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Divgi TorqTransfer Reports Record Q3 FY26 Income; Secures 70,000 Unit Export Order
Divgi TorqTransfer Systems achieved its highest-ever quarterly total income in Q3 FY26, with revenue run rates now approaching the INR 90-100 crore range. The company secured major export orders from Mahindra & Mahindra and Tata Motors for 35,000 units each for the Indonesian market, providing strong volume visibility for FY27. Performance for the first nine months of FY26 has already surpassed the full-year income levels of both FY24 and FY25. Management is also evaluating a manufacturing footprint in the United States to deepen its global presence.
Key Highlights
Achieved highest ever quarterly total income in Q3 FY26, surpassing the previous record set in Q2 FY26.
Secured exclusive supply orders for 70,000 pickup truck units (35k each for M&M and Tata) for the Indonesian market.
9M FY26 income levels have already exceeded the total annual income of both FY24 and FY25.
Quarterly revenue run rate is nearing the INR 90-100 crore range, signaling a new growth phase.
Successful proof of concept for a Japanese OEM platform with Start of Production (SOP) expected in H1 FY28.
💼 Action for Investors
The company is demonstrating strong execution and recovery with record-breaking financials and significant new export contracts. Investors should maintain a positive outlook given the clear medium-term volume visibility and strategic expansion into Japanese and US markets.
Divgi Torqtransfer Q3 PAT Surges 125% YoY; Secures Major Orders from M&M and Tata Motors
Divgi Torqtransfer reported its highest-ever quarterly revenue of ₹96.3 crore in Q3FY26, marking a 68% YoY growth. Net profit for the quarter skyrocketed by 125% YoY to ₹11.8 crore, driven by strong momentum in the transfer case and components segments. The company secured significant export-linked orders from Mahindra & Mahindra and Tata Motors for the Indonesian market, totaling approximately 70,000 units with production starting in CY26. Additionally, the export business showed robust growth, contributing 17% to the 9MFY26 revenue mix.
Key Highlights
9MFY26 Total Income rose 48% YoY to ₹261.4 crore, already surpassing full-year FY24 and FY25 levels.
Q3FY26 PAT grew 125% YoY to ₹11.8 crore with a healthy EBITDA margin of 24.3%.
Secured exclusive transfer case orders for ~70,000 units from M&M and Tata Motors for the Indonesian market starting CY26.
Component business revenue surged 124% YoY in Q3FY26, driven by strong global demand.
Export revenue run-rate reached ~₹19 crore per quarter, nearing the medium-term target of 20-25% revenue share.
💼 Action for Investors
The company is entering a high-growth phase with record revenues and significant new order wins from top-tier OEMs. Investors should monitor the execution of the Indonesian export program and the progress of automatic transmission localization as key future catalysts.
Divgi Torqtransfer Extends Timeline for ₹80.11 Cr Unutilized IPO Capex Funds to FY27
Divgi Torqtransfer Systems has announced an extension for utilizing ₹80.114 crores of its IPO proceeds originally intended for capital expenditure. Out of the ₹150.707 crores earmarked for machinery and equipment, the company has utilized ₹70.593 crores as of December 31, 2025. The remaining funds are now scheduled to be deployed during FY 2026-2027 instead of the original timeline. The delay is attributed to long lead times for complex machinery and macroeconomic uncertainties affecting negotiation cycles.
Key Highlights
₹80.114 crores of IPO proceeds remain unutilized out of the ₹150.707 crores allocated for Capex.
The company has utilized ₹70.593 crores (approx 47%) for manufacturing equipment as of December 31, 2025.
The timeline for full deployment of the remaining funds has been extended to FY 2026-2027.
Delays are attributed to longer supplier lead times for complex machinery and extended negotiation cycles.
Unutilized funds are currently parked in permitted interest-bearing instruments until deployment.
💼 Action for Investors
Investors should monitor if the delay in machinery installation impacts the company's production capacity and revenue growth targets for the next two fiscal years. The extension suggests a slower-than-anticipated ramp-up in manufacturing capabilities.
Divgi Torqtransfer Q3 FY26 PAT Jumps 125% YoY to ₹117.7 Million; Revenue Up 73%
Divgi Torqtransfer Systems reported a robust performance for the quarter ended December 31, 2025, with revenue from operations growing 72.6% YoY to ₹906.21 million. Net profit surged by 124.8% YoY to ₹117.67 million, reflecting strong operational scaling. On a sequential basis, the company maintained steady growth with revenue and profit increasing by approximately 9.2% and 9.5% respectively. The company continues to hold ₹802.35 million in unutilized IPO proceeds, primarily earmarked for future capital expenditure in manufacturing equipment.
Key Highlights
Revenue from operations grew 72.6% YoY to ₹906.21 million compared to ₹525.10 million in Q3 FY25.
Net profit for the quarter stood at ₹117.67 million, a significant increase from ₹52.35 million in the same period last year.
9M FY26 revenue reached ₹2,452.66 million, already exceeding the full-year FY25 revenue of ₹2,189.17 million.
Earnings Per Share (EPS) for the quarter rose to ₹3.85 from ₹1.71 in the year-ago period.
The company has utilized ₹894.27 million of its IPO proceeds, with ₹801.14 million still available for planned machinery and equipment purchases.
💼 Action for Investors
The company is demonstrating strong growth momentum with 9M performance already surpassing previous full-year figures. Investors should monitor the timely deployment of remaining IPO funds into capex as a catalyst for further capacity expansion.
Divgi TorqTransfer Secures Exclusive Order for 35,000 Transfer Case Units from M&M
Divgi TorqTransfer Systems has secured an exclusive order from Mahindra & Mahindra (M&M) to supply 4x4 transfer case systems for the Scorpio Pik-Up export program to Indonesia. The order involves approximately 35,000 units with production and deliveries scheduled to begin in CY 2026. As the sole supplier for this platform, the company will utilize its existing manufacturing capacity, requiring no major incremental capital expenditure. This development reinforces Divgi's leadership in the drivetrain segment and its strategic partnership with a key domestic OEM for global markets.
Key Highlights
Exclusive order for 35,000 units of 4x4 transfer case systems from Mahindra & Mahindra.
Order supports M&M's Scorpio Pik-Up export program to Indonesia starting in CY 2026.
Divgi TorqTransfer will act as the sole supplier for this specific vehicle platform.
Incremental volumes will be serviced through existing facilities with no major incremental Capex.
Reinforces position as the only domestic player and a global leader in the transfer case segment.
💼 Action for Investors
Investors should view this as a positive development for long-term revenue visibility and margin stability due to the lack of required Capex. Monitor the execution timeline in CY 2026 and potential for further export-led orders from M&M's global platforms.