Quarterly ResultsCreated 10 August 20261 min read

Studds Accessories Sees Sharp Profit Squeeze Despite Revenue Growth

The helmet maker's revenue grew nearly 14% year-on-year, but profit fell by over 39% as net margins contracted sharply.

Studds Accessories reported a mixed Q1 FY27. While revenue continued its steady climb, profit fell sharply, indicating significant pressure on profitability.

Studds Accessories, the world's largest two-wheeler helmet manufacturer, delivered a quarter of contrasting fortunes. While revenue growth remained healthy, profitability took a significant hit, pointing to a sharp margin squeeze in the first quarter of FY27.

Revenue for the quarter ended June 2026 rose to ₹169.68 crore, a 13.7% increase from the same period last year. This continues a steady multi-quarter uptrend in the company's top line. However, profit after tax (PAT) fell sharply to ₹12.3 crore, down 39.3% year-on-year and 41.7% sequentially from the previous quarter. This divergence resulted in a net profit margin of just 7.2%, a steep decline of 640 basis points from the 13.6% margin in Q1 FY26.

The recent quarterly performance highlights the growing pressure on the bottom line.

Revenue (₹ Cr)

Profit (₹ Cr)

Net Profit Margin (%)

Metric	CurrentQ1 FY27	PreviousQ4 FY26	Same quarter LYQ1 FY26
Period	Jun 2026	Mar 2026	Jun 2025
Revenue (₹ Cr)	169.68YoY +14%	167.54	149.22
Profit (₹ Cr)	12.3YoY -39%	21.1	20.25
Net Profit Margin (%)	7.2YoY -47%	12.6	13.6

Despite the quarterly profit dip, the company's trailing twelve-month (TTM) performance shows a net profit margin of 11.4% on revenue of ₹654.69 crore, suggesting the Q1 figure is a notable deviation from the recent trend. The key question for investors is whether this quarter's margin compression is a temporary blip or the start of a new, less profitable phase for the business.

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ISIN: INE00Q601028

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