Ppap Automotive Limited (PPAP)

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Ppap Automotive Limited (PPAP) · mywealthgrid

About

Ppap Automotive is an auto components manufacturer in Consumer Discretionary, with quarterly revenues ₹128–175 Cr and market cap ₹394.8 Cr. The company operates at 9% operating margins and has returned capital through five dividends in the past 12 months.

Face value: ₹10

Market cap

₹322 Cr

P/E

7.0×

P/B

0.9×

Dividend yield

1.8%

ROE

13.7%

ROCE

4.6%

Debt / equity

0.59

OPM

9.1%

EPS (TTM)

₹32.8

Book value

₹241.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Profit volatility: net profit ranges ₹-0.05–₹45.45 Cr per reporting basis, EPS swings -₹0.03–₹32.2; visibility into underlying earnings quality is limited

Operating margin compression: OPM fell from 10.97% (Mar 2026) to 7.93% (Jun 2026)—verify whether pressure is cyclical or structural to the customer base or operations

Leverage: D/E 0.59 leaves limited debt headroom; verify maturity profile and refinancing exposure in rate-sensitive auto sector

Customer concentration: verify OEM customer base stability and whether exposure to commercial vs. passenger vehicle production creates asymmetric cycle risk

Generated analysis · source review pending

Growth drivers

Quarterly revenue stable ₹128–175 Cr across 6 quarters; volume growth at current 9.14% OPM would expand profit—verify automotive component sector demand and OEM capex trends

Operating margin fell from 10.97% (Mar 2026) to 7.93% (Jun 2026); recovery to 9.7–10% level would add ₹10+ Cr annual profit without revenue growth

Regular dividends (five in 12 months) indicate cash generation; verify whether business model supports both capital returns and reinvestment needed for volume expansion

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹228.5-2.5%1Y

Quick read

rule-based

Pros

+Profit CAGR of 83.1% over the last 5 years
+High promoter holding of 64.3% with no pledge

Cons

−Low return on equity of 3.9% (3-yr avg)
−Weak interest coverage of 1×

Research score

Structured signal from quality, growth, valuation and momentum.

59/100

Business quality: 24
Growth: 57
Valuation: 96

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Samvardhana Motherson International LimitedMOTHERSONMOTHERSON	₹1,65,731 Cr	₹1,81,626 Cr	₹1,31,135 Cr	₹12,541 Cr	9.4%	₹4,380 Cr	3.2%	12.6%	10.2%	-26
Bosch LimitedBOSCHLTDBOSCHLTD	₹1,34,166 Cr	₹1,34,166 Cr	₹21,088 Cr	₹2,832 Cr	13.2%	₹2,363 Cr	13.8%	21%	19.4%	13
Bharat Forge LimitedBHARATFORGBHARATFORG	₹89,644 Cr	₹96,518 Cr	₹17,543 Cr	₹2,963 Cr	17.4%	₹706 Cr	6.5%	17.9%	11.5%	136
Uno Minda LimitedUNOMINDAUNOMINDA	₹64,160 Cr	₹66,698 Cr	₹20,725 Cr	₹2,280 Cr	11.5%	₹1,202 Cr	6.5%	19.3%	19.1%	37
Schaeffler India LimitedSCHAEFFLERSCHAEFFLER	₹60,732 Cr	₹60,787 Cr	₹10,505 Cr	₹1,917 Cr	18.2%	₹1,253 Cr	11.9%	27.3%	20.2%	68
Sona Blw Precision Forgings LimitedSONACOMSSONACOMS	₹50,071 Cr	₹50,314 Cr	₹4,935 Cr	₹1,207 Cr	24.7%	₹686 Cr	14.1%	14.6%	11%	121
Tube Investments Of India LimitedTIINDIATIINDIA	₹45,302 Cr	₹45,695 Cr	₹23,754 Cr	₹2,260 Cr	9.9%	₹607 Cr	4.9%	15.4%	9.6%	41
Endurance Technologies LimitedENDURANCEENDURANCE	₹36,602 Cr	₹37,928 Cr	₹15,592 Cr	₹2,058 Cr	13.5%	₹970 Cr	6.5%	18.5%	15.2%	-6
Exide Industries LimitedEXIDEINDEXIDEIND	₹34,803 Cr	₹35,896 Cr	₹18,829 Cr	₹1,954 Cr	10.4%	₹932 Cr	4.8%	8.9%	6.1%	42
Dhoot Transmission LimitedDHOOTTRANSDHOOTTRANS	₹29,518 Cr	₹30,359 Cr	₹4,525 Cr	₹711 Cr	15.7%	₹397 Cr	8.8%	30.8%	23.1%	69
Craftsman Automation LimitedCRAFTSMANCRAFTSMAN	₹26,897 Cr	₹30,238 Cr	₹8,717 Cr	₹1,357 Cr	15.3%	₹465 Cr	4.8%	16.1%	12.5%	74
Sansera Engineering LimitedSANSERASANSERA	₹26,686 Cr	₹27,144 Cr	₹3,753 Cr	₹696 Cr	18.1%	₹351 Cr	9.3%	14.7%	11.1%	98

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	360	322	422	511	523	554	567
COGS	195	183	256	314	313	317	318
Gross profit	164	139	166	198	210	237	249
	115	108	131	161	171	178	197
	50	31	35	36	39	58	52
OPM %	13.9%	9.7%	8.3%	7.1%	7.5%	10.6%	9.1%
Depreciation	26	26	29	31	34	34	36
Interest	3	4	7	12	15	16	17
	1	2	1	1	2	1	51
Profit before tax	22	3	0	-5	-8	9	50
Tax	4	1	1	1	5	2	7
Tax %	17.4%	35%	707.7%	16.2%	61.9%	21.1%	14.2%
	18	2	-1	-6	-13	7	43
PAT margin %	5.1%	0.7%	-0.2%	-1.2%	-2.5%	1.3%	7.6%
EPS (₹)	13	1.5	0.6	-4.3	-9.3	5	30.6
EPS adjusted (₹)	—	1.5	-0.6	-4.2	-9.3	5	30.6
	23.1%	66.7%	267.9%	—	—	50.3%	8.2%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	14	14	14	14	14	14
Reserves	292	290	281	269	274	327
	52	108	151	159	166	201
	85	88	102	113	114	199
Total equity & liabilities	443	500	548	555	568	741
	244	284	318	310	307	317
CWIP	20	21	9	15	24	43
Investments	46	46	42	43	44	96
	133	149	179	188	193	286
Total assets	443	500	548	555	568	741

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	45.7%	43.2%	39.4%	38.6%	40.2%	42.8%	44%
EBITDA margin %	14.1%	10.2%	9.2%	8.6%	7.6%	10.3%	9.1%
EBIT margin %	7%	2%	2.2%	2.5%	1.1%	4.1%	2.9%
PAT margin %	5.1%	0.7%	-0.2%	-1.2%	-2.5%	1.3%	7.6%
Working capital
Receivable days	—	68	48	46	51	48	67
Inventory days	—	90	80	89	81	70	111
Payable days	—	96	69	74	67	77	115
NWC days	—	63	59	61	65	41	63
Leverage
Current ratio	—	1.49	1.31	1.03	0.95	0.89	1.02
Debt to EBITDA	—	1.59	2.8	3.43	4.01	2.91	3.87
Debt to equity	—	0.17	0.36	0.51	0.56	0.58	0.59
Interest coverage	9.7	2.3	1.6	1.2	0.5	1.5	1
Asset turnover	—	0.73	0.84	0.93	0.94	0.98	0.76
Return ratios
Return on assets %	—	0.5%	-0.2%	-1.1%	-2.3%	1.2%	5.8%
Return on capital employed %	—	2.3%	2.7%	3.6%	1.9%	6.5%	4.6%
Return on equity %	—	0.7%	-0.3%	-2%	-4.6%	2.4%	12.7%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	65.01%	65.01%	65.01%	64.61%	64.61%	64.61%	64.61%	64.48%	64.48%	64.48%	64.48%	64.3%
	5.7%	5.7%	5.75%	5.67%	5.76%	5.67%	5.67%	5.66%	5.65%	5.7%	5.66%	5.84%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	29.29%	29.29%	29.24%	29.72%	29.63%	29.72%	29.72%	29.86%	29.87%	29.82%	29.86%	29.86%
No. of shareholders	—	—	—	—	—	—	—	—	15,752	15,450	15,228	15,487

Promoter holding down 0.71 percentage points since Sep 2023.

26 deals · 15 Sept 2023 – 13 Jul 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
13 Jul 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	1,26,080	₹356.74	₹4.50 Cr
13 Jul 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	1,22,401	₹356.68	₹4.37 Cr
13 Jul 2026	ALPHAGREP SECURITIES PRIVATE LIMITED	Bulk	NSE	Buy	1,19,464	₹354.53	₹4.24 Cr
13 Jul 2026	ALPHAGREP SECURITIES PRIVATE LIMITED	Bulk	NSE	Sell	1,19,464	₹354.18	₹4.23 Cr
13 Jul 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Sell	1,04,314	₹355.52	₹3.71 Cr
13 Jul 2026	NK SECURITIES RESEARCH PRIVATE LIMITED	Bulk	NSE	Buy	1,04,314	₹355.22	₹3.71 Cr
13 Jul 2026	QE SECURITIES LLP	Bulk	NSE	Buy	1,02,939	₹355.98	₹3.66 Cr
13 Jul 2026	QE SECURITIES LLP	Bulk	NSE	Sell	1,01,683	₹352.80	₹3.59 Cr
13 Jul 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	94,357	₹357.29	₹3.37 Cr
13 Jul 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	94,357	₹357.09	₹3.37 Cr

1–10 of 26

1 / 3

Mr. Ajay Kumar JainExecutive Director-Chairperson related to Promoter-MD
Mr. Abhishek JainExecutive Director-CEO-MD
Mr. Vinay Kumari JainNon-Executive - Non Independent Director
Mr. Deepak Kumar SethiNon-Executive - Independent Director
Mrs. Rohit RajputNon-Executive - Independent Director
Mrs. Meeta MakhanNon-Executive - Independent Director
Mrs. Meeta MakhanNon - Executive Independent Director
Mr. Sachin JainChief Financial Officer (Interim)
Ms. Pankhuri AgarwalCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Ppap Automotive Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

23 announcementsExport CSV

30 Sept 2026, 8:18 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of Court Convened Meeting

Court Convened Meeting PDF

18 Sept 2026, 5:15 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

18 Sept 2026, 3:12 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

31 Aug 2026, 3:52 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

29 Aug 2026, 5:21 pmCompany Update

Announcement under Regulation 30 (LODR)-Scheme of Arrangement

Scheme of Arrangement PDF

29 Aug 2026, 5:17 pmCompany Update

Announcement under Regulation 30 (LODR)-Scheme of Arrangement

Scheme of Arrangement PDF

29 Aug 2026, 5:12 pmCompany Update

Announcement under Regulation 30 (LODR)-Scheme of Arrangement

Scheme of Arrangement PDF

25 Aug 2026, 2:59 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
30 Sept 2026, 8:18 pm	AGM/EGM Court Convened Meeting	Shareholder Meeting / Postal Ballot-Outcome of Court Convened Meeting	PDF
18 Sept 2026, 5:15 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	45.7%	43.2%	39.4%	38.6%	40.2%	42.8%	44%
EBITDA margin %	14.1%	10.2%	9.2%	8.6%	7.6%	10.3%	9.1%
EBIT margin %	7%	2%	2.2%	2.5%	1.1%	4.1%	2.9%
PAT margin %	5.1%	0.7%	-0.2%	-1.2%	-2.5%	1.3%	7.6%
Working capital
Receivable days	—	68	48	46	51	48	67
Inventory days	—	90	80	89	81	70	111
Payable days	—	96	69	74	67	77	115
NWC days	—	63	59	61	65	41	63
Leverage
Current ratio	—	1.49	1.31	1.03	0.95	0.89	1.02
Debt to EBITDA	—	1.59	2.8	3.43	4.01	2.91	3.87
Debt to equity	—	0.17	0.36	0.51	0.56	0.58	0.59
Interest coverage	9.7	2.3	1.6	1.2	0.5	1.5	1
Asset turnover	—	0.73	0.84	0.93	0.94	0.98	0.76
Return ratios
Return on assets %	—	0.5%	-0.2%	-1.1%	-2.3%	1.2%	5.8%
Return on capital employed %	—	2.3%	2.7%	3.6%	1.9%	6.5%	4.6%
Return on equity %	—	0.7%	-0.3%	-2%	-4.6%	2.4%	12.7%

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	26	28	35	41	52	14
	-49	-71	-62	-30	-35	-40
	21	42	28	-9	-17	28
Net cash flow	-2	-1	0	2	-0	1
Free cash flow	-23	-40	-18	14	43	-36
CFO / Operating profit %	80.3%	72.6%	78.9%	103.7%	91.3%	26.7%

Ppap Automotive Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

25

1

Compounded sales growth

Compounded profit growth

Return on equity

Ppap Automotive Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

Ratio timeline

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends25

Board meetings1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

25

1