Studds Accessories Limited reported a year-on-year rise in net profit to ₹82.7 crore for FY26, up from the prior fiscal year. The helmet manufacturer also logged total revenue of ₹634.2 crore, reflecting steady growth in its core business segments.

The company disclosed these figures in an investor presentation displayed during its 44th Annual General Meeting on September 5, 2026. Management highlighted disciplined growth across brands, markets, and capacity as key drivers for the period.

Financial Performance

Revenue grew by 8.6% year-on-year to reach ₹634.2 crore. EBITDA expanded at a faster pace, rising 16.4% to ₹122.2 crore. Profit before tax (PBT) increased by 17.5% to ₹111.6 crore, while PAT climbed 18.7%.

Return on capital employed (ROCE) improved slightly to 20.4% from 20.1% in FY25. The company maintained a debt-free balance sheet with tight working capital management.

Revenue Mix and Export Growth

Studds helmets accounted for 74.1% of total revenue in FY26, down from 78.6% in FY25. The premium brand SMK saw its share rise to 15.7% from 11.8%, indicating a shift toward higher-margin products. Private labels contributed 3.1%, while other accessories made up 7.0%.

Geographically, domestic sales constituted 79.9% of revenue, down from 83.5% in FY25. Export revenue share rose to approximately 20% from 16.75% in the previous year. The USA emerged as the largest export market, contributing 37.2% of export revenue, followed by Europe at 29.2%.

What the Numbers Show

EBITDA grew nearly twice as fast as revenue (16.4% vs 8.6%), driven by the higher contribution from the SMK brand, which carries margins approximately 10 percentage points above the core Studds line. This mix shift suggests improving operating leverage despite modest top-line growth.

Capacity and Future Plans

The company reported production volume of 8.27 million units against sales volume of 8.13 million units for helmets and boxes. Capacity utilization stood at 89% for the main manufacturing facility.

Studds is expanding its installed capacity through Facility V in Faridabad, Haryana. Phase I, with a planned capacity of 1.5 million units, is expected to be operational by Q2FY27. The total planned capacity for the new facility is 3 million units, aiming to increase overall installed capacity from ~9.5 million to 12.5 million units.

Strategic Initiatives

Management outlined four growth engines: premiumisation via the SMK brand, deeper market penetration in exports, capacity expansion, and long-term diversification into riding gear and smart-safety platforms. The company aims for medium-term revenue ambition exceeding ₹1,000 crore.

In CSR activities, Studds spent its entire obligation of ₹1.46 crore during FY26 on health, education, and environmental conservation projects. The company declared a dividend payout of 60%, with ₹3 per equity share.

Studds Accessories declared a final dividend of ₹3 per equity share for FY26 at its 44th Annual General Meeting held on September 5, 2026.

The payout represents 60% of the face value of ₹5 per share. The meeting was conducted through video conferencing in compliance with the Companies Act, 2013, and SEBI Listing Obligations Regulations.

Key Resolutions Passed

Shareholders approved several ordinary and special resolutions during the proceedings. The key outcomes included:

• Adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026.
• Declaration of the final dividend for FY26.
• Re-appointment of Ms. Shilpa Arora as a Whole-time Director, who retires by rotation.

Employee Stock Option Scheme

The company secured approval for two special resolutions related to employee compensation. Members approved the introduction of the Studds Accessories Limited Employee Stock Option Scheme 2026. This scheme aims to retain and reward employees by aligning their interests with shareholders.

Additionally, shareholders approved granting ESOP options to eligible employees of subsidiary companies, both in India and abroad, under the new scheme. The approvals comply with Section 62(1)(b) of the Companies Act, 2013, and SEBI Share Based Employee Benefits Regulations, 2021.

Meeting Details

The AGM commenced at 4:00 pm and concluded at 5:11 pm (IST), excluding time allocated for e-voting. A total of 80 members attended the meeting, confirming the requisite quorum.

Mr. Madhu Bhushan Khurana, Chairman & Managing Director, chaired the proceedings. Mr. Sidhartha Bhushan Khurana, Managing Director, presented the company’s business performance and developments. The Statutory Auditor’s reports and Secretarial Audit Report for FY26 were taken as read, with no qualifications or adverse remarks noted.

E-voting results will be declared within two working days and made available on the company’s website and stock exchange portals.