PPAP Automotive Ltd
NSE:PPAP
PPAP Automotive Ltd
PPAP Automotive Ltd. manufactures and markets automotive sealing systems, exterior, and interior products. The company is headquartered in Noida, Uttar Pradesh. The company went IPO on 2008-01-11. The Company’s state-of-the-art manufacturing facilities are located in Noida, Uttar Pradesh; Greater Noida, Uttar Pradesh; Chennai, Tamil Nadu; Pathredi, Rajasthan and Ahmedabad, Gujarat. The firm operates through five segments: Commercial Tooling Business, Pail Container Business, Electric Vehicle Component Business, Automotive Parts Business, and After market and spare parts business. The tooling facility manufactures tools for customers in automotive, as well as white goods and electronic goods. The firm has ventured into the development of pail containers. The facility is located at Surajpur Industrial Area, Uttar Pradesh. The firm has also ventured into the electric vehicle market through its subsidiary PPAP Technology Limited. The facility is located in Noida, Uttar Pradesh. The firm serves original equipment manufacturer (OEMs).
PPAP Automotive Ltd. manufactures and markets automotive sealing systems, exterior, and interior products. The company is headquartered in Noida, Uttar Pradesh. The company went IPO on 2008-01-11. The Company’s state-of-the-art manufacturing facilities are located in Noida, Uttar Pradesh; Greater Noida, Uttar Pradesh; Chennai, Tamil Nadu; Pathredi, Rajasthan and Ahmedabad, Gujarat. The firm operates through five segments: Commercial Tooling Business, Pail Container Business, Electric Vehicle Component Business, Automotive Parts Business, and After market and spare parts business. The tooling facility manufactures tools for customers in automotive, as well as white goods and electronic goods. The firm has ventured into the development of pail containers. The facility is located at Surajpur Industrial Area, Uttar Pradesh. The firm has also ventured into the electric vehicle market through its subsidiary PPAP Technology Limited. The facility is located in Noida, Uttar Pradesh. The firm serves original equipment manufacturer (OEMs).
JV Exit: PPAP sold its entire stake in its Tokai Kogyo JV for INR 100 crores to address low returns and strategic misalignment, freeing up capital and increasing strategic flexibility.
Proceeds Utilization: The sale proceeds will be used mainly to reduce net debt and fund CapEx, with management expecting about a 30% reduction in interest cost.
Q3 Performance: Q3 revenue was INR 138 crores, broadly flat year-over-year, while profit after tax turned positive at INR 6.61 lakhs after a loss in the prior quarter.
Guidance Affirmed: FY '26 revenue is projected at approximately INR 575 crores, with estimated EBITDA of INR 58 crores and PAT of INR 8 crores (excluding the JV gain). Guidance was left unchanged.
Aftermarket & Battery Growth: Aftermarket business grew over 30% YoY in Q3, and the lithium-ion battery division saw record monthly sales and is expected to significantly reduce operating losses.
Demand Recovery: Q3 was impacted by model-specific softness at key OEMs, but management reports improving trends and sales momentum in Q4.
