Enkei Wheels September PBT falls to Rs 9.592 crore as revenue rises

Enkei Wheels (India) Limited reported profit before exceptional items and tax of Rs 9.592 crore for the quarter ended 30 September 2026, down from Rs 13.855 crore in the preceding quarter, while revenue from operations rose to Rs 319.032 crore from Rs 285.108 crore. The board approved the unaudited results on 4 November 2026.

What did Enkei Wheels report for September 2026?

Enkei Wheels reported Rs 319.032 crore of revenue from operations for the quarter ended 30 September 2026, an increase of Rs 33.924 crore from Rs 285.108 crore in the quarter ended 30 June 2026. The sequential increase was about 11.9% based on the reported revenue figures, but profit before exceptional items and tax moved in the opposite direction.

Profit before exceptional items and tax was Rs 9.592 crore in the September 2026 quarter, Rs 4.263 crore below the Rs 13.855 crore reported for the June 2026 quarter. That represents a sequential fall of about 30.8%, based on the two reported quarterly figures, despite the increase in revenue from operations.

Enkei Wheels recorded profit for the period of Rs 7.281 crore in the September 2026 quarter and total comprehensive income of Rs 7.083 crore. Other comprehensive loss was Rs 0.198 crore, compared with a loss of Rs 0.920 crore in the June 2026 quarter, while both basic and diluted earnings per share were Rs 4.05.

Why did Enkei Wheels’ pre-tax profit decline despite revenue growth?

Enkei Wheels did not provide a narrative bridge identifying an operating-cost, pricing, volume or product-mix reason for the decline from Rs 13.855 crore of pre-exceptional pre-tax profit in June 2026 to Rs 9.592 crore in September 2026. The filing establishes that revenue increased by Rs 33.924 crore sequentially while the reported pre-tax measure declined by Rs 4.263 crore, without attributing the change to one specific factor.

The results disclose an accounting adjustment related to foreign-currency borrowings. Under Indian Accounting Standard 23, or Ind AS 23, Enkei Wheels recorded Rs 1.730 crore of adjustment for the quarter ended 30 September 2026, compared with Rs 0.197 crore for the quarter ended 30 June 2026. The company treats exchange losses arising from foreign-currency borrowings as borrowing costs to the extent they are regarded as an adjustment to interest costs.

For the nine months ended 30 September 2026, the related adjustment was Rs 2.993 crore, compared with Rs 3.559 crore for the nine months ended 30 September 2025. Enkei Wheels also said that subsequent gains on settlement or translation of borrowings, up to exchange losses previously recognised, are recorded as an adjustment to interest; the disclosure explains the treatment rather than providing a forecast.

How did Enkei Wheels compare with the September 2025 quarter?

Enkei Wheels reported Rs 9.592 crore of profit before exceptional items and tax in the quarter ended 30 September 2026, compared with Rs 10.387 crore in the quarter ended 30 September 2025. The year-on-year reduction was Rs 0.795 crore, or about 7.7%, based on the quarterly figures in the results statement.

Revenue from operations was Rs 319.032 crore in the September 2026 quarter, compared with Rs 296.382 crore a year earlier. This was an increase of Rs 22.650 crore, or about 7.6%, meaning the year-on-year rise in revenue was accompanied by a lower pre-exceptional pre-tax result.

Basic earnings per share were Rs 4.05 for the September 2026 quarter, below Rs 4.42 for the September 2025 quarter. The company states that the earnings-per-share figures are not annualised, except for yearly earnings per share, and are based on equity shares with a face value of Rs 5 each.

Other comprehensive loss narrowed to Rs 0.198 crore in the September 2026 quarter from Rs 0.370 crore in the September 2025 quarter. The disclosure places remeasurement gains or losses on defined-benefit obligations and associated tax effects in items that will not be reclassified to profit or loss, rather than in the reported profit for the period.

What do the filing and auditor review say about Enkei Wheels’ business?

Enkei Wheels identifies Automotive Wheels as its single operating segment under Ind AS 108, which governs operating-segment reporting. The chief operating decision maker evaluates the business on that basis, so the 30 September 2026 filing does not provide separate revenue, profit or asset figures by wheel product, customer type or geography.

The audit committee reviewed, and the board approved, the unaudited quarter and nine-month results at meetings held on 4 November 2026. Kirtane & Pandit LLP conducted a limited review of the results for the quarter and nine months ended 30 September 2026 and issued an unmodified review report.

Enkei Wheels said it was not identified as a Large Corporate under the criteria in the Securities and Exchange Board of India circular dated 26 November 2018. It also said previous-period figures had been regrouped or reclassified where necessary following amendments to Schedule III of the Companies Act, 2013, to conform with the current presentation.

Conclusion

Enkei Wheels’ September 2026 results show a divergence between quarterly revenue and pre-exceptional pre-tax earnings. Revenue from operations increased by Rs 33.924 crore from the June 2026 quarter, while profit before exceptional items and tax decreased by Rs 4.263 crore; profit for the period was Rs 7.281 crore and basic earnings per share were Rs 4.05.

The filing does not identify a specific operating reason for the sequential profit decline, leaving cost, pricing, volume and product-mix effects unresolved in the disclosed information. The next company disclosure can be assessed for whether the gap persists and for changes in the foreign-currency borrowing-cost adjustment, which was Rs 1.730 crore in the September 2026 quarter versus Rs 0.197 crore in the June 2026 quarter.