Viaz Tyres FY26 PAT rises 58% to ₹527.33 lakh
Viaz Tyres Limited reported a 58% YoY increase in consolidated PAT to ₹527.33 lakh for FY26, while revenue from operations surged 89.2% to ₹10,834.36 lakh. EBITDA rose 31.5% to ₹957.02 lakh, and the company turned cash flow from operations positive. Management highlighted the strategic transition to tyre manufacturing, with a new ₹50-55 crore facility in Mehsana scheduled for trial runs in November-December 2026. The company targets revenue of ₹160-170 crore next year and ₹350 crore by FY29, driven by the replacement demand in the tyre industry.
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Viaz Tyres Limited has reported a robust financial performance for the financial year ended March 31, 2026, with a 58% year-on-year increase in consolidated Profit After Tax (PAT) to ₹527.33 lakh. Revenue from Operations surged 89.2% to ₹10,834.36 lakh, driven by a strategic transition from a commodity-led tube business to a comprehensive tyre manufacturer. The company filed an investor presentation and the transcript of its earnings conference call held on May 20, 2026, under Regulation 30 of the SEBI (LODR) Regulations, 2015.
Consolidated Financial Performance
The financial statements indicate a turnaround in operational metrics, with EBITDA for the full year increasing by 31.5% to ₹957.02 lakh. Profit Before Tax (PBT) grew by 43.1% to ₹638.79 lakh, while Earnings Per Share (EPS) improved to ₹4.11 in FY26 from ₹2.72 in the previous year. The Half Year (H2) performance also reflected this upward trend, with H2FY26 revenue growing 127.6% to ₹6,574.04 lakh compared to H2FY25.
| Particulars | H2FY26 | H2FY25 | YoY (%) | FY26 | FY25 | YoY (%) |
|---|---|---|---|---|---|---|
| Revenue from Operations | 6,574.04 | 2,888.25 | 127.6% | 10,834.36 | 5,725.88 | 89.2% |
| Total Expenses | 6287.34 | 2629.76 | - | 10,290.14 | 5,332.30 | - |
| EBITDA | 534.82 | 427.01 | 25.2% | 957.02 | 727.81 | 31.5% |
| EBITDA Margins % | 8.14% | 14.78% | - | 8.83% | 12.71% | - |
| PBT | 366.51 | 294.73 | 24.4% | 638.79 | 446.25 | 43.1% |
| PAT | 325.53 | 203.74 | 59.8% | 527.33 | 333.81 | 58.0% |
| PAT Margins % | 4.95% | 7.05% | - | 4.87% | 5.83% | - |
| EPS | 2.28 | 1.66 | - | 4.11 | 2.72 | - |
Strategic Expansion and Outlook
Management emphasized that the company is evolving to capture higher realizations from the tyre segment, which offers better margins compared to tubes. The upcoming 1,50,000 sq. ft. manufacturing facility in Nandasan, Mehsana, is scheduled to commence trial runs in November-December 2026, with commercial production expected by the last quarter of FY27. This plant will enable the production of tyres across multiple categories, including 2W, 3W, LCV, and Agri/Farm segments.
The company has outlined a capital expenditure plan of ₹50-55 crore to support this expansion, funded through a mix of debt and equity. Management targets revenue scaling to ₹160-170 crore in the next financial year, with a long-term goal of reaching ₹350 crore by FY29. The investor presentation notes that over 70% of India's tyre demand is replacement-driven, providing a recurring revenue engine. Additionally, the company has reported becoming CFO positive, reflecting improved working capital cycles and stronger cash generation capabilities.
Historical Stock Returns for Viaz Tyres
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | -5.50% | -1.45% | -19.74% | +8.83% | -10.36% |
How will the company manage the potential margin pressure during the initial trial runs and ramp-up phase of the new Nandasan facility?
What specific debt-to-equity ratio does management plan to maintain while funding the ₹50-55 crore capital expenditure plan?
Will the shift towards the tyre segment sustain the current EBITDA margin levels once the new plant reaches full commercial capacity?
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