Frontier Springs Limited. · NSE:FRONTSP
Frontier Springs — Q3 FY2026 Earnings Presentation
30 slides from Frontier Springs's earnings presentation, Feb 18, 2026
Slide 1: BSE disclosure cover letter under Regulation 30
Frontier Springs Ltd. REGD. OFFICE & FACTORY : KM 25/4, KALPI ROAD, RANIA, KANPUR DEHAT - 209 304 U.P. (INDIA) Tele Office : +91-5111-240212, 240213 C Fax : +91-5111-240214 e-mail : info@frontiersprings.co.in C Website : hitp://www.frontiersprings.co.in CIN No. : L17119UP1981PLC005212 February 18, 2
Slide 2: Frontier Springs Limited Investor Presentation Q3 & 9MFY26
Frontier Investor Presentation Springs Limited Q3 & 9MFY26
Slide 3: Safe harbour statement
Safe harbour statement This presentation may contain statements, including the words or phrases such as ‘expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should’ and similar expressions or variations of these expressions or n
Slide 4: A glimpse of Frontier Springs
A glimpse of Frontier Springs Company Overview 04 Our Journey 06 Business Divisions 07 Our Products 11 Marquee Clientele 12 Esteemed Board 13
Slide 5: Company Overview
Company Overview ESTABLISHED IN A DISTINGUISHED THE COMPANY’S SPRINGS CERTIFIED BY THE MANUFACTURER OF HOT USED ON THE FASTEST INTERNATIONAL RAIL 1981 COILED COMPRESSION TRAIN IN INDIA - VANDE INDUSTRY STANDARD SPRINGS, AIR SPRINGS AND BHARAT EXPRESS (IRIS), WHICH ENABLES FORGING FOR WAGONS, US TO D
Slide 6: Company Overview: 40+ years, certifications
Company Overview 40+ Years IRIS Two APPROVAL FROM Certification ® Research OF EXPERIENCE AND EXPERTISE RECEIVED FOR OUR MANAGEMENT SYSTEM MANUFACTURING FACILITIES Designs and Standards Organization (RDSO) A fully ISO FOR SPRING-SINGLE COIL FOR EMD LOCOMOTIVES equipped 14001:2015 laboratory CERTIFIED
Slide 7: Our Journey
Our Journey From a small family business to supplying springs and forgings for Indian Railways 1968 1981 1981-1990 1991 1992-2015 2011 2022 2024 Began making Leaf Incorporation of • Enjoyed a monopoly Set up two plants in Set up another Forayed into Forayed into • Installed a state-of- Springs for t
Slide 8: Business Divisions (1/3) Springs Division
Business Divisions (1/3) SPRINGS DIVISION In 1991, we shifted from Leaf Springs to Hot Coiled Springs for the Indian Railways, which has been our mainstay business for the past 30 years What do we do? • Manufacture different kinds of Coil Springs to use space better, reduce tiredness and weight • Us
Slide 9: Business Divisions (2/3) Forging Division
Business Divisions (2/3) FORGING DIVISION In 2011, we forayed into the forging business by setting up a manufacturing plant in Kanpur What do we do? • Manufacture train parts such as Anti Roll Bar Assembly, Screw Couplings, Draft Gear Assembly and BSS Hangers • Have big hammers of 1 tonne, 3 tonnes
Slide 10: Business Divisions (3/3) Air Spring Division
Business Divisions (3/3) AIR SPRING DIVISION We now create Air Spring suspension systems for LHB coaches for Indian Railways What do we do? • Signed an MoU with Contitech Germany to supply Air Springs to Indian Railways 2022 FY25 Capacity MANUFACTURING Successfully Planning further capital PLANT ram
Slide 11: Commercialisation of Air Springs Facility
Commercialisation of Air Springs Facility 10 | F R ON TI E R S P R I N GS L I MI TE D frontiersprings.co.in
Slide 12: Products
Products Air Springs for LHB coaches Suspension Coil Springs for Suspension Coil Springs for freight stock coaching stock Suspension Coil Springs for diesel TMCLH and VLH Coil Springs for Forging components such as Brake and electrical locomotives the power sector Block Hanger, Knuckle Thrower, Top
Slide 13: Marquee Clientele
Marquee Clientele • Chittranjan Locomotive Works • Banaras Locomotive Works • Frontier Alloy Steels Limited • Patiala Locomotive Works 12 | F R ON TI E R S P R I N GS L I MI TE D frontiersprings.co.in
Slide 14: Esteemed Board
Esteemed Board Mr. Kundan Lal Bhatia CHAIRMAN CUM MANAGING DIRECTOR Mr. Kapil Bhatia Mr. Neeraj Bhatia Mrs. Mamta Bhatia MANAGING DIRECTOR CFO AND W HOLETIME DIRECTOR W HOLETIME DIRECTOR Mrs. Manju Bhatia Mr. Sudhanshu Mani Mr. K. P. Somkuwar W HOLETIME DIRECTOR INDEPENDENT DIRECTOR INDEPENDENT DIRE
Slide 15: Quality products for modern needs
Quality products for modern needs Indian Railways – Our Primary Customer 14 Different types of Springs 16 Advantages of Air Springs and Hot Coil Springs 17
Slide 16: Indian Railways – Our Primary Customer
Indian Railways – Our Primary Customer I N DI AN RAI LWAYS I S THE FO U RTH L AR G EST R AI LWAY N ETW OR K I N TH E W O R LD . G O VER N M EN T I NI TI ATIVES Freight loading and revenue Automatic signaling The freight loading target for Upgraded 582 km with automatic FY2026–27 is 1,765 MT signalin
Slide 17: Indian Railways – Our Primary Customer: Government Initiatives
Indian Railways – Our Primary Customer GOVERNMENT INITIATIVES NATIONAL RAIL PLAN (NRP) FOREIGN DIRECT INVESTMENT INDIAN RAILWAY INNOVATION POLICY 58 super-critical projects of a total length The government has cleared the proposal The intention is to work with entrepreneurs, of 3,750 km costing ₹39,
Slide 18: Different Types of Springs
Different Types of Springs FACTORS HOT COIL SPRINGS AIR SPRINGS CONSTRUCTION Made of steel and are heated and shaped into Made of rubber and are filled with compressed coils air COMMON USE More common in newer vehicles More common in newer vehicles COST More expensive to manufacture Cost-efficient m
Slide 19: Advantages of Air Springs and Hot Coil Springs
Advantages of Air Springs and Hot Coil Springs Smoother Ride Comfort Can absorb more shock and provide a smoother ride Better handling Can better absorb the weight of the train and provide better handling, thus preventing derailments More Resilient Can withstand more stress and abuse and thus, run e
Slide 20: Performance
Performance From the Managing Director 20 Quarterly Highlights 21 5-year performance 22 Summary of Profit & Loss Statement 23 Summary of Balance Sheet 24 Summary of Cash Flow Statement 25
Slide 21: From the Director
From the Director ‘‘ Frontier Springs Limited delivered another strong performance in Q3FY26, with sustained demand across all business verticals. The Company continues to operate with a healthy order book and remains firmly on track to achieve its stated gross revenue guidance of continues as plann
Slide 22: Financial Highlights
Financial Highlights Revenue from operations EBITDA & EBITDA Margin PAT (IN ₹ CRORE ) (IN ₹ CRORE & %) (IN ₹ CRORE ) 100 .00 90. 00 80. 00 26.68% 24.90% 70. 00 21.41% 60. 00 50. 00 40. 00 30. 00 20. 00 58.27 82.74 81.43 10. 00 0.0 0 12.47 22.07 20.27 8.73 15.71 14.28 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY
Slide 23: 5-year Performance
5-year Performance Revenue from operations EBITDA EBITDA margin (IN ₹ CRORE ) (IN ₹ CRORE ) (IN %) FY25 231.34 FY25 49.66 FY25 21.47% FY24 135.41 FY24 20.77 FY24 15.34% FY23 107.36 FY23 13.31 FY23 11.79% FY22 83.66 FY22 13.21 FY22 15.79% FY21 77.94 FY21 13.70 FY21 17.58% 70.84% Y-O-Y GROWTH 139.10%
Slide 24: Summary of Profit and Loss Statement
Summary of Profit and Loss Statement (IN ₹ CRORE ) PARTICULARS Q3FY26 Q2FY26 Q3FY25 Q-o-Q Y-o-Y 9MFY26 9MFY25 Y-o-Y REVENUE FROM OPERATIONS 81.43 82.74 58.27 -1.58% 39.75% 239.52 161.26 48.53% OTHER INCOME 0.07 0.17 0.06 -55.27% 26.32% 0.84 0.85 -1.15% TOTAL INCOME 81.51 82.91 58.33 -1.69% 39.74% 24
Slide 25: Summary of Balance Sheet
Summary of Balance Sheet (IN ₹ CRORE ) PARTICULARS H1FY26 FY25 SHAREHOLDERS FUND 155.37 123.96 NON- CURRENT LIABILITIES 7.72 5.25 LONG TERM BORROW INGS 3.05 1.88 CURRENT LIABILITIES 19.18 40.14 SHORT TERM BORROW INGS 3.49 4.06 TOTAL EQUITY AND LIABILITIES 182.27 169.35 NON-CURRENT ASSETS 94.21 83.24
Slide 26: Summary of Cash Flow Statement
Summary of Cash Flow Statement (IN ₹ CRORE ) PARTICULARS H1FY26 FY25 CASH FLOW FROM OPERATING ACTIVITIES 19.64 22.11 CASH FLOW FROM INVESTING ACTIVITIES (12.25) (20.46) CASH FLOW FROM FINANCING ACTIVITIES 0.48 1.28 NET CASH FLOW 7.86 2.92 CASH AT THE BEGINNING OF PERIOD 5.20 2.28 CASH AT THE END OF
Slide 27: The Future
The Future Ready to Leverage Opportunities 24 Why Invest in Us 25
Slide 28: Ready to Leverage Opportunities
Ready to Leverage Opportunities INDIAN RAILWAY GROWTH OPPORTUNITY Historic Budget Allocation Freight Corridor Impact Vande Bharat & Metro Expansion ₹2.65 lakh crore One lakh trains 136 trains For railway-Capex – a 5% increase Run, with 96.4% of DFC commissioned. Target to reduce Incorporated, with a
Slide 29: Why Invest in Us
Why Invest in Us Robust balance sheet New (Air Springs) to help improve New product (Air Springs) to the margin profile of the business significantly contribute to the topline growth Experienced Management at Strong Industry Tailwinds and the helm of operations growth visibility 28 | F R ON TI E R S
Slide 30: Thank You
Thank You For further details, please get in touch Dhruv Bhasin Abhishek Mehra COMPANY SECRETARY Investor Relations Advisor Frontier Springs Limited TIL Advisors Private Limited c.s@frontiersprings.co.in abhishek@theinvestmentlab.in