1. Opening Hook
As the world frets over EV adoption and China’s slowdown, SJS Enterprises quietly decided to outshine dashboards and margins alike. The company didn’t just decorate cars — it decorated investor portfolios with record-breaking growth. From plastic trims to premium aesthetics, they’ve gone from sticker makers to style enablers.As theBhagavad Gitareminds us — “Yogastha kuru karmani” — stay steadfast in duty, not the fruits. SJS just did that… and the fruits turned golden. 🍊Stick around — the shiny numbers get glossier ahead.
2. At a Glance
- Revenue up 25.4%– Outperformed industry growth 3x; someone’s clearly upgraded their paint job.
- EBITDA up 40.9%– Margins touched 29.6%; CFO calls it “operating leverage,” we call it sorcery.
- PAT up 48.4%– Investors grinning like kids on Diwali morning.
- Exports up 40.9%– Global OEMs can’t resist Indian flair anymore.
- Net Cash ₹1,589 crore– Debt-free and still flexing.
- ROCE 33.6%, ROE 20.4%– Clearly, aesthetics pay better than art school.
3. Management’s Key Commentary
K.A. Joseph:“SJS delivered its highest-ever quarterly performance across key parameters.”(Translation: We’ve hit numbers our old selves would’ve called Photoshop.)
Joseph:“Signed MOU with BOE Varitronix for automotive display manufacturing.”(Translation: Time to add some pixels to our plastics.)
Sanjay Thapar:“This marks our 24th consecutive quarter of outperformance.”(Translation: We’ve forgotten what ‘underperform’ even means 😏)
Thapar:“What was once annual in FY21 is now quarterly.”(Translation: We doubled output, not just optimism.)
Mahendra Naredi:“EBITDA margins improved 300 bps to 29.6%.”(Translation: Every CFO’s dream, every analyst’s disbelief.)
Thapar:“BOE partnership to make 4-wheeler display solutions in
India.”(Translation: China tech, Indian execution — what could go wrong?)
Thapar:“We’re targeting 14–15% revenue from exports by FY28.”(Translation: Global domination, one sticker at a time.)
4. Numbers Decoded
| Metric | Q2 FY26 | YoY Growth | Commentary |
|---|---|---|---|
| Revenue | ₹2,417.6 Cr | +25.4% | 3x industry growth — someone pressed the nitro button. |
| EBITDA | ₹728.4 Cr | +40.9% | Margins up 300 bps — efficiency on steroids. |
| PAT | ₹432.7 Cr | +48.4% | Net profits shining brighter than chrome. |
| EBITDA Margin | 29.6% | +300 bps | CFO’s “cost control” is pure art. |
| Export Revenue | ₹231.9 Cr | +40.9% | Global clients are queuing for Indian glitter. |
| Net Cash | ₹1,588.8 Cr | – | Can fund capex, dividends, or a small IPO of its own. |
SJS basically printed money — and labels — with equal precision.
5. Analyst Questions
Q:“How’s the consumer electronics foray going?”A:“Still exploring.”(Translation: We’re swiping right on opportunities but haven’t gone on a date yet.)
Q:“When does display tech revenue start?”A:“FY28.”(Translation: Till then, keep imagining dashboards in 4K.)
Q:“What about Nissan deal size?”
