NDRAUTO - NDR Auto Compon.
📢 Recent Corporate Announcements
NDR Auto Components Limited has received favorable appellate orders from the Income Tax Department for assessment years 2021-22, 2023-24, and 2024-25. The management expects the total outstanding tax demand to be reduced from ₹3.07 crores to approximately ₹24 lakhs following these orders. The company intends to further contest the remaining ₹24 lakhs demand before the Income Tax Appellate Tribunal (ITAT). An additional appeal for AY 2022-23 remains pending before the Commissioner of Income Tax (Appeals).
- Appellate orders received for three assessment years: 2021-22, 2023-24, and 2024-25
- Total tax demand expected to decrease by ₹2.83 crores, from ₹3.07 crores to ₹24 lakhs
- Company to appeal the residual ₹24 lakhs demand before the Income Tax Appellate Tribunal
- One appeal for AY 2022-23 is still pending resolution with the tax authorities
NDR Auto Components has disclosed the annual compliance status regarding the acquisition of a 73.13% stake by the Rohit Relan Family Trust. The trust acquired 1,73,95,361 equity shares during the 2025-26 financial year under a specific SEBI exemption order. An independent auditor has certified that the trust is in compliance with the conditions set by SEBI in its August 2025 order. This filing is a routine regulatory requirement to ensure transparency in promoter-level shareholding transitions.
- Rohit Relan Family Trust acquired 1,73,95,361 equity shares of the company
- The acquisition represents a significant 73.13% stake in NDR Auto Components
- Transfer conducted under SEBI exemption order WTM/KCV/CFD/02/2025-26 dated August 13, 2025
- Independent auditor certificate dated April 16, 2026, confirms full regulatory compliance
NDR Auto Components Limited has submitted its compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations for the quarter ended March 31, 2026. The certificate, issued by Beetal Financial & Computer Services, confirms that share certificates received for dematerialization were processed and cancelled. It further verifies that the names of the depositories were updated in the company's register of members within the mandated 15-day period. This is a standard procedural filing required by SEBI to ensure the integrity of electronic shareholding records.
- Compliance certificate submitted for the quarter ended March 31, 2026
- Confirmation that securities received for dematerialization were processed and listed on stock exchanges
- Security certificates were mutilated and cancelled within the regulatory 15-day timeframe
- The filing was issued by the Registrar and Share Transfer Agent, Beetal Financial & Computer Services
NDR Auto Components Limited has informed the exchanges that its trading window will be closed starting April 1, 2026. This closure is in compliance with SEBI Insider Trading regulations ahead of the announcement of audited financial results for the quarter and year ending March 31, 2026. The window will remain shut for all designated persons and insiders until 48 hours after the results are made public. This is a standard regulatory procedure for listed companies in India.
- Trading window closure effective from April 1, 2026
- Closure pertains to audited financial results for the quarter and year ending March 31, 2026
- Window to reopen 48 hours after the official announcement of financial results
- Applies to all Designated Persons, Connected Persons, and Insiders as per SEBI regulations
NDR Auto Components Limited (NDRAUTO) has informed the stock exchanges about a group investor meeting held on March 12, 2026. The meeting was conducted in a physical format at Aerocity, Delhi, starting at 6:00 PM. This disclosure is a routine regulatory requirement under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. No specific financial data or strategic updates were provided in this specific filing.
- Group Investor Meeting conducted on March 12, 2026, at 6:00 PM.
- The meeting was held in a physical mode at Aerocity, Delhi.
- Compliance filing under Regulation 30 of SEBI (LODR) Regulations, 2015.
- The event involved interactions with various analysts and institutional organizations.
NDR Auto Components Limited has announced a group investor meeting scheduled for March 12, 2026, at 6:00 PM. The meeting will be held in a physical format at Aerocity, Delhi, involving company officials and institutional analysts. This disclosure is a routine part of the company's investor relations activities under SEBI listing regulations. Investors should look for any subsequent filings regarding presentations or transcripts that may provide updates on business strategy.
- Group investor meeting scheduled for March 12, 2026, at 06:00 P.M.
- The meeting will be conducted in physical mode at Aerocity, Delhi.
- Participation includes company officials and various institutional analysts/organizations.
- Compliance filing under Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
NDR Auto Components Limited (NDRAUTO) conducted a virtual meeting with Kitara Capital on February 27, 2026, at 3:00 P.M. The meeting was held in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. While the specific discussion points were not disclosed in the filing, such meetings typically cover business performance and future outlook. This interaction highlights the company's ongoing engagement with institutional investors.
- Virtual meeting held with Kitara Capital on February 27, 2026
- Meeting commenced at 3:00 P.M. as per regulatory filings
- Compliance maintained under Regulation 30 of SEBI (LODR) Regulations, 2015
- Indicates active institutional interest in the company's operations
NDR Auto Components Limited conducted a virtual meeting with Electrum Portfolio Managers Limited on February 26, 2026. The meeting was held at 2:00 P.M. as part of the company's regular institutional engagement. This disclosure is a standard regulatory requirement under SEBI Listing Obligations. While no specific financial details were shared in this filing, it indicates active interest from institutional portfolio managers.
- Meeting held with Electrum Portfolio Managers Limited on February 26, 2026.
- The interaction was conducted via virtual mode at 02:00 P.M.
- Compliance maintained under Regulation 30 of SEBI (LODR) Regulations, 2015.
NDR Auto Components Limited held a virtual meeting with Electrum Portfolio Managers Limited on February 26, 2026. The meeting was conducted at 2:00 P.M. in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This event represents standard institutional engagement and does not disclose specific financial results or material changes. Investors should note the company's ongoing efforts to maintain transparency with institutional stakeholders.
- Meeting held on February 26, 2026, at 02:00 P.M.
- Institutional participant: Electrum Portfolio Managers Limited
- Mode of interaction: Virtual meeting
- Compliance: Filed under Regulation 30 of SEBI LODR Regulations
NDR Auto Components Limited (NDRAUTO) has officially reported a virtual one-on-one meeting with AM Investments held on February 24, 2026. The meeting, which commenced at 3:00 P.M., was part of the company's regular engagement with institutional investors. This disclosure was made in compliance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements. No specific financial projections or material non-public information were detailed in this particular filing.
- One-on-one investor meeting held with AM Investments on February 24, 2026
- The meeting was conducted via virtual mode at 03:00 P.M.
- Compliance filing submitted under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- The notification serves as a routine update on institutional investor engagement
NDR Auto Components Limited has announced a one-on-one physical meeting with Electrum Portfolio Managers Limited. The meeting is scheduled for February 26, 2026, starting at 2:00 P.M. This disclosure is a routine compliance filing under Regulation 30(6) of the SEBI (LODR) Regulations, 2015. Such interactions are standard for listed companies to engage with institutional investors regarding business updates.
- One-on-one physical meeting scheduled with Electrum Portfolio Managers Limited
- Meeting date set for February 26, 2026, at 02:00 P.M.
- The interaction is part of regular investor relations activities under SEBI guidelines
- Note provided that the meeting is subject to cancellation or rescheduling due to exigencies
NDR Auto Components Limited has announced a scheduled interaction with Kitara Capital on February 27, 2026. The meeting is set to begin at 3:00 PM and will be conducted via virtual mode. This disclosure is made under Regulation 30 of the SEBI (LODR) Regulations, 2015, regarding analyst or institutional investor meets. Such meetings are standard practice for listed companies to engage with institutional stakeholders and discuss business updates.
- Virtual meeting scheduled with Kitara Capital for February 27, 2026.
- The session is slated to commence at 03:00 P.M. IST.
- Compliance filing under Regulation 30(6) of SEBI Listing Regulations.
- The meeting is subject to change or cancellation based on exigencies from either party.
NDR Auto Components Limited has announced a virtual meeting with AM Investments scheduled for February 24, 2026, at 3:00 P.M. This interaction is part of the company's routine engagement with institutional investors and analysts. The disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Such meetings typically involve discussions on company performance and industry outlook, though no price-sensitive information is usually shared.
- Meeting scheduled with AM Investments for February 24, 2026
- The interaction will be held virtually starting at 3:00 P.M.
- Compliance with SEBI (LODR) Regulations, 2015, specifically Regulation 30(6)
- Meeting subject to change or cancellation due to exigencies
NDR Auto Components Limited has announced a virtual meeting with AM Investments scheduled for February 24, 2026, at 3:00 PM. This interaction is part of the company's routine engagement with institutional investors and analysts under SEBI (LODR) Regulations. Such meetings typically involve discussions on the company's business outlook and operational performance. Investors should look for any subsequent filings regarding presentation materials or transcripts from this session.
- Virtual meeting scheduled with AM Investments on February 24, 2026.
- The meeting is set to commence at 03:00 P.M. IST.
- Compliance filing made under Regulation 30(6) of SEBI (LODR) Regulations, 2015.
- The schedule is subject to change based on the exigencies of either party.
NDR Auto Components reported a 19% YoY growth in total income for Q3 FY26, reaching INR 208.99 crore with an EBITDA margin of 11.18%. The company maintains a strong order book of INR 450 crore, providing revenue visibility for the next 2-3 years as new projects ramp up. Management has outlined an ambitious long-term revenue target of INR 3,000-3,500 crore within the next 4-5 years, driven by expansion into new product categories like ambient lighting and seat inserts. Despite a slight impact from new labor codes, the company is leveraging its land banks in Aurangabad and Kharkhoda for future capacity expansion.
- Q3 FY26 total income grew 19% YoY to INR 208.99 crore, while 9M FY26 income rose 14% to INR 595.56 crore.
- Current order book stands at INR 450 crore, with production ramp-ups expected towards the end of FY27.
- Management targets a significant revenue scale-up to INR 3,000-3,500 crore over the next 4-5 years.
- Capacity utilization remains high at 80-85%, with expansion plans on track at Aurangabad and Kharkhoda.
- New product offerings include ambient lighting (JV with Hayashi), seat trims, and seat belt reminders to increase content per vehicle.
Financial Performance
Revenue Growth by Segment
The company operates in a single business segment (seat frames and trims). Total income grew 18.5% YoY to INR 717.1 Cr in FY25 from INR 605.15 Cr in FY24. H1 FY26 total income reached INR 386.58 Cr, representing an 11.19% growth compared to H1 FY25.
Geographic Revenue Split
Primarily domestic (India), with a high concentration of revenue linked to Maruti Suzuki India Limited (MSIL) operations in the Indian market. Specific regional % splits are not disclosed.
Profitability Margins
Net Profit Margin (NPM) improved from 6.4% in FY24 to 7.43% in FY25. For H1 FY26, NPM stood at 7.36% compared to 6.75% in H1 FY25. Operating Profit Margin (EBIT) increased by 14.02% YoY to 8.83% in FY25.
EBITDA Margin
EBITDA margin expanded from 9.88% in FY24 to 10.83% in FY25. In Q2 FY26, margins further improved to 11.24% (up from 10.64% in Q2 FY25) due to operating leverage and in-sourcing of components.
Capital Expenditure
Planned capex of ~INR 40 Cr in FY2026 for general operations. Additionally, INR 22 Cr is being invested in a wholly-owned subsidiary for seat fabric, and INR 33.3 Cr is committed as an equity component for a 50:50 JV with Hayashi Telempu (Japan).
Credit Rating & Borrowing
Assigned [ICRA]A+ (Stable) and [ICRA]A1+ ratings. The company maintains a negative net debt position with cash/bank balances of INR 60-65 Cr as of March 2025 and a low Debt-Equity ratio of 0.13.
Operational Drivers
Raw Materials
Seat frames, seat trims, and fabric inserts. Cost of materials consumed accounted for 73.93% of total income in H1 FY26, an improvement from 77.01% in H1 FY25.
Import Sources
Not specifically disclosed, though the company is moving toward in-house production of previously bought-out components to improve margins.
Capacity Expansion
Setting up a new subsidiary for seat insert fabric (INR 22 Cr investment) with revenues expected from FY2027. A JV for interior products (dash mirrors, ambient lighting) involves an INR 82 Cr total project cost through FY2028.
Raw Material Costs
Raw material costs were 73.93% of revenue in H1 FY26. The company utilizes a raw material pass-on clause with customers to mitigate price volatility and protect margins.
Manufacturing Efficiency
ROCE improved from 18.38% in FY24 to 21.26% in FY25. Excluding non-productive land and surplus cash, ROCE reached 32.29% in FY25, reflecting high capital efficiency.
Strategic Growth
Expected Growth Rate
11.19%
Growth Strategy
Growth is driven by product diversification (BIW, seat fabric, ambient lighting), in-sourcing components to capture higher value-add, and expanding the share of business with MSIL for new models like eVITARA.
Products & Services
Passenger car seat frames, seat trims, Body in White (BIW) components for Jimny and Victoris, dash mirrors, ambient lighting, NVH floor carpets, and rear shades.
Brand Portfolio
NDR Auto Components Limited.
New Products/Services
BIW for Victoris (INR 40 Cr annual revenue potential) and new products from the Hayashi Telempu JV (dash mirrors, ambient lighting) expected to support medium-term growth.
Market Expansion
Expanding into the EV segment via components for the eVITARA and increasing the product basket per vehicle through the new JV and subsidiary.
Strategic Alliances
50:50 Joint Venture with Hayashi Telempu, Japan, to manufacture interior automotive components.
External Factors
Industry Trends
The industry is shifting toward premiumization and EVs (eVITARA). NDR is positioning itself by adding high-value interior components and BIW parts to its portfolio to capture higher content per vehicle.
Competitive Landscape
Competes with other automotive seating and component manufacturers; maintains advantage through proximity to MSIL and integrated manufacturing.
Competitive Moat
Moat is built on a healthy Share of Business (SOB) with MSIL and long-standing promoter experience. Sustainability is driven by deep integration into the OEM's supply chain and JV partnerships with global players like Hayashi Telempu.
Macro Economic Sensitivity
Directly dependent on the Indian automotive industry growth; sensitive to GST rate changes on automobiles and festive demand cycles.
Consumer Behavior
Shift toward SUVs and Utility Vehicles (UVs) where NDR already provides seat frames and trims, benefiting from the higher value of these segments.
Geopolitical Risks
Potential impact from global supply chain disruptions affecting automotive electronics or raw materials required by primary OEMs like MSIL.
Regulatory & Governance
Industry Regulations
Subject to automotive safety and quality standards; product recalls or warranty costs are identified as key social/operational risks.
Taxation Policy Impact
Effective tax rate not explicitly stated, but financial statements are prepared in accordance with Indian corporate laws.
Legal Contingencies
No specific pending court case values provided; company confirms no GDRs/ADRs or convertible instruments are outstanding.
Risk Analysis
Key Uncertainties
Customer concentration risk (MSIL) and potential for product recalls which could harm reputation and cause financial setbacks.
Geographic Concentration Risk
High concentration in India, specifically near OEM manufacturing hubs like Gurugram/Haryana.
Third Party Dependencies
High dependency on MSIL's market performance and volume growth for revenue stability.
Technology Obsolescence Risk
Risk of shift in seating technology or materials; mitigated by the new JV with Hayashi Telempu for advanced interior products.
Credit & Counterparty Risk
Debtors turnover increased to 46.24 days in FY25 from 35.86 days, suggesting a slight slowdown in collections despite revenue growth.