Studds Accessories Limited · NSE:STUDDS
Studds Accessories — Q1 FY27 Earnings Presentation
37 slides from Studds Accessories's earnings presentation, Aug 8, 2026
Slide 1: Exchange filing cover letter
PHONES: 91-129-4296500 E mail : sales@studds.com, info@studds.com, secretarial@studds.com CIN No.: L25208HR1983PLC015135 Date: August 08, 2026 To, To, National Stock Exchange of India Ltd., BSE Limited Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Dalal Street Bandra
Slide 2: Studds Accessories Limited Investor Presentation – Q1FY27
Studds Accessories Limited Investor Presentation – Q1FY27
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Studds Accessories Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any s
Slide 4: Q1FY27 Performance Highlight
Q1FY27 Performance Highlight
Slide 5: From Managing Director's Desk
From Managing Director’s Desk “We delivered a healthy 13.7% YoY growth in revenue to ₹169.7 crore in Q1 FY27, reflecting continued traction across our key markets, with the overall demand environment remaining stable. The quarter, however, witnessed significant inflation in key styrene-based raw mat
Slide 6: Q1FY27 Consolidated Performance Highlights
Q1FY27 Consolidated Performance Highlights Revenue from Operations Rs. 169.7 cr ✓ Revenue Growth: Revenue grew by 13.7% on YoY to Rs 169.7 cr, supported by 13.7% YoY stable demand across key segments ✓ Temporary Margin Impact: EBITDA margin declined to 11.5% due to elevated styrene-based raw materia
Slide 7: Multi Dimensional Revenue Mix
Multi Dimensional Revenue Mix Product Mix Channel Mix Geography Mix 7.2% 7.2% 2.8% 3.6% 5.1% 2.5% 4.1% 8.2% 21.8% 20.9% 7.2% 7.0% 18.1% 16.6% 6.6% 2.0% 12.3% 13.4% 12.1% 12.0% 78.2% 79.2% 72.2% 72.2% 53.9% 53.7% Q1FY26 Q1FY27 Q1FY26 Q1FY27 Q1FY26 Q1FY27 Row* Asia (Excluding India) Studds Helmets Pri
Slide 8: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Cr) Q1FY27 Q1FY26 YoY Q4FY26 QoQ FY26 Net Revenue from Operations 169.7 149.2 13.7% 167.5 1.3% 634.2 Cost of Goods Sold 79.0 60.6 67.7 255.5 Gross Profit 90.7 88.6 2.4% 99.8 -9.1% 378.8 Impact on EBITDA Margins Gross Profit Margin 53.5% 59.4% 59.
Slide 9: Our Business
Our Business
Slide 10: Studds at a Glance
Studds at a Glance Brands Product Portfolio Incorporated in Motorised Helmets 4 1983 Non-Motorised Helmets Manufacturing Units 2W Accessories Installed Capacity ~9.5 Mn 2W Helmets & Boxes 240+ Designs 360+ 70+ ~9 Mn EPS Liners 19,000+ SKUs Presence in Distributors in India ~2 Mn Water Transfer Decal
Slide 11: Five Decade Journey of Innovation
Five Decade Journey of Innovation 1975 1999 2009 2016 2020 2025 Manufacturing Facility Listed on BSE & NSE Operations shifted to Launch of III set up The ‘Studds’ brand is Assigned trademark newly set up Manufacturing ‘SMK’ brand In-house facility Setup established ‘Studds’ Manufacturing Facility V
Slide 12: Diversified Brand Portfolio
Diversified Brand Portfolio Other Accessories Full Open Dual Bicycle Full Open Dual Two-wheeler Helmet locking Gloves Riding Rain Eye Modular Modular luggage device suit wear Face Face Sport Helmet Face Face Sport jacket Studds SMK Product-wise Revenue FY26 Year 1975 2016 3.1% 7.0% MRP Range Rs 925
Slide 13: What Sets Us Apart
What Sets Us Apart Extensive pan-India and global Advanced, vertically distribution with strong retail integrated manufacturing & penetration and key R&D enabling quality, scale, international accreditations and faster innovation Capital-efficient, sustainable Broad, design-rich product business mod
Slide 14: Manufacturing & Technology
Manufacturing & Technology
Slide 15: Deep Vertical Integration Driving Scalability & Quality
Deep Vertical Integration Driving Scalability & Quality Assembly & Injection Molding Painting Visor Coating Cutting & Stitching Testing Packaging • In-house mold • Robotic painting • Automated silicon • Automated fabric • Conveyorized • In-house helmet making shop and concept hard coating facility c
Slide 16: In-house Design & Innovation Engine
In-house Design & Innovation Engine Focus on Customer-centric Design and Technological Advancement Regularly refreshed product offerings Products New Launch New Designs In-House Design Team External Designers 75-member design and development • European design firm – designing Full Face 2-3 models an
Slide 17: Manufacturing Footprint: Current & Upcoming Capacities
Manufacturing Footprint: Current & Upcoming Capacities Q1FY27 Q1FY26 Particulars (Units in Mn) Installed Production Utilisation Installed Production Utilisation Manufacturing Facility I 0.90 0.83 Manufacturing Facility II 0.73 0.67 1.95 ~81% 1.81 ~80% Manufacturing Facility III 0.75 0.75 Total – 2W
Slide 18: Strategy & Growth Levers
Strategy & Growth Levers
Slide 19: Product Strategy: Premiumisation & Diversification
Product Strategy: Premiumisation & Diversification Increase Offering In The Premium Helmet Segment Expand Product Portfolio Demand for Premium 2W Helmets Driven By Expand Production Of Niche Products Increasing Sales Increasing Growing of Premium Disposable Replacement Motorcycles Income Market Bicy
Slide 20: India Strategy: Expanding Distribution & Digital Channels
India Strategy: Expanding Distribution & Digital Channels Seamless journey across touchpoints Invest in digital infrastructure to build further capabilities Invest further towards expansion of online presence May propose to launch a separate mobile application to deliver an integrated online-offline
Slide 21: Global Expansion Roadmap
Global Expansion Roadmap Global Growth Strategy – Strategically Expand Into New Markets and Geographies Strong presence in key export markets FY26 Leverage brand recall 10.6% Increase market presence and scale operations • Increase scale of operations 22.9% • Introduce new innovative product designs
Slide 22: Growth Drivers
Driving Premiumisation Through Product Mix & Export Expansion Our Performance over the last 3 years (FY24-FY26) Overall Studds SMK Private Label ASP Volumes Volumes Volumes Volumes Niche / ~4% ~3% ~52% ~22% ~5% Performance led categories PREMIUM PRODUCT PORTFOLIO • Increasing mix of premium helmets
Slide 23: Expanding Capacities: Gearing up for Growth
Expanding Capacities: Gearing up for Growth Capacity Expansion Capacity is in Mn Capacity Capacity Addition Strategic Impact of 1.5 Expansion of 1.5 12.5 Existing Capacity 11.0 Captures Rising Global demand 9.5 ~30% Opportunities Increase over FY26 Capacity Supports premiumisation and Higher ASP Gro
Slide 24: Strengthening Global Brand Positioning
Strengthening Global Brand Positioning INTERNATIONAL RACING ECOSYSTEM Participated in theMoto4 Latin Hosted as part of the prestigious America Cup, a key step in our MotoGP World Championship in global brand-building journey Goiânia, Brazil through SMK Helmets. THIS INITIATIVE HELPS TO Strengthen gl
Slide 25: Industry Overview
Industry Overview
Slide 26: Industry Snapshot: Global
Industry Snapshot: Global Global Helmet Market Size (Sales in USD Mn) Rising 2W base in APAC 01 Driving new & replacement helmet demand +5.2% 2,192 +6.2% 1,705 Adventure & moto-tourism growth 1,260 02 Boosting full-face / ADV helmet demand CY19 CY24 CY29 Tighter global safety norms (ECE 22.06 / DOT
Slide 27: Industry Snapshot: India
Industry Snapshot: India Indian Helmet Market Size Largest global 2W market (Sales in INR Mn) 01 Structurally strong helmet demand base +8.7% +8.8% 31,500 Faster replacement cycle (3–5 yrs) 20,800 02 Driven by quality awareness, design upgrades & wear-out 13,650 FY19 FY24 FY29 BIS mandate enforcemen
Slide 28: Corporate Information & Governance
Corporate Information & Governance
Slide 29: Board of Directors
Board of Directors Madhu Bhushan Khurana Sidhartha Bhushan Khurana Shilpa Arora Pankaj Duhan Deepshikha Singla Shishira Rudrappa Chairman and Managing Director Whole-time Director Independent Director Independent Director Independent Director Managing Director and Global Sales Head • On the Board si
Slide 30: Global-Standard Quality Certifications
Global-Standard Quality Certifications ISO 14001:2015 IS 4151:2015 ISO 9001:2015 ISO 45001:2018 Environmental Management Protective Helmets for Quality Management System Occupational Health and Safety System Motorcycle Riders ECE 22.06 17067:2013 DOT FMVSS 218 Compliant w/ Economic Compliance for ex
Slide 31: Historical Financial Performance
Historical Financial Performance
Slide 32: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Cr) FY26 FY25 FY24 FY23 Revenue from Operations 634.2 584.0 529.0 499.2 Cost of Goods Sold 255.5 255.7 238.6 261.7 Gross Profit 378.8 328.2 290.4 237.4 Gross Profit Margin 59.7% 56.2% 54.9% 47.6% Employee Cost 65.3 62.6 70.9 65.3 Other Expenses 1
Slide 33: Consolidated Historical Balance Sheet
Consolidated Historical Balance Sheet Assets (Rs. in Cr.) Mar-26 Mar-25 Mar-24 Mar-23 Equity and Liabilities (Rs. in Cr.) Mar-26 Mar-25 Mar-24 Mar-23 Non-current assets Equity Property, Plant and Equipment 326.7 325.9 320.4 307.3 Equity Share Capital 19.7 19.7 9.8 9.8 Capital work-in-progress 52.9 2
Slide 34: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. in Cr.) FY26 FY25 FY24 FY23 Net Profit Before Tax 111.6 95.0 76.4 46.4 Adjustments for: Non Cash Items / Other Investment or Financial Items 16.5 16.8 17.8 19.2 Operating profit before working capital changes 128.1 111.8 94.2 65.6 Changes in working
Slide 35: Financial Strength and Capital Efficiency
Financial Strength and Capital Efficiency Return on Net Worth (%) Return on Capital employed (%) Net Debt/Equity (in times) 15.5% 15.8% 20.2% 20.5% 0.02 14.8% 19.0% 9.8% 12.8% -0.07 -0.07 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 -0.13 FY23 FY24 FY25 FY26 Return on Networth = PAT/Networth Return on Ca
Slide 36: FY26 Consolidated Performance Highlights
FY26 Consolidated Performance Highlights (Rs. in Cr.) Revenue from Operations Gross Profit & Margins 47.6% 54.9% 56.2% 59.7% +8.3% 634.2 584.0 +16.8% 378.8 499.2 529.0 328.2 290.4 237.4 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 EBITDA & Margins PAT & Margins 6.6% 10.8% 11.9% 13.0% 12.0% 17.0% 18.0% 19
Slide 37: Thank You
Thank You Company: Investor Relations Advisors: Studds Accessories Ltd. Strategic Growth Advisors Pvt. Ltd. CIN: L25208HR1983PLC015135 CIN: U74140MH2010PTC204285 Mr. Bharat Goyal Mr. Mandar Chavan / Ms. Khushi Bhandari Chief Financial Officer mandar.chavan@sgapl.net / khushi.bhandari@sgapl.net cfo@s