News ArticleStudds Accessories Reports 18.6% Revenue Rise in Q2 FY27 Despite Profit Margin Challenges
Company expands production capacity with new facility, strengthens European presence through Italian subsidiary, targets ₹1,000 crore revenue
Studds Accessories Limited announced its Q2 and H1 FY27 consolidated financial results, reporting revenue growth of 18.6% in Q2 and 16.2% in H1. Despite higher raw material costs impacting profits, the company expanded manufacturing capacity and strengthened European market operations, aiming for ₹1,000 crore revenue in the medium term.
Studds Accessories Limited
General / Other
Studds Accessories Limited reported consolidated revenue of ₹183.1 crore for Q2 FY27, up 18.6% year-over-year, and ₹352.8 crore for H1 FY27, a 16.2% increase, driven by strong domestic and export demand despite profit margin pressure from volatile raw material prices.
The company’s EBITDA for Q2 FY27 stood at ₹22.8 crore with a margin of 12.4%, declining from the previous year's 19.3%, affected by sharp increases in styrene-based raw material costs due to crude oil price volatility.
Profit after tax decreased to ₹14.7 crore in Q2 FY27 (8.1% margin), compared to ₹20.6 crore (13.4%) in Q2 FY26, reflecting cost pressures despite calibrated price increases to partially offset these impacts.
Studds commenced commercial production at a new manufacturing facility on October 30, 2026, adding 1.5 million units of annual capacity, supporting anticipated demand growth domestically and internationally.
The company established a wholly owned subsidiary in Italy to serve as a warehousing and distribution hub, enhancing its market presence across Europe.
In addition to helmets, Studds began in-house manufacturing of riding jackets and plans to launch Bluetooth-enabled rider communication systems in November 2026, diversifying its product portfolio.
Highlights
- Q2 FY27 revenue rose 18.6% year-over-year to ₹183.1 crore; H1 FY27 revenue up 16.2% to ₹352.8 crore.
- EBITDA margin declined from 19.3% in Q2 FY26 to 12.4% in Q2 FY27 due to raw material cost increases.
- New manufacturing facility adds 1.5 million units of annual helmet production capacity.
- Italian subsidiary established to develop warehousing and distribution hub for European markets.
- Product line expanding to include riding jackets and Bluetooth communication systems launching soon.
- Company aims for ₹1,000 crore revenue with exports contributing 25-30% in medium term.
Key Data Snapshot
What happened
- Studds Accessories declared its consolidated financial results for Q2 and H1 FY27 ending 30 September 2026.
- Revenue from operations increased 18.6% year-over-year in Q2 FY27 to ₹183.1 crore and 16.2% in H1 FY27 to ₹352.8 crore.
- Despite revenue growth, EBITDA declined due to sharp rise in styrene-based raw material costs triggered by crude oil price volatility.
- Profit after tax fell to ₹14.7 crore in Q2 FY27 from ₹20.6 crore in Q2 FY26.
- The company implemented calibrated price increases to partially offset rising input costs.
Key details
- Commercial production started at new manufacturing facility on 30 October 2026, adding 1.5 million units annual capacity.
- Studds established a wholly owned subsidiary in Italy for warehousing and distribution to strengthen European operations.
- Export average selling price rose from ₹1,600 in FY24 to ₹2,000 in H1 FY27, indicating improved product realizations.
- Company diversified product offerings by manufacturing riding jackets and planning Bluetooth-enabled rider communication systems.
- Plans to participate in EICMA Milan and India Bike Week in Nov 2026 to increase brand visibility and customer engagement.
Strategic context
- Studds aims to reach ₹1,000 crore revenue with 25-30% from exports over the medium term.
- Focus on expanding market penetration in US, Europe, and Latin America through distribution and product portfolio expansion.
- The company is leveraging its brand strength and operational capacity to capitalize on robust demand despite challenging raw material cost environment.
Highlights
- Q2 FY27 revenue rose 18.6% year-over-year to ₹183.1 crore; H1 FY27 revenue up 16.2% to ₹352.8 crore.
- EBITDA margin declined from 19.3% in Q2 FY26 to 12.4% in Q2 FY27 due to raw material cost increases.
- New manufacturing facility adds 1.5 million units of annual helmet production capacity.
- Italian subsidiary established to develop warehousing and distribution hub for European markets.
- Product line expanding to include riding jackets and Bluetooth communication systems launching soon.
- Company aims for ₹1,000 crore revenue with exports contributing 25-30% in medium term.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Source Information
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