Talbros Automotive Components Ltd Q4 Result and Earning's call Analysis 1. Talbros delivered its strongest quarterly performance in Q4 FY26, with consolidated revenue ₹237 crore, EBITDA of ₹45 crore, EBITDA margin of 18.7%, and PAT of about ₹32 crore. 2. FY26 was more moderate than Q4 suggests: consolidated FY26 revenue was about ₹888 crore, up roughly 5% YoY, while EBITDA reached ₹155 crore and PAT crossed ₹104 crore. 3. The biggest positive was business mix and operating leverage, especially in gaskets/heat shields and in both JVs, which posted strong growth and margin progression. 4. Gasket & Heat Shield remains the profit anchor, contributing 52% of revenue and benefiting from OEM demand, premium vehicle exposure, exports, and higher-margin heat shield products. 5. Forging recovered in Q4 after export weakness in Q2/Q3, but margins were softer due to pass-through pricing resets and FX adjustments, so the segment is improving but not yet fully normalized. 6. Marelli Talbros Chassis Systems was the standout growth engine, with FY26 revenue up 21% and EBITDA up 35%, suggesting the JV is scaling faster than the parent standalone business. 7. Management’s central message is that Talbros is shifting from an “order win” phase to an “execution/commercialization” phase, with several delayed programs now expected to begin in FY27. 8. FY27 guidance is clear: revenue growth of 15–20% and EBITDA margin of 17–18%, supported by ₹150–160 crore of new business commercialization plus underlying industry growth. #Talbros #Q4Results #EarningsCall #AutoComponents #IndianStocks #FundamentalAnalysis #LongTermInvesting #StockMarketIndia @AethosWealth

Steel Strip Wheels, good to add for the target of 251 , 280 if it crosses 236 and sustains. Huge volume. SL- 219.