PPAP Automotive

NSE: PPAP · Auto Components & Equipments

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52W Range₹176 – ₹380

Snapshot

Unlock PPAP Automotive's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

PPAP Automotive specialises in the design and manufacture of plastic extrusion systems, injection moulding systems, and high-precision tooling for the automotive industry. The company provides advanced body sealing systems and interior/exterior components that are compatible with both internal combustion engine and electric vehicles.

Business Model

The company operates as a Tier-1 supplier to major automotive original equipment manufacturers, generating revenue through the supply of engineered plastic components. It leverages technical collaborations and in-house tooling capabilities to serve the passenger vehicle, two-wheeler, and commercial vehicle segments.

Growth Outlook

Growth is driven by the company's engine-agnostic product portfolio, which allows it to capture demand across both traditional and electric vehicle platforms. Expanding its customer base across diverse vehicle segments remains a key strategic focus.

Key Risks

  • Cyclicality of Automotive Industry. The company's performance is highly sensitive to fluctuations in automotive production volumes and consumer demand for new vehicles.
  • Raw Material Price Volatility. Fluctuations in the prices of polymers and other plastic-based raw materials can significantly impact operating margins.
  • Customer Concentration. Heavy reliance on a limited number of automotive OEMs exposes the company to risks associated with the production schedules and market performance of these specific clients.
  • Technological Disruption. The rapid transition toward electric vehicles requires continuous investment in R&D to ensure existing product lines remain relevant and competitive.

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Key Metrics

REVENUE

₹607 Cr

TTM · consolidated

+10.7%YoY

NET PROFIT

₹46 Cr

TTM · consolidated

+900.9%YoY

EPS

₹32.83

TTM · consolidated

+897.9%YoY

RETURN ON EQUITY

14.7%

TTM · consolidated

+13.1 ppYoY

RETURN ON CAPITAL EMPLOYED

18.6%

TTM · consolidated

+12.8 ppYoY

P/E

7.0x

Q1 FY27 · consolidated

7.0 vs 60.4x5Y avg

EV/EBITDA

9.4x

Q1 FY27 · consolidated

9.4 vs 9.7x5Y avg

EBITDA MARGIN

9.5%

TTM · consolidated

-0.7 ppYoY

NET PROFIT MARGIN

0.6%

Q1 FY27 · consolidated

+2.5 ppYoY

DEBT TO EQUITY

0.6x

Q1 FY27 · consolidated

+0.01xYoY

Peers · Auto Components & Equipments

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
PPAP AutomotivePPAP
₹346 Cr6.969.4010.7%9.5%14.7%18.6%+7.8%
Hindustan Composites LimitedHINDCOMPOS
₹575 Cr17.3912.83-8.1%14.5%2.9%2.7%-15.7%
Munjal ShowaMUNJALSHOW
₹534 Cr20.0511.7312.3%3.3%3.7%4.8%-11.6%
Omax AutosOMAXAUTO
₹449 Cr10.625.3531.8%17.2%12.2%17.5%+51.5%
Autoline Industries LimitedAUTOIND
₹398 Cr9.257.92—9.6%20.2%24.1%+9.6%
Menon PistonsMENNPIS
₹377 Cr13.967.4416.1%16.6%15.6%21.5%+9.9%

As of Q1 FY27

Financials