Dhoot Transmission reports Rs 218.43 cr operating profit in Q1FY27
The consolidated quarter carried a 15.1% operating margin, while the presentation outlines expansion in EV systems and vehicle electronics.
Filed 04 Sep 2026, 20:44 IST · after market close · DHOOTTRANS (DHOOTTRANS)
Key takeaways
- Dhoot Transmission generated consolidated Q1FY27 operating profit of Rs 218.43 cr at a 15.1% operating margin.
- Other income of Rs 10.65 cr was modest relative to profit before tax of Rs 173.95 cr, leaving operations as the main earnings source.
- The presentation links the company's expansion agenda to a 67:33 Ride Vision joint venture and a Multilink acquisition completed in 2026.
Q1FY27 operating profile
Dhoot Transmission reported consolidated revenue of Rs 1,446.41 cr and operating profit of Rs 218.43 cr in Q1FY27. The 15.1% operating margin converted into net profit of Rs 132.67 cr and EPS of Rs 7.04. The filing was made after market close on 4 Sep 2026, so there is no market reaction to assess yet.
Operating earnings led the profit mix
Other income of Rs 10.65 cr was small relative to profit before tax of Rs 173.95 cr, indicating that reported earnings were not driven mainly by non-operating income. Interest of Rs 15.49 cr and depreciation of Rs 39.64 cr reduced operating profit before tax, while the 23.73% tax rate further shaped net profit.
Expansion moves into EV and vehicle electronics
The presentation said the company acquired Multilink in 2026 to deepen its electrical and electronics presence in two-wheelers and three-wheelers. It also said the 67:33 Ride Vision joint venture is intended to supply, localise, integrate and market advanced driver and rider assistance systems. The company presentation additionally highlights high-voltage solutions, advanced battery packs and an in-built lever-based battery connector for electric two-wheelers.
Management's market-growth framework
Management's presentation projects India's domestic two-wheeler wiring-harness market to grow at a 14-16% CAGR from FY26 to FY31, against 7-9% for the three-wheeler market. It projects domestic two-wheeler OEM volumes to grow 6-8% and three-wheeler OEM volumes 5-7% over the same period. The presentation said the battery connector addresses recurring EV servicing inefficiencies where battery removal required dismantling the wiring harness.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹1,446 cr |
| Other income | ₹11 cr |
| Expenses | ₹1,228 cr |
| Operating profit | ₹218 cr |
| Operating margin (%) | 15.10% |
| Interest | ₹15 cr |
| Depreciation | ₹40 cr |
| Profit before tax | ₹174 cr |
| Tax | ₹41 cr |
| Net profit | ₹133 cr |
| EPS (₹) | ₹7.04 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Guidance & outlook
- India's domestic 2W wiring harness market is projected to grow at a 14-16% CAGR from FY26 to FY31.
- India's domestic 3W wiring harness market is projected to grow at a 7-9% CAGR from FY26 to FY31.
- Domestic 2W OEM volumes are projected to grow at 6-8% from FY26 to FY31.
- Domestic 3W OEM volumes are projected to grow at 5-7% from FY26 to FY31.
Expansion
- The company acquired Multilink in 2026 to deepen its electrical and electronics presence in 2W and 3W vehicles.
- The company established a 67:33 joint venture with Ride Vision in India in 2026.
- The Ride Vision joint venture is intended to supply, localise, integrate and market advanced driver and rider assistance systems.
New products
- The company offers high-voltage solutions and advanced battery packs for next-generation vehicles.
- The company has introduced a specialised in-built battery connector with a lever mechanism for EV two-wheelers.
Problems & risks
- Battery removal for EV servicing had recurring inefficiencies because it required dismantling the wiring harness.
What to watch
- Whether consolidated operating margin remains around 15.1% in the next reported quarter.
- Disclosure of the earnings contribution from the Multilink acquisition completed in 2026.
- Progress reported for the 67:33 Ride Vision joint venture and its advanced driver and rider assistance systems offering.