Studds Accessories Limited · NSE:STUDDS
Studds Accessories — Q4 FY26 Earnings Presentation
39 slides from Studds Accessories's earnings presentation, May 23, 2026
Slide 1: Covering letter to stock exchanges
PHONES : 91-129-4296500 E mail : sales@studds.com, info@studds.com, secretarial@studds.com CIN No.: L25208HR1983PLC015135 Date: May 23, 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 (E
Slide 2: Studds Accessories Limited Investor Presentation – Q4 & FY26
Studds Accessories Limited Investor Presentation – Q4 & FY26
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: Q4 & FY26 Performance Highlight
Q4 & FY26 Performance Highlight
Slide 5: Driving Premiumisation Through Product Mix & Export Expansion
Driving Premiumisation Through Product Mix & Export Expansion Our Performance over the last 3 years 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 • Better des
Slide 6: 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 7: 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 8: From Managing Director’s Desk
From Managing Director’s Desk “We are pleased to report a strong performance for FY26, with revenue growing by 8.6% YoY to Rs. 634 crore, EBITDA increasing by 16.4% YoY to Rs. 122.2 crore with EBITDA margins improving to 19.3%, and PAT rising by 18.7% YoY to Rs. 82.7 crore. The year was marked by he
Slide 9: 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 10: Q4FY26 Consolidated Performance Highlights
Q4FY26 Consolidated Performance Highlights (Rs. in Cr.) Revenue from Operations Gross Profit & Margins 58.1% 59.6% +11.9% +14.7% 167.5 149.8 99.8 87.0 76.9% 82.9% 17.1% 23.1% Q4FY25 Q4FY26 Q4FY25 Q4FY26 PAT & Margins EBITDA & Margin 18.8% 18.7% 13.3% 12.6% +11.0% +6.1% 31.3 28.2 21.1 19.9 Q4FY25 Q4F
Slide 11: Multi Dimensional Revenue Mix
Multi Dimensional Revenue Mix Product Mix Channel Mix Geography Mix 6.6% 6.5% 7.4% 7.0% 3.9% 4.7% 4.0% 4.6% 2.2% 3.7% 2.2% 3.1% 16.5% 6.4% 8.0% 5.3% 5.9% 17.1% 20.1% 23.1% 4.2% 4.9% 12.4% 11.8% 2.6% 2.3% 7.5% 15.7% 8.3% 2.1% 19.2% 10.2% 12.9% 2.1% 11.1% 10.9% 15.8% 13.2% 13.7% 14.0% 82.9% 83.5% 79.9
Slide 12: 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 13: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Cr) Q4FY26 Q4FY25 YoY Q3FY26 QoQ FY26 FY25 YoY Net Revenue from Operations 167.5 149.8 11.9% 163.0 2.8% 634.2 584.0 8.6% Cost of Goods Sold 67.7 62.7 62.9 255.5 255.7 Gross Profit 99.8 87.0 14.7% 100.1 -0.3% 378.8 328.2 15.4% Gross Profit Margin
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Cr) Mar-26 Mar-25 Equity and Liabilities (Rs. Cr) Mar-26 Mar-25 Non-current assets Equity Property, Plant and Equipment 326.7 325.9 Equity Share Capital 19.7 19.7 Capital work-in-progress 52.9 25.3 Other Equity 503.3 429.8 Right to use of Assets 3.7 5.5 Shareho
Slide 15: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Cr) FY26 FY25 Net Profit Before Tax 111.6 95.0 Adjustments for: Non Cash Items / Other Investment or Financial Items 16.5 16.9 Operating profit before working capital changes 128.1 112.0 Changes in working capital -11.2 -30.4 Cash generated from/(use
Slide 16: Our Business
Our Business
Slide 17: 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 18: 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 19: 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 20: 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 21: Manufacturing & Technology
Manufacturing & Technology
Slide 22: 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 23: 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 24: Manufacturing Footprint: Current & Upcoming Capacities
Manufacturing Footprint: Current & Upcoming Capacities FY26 FY25 Particulars (Units in Mn) Installed Production Utilisation Installed Production Utilisation Manufacturing Facility I 3.44 3.32 Manufacturing Facility II 2.79 2.72 8.27 ~90% 7.82 ~87% Manufacturing Facility III 3.00 3.00 Total – 2W Helm
Slide 25: Strategy & Growth Levers
Strategy & Growth Levers
Slide 26: 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 27: 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 28: 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 29: Industry Overview
Industry Overview
Slide 30: 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 31: 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 32: Corporate Information & Governance
Corporate Information & Governance
Slide 33: 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 34: 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 35: Historical Financial Performance
Historical Financial Performance
Slide 36: 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 37: 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 38: 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 39: 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 VP – Finance & Investor Relations mandar.chavan@sgapl.net / khushi.bhandari@sgapl