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Studds Accessories Limited (STUDDS)

📊 NSE: STUDDS 🏢 Auto Components & Equipments 📅 Last Updated: 11/13/2025 15:25

📢 Recent Corporate Announcements

Studds Accessories AGM Approves ₹3/Share Dividend and Employee Stock Option Scheme 2026

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 08 Sep 2026, 08:02 PM

Studds Accessories Limited announced the voting results of its 44th Annual General Meeting held on September 05, 2026. Shareholders approved all agenda items with requisite majorities, including the declaration of a final dividend of ₹3.00 per equity share for FY 2025-26. Additionally, shareholders passed special resolutions approving the 'Studds Accessories Limited Employee Stock Option Scheme 2026' and the grant of options to subsidiary employees. A total of 28,822,739 votes were polled out of 39,353,400 outstanding shares, representing a 73.24% voter turnout.

Shareholders approved a final dividend of ₹3 per equity share for FY 2025-26 with 100% votes in favour
Adoption of Studds Accessories Limited Employee Stock Option Scheme 2026 passed with 99.9995% votes in favour
Total voting participation reached 73.24% of outstanding shares (28,822,739 votes polled)
Re-appointment of Ms. Shilpa Arora as Director retiring by rotation approved with 99.9991% majority

💡 Track the upcoming dividend payout timeline and watch for corporate disclosures detailing the size and dilution impact of the newly approved ESOP Scheme 2026.

Studds AGM: Outlines ₹1,000+ Cr Revenue Ambition; Capacity Expanding to 12.5 Mn Units by FY27

🟡 NEUTRAL ⭐ 4/10

OTHER 📅 06 Sep 2026, 04:03 PM

Studds Accessories released its 44th AGM presentation detailing full-year FY26 results, operational updates, and long-term expansion plans. For FY26, revenue increased 8.6% YoY to ₹634.2 crore, while PAT rose 18.7% YoY to ₹82.7 crore with a 20.4% ROCE. The company reiterated its roadmap to scale installed capacity from ~9.5 million to 12.5 million units via Facility V, with Phase 1 (1.5 million units) becoming operational in Q2 FY27. Management is targeting ₹1,000+ crore in revenue over the medium term, driven by SMK premiumization and international export growth (exports reached ~20% of revenue in FY26).

FY26 revenue grew 8.6% YoY to ₹634.2 cr, with EBITDA rising 16.4% to ₹122.2 cr and PAT up 18.7% to ₹82.7 cr.
Facility V expansion will add 3.0 mn units total capacity (1.5 mn units Phase I operational by Q2 FY27), taking total capacity to 12.5 mn units.
Export contribution increased to ~20% of revenue in FY26 (up from 16.75% in FY25) across 70+ countries.
SMK helmets generated higher margins with ~52% 3-year volume CAGR, lifting overall blended margins.
Medium-term ambition set at ₹1,000+ cr in revenue while maintaining zero net debt.

💡 Track the commercialization timeline of Facility V (Phase 1 operational by Q2 FY27) and upcoming quarterly margins to monitor premiumization and raw material cost pass-through.

Studds Accessories Concludes 44th AGM; Rs 3/Share Final Dividend and ESOP Scheme 2026 Tabled

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Sep 2026, 08:23 PM

Studds Accessories Limited conducted its 44th Annual General Meeting on September 05, 2026, with 80 members attending via video conferencing. Key resolutions placed for shareholder approval included the adoption of FY2025-26 financial statements and a final dividend declaration of Rs 3 per equity share (60% of face value of Rs 5). Special resolutions were also tabled to approve the implementation of the 'Studds Accessories Limited Employee Stock Option Scheme 2026' and its extension to eligible employees of subsidiary companies. Final voting results will be declared within two working days.

Declared a final dividend of Rs 3 per equity share (60% of face value of Rs 5) for FY 2025-26
Tabled the implementation of 'Studds Accessories Limited Employee Stock Option Scheme 2026' via special resolution
Special resolution presented to extend ESOP scheme to eligible employees of subsidiary companies
Total of 80 members attended the 44th AGM held via video conferencing

💡 Track the formal disclosure of e-voting results via the stock exchanges within two working days to confirm the passing of all ordinary and special resolutions.

Studds Accessories VP-Taxation & Compliance Manish Mehta Resigns Effective Aug 27, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 27 Aug 2026, 07:52 PM

Studds Accessories Limited has announced the cessation of Senior Management Personnel Mr. Manish Mehta from his role as Vice President - Taxation & Compliance. Mr. Mehta submitted his resignation on July 11, 2026, to pursue career opportunities outside the organisation and was relieved at the close of working hours on August 27, 2026. The company confirmed that there are no other material reasons for the resignation.

Mr. Manish Mehta resigned as Vice President - Taxation & Compliance and Senior Management Personnel.
Resignation letter tendered on July 11, 2026, taking effect from close of working hours on August 27, 2026.
Departure is to pursue external career opportunities, with no other material reasons disclosed.

💡 Track subsequent filings for the appointment of a successor to oversee the taxation and compliance function.

Studds Accessories VP - Taxation & Compliance Manish Mehta Resigns w.e.f. August 27, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 27 Aug 2026, 07:43 PM

Studds Accessories Limited has announced the resignation of Manish Mehta from the position of Vice President - Taxation & Compliance and Senior Management Personnel (SMP). The resignation was tendered on July 11, 2026, and came into effect from the close of business hours on August 27, 2026. The departure is attributed to pursuing external career opportunities, with no other material reasons reported. The operational impact on core manufacturing and financial operations is expected to be minimal.

Manish Mehta resigned as Vice President - Taxation & Compliance and SMP effective August 27, 2026
Resignation letter was originally tendered on July 11, 2026
Event took effect at 5:30 p.m. (IST) on August 27, 2026
Company confirmed no other material reasons exist for the resignation

💡 Track subsequent announcements regarding the appointment of a successor to lead taxation and compliance functions.

Studds Publishes Notice for Special Window on Dematerialisation of Physical Securities

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 24 Aug 2026, 12:35 PM

Studds Accessories Limited has released newspaper advertisements regarding the opening of a special window for the transfer and dematerialisation of physical securities. The notices were published on August 24, 2026, in the Financial Express (English) and Jansatta (Hindi). This publication is in compliance with SEBI Circular No. HO/38/13/11 (2)2026-MIRSD-POD/I/3750/2026 dated January 30, 2026. The announcement is purely administrative and has no financial or operational impact on the company.

Newspaper advertisements published on August 24, 2026, in Financial Express and Jansatta
Special window opened for transfer and dematerialisation of physical shares per SEBI norms
Filing made pursuant to SEBI Circular dated January 30, 2026 (Ref: HO/38/13/11 (2)2026-MIRSD-POD/I/3750/2026)

💡 Physical shareholders should review the notice to utilize the special window for dematerialisation; no action needed for ordinary secondary market investors.

13.7% Revenue Growth in Q1 FY27; 1.5M Unit Capacity Expansion Operational by Oct 2026

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 14 Aug 2026, 04:14 PM

Studds Accessories reported a 13.7% YoY revenue growth to ₹169.7 cr in Q1 FY27, despite a sharp 65% peak spike in styrene raw material prices. Management expects EBITDA margins to recover from the current compressed levels to 18-20% by Q4 FY27, supported by a 9% price hike and moderating input costs. A significant 1.5 million unit capacity expansion (approx. 16.6% increase) is on track for October 2026. Strategic initiatives including a Decathlon partnership and an Italian distribution hub are also set to commence in Q3 FY27.

Revenue increased 13.7% YoY to ₹169.7 cr in Q1 FY27 despite raw material volatility.
Styrene prices spiked 65% from ₹135 to a peak of ₹225 in Q1, currently moderating to ₹185.
Capacity expansion of 1.5 million units is scheduled to be operational by October 2026.
Management targets EBITDA margins of 18-20% by Q4 FY27, up from 14-15% projected for Q2.
Capex of ₹7.5 cr was incurred in Q1 FY27, with a further ₹31 cr planned for FY28.

💡 Monitor the successful commissioning of the 1.5 million unit capacity expansion in October 2026 and the stabilization of styrene prices. Investors should track if EBITDA margins trend toward the 18-20% target in the second half of FY27 as price hikes take full effect.

₹3 Final Dividend: Studds Announces 44th AGM and Record Date for FY26

🟢 POSITIVE ⭐ 5/10

DIVIDEND 📅 13 Aug 2026, 04:25 PM

Studds Accessories has scheduled its 44th Annual General Meeting (AGM) for September 5, 2026. The Board has recommended a final dividend of ₹3 per equity share (60% of face value) for the financial year 2025-26. The record date to determine eligibility for both the dividend and e-voting is August 29, 2026. This follows a December 2025 quarter where the company reported a net profit of ₹20.72 crore on revenue of ₹163.03 crore.

Final dividend of ₹3 per equity share recommended (60% of ₹5 face value)
Record date for dividend payment and e-voting eligibility set for August 29, 2026
44th Annual General Meeting to be held on September 5, 2026, at 4:00 PM IST
Remote e-voting period scheduled from September 2 to September 4, 2026
Dec 2025 quarter net profit stood at ₹20.72 crore with an EPS of 5.27

💡 Shareholders should ensure KYC and bank details are updated with the RTA by August 26, 2026, to facilitate dividend credit. Monitor the AGM for management commentary on the 1.5 million unit capacity expansion progress.

₹3 Dividend Recommended; 44th AGM Scheduled for September 05, 2026

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 12 Aug 2026, 09:08 PM

Studds Accessories Limited has scheduled its 44th Annual General Meeting (AGM) for September 05, 2026. The company confirmed a recommended final dividend of ₹3 per equity share (60% of face value) for FY 2025-26, which was initially proposed in May 2026. The record date for determining dividend eligibility is set for August 29, 2026. This procedural update follows a December 2025 quarter where the company reported a net profit of ₹20.72 crore.

Final dividend of ₹3 per equity share (60% of ₹5 face value) recommended for FY 2025-26.
44th Annual General Meeting scheduled for September 05, 2026, at 04:00 PM IST via video conferencing.
Record date for dividend entitlement fixed as Saturday, August 29, 2026.
Dividend payment to be completed within 30 days of shareholder approval at the AGM.
Planned capacity expansion of 1.5 million units (16.6% increase) remains on track for Q1 FY27.

💡 Ensure KYC and bank details are updated with the RTA by August 26, 2026, to facilitate electronic dividend credit. Monitor the upcoming Annual Report for specific execution timelines on the 1.5 million unit capacity expansion.

Aug 29 set as Record Date for Studds Accessories' FY26 Dividend and 44th AGM

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 12 Aug 2026, 08:51 PM

Studds Accessories Limited has fixed August 29, 2026, as the record date for its FY2025-26 dividend and the 44th Annual General Meeting (AGM). The company, which listed in November 2025, reported a full-year FY26 revenue of 6,342.33 million and a Profit After Tax (PAT) of 826.53 million. The dividend, if approved at the AGM on September 5, 2026, will be paid within 30 days. This marks the company's first full-year cycle as a listed entity, following its IPO in late 2025.

Record date for dividend entitlement and AGM voting is August 29, 2026
44th Annual General Meeting scheduled for September 5, 2026, via video conferencing
FY2025-26 Revenue from operations reported at 6,342.33 million
Profit After Tax (PAT) for the financial year reached 826.53 million
Export revenue share maintained at approximately 20% across 70+ countries

💡 Investors should monitor the AGM proceedings for updates on the 'Facility V' expansion, which is expected to increase production capacity from 9.5 million to 12.5 million units per annum.

Studds Accessories Sets Sept 5 for AGM; FY26 Revenue at ₹634 Cr, Capacity to Reach 12.5M Units

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 12 Aug 2026, 08:23 PM

Studds Accessories has scheduled its 44th Annual General Meeting for September 5, 2026, and fixed August 29, 2026, as the record date for the FY26 dividend. The company's first annual report as a listed entity reveals FY25-26 revenue of ₹634.23 cr and a PAT of ₹82.65 cr. A major growth driver is the ongoing expansion of Facility V, which will increase helmet production capacity from 9.5 million to 12.5 million units per annum. Exports currently contribute approximately 20% of total revenue, reaching over 70 countries.

FY25-26 Revenue from Operations reported at ₹634.23 cr with a PAT of ₹82.65 cr
Total sales volume for helmets and boxes reached 8.13 million units in FY26
Planned capacity expansion to 12.5 million units per annum from the current 9.5 million units
Export revenue share maintained at ~20% with a presence in 70+ countries
Record date for dividend entitlement and AGM voting set for August 29, 2026

💡 Monitor the commissioning timeline of Facility V (targeted for Q1 FY27) and the impact of the premium SMK brand on overall operating margins.

44th AGM Notice: Studds Accessories Issues Newspaper Ad for FY26 Annual Report Dispatch

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 11 Aug 2026, 05:50 PM

Studds Accessories Limited has issued a public notice regarding its 44th Annual General Meeting (AGM) for the financial year ended March 31, 2026. The notice, published on August 11, 2026, informs shareholders that the meeting will be held via Video Conferencing (VC) or Other Audio-Visual Means (OAVM). Shareholders are encouraged to register or update their email addresses to receive the Annual Report and AGM notice electronically. This filing is a routine regulatory requirement and does not contain new financial performance data or immediate business changes.

44th Annual General Meeting announced for the financial year ended March 31, 2026
Advertisements published in Financial Express and Jansatta on August 11, 2026
Company currently operates with an installed capacity of ~9 million 2W helmets and boxes
Management is targeting a 1.5 million unit capacity expansion (16.6% increase) by Q1 FY27

💡 Monitor the upcoming Annual Report for detailed updates on the 1.5 million unit capacity expansion and the progress of the Spanish warehouse.

Studds Accessories releases audio recording for Q1 FY27 earnings conference call

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 10 Aug 2026, 06:44 PM

Studds Accessories Limited has published the audio recording of its earnings conference call held on August 10, 2026, for the quarter ended June 30, 2026. The call provides management's perspective on the company's performance following a Dec 2025 quarter where revenue reached Rs 163.03 cr with a PAT of Rs 20.72 cr. Investors can access the recording to track progress on the 1.5 million unit capacity expansion (a 16.6% increase) scheduled for completion by Q1 FY27. The company continues to focus on premiumization through its SMK and O'Neal brands to drive margin expansion.

Earnings conference call held on August 10, 2026, for the quarter ended June 30, 2026.
Company is currently executing a 1.5 million unit capacity expansion to be operational by Q1 FY27.
Current installed capacity stands at approximately 9 million two-wheeler helmets and boxes.
Dec 2025 quarterly revenue was Rs 163.03 cr with a net profit of Rs 20.72 cr.
Capacity utilization for helmets and boxes was high at 92% as of Q2 FY26.

💡 Investors should listen to the recording for updates on the execution timeline of the 1.5 million unit expansion and management's outlook on raw material costs, which are 50% crude-derivative based.

Studds Accessories publishes Q1 FY27 results; Board approved on August 8, 2026

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 09 Aug 2026, 12:08 PM

Studds Accessories Limited has released its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The results were approved by the Board of Directors on August 8, 2026, and subsequently published in national newspapers on August 9, 2026. This filing is a routine regulatory disclosure under SEBI LODR Regulations. Investors should evaluate these results against the company's previously reported Dec 2025 revenue of Rs 163.03 cr and its ongoing 1.5 million unit capacity expansion plan.

Board of Directors approved Q1 FY27 unaudited results on August 8, 2026
Newspaper advertisements published in Financial Express and Jansatta on August 9, 2026
Company is pursuing a 1.5 million unit capacity expansion (16.6% increase) with a Q1 FY27 timeline
Current installed capacity stands at approximately 9 million 2W helmets and boxes

💡 Investors should access the full financial statements on the exchange websites to analyze margin trends and the progress of the 1.5 million unit capacity expansion scheduled for Q1 FY27.

13.7% Revenue Growth in Q1 FY27; EBITDA Margins Squeezed to 11.5% by Input Costs

🔵 WATCH ⭐ 7/10

EARNINGS 📅 08 Aug 2026, 09:35 PM

Studds Accessories reported Q1 FY27 revenue of ₹169.7 cr, up 13.7% YoY, driven by stable demand. However, profitability was significantly impacted by styrene-based raw material inflation, with EBITDA falling 35.5% YoY to ₹19.6 cr and PAT dropping 39.3% to ₹12.3 cr. EBITDA margins contracted to 11.5% from 20.3% in the previous year. The company has implemented a 9% price hike to offset costs, with full benefits expected from Q2 FY27, targeting a margin recovery to 18-20% by Q4 FY27.

Revenue grew 13.7% YoY to ₹169.7 cr, while PAT declined 39.3% to ₹12.3 cr.
EBITDA margins compressed to 11.5% in Q1 FY27 from 20.3% in Q1 FY26 due to raw material inflation.
Implemented a 9% price hike, with only 5% effective realization in Q1; the remaining 4% to flow through from Q2.
Capacity expansion of 1.5 million units per annum is on track for completion by October 2026.
International expansion continues with Italian operations expected to commence commercial activity in October 2026.

💡 Watch for margin recovery in Q2 FY27 as the full 9% price hike takes effect and styrene prices moderate. Monitor the timely commissioning of the 1.5 million unit capacity expansion in October 2026, which represents a ~16.6% increase in helmet capacity.

View All STUDDS Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

H1 FY26 consolidated revenue grew 6.4% YoY to INR 303.7 Cr. Domestic sales grew 4% YoY (104% of last year), while export sales grew 20% YoY (120% of last year). Q2 FY26 revenue grew 6.5% YoY to INR 154.4 Cr.

Geographic Revenue Split

H1 FY26 revenue split: Domestic market contributed 82.5% (INR 250.55 Cr) and Exports contributed 17.5% (INR 53.15 Cr). In Q2 FY26, Domestic was 86.6% and Exports were 13.4%.

Profitability Margins

H1 FY26 Gross Margin expanded due to product mix. Operating (EBITDA) margin was 19.8% (+193 bps YoY). Net (PAT) margin was 13.5% (+181 bps YoY). FY24 PBILDT margin was 17.62% compared to 12.95% in FY23.

EBITDA Margin

EBITDA margin for H1 FY26 stood at 19.8% (INR 60.2 Cr), up from 17.9% in H1 FY25. Management guidance for full-year FY26 EBITDA margin is between 20% and 21%.

Capital Expenditure

Capital Work-in-Progress (CWIP) stood at INR 45.8 Cr as of September 30, 2025. The company is expanding capacity by 1.5 million units in the first phase, expected to be operational by Q1 FY27.

Credit Rating & Borrowing

CARE A+; Stable for long-term and CARE A1+ for short-term bank facilities. Borrowing costs are minimal as the company has repaid term loans in full; non-current borrowings were only INR 3.4 Cr as of Sep-25.

⚙️ Operational Drivers

Raw Materials

Crude oil derivatives represent approximately 50% of total raw material costs. Other materials include EPS (Expanded Polystyrene) and water transfer decals.

Capacity Expansion

Current installed capacity is ~9 million 2W helmets and boxes. Planned expansion of 1.5 million units (16.6% increase) is underway with a Q1 FY27 operational timeline.

Raw Material Costs

Raw material costs (COGS) were 44-45% in FY21 but spiked to 52% in FY23 due to the shipping crisis. FY24 margins improved to 17.62% due to a reduction in material consumption costs.

Manufacturing Efficiency

Q2 FY26 capacity utilization: 2W helmets and boxes at 92%, EPS at 91%, and water decals at 72%. H1 FY26 utilization was 86%, 84%, and 64% respectively.

Logistics & Distribution

Extensive network of 360+ distributors in India and presence in 70+ countries. Export growth of 20% in H1 FY26 supports higher-margin revenue streams.

📈 Strategic Growth

Expected Growth Rate

15%

Growth Strategy

Growth will be achieved through a 1.5 million unit capacity expansion by Q1 FY27, premiumization of the product mix (SMK and O'Neal brands), and deeper penetration in Europe via a new Spanish warehouse.

Products & Services

Motorized helmets, non-motorized helmets, two-wheeler accessories (side boxes), EPS liners, and water transfer decals.

Brand Portfolio

Studds (flagship), SMK, Daytona, and O'Neal.

New Products/Services

Premium protective gear and higher-end helmet designs (240+ designs currently) are expected to drive margin expansion through improved product mix.

Market Expansion

Expansion into newer European geographies and strengthening distribution in existing 70+ countries. Domestic focus on organized segment growth.

Market Share & Ranking

Dominant market position in the Indian helmet industry; one of the top three organized players alongside Steelbird and Vega.

Strategic Alliances

Association with O'Neal for premium segments and diversified OEM clientele.

🌍 External Factors

Industry Trends

Shift from unorganized to organized manufacturing (accelerated by GST) and adoption of higher safety norms in India are driving a 5-10% annual growth in the organized segment.

Competitive Landscape

Intense competition from organized players like Steelbird and Vega, as well as smaller unorganized manufacturers who compete on price.

Competitive Moat

Durable moat through 50 years of brand recall, vertical integration (EPS and decals), and a massive distribution network of 360+ distributors, making it difficult for new entrants to scale.

Macro Economic Sensitivity

Sensitive to two-wheeler industry volumes and consumer discretionary spending on premium safety gear.

Consumer Behavior

Consumers are increasingly upgrading to premium protective gear and prioritizing safety certifications, benefiting established brands like Studds.

Geopolitical Risks

Trade barriers and changes in international safety standards (e.g., European ECE standard changes) can impact export volumes and require product redesign.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with Indian safety standards and European ECE 22.06 standards. GST implementation has historically benefited Studds by impacting unorganized competitors.