Viaz Tyres Limited — Investor Meet, 23-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

VIAZ TYRES FY26 Earnings Call Recap:

**Financials:** FY26 Revenue hit ₹108.34 Cr (+89.2% YoY), with H2 revenue at ₹65.74 Cr (+127.6% YoY). EBITDA grew 31.5% to ₹9.57 Cr, and PAT jumped 58% to ₹5.27 Cr. Cash flow from operations turned positive. H2 margins faced pressure from rubber price hikes and a temporary plant shutdown due to a fire incident.

**Outlook:** Management views FY26 as an "inflection point." A new ₹50 Cr plant for 2W, 3W, LCV, and agri tyres is expected for trial runs by Nov-Dec 2026, aiming for ₹125-150 Cr revenue from tyres next year, plus 15-20% tube segment growth. By FY29, they target ₹350 Cr total revenue with a second expansion phase. The company expects better 8-10% PAT margins from the new tyre segment. For FY27, 20-25% revenue growth with 6-7% profit margin is projected.

**Operations & Strategy:** Current butyl tube capacity utilization is 90-95%. The new tyre plant will more than double current capacity. Management highlighted strategic sourcing and pricing revisions to mitigate raw material volatility. A fundraise for working capital and marketing is planned for Sep-Oct.

**Analyst Take:** Management is bullish on diversifying into higher-margin tyre manufacturing, leveraging existing exports and focusing on niche sizes. The company's expansion plans signal a strong growth trajectory.