Dhoot Transmission reported a strong Q1 FY27, with revenue growing nearly 50% YoY, driven by a 44.6% increase in wiring harness and 67.7% in non-wiring harness segments.

EV revenue surged 79%, now contributing 27% of total revenue.

EBITDA margins improved by 110 bps sequentially to 15%. Lower working capital debt following the IPO equity infusion reduced finance costs.

Management remains confident of achieving 25%-30% annual growth, supported by robust new product development pipelines, ongoing Multilink integration, and cross-selling opportunities with Hero.

Copper inflation pressures have been largely passed on, and full-year margins are guided at 15%-16%. Battery pack supplies have expanded to a second major customer in the South, and EV charging ventures are underway.

Management expressed a confident and optimistic tone regarding strong industry tailwinds, domestic volume growth exceeding 20%, and export momentum.