rs 42.3 cr and PAT 33.8% to Rs 27.0 cr in H1; gross margin dropped to 53.7% from 58.9%. Export revenue grew 49.2% to Rs 79.4 cr in H1FY27.
📈 The company attributes the margin squeeze to crude-driven volatility in styrene-based input costs; management states calibrated price increases only partly offset this and that a sustained margin recovery depends on raw material prices stabilising.
🏭 The company says its new facility began commercial production on 30 Oct'26, adding 1.5 mn units to take capacity from 9.5 mn to 11.0 mn, with Phase 2 adding another 1.5 mn planned over the next 18-24 months. It is setting up an Italian subsidiary as a European warehousing hub and extending into riding jackets and Bluetooth communication systems.
🌍 The MD states the company remains on course for a medium-term aspiration of Rs 1,000 crore revenue with exports contributing 25% to 30%, citing opportunity in the US, Europe and Latin America; the deck backs this with FY23-26 PAT CAGR of 35.7% and zero net debt.
Also from Studds Accessories
Company unveils Stratos, Cygnus, Konnect and Link at EICMA 2026
3 Nov 2026
Studds Accessories makes audio recording of Q2 & H1FY27 earnings conference call available on website
3 Nov 2026
Studds Accessories Ltd press release, Q2 FY27
31 Oct 2026
More numbers
- Net revenue from operations, H1FY27352.8 (Rs. Cr)
- Revenue growth YoY, H1FY2716.2%
- Net revenue from operations, Q2FY27183.1 (Rs. Cr)
- EBITDA, H1FY2742.3 (Rs. Cr)
- EBITDA margin, H1FY2712.0%
- Profit after tax, H1FY2727.0 (Rs. Cr)
- PAT change YoY, H1FY27-33.8%
- Gross profit margin, H1FY2753.7%
- Export revenue, H1FY2779.4 (Rs in cr)
- Revenue from operations, FY26634.2 (Rs. Cr)
- Profit after tax, FY2682.7 (Rs. Cr)
- Medium-term revenue aspiration₹1,000 crore
- Capacity added, Phase 1 (mn units)1.5 million units
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