SPR Auto Technologies Limited has submitted a statement confirming the complete utilization of proceeds from its recently listed Non-Convertible Debentures (NCDs). The company raised a total of ₹1,000 crore via a private placement on February 23, 2026, issuing Series I and Series II debentures. The disclosure, filed on May 21, 2026, confirms compliance with the objects outlined in the Key Information Document dated February 17, 2026.

Utilization of Issue Proceeds

The company reported that the entire amount raised has been deployed towards the intended purposes. The funds were primarily utilized for the refinancing of existing debt availed for the acquisition of stakes in three entities formerly associated with Spain's Grupo Antolin. Additionally, proceeds were used for payment of issue-related expenses and general corporate purposes.

The following table details the utilization of funds for each series:

Compliance and Deviation Status

The company explicitly stated that there have been no deviations or variations in the use of proceeds from the objects stated in the Offer Document. Consequently, no approvals were required to vary the objects of the issue. The audit committee has reviewed the utilization, and the auditors have provided their comments, confirming adherence to the regulatory framework.

Background on Subsidiary Renaming

As part of the disclosure, the company noted that the names of the target entities acquired using the debt have been changed. Antolin Lighting India Private Limited is now SPR Auto Interior Lighting Solutions Private Limited, while Grupo Antolin India Private Limited and its subsidiary have been renamed to SPR Auto Interior Solutions Private Limited and SPR Auto Interior Solutions Chakan Private Limited, respectively. These name changes became effective in March 2026.

SPR Auto Technologies Limited announced its audited standalone and consolidated financial results for the quarter and full year ended March 31, 2026, reporting its highest-ever performance across all key metrics. The Board of Directors, at its meeting held on May 11, 2026, approved a final dividend of Rs. 5 per equity share and a Qualified Institutions Placement (QIP) of up to Rs. 10,000 million. The 62nd Annual General Meeting (AGM) is scheduled for July 27, 2026.

Management Commentary

Mr. Krishnakumar Srinivasan, Managing Director & CEO, described FY26 as a landmark year marked by record Consolidated Total Income and EBITDA. He noted that the auto industry recorded its highest-ever sales across all segments, with PV sales growing by 8% YoY, 2W sales by 11% YoY, and 3W & CVs by 13% YoY each. This demand was driven by the introduction of GST 2.0, income tax reforms, and reduced financing costs. He highlighted that Q4FY26 was a historic quarter, with the industry recording its highest-ever quarterly sales volumes. The company successfully completed the acquisition of three Indian entities of the Antolin Group on January 8, 2026, which delivered strong performance during the quarter.

Post-Results Conference Call: Key Guidance

Following the results announcement, management shared forward-looking guidance during the earnings conference call. Key highlights from the concall are summarised below:

Management expects to maintain group profitability at levels similar to the standalone company, with Antolin's EBITDA margins improving from the current 9-10% range to closer to 20%+ within three years, driven by synergies and insourcing. On the QIP, management clarified that the fundraise is intended for growth — encompassing both internal organic expansion and inorganic acquisitions — rather than for debt repayment. Management also projected EV penetration to reach 15% to 17% by 2030, within a 6% CAGR growth for overall volumes, indicating continued dominance of ICE vehicles, including hybrids. On capital expenditure, the company plans to continue investing in capacity expansion, with approximately INR 200 crores invested in FY26, and similar or higher figures expected annually for the next two to three years.

Q4 & FY26 Financial Performance – Consolidated

SPR Auto Technologies delivered strong consolidated financial performance for FY26, with total income rising 24.90% year-on-year, reaching a record consolidated total income of INR 4,571 crores and highest-ever EBITDA of INR 989 crores, growing 18% year-over-year. The company's consolidated results are presented below (all figures in Rs. million):

*Including Other Income.

Q4 & FY26 Financial Performance – Standalone

On a standalone basis, SPR Auto Technologies reported total income of Rs. 36,261 million for FY26, reflecting a 10.50% year-on-year increase. The detailed standalone results are as follows (all figures in Rs. million):

*Including Other Income.

Dividend, Fund Raising & Corporate Actions

The Board declared a final dividend of Rs. 5 per equity share (50%) for FY26, subject to shareholder approval at the ensuing AGM. This is in addition to the interim dividend of Rs. 5 per equity share already paid in February 2026, bringing the total dividend for FY26 to Rs. 10 per share. The record date for the final dividend has been fixed as Monday, July 20, 2026. The Board also approved a proposal to raise funds of up to Rs. 10,000 million via a QIP, primarily towards growth through organic expansion and inorganic acquisitions.

Strategic Diversification & Company Overview

The company invested close to Rs. 2,000 million for capacity expansion across various businesses. Key milestones include the acquisition of 100% stake in SPR Auto Interior Solutions Pvt. Ltd. and SPR Auto Interior Lighting Solutions Pvt. Ltd. (completed January 8, 2026) for a total purchase consideration of Rs. 17,083 million. Post these acquisitions, powertrain-agnostic products now contribute over 35% of consolidated total revenue, with approximately 60% of the business expected to be unaffected by EV penetration. The company operates 14 manufacturing plants and has a presence in 45+ countries across 5 continents.