The company posted a good set of numbers for Q1FY16. Total revenue was up 5% (YoY) at Rs.375 crore as key customers like Tata Motors and Maruti showed good growth. But EBITDA was down 2% at Rs.44 crore while margins slumped down from 12.5% to 11.7%. Margins were impacted by 19% increase in staff cost. This Increase in staff cost was offset by decrease in raw material as % of revenue from 68% to 67%. Raw material costs have come down owing to localization and backward integration,which led to expansion in EBITDA margin. Net profit increased 16% to 4 crore (YoY) but QoQ it was down from Rs.186 crore.

In terms of product wise sales mix, steering & column comprised of 86.5% and driveline was at 13.5%. And in terms of geographic sales mix, lions share comes from domestic sales at 93.1% and 6.9% was from exports. Capacity Utilization across product categories during YTD FY16 for steering products was at 54%, Column Products was at 64% and Driveline Products was at 31% YTD.

As at 30th June 2015, promoters held 52.6% stake of which Indian promoters held 25.1%, Japanese promoter holds 20.1% and Maruti Suzuki holds 6.9%.