Federal-Mogul Goetze (India) Limited. (FMGOETZE)
₹451.60 +0.29% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Federal-Mogul Goetze's revenue was ₹526 Cr (+8.8% year on year, +7.6% on the previous quarter), and net profit ₹45.3 Cr (+0.4% year on year); the operating margin was 12.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹526 | +8.8% | +7.6% |
| Operating profit | ₹67.5 | -4.4% | -17.7% |
| Net profit | ₹45.3 | +0.4% | -11.1% |
| EPS (₹) | 7.81 | +0.5% | -11.6% |
| Operating margin | 12.8% | — | — |
FMGOETZE delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 51.18% of the FMGOETZE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 42.0%. Delivery was unusually high while the price barely moved (+0.29%). Volume was 0.2 times its average, well below normal.
Delivery in the last 5 sessions: 42.5% · 46.6% · 49.5% · 47.8% · 51.2%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Federal-Mogul Goetze has approved a major capacity expansion requiring an investment of ₹3,351 million (~₹335.1 Cr), which accounts for ~16.7% of its TTM revenue and ~24.6% of its net worth. The company reported 100% capacity utilization across existing operations and plans to fund this expansion entirely through internal accruals. The expansion spans facilities in Patiala, Bengaluru, and Bhiwadi, adding volume across pistons, rings, guides, and introducing a new engine valve line. The project is targeted for completion within 18 months to meet growing demand and optimize manufacturing footprints.
- Approved ₹3,351 Million (~₹335.1 Cr) capex funded fully via internal accruals
- Current annualized capacity utilization stands at 100%
- Capacity additions include 8.15M CI Rings, 5.04M Steel Ring PVD sets, and 3.96M Pistons
- Introduces a new Engine Valve product line with 3.24M volume capacity
- Project targeted for completion within 18 months across Patiala, Bengaluru, and Bhiwadi plants
Federal-Mogul Goetze announced changes to its leadership team effective October 9, 2026. Non-Executive Director Jason Wesley Johnson has resigned due to professional commitments, confirming no other material reasons. In his place, the Board appointed Sachin Duggal, VP & CFO of Tenneco's USD 4 billion Global Performance Solutions unit, as an Additional Non-Executive Director, alongside Irfan Ali as the new Company Secretary and Compliance Officer.
- Resignation of Jason Wesley Johnson as Non-Executive Director effective close of business hours on October 9, 2026
- Appointment of Sachin Duggal as Additional Non-Executive Director, bringing 25 years of global finance experience
- Sachin Duggal currently serves as VP & CFO of Tenneco's Global Performance Solutions unit with ~USD 4 billion in revenues
- Appointment of Irfan Ali as Company Secretary and Compliance Officer (KMP) effective October 9, 2026
Federal-Mogul Goetze announced changes to its leadership team effective October 9, 2026. Non-Executive Director Jason Wesley Johnson has resigned due to professional commitments, confirming no other material reasons. In his place, the Board appointed Sachin Duggal, VP & CFO of Tenneco's USD 4 billion Global Performance Solutions unit, as an Additional Non-Executive Director, alongside Irfan Ali as the new Company Secretary and Compliance Officer.
- Resignation of Jason Wesley Johnson as Non-Executive Director effective close of business hours on October 9, 2026
- Appointment of Sachin Duggal as Additional Non-Executive Director, bringing 25 years of global finance experience
- Sachin Duggal currently serves as VP & CFO of Tenneco's Global Performance Solutions unit with ~USD 4 billion in revenues
- Appointment of Irfan Ali as Company Secretary and Compliance Officer (KMP) effective October 9, 2026
Federal-Mogul Goetze (India) Limited approved management changes effective October 9, 2026. Mr. Sachin Duggal, currently VP & CFO of Tenneco's ~$4 billion Global Performance Solutions unit with ~25 years of experience, has been appointed as an Additional Non-Executive Director. Mr. Irfan Ali, who brings ~20 years of secretarial experience, has been named Company Secretary and Compliance Officer (KMP). Concurrently, Non-Executive Director Mr. Jason Wesley Johnson resigned due to professional commitments.
- Appointment of Mr. Sachin Duggal (VP & CFO of Tenneco's ~$4 billion unit) as Additional Non-Executive Director w.e.f. October 9, 2026.
- Appointment of Mr. Irfan Ali (20 years of post-qualification experience) as CS, Compliance Officer, and KMP w.e.f. October 9, 2026.
- Resignation of Non-Executive Director Mr. Jason Wesley Johnson effective close of business October 9, 2026.
Federal-Mogul Goetze (India) Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for FY26 pursuant to Regulation 34(2)(f) of SEBI LODR Regulations. The filing forms part of the FY26 Annual Report and details the company's ESG metrics, workforce statistics, and supply chain profile. Core automotive component manufacturing accounted for 96.56% of total turnover, while export revenue contributed 8.4%. This is a routine annual compliance filing with no operational or earnings impact.
- Core automotive components (pistons, rings, pins, valve trains) contributed 96.56% of total turnover
- Exports accounted for 8.4% of total turnover across 19 destination countries
- Company reported 548 employees (536 permanent) and 4,764 workers across 3 manufacturing plants
- Domestic sourcing accounted for 89.3% of input material by value, with 15.2% from MSMEs
Federal-Mogul Goetze (India) Limited has issued the notice for its 71st Annual General Meeting (AGM) scheduled for September 24, 2026, via video conferencing. The agenda includes standard ordinary business such as the adoption of FY26 financial statements and director re-appointments (Mr. Rishi Verma and Mr. Jason Wesley Johnson). Special business items include ratifying INR 4,95,000 cost auditor remuneration for FY27 and approving commission to Non-Executive Directors capped at 1% of net profits.
- 71st Annual General Meeting scheduled for September 24, 2026 at 11:00 AM IST through VC/OAVM
- Approval sought for payment of commission to Non-Executive Directors up to an aggregate limit of 1% of annual net profits
- Ratification of cost auditor remuneration of INR 4,95,000 plus taxes for FY 2026-27 (Sanjay Gupta & Associates)
- Re-appointment of retiring Non-Executive Directors Mr. Rishi Verma and Mr. Jason Wesley Johnson
Federal-Mogul Goetze has declared a total dividend of ₹94.00 per share, comprising a special dividend of ₹86.50 and an interim dividend of ₹7.50 per equity share of face value ₹10. The record date to determine eligible shareholders is set for September 4, 2026, with payment to be completed on or before September 25, 2026. At the prevailing market price of ₹533.50, this combined dividend represents a substantial one-time yield of ~17.6%, distributing significant accumulated cash reserves to shareholders.
- Special dividend of ₹86.50 per equity share approved by the Board
- Interim dividend of ₹7.50 per share declared, bringing total payout to ₹94.00 per share
- Record date fixed as September 4, 2026
- Dividend payment to be credited on or before September 25, 2026
Federal-Mogul Goetze (India) Limited has declared an aggregate dividend of ₹94.00 per equity share (face value ₹10), consisting of an interim dividend of ₹7.50 and a special dividend of ₹86.50. At the current share price of ₹533.50, this represents a massive dividend yield of approximately 17.6%. The total payout will be around ₹546 crore, which is over 3x the company's TTM net profit of ₹178 crore and roughly 40% of its net worth. The record date is fixed as September 4, 2026, with payment to be completed on or before September 25, 2026.
- Interim dividend declared at INR 7.50 per equity share of INR 10 each.
- Special dividend declared at INR 86.50 per equity share, bringing total payout to INR 94.00 per share.
- Record date for dividend eligibility fixed as Friday, September 4, 2026.
- Dividend payment scheduled to be completed on or before September 25, 2026.
Federal-Mogul Goetze (India) Limited has declared a total dividend of ₹94.00 per share (face value ₹10), comprising an interim dividend of ₹7.50 and a special dividend of ₹86.50. At the current market price of ₹533.50, this represents a substantial one-time dividend yield of approximately 17.6%. The company has fixed September 4, 2026, as the record date, with payout scheduled on or before September 25, 2026.
- Declared a special dividend of INR 86.50 per equity share (face value INR 10)
- Declared an interim dividend of INR 7.50 per equity share, taking aggregate payout to INR 94.00 per share
- Record date set for Friday, September 4, 2026
- Payment to be completed on or before Friday, September 25, 2026
Federal-Mogul Goetze (India) Limited's Board of Directors has declared a total dividend of ₹94.00 per equity share of face value ₹10, consisting of an interim dividend of ₹7.50 and a special dividend of ₹86.50. Relative to the current share price of ₹533.50, this represents a significant one-time cash return with an implied dividend yield of ~17.6%. The company has fixed September 4, 2026, as the record date, with payments to be completed on or before September 25, 2026. Total cash outflow will be ~₹546 Cr, utilizing a notable portion of its ₹1,363 Cr net worth.
- Interim dividend declared at ₹7.50 per equity share
- Special dividend declared at ₹86.50 per equity share, totaling ₹94.00 per share
- Implies a ~17.6% dividend yield based on current market price of ₹533.50
- Record date set for September 4, 2026, with payment on or before September 25, 2026
Federal-Mogul Goetze (India) reported a 9.3% YoY growth in consolidated revenue to ₹543.43 Cr for Q1 FY27. Despite the revenue growth, consolidated net profit remained nearly flat at ₹45.33 Cr compared to ₹45.15 Cr in the year-ago period, reflecting margin pressure. Standalone material costs rose significantly by 24% YoY to ₹237.17 Cr, impacting the bottom line. The company remains debt-free with a strong ROCE of 20%, though quarterly EPS growth has stalled at ₹7.81.
- Consolidated Revenue from operations increased 9.3% YoY to ₹543.43 Cr from ₹497.12 Cr.
- Consolidated Net Profit grew marginally by 0.4% YoY to ₹45.33 Cr.
- Standalone cost of materials consumed surged to ₹237.17 Cr from ₹191.33 Cr in the previous year's quarter.
- Employee benefit expenses (Consolidated) rose to ₹113.00 Cr from ₹107.72 Cr YoY.
- Finance costs remained negligible at ₹2.38 Cr, consistent with the company's near-zero debt profile.
Federal-Mogul Goetze (India) Limited has announced that Dr. Khalid Iqbal Khan has ceased to be the Whole-time Director-Legal & Company Secretary effective July 31, 2026. This change is due to the completion of his scheduled tenure rather than a resignation. The company, which maintains a market capitalization of ₹2,756 Cr and TTM revenue of ₹1,959 Cr, will now need to fill these key compliance and legal oversight positions.
- Cessation of Dr. Khalid Iqbal Khan effective from the close of business hours on July 31, 2026
- Departure is attributed to the completion of his tenure as Whole-time Director-Legal & Company Secretary
- The outgoing director held DIN: 05253556
- Company reported TTM revenue of ₹1,959 Cr and TTM PAT of ₹178 Cr as of the latest financial context
Federal-Mogul Goetze (India) Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document, issued by the Registrar and Transfer Agent (RTA) Alankit Assignments Ltd, confirms that physical share certificates received for dematerialization during the quarter ended June 30, 2026, were processed correctly. This includes the cancellation of physical certificates and the substitution of the depository's name in the company's records. This is a standard administrative filing required for all listed companies in India.
- Compliance certificate issued for the quarter ended June 30, 2026
- RTA Alankit Assignments Ltd confirmed processing of dematerialization requests
- Physical certificates were mutilated and cancelled as per SEBI guidelines
- Filing submitted to BSE and NSE on July 13, 2026
Federal-Mogul Goetze (India) Limited has announced the mandatory closure of its trading window for 'Designated Persons' starting July 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the board meeting to approve unaudited financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are officially declared. This is a standard procedural filing and does not reflect any change in the company's fundamental business operations.
- Trading window for designated persons closes on July 1, 2026.
- Closure is for the consideration and approval of unaudited financial results for the quarter ending June 30, 2026.
- Window remains closed until 48 hours after the conclusion of the upcoming Board Meeting.
- Company reported a TTM revenue of Rs 1,959 Cr and a TTM PAT of Rs 178 Cr.
- Promoter holding remains stable at 74.98% as of March 2026.
Federal-Mogul Goetze (India) Limited has issued a clarification regarding the schedule of its 71st Annual General Meeting (AGM). The company corrected an inadvertent error from its previous board meeting outcome which stated the AGM date as August 25, 2026. The revised and official date for the AGM is now set for September 24, 2026. The meeting will be conducted virtually via Video Conferencing or Other Audio-Visual Means.
- The 71st Annual General Meeting is officially scheduled for September 24, 2026.
- The meeting will be held on a Thursday via Video Conferencing (VC) or Other Audio-Visual Means (OAVM).
- This announcement corrects a previous filing dated May 25, 2026, which incorrectly listed the date as August 25, 2026.
Financial Performance
Revenue Growth by Segment
Revenue Growth by Business Segment: Light vehicles (45-50% of sales), 2&3-wheelers (15-20%), commercial vehicles (15-20%), and others (10-15%). Overall operating income grew 22.30% in FY23 and 4.12% in 9MFY24.
Geographic Revenue Split
Geographic Revenue Split: India accounts for 91.8% (INR 1,579.69 Cr) and International markets account for 8.2% (INR 141.31 Cr) of total finished goods sold in FY25.
Profitability Margins
Profitability Margins: Operating (PBILDT) margin improved from 10.68% in FY22 to 14.5% in FY24 and 14.6% in 9MFY25 due to better capacity utilization and cost-saving measures. PAT margin improved from 3.98% in FY22 to 7.85% in FY24.
EBITDA Margin
EBITDA Margin: 14.5% in FY24, representing a 140 bps YoY improvement from 13.1% in FY23, driven by operational efficiencies and fixed cost absorption.
Capital Expenditure
Historical and Planned Capital Expenditure: Planned capex of INR 80-90 Cr per annum in the medium term for maintenance and technology up-gradation, funded entirely through internal accruals.
Credit Rating & Borrowing
Credit Rating: CARE A+ (Stable) for long-term and CARE A1+ for short-term facilities. The company is virtually debt-free with a gearing ratio of 0.04x as of March 31, 2024.
Operational Drivers
Raw Materials
SPECIFIC raw material names: Aluminum, Steel, Steel Alloys, Iron, and Copper. Raw materials collectively represent approximately 35% of the cost of sales.
Import Sources
SPECIFIC source: Local manufacturers in India.
Key Suppliers
SPECIFIC names: OEM-approved suppliers.
Capacity Expansion
CURRENT installed capacity: Not disclosed in units. PLANNED expansion: Maintenance and technology up-gradation capex of INR 80-90 Cr per annum.
Raw Material Costs
Raw Materials Costs: 35% of cost of sales. Procurement strategy involves sourcing from OEM-approved suppliers to ensure quality and facilitate price-pass-through mechanisms.
Manufacturing Efficiency
Capacity Utilization: Improved utilization has led to better absorption of fixed costs and a 300 bps improvement in PBILDT margins over the last three years.
Logistics & Distribution
Distribution Costs: Not disclosed in available documents.
Strategic Growth
Expected Growth Rate
7-9%
Growth Strategy
Growth Achievement Strategy: Focus on TGDI (Turbocharged Gasoline Direct Injection) and mild-hybrid vehicle components to meet emission regulations, expanding high-margin product sales, and leveraging the global technological expertise of the Federal-Mogul/Tenneco group to capture OEM demand.
Products & Services
SPECIFIC final products: Pistons, Piston Rings, Pins, Valve Seats, and Guides for automotive engines.
Brand Portfolio
ALL brand names: Goetze, Federal-Mogul.
New Products/Services
New Product Launches: Advanced engine components for TGDI and mild-hybrid vehicles to meet stringent emission norms.
Market Expansion
Market Expansion Plans: Targeting growth in exports (currently 8.2% of revenue) and the domestic replacement market.
Market Share & Ranking
Market Share: Dominant market position in the Indian piston and piston rings industry.
Strategic Alliances
Strategic Alliances: Part of the Federal-Mogul Group (Tenneco), providing access to global managerial and technological expertise.
External Factors
Industry Trends
Industry Trends: Current industry growth rate is 7-9%. The industry is shifting toward fuel efficiency and lower emissions (TGDI/Hybrids), and the company is positioning itself by upgrading technology to meet BS-VI and future emission norms.
Competitive Landscape
Key competitors: Increasing competition in the auto equipment sector is putting pressure on market share, though the company maintains a dominant position.
Competitive Moat
Moat and Competitive Advantage: Dominant market position in the piston and piston rings business supported by the global managerial and technological expertise of the Federal-Mogul Group (Tenneco), which is sustainable due to high entry barriers in precision engine component manufacturing.
Macro Economic Sensitivity
GDP/Inflation sensitivity: Highly sensitive to the cyclicality of the Indian automobile industry, which grew 20.35% in FY23 but is subject to periodic macro-economic slowdowns.
Consumer Behavior
Consumer trend shifts: Shift toward more fuel-efficient and lower-emission vehicles is driving demand for advanced engine components.
Geopolitical Risks
Geopolitical Risks: Exposure to global metal price cycles (Aluminum/Steel) which are influenced by international trade conditions.
Regulatory & Governance
Industry Regulations
Industry regulations: Stringent emission norms (BS-VI) and government automotive policies require continuous technological upgrades in piston and ring designs to maintain compliance.
Environmental Compliance
ESG compliance costs: ESG risk assessment is conducted; specific compliance costs in INR are not disclosed.
Taxation Policy Impact
Tax rate: Effective tax rate of approximately 25.8% based on FY25 tax expense of INR 32.33 Cr against PBT of INR 125.18 Cr.
Legal Contingencies
PENDING court cases: Not disclosed in available documents.
Risk Analysis
Key Uncertainties
Key business risks: Raw material price volatility (Aluminum/Steel) and the pace of EV adoption in the 2-3 wheeler segment (where the company has 10% revenue exposure).
Geographic Concentration Risk
Geographic concentration: 91.8% of revenue is derived from the Indian domestic market.
Third Party Dependencies
Supplier dependency: High dependency on OEM-approved suppliers for raw materials to maintain quality standards.
Technology Obsolescence Risk
Technology risks: Long-term risk from the electrification of the auto sector, though currently mitigated by the slow transition in heavy vehicle segments.
Credit & Counterparty Risk
Credit exposure: Strong receivables quality with an operating cycle of 27 days and a reputed OEM client base.
