Jtekt India Limited — Investor Meet, 25-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

JTEKT India reported 11% sales growth in FY26, outperforming the 9% passenger vehicle market. Full-year EBITDA margin slightly declined to 7.5%, mainly due to a product mix shift to lower-margin Maruti Suzuki models and temporary accounting/tariff issues. Fixed costs were well-controlled. The company added new CVJ and steering system capacities, anticipating 100% utilization in 1-1.5 years. Exports to Brazil commence this month, and reduced US tariffs are expected to boost future exports. Management is optimistic about revenue and margin expansion, targeting 800 Cr additional sales from existing capacities, driven by new Maruti EV models and growing international business. ROCE is set to improve as capital work-in-progress becomes operational.