SJS Enterprises Q4 FY26: Strong Growth, Higher Margins, and a Bigger Aesthetics Playbook

Operating revenue was INR 2,601.2 million, EBITDA was INR 807.6 million (30.3 percent margin) and PAT was INR 488.7 million (18.8 percent margin).

FY26 operating revenue was INR 9,550.7 million, EBITDA INR 2,879.6 million (29.6 percent margin) and PAT INR 1,718.0 million (18.0 percent margin).

FY26 revenue mix was 38.3 percent two-wheeler, 41.7 percent passenger vehicle, 15.5 percent consumer, and 4.5 percent others.

Exports were INR 911.4 million in FY26 (9.5 percent of revenue). Management stated a target to increase exports share to 14 to 15 percent of consolidated revenue by FY28.

SJS signed a technology license cum supply agreement with BOE Varitronix for optical bonding and assembly of automotive display systems in India. Management indicated supplies are targeted around end of FY27 to early FY28.

Management guided about INR 220 crore of capex over three years starting FY26 across Bengaluru expansion, SJS Deocoplast chrome plating greenfield and the cover glass and display business; the display and cover glass investment was indicated at about INR 65 crore.