UNIPARTS - Uniparts India
📢 Recent Corporate Announcements
Uniparts India Limited has updated its list of authorized personnel for determining the materiality of events and making disclosures under SEBI Regulation 30(5). The Board has authorized three key individuals: the Chairman & Managing Director, the Group CEO, and the Company Secretary. For the purpose of determining materiality, any two of these three individuals must act jointly. However, for the purpose of making disclosures to the stock exchanges, any one of the three is authorized to act severally.
- Authorized Mr. Gurdeep Soni (CMD), Ms. Tanushree Bagrodia (Group CEO), and Mr. Jatin Mahajan (CS) for SEBI compliance.
- Joint authorization of any two persons required to determine the materiality of an event or information.
- Individual (several) authorization granted to any of the three for making disclosures to stock exchanges.
- Update is in compliance with Regulation 30(5) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Uniparts India has announced a transition in its financial leadership with the resignation of CFO Rohit Maheshwari, effective March 12, 2026. The Board has appointed Sandeep Taneja as the new Group CFO starting March 16, 2026, ensuring a swift transition. Mr. Taneja brings over 25 years of global experience, having managed P&Ls ranging from $100 million to $3 billion at major firms like Gates India and Ingersoll Rand. His extensive background in both Indian and US markets is expected to support the company's global financial strategy.
- Rohit Maheshwari resigns as CFO and Key Managerial Personnel effective March 12, 2026.
- Sandeep Taneja appointed as Group CFO effective March 16, 2026, following a Board meeting on March 11.
- New CFO Sandeep Taneja possesses 25+ years of global experience, including 10 years in the USA.
- Mr. Taneja has previously managed P&Ls between $100 million and $3 billion at Gates India and Ingersoll Rand.
- The appointment includes roles as Key Managerial Personnel under Section 203 of the Companies Act, 2013.
Uniparts India Limited has announced its participation in the Auto Ancillaries Virtual Investor Conference scheduled for March 6, 2026. The event is organized by Emkay Global Financial Services Ltd. and will be held in a group conference format. The interaction is slated to take place from 02:00 p.m. to 03:00 p.m. via virtual mode. The company has explicitly stated that no unpublished price sensitive information (UPSI) will be shared during this meeting.
- Virtual investor meeting scheduled for March 6, 2026, from 2:00 PM to 3:00 PM
- Participation in the Auto Ancillaries Virtual Investor Conference hosted by Emkay Global
- Interaction will be conducted in a group conference format
- Company confirms only public domain information will be discussed during the session
Uniparts India reported a robust Q3 FY26 with revenue growing 35% YoY to ₹281 crores and PAT increasing 74% to ₹33 crores. The company maintained a strong EBITDA margin of 21.5% and remains net debt-free with a cash position of ₹153 crores. Shareholder rewards were a major focus, with a ₹101 crore special dividend and a fresh ₹7 interim dividend announced. Management highlighted a ₹200 crore annualized new business pipeline and the operationalization of a new Mexico warehouse to enhance near-shoring capabilities.
- Revenue from operations increased 35% YoY to ₹281 crores, driven by recovery in construction and small agriculture.
- EBITDA grew 65% YoY to ₹61 crores with a healthy margin of 21.5% despite new wage code impacts.
- Declared a significant special dividend of ₹101 crores and a second interim dividend of ₹7 per share.
- New business awards pipeline remains strong at ₹200 crores annualized potential across global geographies.
- Construction segment revenue share increased to 41.6% in 9M FY26, reflecting successful diversification.
Uniparts India Limited has received a notice of demand for ₹25.80 crore from the Income Tax Department for the Assessment Year 2024-25. The demand primarily stems from the tax authority's failure to consider a deduction of ₹83.28 crore available under Section 80M. The company asserts that the claims are not maintainable and expects no material financial impact. Management is preparing to file a rectification petition and a legal appeal to contest the order.
- Received a tax demand notice of ₹25,79,86,410 including interest under sections 234A and 234B.
- The dispute involves the non-consideration of a Section 80M deduction amounting to ₹83,27,89,954.
- Penalty proceedings under Section 270A for under-reporting of income have been initiated separately.
- Company plans to file a rectification petition and explore further legal remedies against the demand order.
- Management believes the company has a strong case on merits and expects a favorable outcome.
Uniparts India Limited has made available the audio recording of its earnings conference call held on February 10, 2026. The call focused on the company's standalone and consolidated unaudited financial results for the third quarter and nine months ended December 31, 2025. This disclosure is a standard regulatory requirement under SEBI (LODR) Regulations to ensure transparency for all shareholders. Investors can access the recording on the company's official website to review management's commentary on business performance.
- Audio recording of the Q3 and 9M FY26 earnings call is now publicly available.
- The earnings call was conducted on February 10, 2026, following the results announcement.
- The recording link is hosted on the Uniparts India official website under the quarterly results section.
- Compliance filing made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Uniparts India reported a robust Q3 FY26 with consolidated revenue growing 34.2% YoY to INR 2,867 million. Profit After Tax (PAT) increased significantly by 74.1% YoY to INR 333 million, even after accounting for a one-time exceptional labor code impact of INR 34.19 million. The company's EBITDA margin saw a healthy expansion to 21.5% compared to 17.4% in the same quarter last year. Management highlighted that warehouse-led sales, which offer higher agility and value, now constitute over 50% of 9M FY26 revenues.
- Q3 FY26 Revenue increased 34.2% YoY to INR 2,867 Mn, showing momentum despite seasonal weakness.
- EBITDA grew 65.5% YoY to INR 617 Mn, with margins improving from 17.4% to 21.5%.
- 9M FY26 PAT reached INR 1,072 Mn, a 64.4% growth compared to the previous year.
- Warehouse-led sales crossed the 50% mark of total revenue in the first nine months of FY26.
- The company reported a recovery in Small Agriculture and stabilization in the Construction Equipment segment.
Uniparts India Limited has declared a second interim dividend of Rs 7 per equity share for the financial year 2025-26. The company has fixed February 16, 2026, as the record date to determine shareholder eligibility for this payout. This dividend represents 70% of the face value of Rs 10 per share. The payment will be processed and dispatched to eligible shareholders within 30 days from the date of declaration.
- Second interim dividend of Rs 7 per equity share declared for FY 2025-26
- Record date for dividend entitlement fixed as February 16, 2026
- Dividend payout represents 70% of the face value of Rs 10 per share
- Payment to be completed within 30 days from the declaration date of February 9, 2026
Uniparts India Limited has announced a second interim dividend of Rs. 7 per equity share for the financial year 2025-26. The dividend is declared on a face value of Rs. 10 per share. The company has fixed February 16, 2026, as the record date to determine shareholder eligibility. This payout follows the board meeting held on February 09, 2026, and will be distributed within 30 days.
- Second interim dividend of Rs. 7 per equity share declared for FY 2025-26
- Dividend is based on a face value of Rs. 10 per equity share
- Record date for determining eligible shareholders is February 16, 2026
- Payment to be completed within 30 days from the declaration date of February 09, 2026
Uniparts India reported a robust performance for Q3 FY26, with standalone revenue from operations growing 43% YoY to ₹1,836.85 million. Net profit witnessed a massive jump to ₹469.27 million from ₹77.07 million in the corresponding quarter of the previous year. The company rewarded shareholders by declaring a second interim dividend of ₹7.00 per share. While the company faced an exceptional charge of ₹28.05 million due to new Labour Code provisions and a fire incident at its Ludhiana plant, the overall financial trajectory remains strongly positive.
- Standalone Net Profit for Q3 FY26 rose to ₹469.27 million, a significant increase from ₹77.07 million YoY.
- Revenue from operations grew to ₹1,836.85 million compared to ₹1,281.74 million in Q3 FY25.
- Declared a second interim dividend of ₹7.00 per equity share (70%) with a record date of February 16, 2026.
- EPS for the quarter improved substantially to ₹10.40 from ₹1.71 in the previous year's quarter.
- Recognized an exceptional expense of ₹28.05 million related to gratuity and leave liabilities under new Labour Codes.
Uniparts India Limited has announced its earnings conference call scheduled for February 10, 2026, at 12:00 PM IST. The management will discuss the standalone and consolidated unaudited financial results for the quarter and nine months ended December 31, 2025. This call is a standard procedure following the release of quarterly financial results to provide clarity to analysts and institutional investors. The event is hosted by Go India Advisors and will feature participation from the company's key management personnel.
- Earnings call scheduled for February 10, 2026, at 12:00 PM IST.
- Discussion will cover financial results for the quarter and nine months ended December 31, 2025.
- Management will provide insights into both standalone and consolidated performance.
- Universal dial-in numbers are +91 22 6280 1557 and +91 22 7115 8383.
- The call will be attended by the Key Management of Uniparts India Limited.
Uniparts India Limited has successfully passed a special resolution via postal ballot to revise the managerial remuneration of Ms. Tanushree Bagrodia, a Whole Time Director. The resolution saw a total turnout of 69.83% of outstanding shares, with 31,518,036 votes polled. The proposal was overwhelmingly approved with 99.29% of votes in favor, while only 0.71% voted against. Notably, while promoters were 100% in favor, public institutional investors showed a higher dissent rate of 16.31%.
- Special resolution passed for revision in managerial remuneration of Ms. Tanushree Bagrodia (Whole Time Director).
- Total voter participation reached 69.83% of outstanding shares, representing 31,518,036 total votes.
- The resolution received 31,294,730 votes (99.29%) in favor and 223,306 votes (0.71%) against.
- Public institutional investors cast 1,365,827 votes, with 16.31% (222,705 votes) opposing the resolution.
- Promoter and Promoter Group voted 100% in favor of the revision with 29,695,090 votes.
Uniparts India Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by MUFG Intime India Private Limited, covers the quarter ended December 31, 2025. It confirms that share certificates received for dematerialization were processed and the security certificates were mutilated and cancelled after verification. This is a standard regulatory requirement for listed companies to ensure the integrity of shareholding records.
- Compliance certificate submitted for the quarter ended December 31, 2025.
- Issued by Registrar and Share Transfer Agent, MUFG Intime India Private Limited.
- Confirms adherence to SEBI (Depositories and Participants) Regulations, 2018.
- No material changes or financial impacts reported in this administrative filing.
Uniparts India Limited has announced the closure of its trading window for all designated persons starting January 1, 2026. This closure is a mandatory regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations, 2015, preceding the announcement of financial results. The restriction pertains to the unaudited financial results for the quarter and nine months ending December 31, 2025. The window will remain closed until 48 hours after the results are made public.
- Trading window closure commences on January 1, 2026
- Closure is in relation to the financial results for the period ending December 31, 2025
- Window to reopen 48 hours after the declaration of unaudited financial results
- Applies to all Designated Persons and their immediate relatives as per SEBI norms
Uniparts India has reported a fire incident at its SKG Engineering plant in Ludhiana, Punjab, which occurred on the night of December 27, 2025. While there were no human casualties, surface finishing operations have been halted, leading to a temporary disruption in production. The company is mitigating the impact by utilizing its other manufacturing facilities to fulfill customer orders. While the plant is fully insured, the total financial loss is still being assessed by the company and insurance providers.
- Fire incident occurred at the SKG Engineering plant in Ludhiana on December 27, 2025, at 10:30 PM
- Zero human casualties or injuries reported; fire was contained promptly
- Surface finishing operations disrupted, with production being diverted to other company facilities
- Plant is adequately insured, and the insurance company has been notified for damage assessment
Financial Performance
Revenue Growth by Segment
Total revenue for H1 FY26 reached INR 5,619 Mn, a 9.7% YoY growth. By market segment, Agriculture contributes 59.0% and Construction, Forestry, and Mining (CFM) contributes 41.0%. The Aftermarket (AFM) segment is expected to grow in single digits YoY, while the company is positioned for mid-teen growth in export linkages.
Geographic Revenue Split
As of H1 FY26, the Americas remain the largest market at 52.2% of revenue, followed by Europe at 25.1%, India at 14.9%, Japan at 5.5%, and the Rest of the World at 2.3%. This distribution reflects a heavy reliance on the North American and European OHV markets.
Profitability Margins
Gross Profit Margin for Q2 FY26 improved significantly to 69.4% from 62.4% in Q2 FY25. PAT margins increased from 8.6% in Q2 FY25 to 13.9% in Q2 FY26, driven by operating leverage and a shift toward higher-margin delivery channels like warehousing.
EBITDA Margin
EBITDA margin for H1 FY26 stood at 21.7%, up from 17.2% in H1 FY25. Q2 FY26 EBITDA was INR 640 Mn, representing a 52.6% YoY increase, primarily due to operating leverage as revenue growth outpaced fixed cost increases.
Capital Expenditure
CAPEX outflow for Q2 FY26 was approximately INR 6 Cr. In FY25, the company spent INR 30.22 Cr on property, plant, and equipment and capital work-in-progress, down from INR 35.00 Cr in FY24.
Credit Rating & Borrowing
Uniparts is a net debt-free company with a group net cash position of approximately INR 226 Cr as of September 30, 2025. Debt-to-equity ratio remains low at 0.10x in H1 FY26, indicating minimal reliance on external borrowing.
Operational Drivers
Raw Materials
Cost of materials consumed was INR 3,117.97 Mn in FY25, representing approximately 32.3% of total income. Specific raw materials include steel and forged components used for 3PL and PMP products.
Import Sources
Not explicitly disclosed in available documents, though the company operates manufacturing facilities in India and the US to serve global OEMs.
Capacity Expansion
The company maintains a fixed asset turnover of 1.7x as of H1 FY26. While specific MTPA capacity is not listed, the company has 250+ engineers and technical diploma holders supporting its manufacturing base across India and the US.
Raw Material Costs
Material costs are subject to FX fluctuations; in Q2 FY26, FX impacted material costs, though EBITDA margins still improved YoY. The company uses a mix of local production and direct exports to manage costs.
Manufacturing Efficiency
Operating leverage is a key driver; as revenue grows, margins expand because fixed costs are spread over a larger base. EBITDA margins improved from 17.0% to 22.6% YoY in Q2 FY26 due to this efficiency.
Logistics & Distribution
Margins are highly sensitive to delivery channels: Warehouse sales (highest), Direct Export (base), and Locally Produced/Delivered (lowest).
Strategic Growth
Expected Growth Rate
15%
Growth Strategy
Growth is targeted through a healthy new business pipeline, with INR 200 Cr in annualized potential value awarded over the last 12 months. Strategy involves capturing mid-teen growth in export linkages and leveraging the 'turning corner' in the construction equipment segment. Approximately 11-12% of the 15% growth target is expected from new business wins.
Products & Services
3-Point Linkage systems (3PL), Precision Machined Parts (PMP), Power Take-Off (PTO) components, and Fabrication parts for Off-Highway Vehicles (OHV).
Brand Portfolio
Uniparts India Limited.
New Products/Services
New business awards totaling INR 200 Cr in annualized potential value are expected to contribute significantly to FY26 and FY27 growth.
Market Expansion
Focusing on horizontal and vertical growth with existing customers across all geographies to deepen wallet share and mitigate risk.
External Factors
Industry Trends
The OHV industry is seeing a recovery in construction. Uniparts is positioning itself to benefit from this by diversifying its product mix (3PL vs PMP) and focusing on export linkages where it expects mid-teen growth.
Competitive Landscape
Competes in the global precision component market for OHVs, primarily against other specialized engineering firms in India and international markets.
Competitive Moat
The moat is built on a diversified global manufacturing and warehousing model. High-margin warehousing sales (highest margin) create a competitive advantage by offering localized, just-in-time supply to global OEMs, which is difficult for pure exporters to replicate.
Macro Economic Sensitivity
Highly sensitive to global CAPEX cycles in Agriculture and Construction. The management noted that 'construction is turning the corner,' which is expected to drive future demand.
Consumer Behavior
Demand is driven by OEM production schedules rather than direct consumer behavior, making the company a Tier-1/Tier-2 supplier sensitive to industrial output.
Geopolitical Risks
Trade barriers or economic shifts in the US and Europe could impact 77.3% of the total revenue base.
Regulatory & Governance
Industry Regulations
Operations are subject to the Companies Act, 2013. Internal financial controls were audited by S.C. Varma and Co. and found to be operating effectively as of March 31, 2025.
Taxation Policy Impact
Effective tax rate for Q2 FY26 was approximately 22% (INR 111 Mn tax on INR 505 Mn PBT).
Legal Contingencies
The company maintains internal financial controls to prevent fraud and errors; no specific pending high-value court cases were detailed in the provided snippets.
Risk Analysis
Key Uncertainties
Operating deleverage is a risk if growth slows, as seen in historical margin fluctuations. FX volatility remains a primary uncertainty for material costs.
Geographic Concentration Risk
High concentration in the Americas (52.2%) and Europe (25.1%), totaling over 77% of revenue.
Third Party Dependencies
84.4% of revenue is dependent on OEM customers, making the company vulnerable to the production cycles of a few large global manufacturers.
Technology Obsolescence Risk
The company mitigates this through a large engineering team (250+) focused on innovation in 3PL and PMP verticals.
Credit & Counterparty Risk
Working capital days of 155 indicate a significant amount of capital tied up in receivables and inventory, though the net cash position of INR 226 Cr provides a liquidity buffer.