Enkei Wheels India Q4 FY26 revenue up 31% to ₹299 cr

Results announced for quarter ended March 31, 2026

Enkei Wheels (India) Ltd released its unaudited financial results for the quarter ended March 31, 2026. The company said the results were reviewed by the Audit Committee and approved by the Board of Directors at a meeting held on May 12, 2026. Revenue from operations for the March quarter (Q4 FY26) came in at ₹299.06 crore. The quarter was marked by higher expenses, but the company reported a sharper reduction in losses compared with the same period last year.

Board approval and regulatory process

The company had earlier scheduled a Board of Directors meeting for May 12, 2026 to consider and approve the unaudited financial results for the quarter ended March 31, 2026. In updates shared around the meeting, the venue was stated as the registered office in Pune, Maharashtra. The results were presented as unaudited and subject to a limited review process.

Revenue from operations: year-on-year and quarter-on-quarter movement

For Q4 FY26, revenue from operations was reported at ₹299.06 crore. This compared with ₹227.98 crore in Q4 FY25, implying a year-on-year increase of about 31.2% as cited in the company’s result summary. On a sequential basis, revenue from operations in Q3 FY26 was ₹245.38 crore, indicating improvement into the March quarter.

Total revenue for Q4 FY26, including other income, stood at ₹299.26 crore versus ₹228.12 crore a year ago. For Q3 FY26, total revenue was ₹250.41 crore.

Expense line remains elevated in the March quarter

Total expenses in Q4 FY26 were ₹299.78 crore, higher than ₹235.33 crore in Q4 FY25. The company’s quarterly expenses also slightly exceeded total revenue of ₹299.26 crore, which contributed to the reported net loss for the quarter.

In one explanation accompanying the results, the company pointed to borrowing costs and exchange rate related impacts on financial expenses. The company also reported exchange losses of ₹1.00 crore for the quarter, which were treated as interest costs. An exceptional loss of ₹0.13 crore was recorded in the quarter due to adjustments related to new labour codes.

EBITDA improvement, but quarter ends in loss

Despite the pressure on costs, Enkei Wheels (India) reported EBITDA of ₹18.80 crore for Q4 FY26, with an EBITDA margin of 6.30%. For Q4 FY25, EBITDA was ₹11.20 crore.

The company reported a loss before tax of ₹0.65 crore in Q4 FY26, compared with a loss before tax of ₹7.21 crore in Q4 FY25. After accounting for tax expense of ₹0.04 crore in Q4 FY26, it reported a net loss of ₹0.61 crore. This was a marked improvement from the net loss of ₹5.30 crore in Q4 FY25.

Full-year FY26 numbers disclosed alongside the quarter

Along with the March-quarter update, the company also disclosed full-year figures for FY26. For the year ended March 31, 2026, revenue from operations was ₹971.63 crore. Other income was ₹2.54 crore, taking total revenue to ₹974.16 crore.

For FY26, net profit was reported at ₹5.13 crore, with profit before tax of ₹6.72 crore. The company also reported total comprehensive income of ₹4.23 crore for the full year.

Key financial snapshot table

Audit review and reported accounting position

The results were described as reviewed by the Audit Committee and approved by the Board. The company also referenced an unmodified review report from statutory auditors, indicating no significant accounting concerns were flagged in the limited review.

Market impact: what investors can infer from the disclosed numbers

The March-quarter performance shows a clear improvement in scale, with revenue rising versus both the preceding quarter and the year-ago quarter. At the same time, the expense line remained tight, with total expenses slightly higher than total revenue in Q4 FY26. That arithmetic explains why the quarter still ended in a loss despite an EBITDA figure of ₹18.80 crore.

The year-end numbers disclosed alongside the quarter provide additional context, showing FY26 revenue from operations of ₹971.63 crore and net profit of ₹5.13 crore. Investors tracking quarterly volatility may focus on the narrowing of the March-quarter loss to ₹0.61 crore from ₹5.30 crore in Q4 FY25, and the specific cost items highlighted for the quarter, including exchange losses treated as interest costs and the exceptional loss tied to labour code adjustments.

Why this result matters

The Q4 FY26 update is a reminder that revenue growth does not automatically translate into quarterly profitability when costs rise in tandem. The company’s disclosure also highlights how finance-related factors, including exchange losses treated as interest costs, can influence bottom-line outcomes even when operating metrics improve.

The approval date is also important for tracking corporate timelines, because the results were reviewed by the Audit Committee and approved by the Board on May 12, 2026, aligning with the scheduled board meeting announced for the same date.

Conclusion

Enkei Wheels (India) closed Q4 FY26 with revenue from operations of ₹299.06 crore and a net loss of ₹0.61 crore, improving sharply from the year-ago loss. The Board approved the unaudited results on May 12, 2026, and the company’s disclosures pointed to exchange losses and a labour-code related exceptional item as notable quarter-specific factors.