Studds Accessories Ltd.
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ABOUT
AI Sector View
AI GENERATEDAutomobile and Auto Components
Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.
PROS
- Company is almost debt free
- Promoters have been increasing their shareholding - up 61.5pp over 2 years
- Company has a healthy return on capital (ROCE) of 22.5%
- Operating margins have improved to 19.1% from 13.1%
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.06x)
CONS
- Equity base is being diluted - shares outstanding up 100.0%
- Company has delivered a poor profit growth of 2.5% over past five years
- Company has delivered a poor sales growth of 5.6% over past five years
- Though reporting repeated profits, the company pays out little dividend (14.1%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MOTHERSON | 164.30 | 39.59 | 173409.49 | 0.37 | 1075.66 | 77.48 | 35243.77 | 17.70 | 13.63 | 8.86 |
| BOSCHLTD | 48388.75 | 60.40 | 142727.94 | 0.56 | 706.10 | -36.74 | 5841.90 | 22.00 | 25.60 | 14.08 |
| UNOMINDA | 1202.40 | 57.75 | 69434.66 | 0.22 | 315.51 | 2.10 | 5556.85 | 23.79 | 20.74 | 11.14 |
| TIINDIA | 2607.25 | 83.21 | 50469.14 | 0.13 | 293.96 | -3.04 | 6215.33 | 20.20 | 27.33 | 8.81 |
| SONACOMS | 788.95 | 70.76 | 49240.61 | 0.43 | 178.51 | 46.67 | 1301.20 | 52.38 | 14.75 | 22.55 |
| ENDURANCE | 2696.75 | 39.11 | 37933.25 | 0.43 | 244.52 | 8.03 | 4314.89 | 30.01 | 18.33 | 12.42 |
| CRAFTSMAN | 11663.75 | 65.61 | 30505.88 | 0.10 | 150.55 | 116.31 | 2431.58 | 36.30 | 14.65 | 15.81 |
| ZFCVINDIA | 2548.90 | 58.10 | 29007.88 | 0.03 | 1044.78 | 753.75 | 10661.76 | 992.89 | 20.23 | 12.93 |
| SANSERA | 4130.20 | 73.97 | 25773.92 | 0.10 | 87.36 | 38.71 | 1021.26 | 33.27 | 14.29 | 19.18 |
| MSUMI | 36.30 | 38.37 | 24072.93 | 1.60 | 1453.20 | 915.51 | 34072.60 | 1273.43 | 43.72 | 7.58 |
| GABRIEL | 1345.45 | 80.11 | 23845.41 | 0.37 | 1081.26 | 925.35 | 14256.83 | 1055.00 | 26.37 | 11.71 |
| STUDDS | 416.25 | 21.92 | 1638.09 | 0.72 | 122.97 | 507.38 | 1696.76 | 1037.09 | 23.20 | 11.52 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|
| 145 | 149 | 149 | 148 | 154 | 161 | 166 | 167 | |
| 118 | 122 | 121 | 123 | 124 | 131 | 135 | 152 | |
| Operating Profit | 27 | 27 | 27 | 25 | 31 | 31 | 32 | 15 |
| OPM % | 18.58% | 18.14% | 18.44% | 16.90% | 19.81% | 19.11% | 19.07% | 8.72% |
| 3 | 2 | 5 | 3 | 3 | 3 | 3 | 3 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
| Profit before Tax | 24 | 24 | 26 | 28 | 28 | 28 | 29 | 18 |
| Tax % | 26.23% | 26.65% | 26.44% | 26.48% | 23.94% | 26.67% | 26.73% | 25.58% |
| Net Profit | 18 | 18 | 19 | 20 | 21 | 21 | 22 | 13 |
| 9.03 | 9.02 | 9.89 | 5.20 | 5.40 | 5.21 | 5.47 | 3.37 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 272 | 328 | 389 | 415 | 480 | 463 | 499 | 529 | 583 | 630 | 649 | |
| 232 | 275 | 324 | 316 | 369 | 408 | 439 | 439 | 477 | 506 | 541 | |
| Operating Profit | 40 | 52 | 65 | 98 | 111 | 54 | 60 | 90 | 106 | 125 | 108 |
| OPM % | 14.85% | 15.96% | 16.77% | 23.65% | 23.07% | 11.75% | 12.07% | 17.07% | 18.16% | 19.77% | 16.60% |
| 2 | 5 | 8 | 6 | 5 | 5 | 7 | 7 | 12 | 12 | 12 | |
| Interest | 1 | 0 | 0 | 1 | 4 | 3 | 3 | 2 | 1 | 2 | 1 |
| Depreciation | 5 | 6 | 6 | 7 | 13 | 17 | 18 | 19 | 21 | 21 | 21 |
| Profit before Tax | 37 | 51 | 67 | 95 | 98 | 40 | 47 | 76 | 96 | 113 | 103 |
| Tax % | 35.65% | 36.13% | 38.70% | 21.89% | 24.72% | 28.44% | 28.56% | 25.07% | 26.35% | 25.96% | 25.76% |
| Net Profit | 24 | 33 | 41 | 75 | 74 | 29 | 33 | 57 | 71 | 84 | 77 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 37.61 | 14.55 | 16.90 | 29.08 | 17.98 | 21.28 | — |
| Dividend Payout % | 4.17% | 0.33% | 14.34% | 10.56% | 10.64% | 20.61% | 23.66% | 13.75% | 13.90% | 14.10% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 9%
- 5 Years:
- 6%
- 3 Years:
- 8%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 13%
- 5 Years:
- 3%
- 3 Years:
- 36%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- 23%
- 5 Years:
- 14%
- 3 Years:
- 17%
- Last Year:
- 17%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1 | 1 | 10 | 10 | 10 | 10 | 10 | 10 | 20 | 20 |
| 86 | 118 | 148 | 206 | 280 | 301 | 328 | 378 | 431 | 505 | |
| 4 | 27 | 67 | 63 | 33 | 47 | 34 | 9 | 7 | 5 | |
| Trade Payables | 25 | 34 | 36 | 34 | 63 | 50 | 35 | 31 | 32 | 48 |
| 25 | 43 | 41 | 35 | 49 | 48 | 55 | 58 | 65 | 58 | |
| Total Liabilities | 142 | 223 | 302 | 348 | 434 | 455 | 461 | 486 | 554 | 636 |
| 81 | 125 | 130 | 156 | 266 | 310 | 311 | 331 | 334 | 333 | |
| Capital Work in Progress | 1 | 6 | 58 | 84 | 6 | 10 | 10 | 10 | 25 | 53 |
| 0 | 0 | 0 | 2 | 2 | 2 | 2 | 0 | 3 | 4 | |
| 11 | 13 | 13 | 19 | 29 | 42 | 35 | 40 | 55 | 72 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 28 | 44 | 44 | |
| Cash & Bank | 42 | 64 | 76 | 50 | 74 | 37 | 27 | 59 | 72 | 85 |
| 7 | 15 | 25 | 36 | 57 | 54 | 75 | 17 | 21 | 45 | |
| Total Assets | 142 | 223 | 302 | 348 | 434 | 455 | 461 | 486 | 554 | 636 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 40 | 57 | 51 | 87 | 94 | 24 | 39 | 72 | 64 | 88 | |
| Cash from Investing | -21 | -32 | -82 | -27 | -34 | -40 | 1 | -18 | -49 | -44 |
| Cash from Financing | -0 | -4 | 46 | -26 | -17 | 3 | -23 | -41 | -12 | -12 |
| 2 | 7 | -7 | 10 | 22 | -25 | 6 | 13 | 3 | 32 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-08 - Studds Accessories Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 05, 2026. Further, the company has informed the Exchange regarding voting results.
2026-09-06 - Presentation displayed during the 44th Annual General Meeting of the Company
2026-09-05 - Studds Accessories Limited has informed the Exchange regarding Proceedings of 44th Annual General Meeting held on September 05, 2026
2026-08-27 - Studds Accessories Limited has informed the Exchange about Resignation of Director/KMP/SMP
2026-08-27 - Studds Accessories Limited has informed the Exchange regarding Resignation of Manish Mehta as Vice President- Taxation & Compliance and Senior Management Personnel of the company w.e.f. August 27, 2026.
2026-08-24 - Newspaper advertisement regarding the Opening of Special Window for Transfer and Dematerialisation of Physical Securities
2026-08-14 - Transcript for the Earning Conference Call for Analysts/Investors held on August 10, 2026 in connection with the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026
2026-08-13 - Newspaper publication, interalia, for e-voting information for the 44th Annual General Meeting of the Company.
2026-08-12 - Studds Accessories Limited has completed dispatch of letters providing the weblink of exact pathway where the complete details of the Annual Report of the Company for Financial Year 2025-26 can be accessed
News
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