1. Opening Hook
Talbros began the concall by announcing a shiny new sustainability JV, casually brushed aside a cyberattack in Europe, and still managed to post 16.5% EBITDA margins. Not bad for a quarter that was supposed to be “challenging.”
While Europe struggled, EV demand wobbled, and a key client literally shut down operations, Talbros chose optimism—backed by margins, exports, and a ₹500–600 crore recycling dream.
This was less a “Q2 performance” call and more a “trust us, H2 will fix it” monologue—with enough data to keep believers hopeful and skeptics alert.
Read on. There’s carbon black, cyberattacks, Cummins gaskets, and a whole lot of confidence.
2. At a Glance
- Revenue ₹217 cr (Q2) – Flat growth, blamed politely on Europe and hackers.
- EBITDA ₹36 cr (16.4%) – Margins refused to panic.
- PAT ₹23 cr – Profits stayed calm amid chaos.
- Exports 26% of revenue – UK carried the continent.
- Cyberattack impact ~₹10 cr – IT failures now part of auto risks.
- New Lohum JV announced – ESG meets margin ambition.
3. Management’s Key Commentary
“We are very excited about the Lohum joint venture.”
(Translation: Sustainability is now a profit centre 😏)
“Recovered carbon black will be close to virgin quality.”
(Cheaper, greener, and OEM-friendly—buzzword bingo achieved)
“Europe was not very interesting in the last six months.”
(Polite way of saying volumes were ugly)
“Cyberattack led to a one-time loss of ₹10 crores.”
(New risk category unlocked: ransomware EBITDA impact 💻)
“Margins remained robust at 16.5%.”
(When in doubt, flex margins)
“Q3 and Q4 will be much, much better.”
(Every auto concall’s favourite sentence)
4. Numbers Decoded
Metric Q2 FY26 What It Really Means
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Revenue ₹217 cr Flat, but not alarming
EBITDA ₹36 cr Cost control doing heavy lifting
EBITDA Margin 16.4% Elite for auto ancillaries
PAT ₹23 cr Stability amid disruption
Exports Mix 26% UK dominates Europe
Cyberattack Impact ~₹10 cr Temporary, but painful
Gasket and Forging stayed flat. Marelli JV did the real lifting.
5. Analyst Questions
- “What new customers were added?”
Answer:
