Jtekt India Limited — Investor Meet, 20-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

JTEKT India's H1 FY26 sales grew 5.6% (vs. PV market +1.6%). Q2 EBITDA margin improved to 7.2%, but H1 stood at 6.3% (down from 7.6% last year), primarily due to higher employee costs and an unfavorable product mix. Management remains optimistic for H2, anticipating market recovery and increased contributions from new models. Key capacity expansions are progressing, with the 6th manual gear and 3rd CPS lines operational, and the 2nd CVJ and Chennai gear lines nearing completion. Construction for a new Gujarat facility begins December 2025. Backward integration for CVJ forging, allocated INR 55 crore, is underway. A Brazil export order for manual gears, with a potential for 5 lakh units, is set to commence next year, expected to significantly boost export contribution. The company is focused on enhancing margins through new product introductions, export growth, and ongoing cost efficiencies.