Triton Valves Ltd (505978)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Triton Valves' revenue was ₹187 Cr (+38.5% year on year, +17.1% on the previous quarter), and net profit ₹9.8 Cr (+535.7% year on year); the operating margin was 6.5%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹187 | +38.5% | +17.1% |
| Operating profit | ₹12.2 | +44.2% | +5.8% |
| Net profit | ₹9.8 | +535.7% | +171.9% |
| EPS (₹) | 19.11 | +495.3% | +171.8% |
| Operating margin | 6.5% | — | — |
📢 Recent Corporate Announcements
Triton Valves released its Q1 FY27 earnings call transcript detailing its growth roadmaps across automotive, EV, and climate control segments. Management reaffirmed its long-term vision of reaching ₹1,000 Cr in revenue by FY30 (compared to TTM revenue of ₹630 Cr) regardless of climate control recovery. The company is scaling its EV component vertical to ₹100 Cr over the next few quarters, supported by new global project LOIs from players like Sensata and Aumovio. Blended ROCE stood at 12.5% in Q1, with targets to reach 13-14% this fiscal and 15% by next year, while new investments will require a 20-25% ROCE threshold.
- Targeting ₹100 Cr revenue from the EV components vertical over the next few quarters / by next year
- Maintaining long-term target of achieving ₹1,000 Cr in revenue by FY30 against TTM revenue of ₹630 Cr
- Q1 ROCE stood at 12.5%, targeting 13-14% during FY27 and 15% by next year
- Secured LOIs from global TPMS sensor players Aumovio and Sensata, while scaling supplies to Bosch
- Completed 3:1 bonus issue and finalized the NCLT amalgamation of Tritonvalves Climatech
Triton Valves Limited has submitted an intimation under Regulation 30 regarding the availability of the audio and video recordings of its investor conference call held on August 21, 2026. The call addressed the company's Q1 FY27 performance and updates. The recording has been hosted on the company's website for public and shareholder access.
- Investor conference call held on August 21, 2026
- Audio/video recording uploaded for Q1 FY27 investor interaction
- Direct link hosted on the company's official website under statutory disclosures
Triton Valves reported strong consolidated performance for Q1 FY27, with revenue growing 38.5% YoY to ₹186.60 cr, driven by a 51.2% YoY jump in the Metals segment (₹78.99 cr) and 33.0% growth in Automotive (₹103.72 cr). Reported PAT surged to ₹9.79 cr from ₹1.77 cr in Q1 FY26, supported by a ₹4.54 cr deferred tax credit following the merger of TritonValves Climatech Private Limited (normalized PAT stood at ₹5.25 cr). The company successfully completed a 3:1 bonus share issue and noted that capex cash outflows are slated to begin from September 2026.
- Consolidated revenue rose 38.5% YoY to ₹186.60 cr vs ₹134.73 cr in Q1 FY26
- Automotive revenue rose 33.0% YoY to ₹103.72 cr; Metals segment surged 51.2% YoY to ₹78.99 cr
- Reported PAT expanded to ₹9.79 cr, aided by a ₹4.54 cr one-off merger tax credit (normal PAT at ₹5.25 cr)
- Successfully completed 3:1 bonus equity share issue and the merger of TritonValves Climatech
- Total borrowings stood at ₹157.58 cr with a Debt-to-Equity ratio of 1.14 as of June 2026
Triton Valves Ltd has scheduled an analyst and investor conference call on August 21, 2026, at 4:00 PM IST. The management will discuss the company's financial performance and operational updates for the first quarter ended June 30, 2026. The meeting will be hosted via audio/video call. This is a routine procedural intimation under Regulation 30 of SEBI LODR Regulations.
- Earnings conference call scheduled for August 21, 2026, at 04:00 P.M. IST
- Meeting agenda covers financial results and operations for the quarter ended June 30, 2026
- Format of interaction will be an Audio/Video call with registered participants
Triton Valves reported a strong Q1 FY27 with consolidated revenue growing 38.5% YoY to ₹186.60 Cr. Consolidated PAT surged to ₹9.79 Cr from ₹1.54 Cr in the year-ago period, though standalone results were significantly aided by a ₹4.26 Cr deferred tax credit. The company has fixed September 18, 2026, as the record date for the FY26 dividend. Operationally, the company shifted to a 'conversion' model for brass processing with its subsidiary to mitigate commodity price volatility.
- Consolidated revenue from operations increased 38.5% YoY to ₹186.60 Cr in Q1 FY27
- Consolidated Net Profit rose to ₹9.79 Cr compared to ₹1.54 Cr in Q1 FY26
- Standalone EPS adjusted for 3:1 bonus issue stands at ₹14.60 for the quarter
- Automotive segment revenue (net) grew 33% YoY to ₹103.72 Cr
- Record date for FY26 dividend fixed as September 18, 2026
Triton Valves reported a strong start to FY27 with consolidated revenue rising 38.5% YoY to ₹186.60 Cr. Consolidated Net Profit surged to ₹9.79 Cr from ₹1.54 Cr in the year-ago period, though this was significantly aided by a tax credit of ₹3.64 Cr. Operationally, the company transitioned to a 'conversion' model for brass processing with its subsidiary to mitigate raw material price volatility. The Board also fixed September 18, 2026, as the record date for the FY26 dividend.
- Consolidated Revenue from operations grew 38.5% YoY to ₹186.60 Cr from ₹134.73 Cr.
- Consolidated Net Profit jumped to ₹9.79 Cr, a significant increase from ₹1.54 Cr in Q1 FY26.
- Automotive segment revenue increased to ₹103.72 Cr, representing 55.6% of total revenue.
- Metals segment revenue grew to ₹78.99 Cr from ₹52.23 Cr in the previous year's quarter.
- Climate Control segment remains a drag, reporting a loss of ₹1.06 Cr for the quarter.
Triton Valves reported a strong performance for Q1 FY27, with consolidated revenue growing 38.5% YoY to ₹186.60 Cr. Consolidated net profit surged to ₹9.79 Cr from ₹1.54 Cr in the year-ago period, significantly aided by a deferred tax credit of ₹3.64 Cr. The company has fixed September 18, 2026, as the record date for the FY26 dividend. Additionally, the board approved the re-appointment of Mr. Koothanda Bheemaiah Appaiah for a five-year term starting March 2027, ensuring management continuity.
- Consolidated revenue from operations grew 38.5% YoY to ₹186.60 Cr in Q1 FY27.
- Consolidated PAT jumped 536% YoY to ₹9.79 Cr, compared to ₹1.54 Cr in Q1 FY26.
- Automotive segment revenue increased to ₹103.72 Cr, representing ~55% of total consolidated revenue.
- Standalone EPS rose to ₹14.60 from ₹0.64 YoY, adjusted for the 3:1 bonus issue completed in April 2026.
- Climate Control segment remains a drag, reporting a loss of ₹1.06 Cr for the quarter.
Triton Valves reported a strong start to FY27 with consolidated revenue rising 38.5% YoY to ₹186.60 Cr. Consolidated PAT surged to ₹9.79 Cr from ₹1.54 Cr in the year-ago quarter, although this was significantly aided by a deferred tax credit of ₹4.26 Cr. The Automotive and Metals segments showed robust growth, contributing ₹103.72 Cr and ₹78.99 Cr respectively. However, the Climate Control segment remains a drag, posting a loss of ₹1.06 Cr for the quarter.
- Consolidated Revenue from operations grew 38.5% YoY to ₹186.60 Cr from ₹134.73 Cr.
- Consolidated PAT increased to ₹9.79 Cr, a significant jump from ₹1.54 Cr in Q1 FY26.
- Automotive segment revenue rose to ₹103.72 Cr, representing 55.6% of total consolidated revenue.
- Metals segment revenue grew to ₹78.99 Cr from ₹52.23 Cr in the previous year's quarter.
- Bonus shares in a 3:1 ratio were successfully allotted on April 6, 2026, following board approval in February 2026.
Triton Valves reported a strong start to FY27 with consolidated revenue growing 38.5% YoY to ₹186.60 Cr. Consolidated PAT surged to ₹9.79 Cr from ₹1.54 Cr in the year-ago quarter, significantly aided by a deferred tax credit of ₹4.26 Cr. The Automotive and Metals segments were the primary growth drivers, while the Climate Control segment continued to struggle with a loss of ₹1.06 Cr. The company has fixed September 18, 2026, as the record date for the FY26 dividend.
- Consolidated Revenue from operations grew 38.5% YoY to ₹186.60 Cr from ₹134.73 Cr.
- Consolidated Profit After Tax (PAT) increased to ₹9.79 Cr, up from ₹1.54 Cr in Q1 FY26.
- Automotive segment revenue rose 33% YoY to ₹103.72 Cr, contributing 55.6% of total revenue.
- Metals segment revenue surged 51% YoY to ₹78.99 Cr, driven by brass-related operations.
- Climate Control segment reported a loss of ₹1.06 Cr, continuing its trend of underperformance.
Triton Valves has secured a 5-year Letter of Agreement (LOA) from US-based Sensata Technologies for the supply of TPMS (Tyre Pressure Monitoring System) valves. The total estimated revenue from this contract is ₹100 - ₹110 crore, which represents approximately 19% of the company's TTM revenue of ₹578 crore. While the agreement is signed now, sales are only expected to commence from Calendar Year 2027. The company has indicated it will enhance manufacturing capacity to meet this new demand, supporting its long-term growth strategy in the EV and sensor-compatible valve segments.
- Total contract value estimated at ₹100 - ₹110 crore over a 5-year period
- Customer is Sensata Technologies Inc., a US-based automotive sensor specialist
- Sales commencement is scheduled for Calendar Year 2027
- Order value represents ~19% of the company's TTM revenue of ₹578 crore
- Company to undertake capacity expansion to fulfill the requirements of this LOA
Triton Valves has scheduled a board meeting for August 13, 2026, to approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company reported a revenue of Rs 159.33 Cr in the preceding quarter (March 2026), showing steady growth from Rs 134.73 Cr in June 2025. The trading window for insiders has been closed since July 01, 2026, as per SEBI regulations. Investors will be monitoring if the 14% expected growth rate and EV component momentum are sustained.
- Board meeting date set for August 13, 2026, to review Q1 FY27 performance
- Financial results for the quarter ended June 30, 2026, to be considered and approved
- Trading window closed from July 01, 2026, until 48 hours after the results declaration
- Company maintains a dominant ~60% domestic market share in tube and tyre valves
Financial Performance
Revenue Growth by Segment
Consolidated revenue grew 14% YoY to INR 488.37 Cr in FY25. Segment external revenues for FY25 were: Automotive (Tyre valves) at INR 284 Cr, Metals at INR 185 Cr, and Climate Control at INR 19 Cr. Standalone revenue grew 11% to INR 381.40 Cr.
Geographic Revenue Split
Not disclosed in available documents, though the company serves both domestic and global markets.
Profitability Margins
Consolidated EBITDA margin declined from 7.32% in FY24 to 6.38% in FY25. Standalone EBITDA margin dropped from 7.49% to 3.95% in the same period. Q2 FY26 consolidated normalized EBITDA margin improved to 7.5%.
EBITDA Margin
6.38% consolidated for FY25, a decrease of 94 basis points YoY. Normalized EBITDA for Q2 FY26 stood at INR 9.85 Cr (7.5% margin) compared to INR 8.75 Cr (7.4% margin) in Q2 FY25.
Capital Expenditure
Historical net fixed assets stood at INR 86.81 Cr as of March 2025. H1 FY26 saw a capex addition of INR 8.0 Cr. Planned capex in the Metals segment is scheduled for commissioning in Q4 FY26.
Credit Rating & Borrowing
CRISIL reaffirmed ratings at 'Crisil BBB/Stable' for long-term and 'Crisil A3+' for short-term facilities. Short-term bank loan utilization is a monitorable factor.
Operational Drivers
Raw Materials
Primary raw materials include brass (new alloys of brass) and copper. Commodity price monitoring is critical as brass price volatility directly impacts the Metals segment margins.
Import Sources
Not specifically disclosed, though the company monitors global commodity and forex trends.
Capacity Expansion
Metals segment capex is planned for Q4 FY26 to take advantage of demand for brass rods and coils. Current net fixed assets are INR 89.00 Cr as of September 2025.
Raw Material Costs
Margin over material cost was 28.1% (INR 36.92 Cr) in Q2 FY26. The company is pursuing price normalization with customers to incorporate non-raw material cost increases.
Manufacturing Efficiency
Automotive segment achieved sales volume growth in Q2 FY26 (Tyre & Tube Valves +19%, EV +63%) which improved margin absorption.
Strategic Growth
Expected Growth Rate
14%
Growth Strategy
Growth is driven by three levers: 1) Tubeless, TPMS, and EV components (EV grew 63% in Q2 FY26); 2) Service valves for room ACs; 3) New brass alloys. The company is also commissioning capex in the Metals segment in Q4 FY26 and pursuing a merger with its Climatech subsidiary for operational efficiency.
Products & Services
Tyre and tube valves, tubeless valves, EV valves, TPMS valves, valve cores, and service valves for room/commercial air conditioners.
Brand Portfolio
Triton
New Products/Services
EV components (+63% growth in Q2 FY26), TPMS valves for sensor manufacturers, and service valves for the HVAC industry.
Market Expansion
Focusing on the aftermarket (B2B2C) and exports to diversify revenue beyond OE manufacturers.
Market Share & Ranking
Domestic leader with ~60% market share in tube and tyre valves and 85% market share in tubeless valves.
Strategic Alliances
Proposed merger of Triton Valves Limited and TritonValves Climatech Private Limited to achieve operational efficiencies.
External Factors
Industry Trends
Shift toward tubeless valves and EV components; implementation of QCO for automotive valves is expected to slow down import-led competition.
Competitive Landscape
Faces competition from Indian importers and low-cost Chinese imports; however, TVL maintains leadership through scale and quality adherence.
Competitive Moat
Moat is built on a 50-year established market position, 60-85% domestic market share, patented products, and proven design capabilities.
Macro Economic Sensitivity
Sensitive to automotive industry cycles and HVAC demand (weather-dependent).
Consumer Behavior
Increasing adoption of Electric Vehicles (EVs) and tubeless tyres is shifting demand toward TVL's specialized valve segments.
Geopolitical Risks
Competition from Chinese imports is a risk, though mitigated by the implementation of the Quality Control Order (QCO) for automotive valves.
Regulatory & Governance
Industry Regulations
Quality Control Order (QCO) for automotive valves and cores is a key regulatory driver that benefits the company by restricting low-quality imports.
Risk Analysis
Key Uncertainties
Commodity price volatility (Brass/Copper) and forex fluctuations could impact margins by up to several percentage points if not passed through.
Geographic Concentration Risk
Not disclosed, but primarily focused on the Indian domestic market.
Third Party Dependencies
Dependency on major tyre manufacturers for the Automotive segment and weather patterns for the Climate Control segment.
Technology Obsolescence Risk
Risk of shift away from traditional tube valves is mitigated by the company's expansion into EV and TPMS valve technologies.
Credit & Counterparty Risk
Receivables stood at INR 72.33 Cr in September 2025, with a slight slowdown in collections noted.
