Dhoot Transmission Q1 profit rises 38% as revenue jumps 50%, but margins narrow

Dhoot Transmission reported a 38% year-on-year rise in consolidated net profit to ₹132.6 crore for the quarter ended June 30, 2026, in its first quarterly results since listing on the stock exchanges.

The company's revenue rose 49.7% year-on-year to ₹1,446.4 crore from ₹966.3 crore in the year-ago period, according to the company's exchange filing.

EBITDA increased 29% to ₹218.4 crore from ₹169 crore a year earlier. However, EBITDA margin contracted to 15.1% in the June quarter from 17.5% in the corresponding period last year.

Depreciation and amortisation expenses increased 13.1% over the March quarter, primarily due to higher capitalisation and the impact of the Multilink acquisition for part of the quarter, the company said.

Shares of Dhoot Transmission were trading 0.8% higher at ₹1,595.50 at 3:25 pm on Friday. The stock has gained 35.3% so far this year.



Commenting on the performance, Rahul Dhoot, managing director of Dhoot Transmission, said growth in India's two- and three-wheeler automotive market remained robust, with the company's first-quarter business growth exceeding expectations.

“Our business growth for the first quarter was above our expectations with strong growth both in EVs and ICE vehicles,” Dhoot said.

He added that the electrification trend was supporting growth in both the company's wiring harness and non-wiring harness businesses.

“We are confident of delivering another year with strong growth,” Dhoot said.

The company is also progressing with the integration of its recently acquired Multilink business. Dhoot said the integration was progressing well and the company was confident of using the acquisition to meaningfully scale up its non-wiring harness business.

Multilink acquisition

Dhoot Transmission gained control of the Multilink business on June 11. The company said the majority of the consideration was paid in June, with the balance consideration paid in July and August.

Integration of the Multilink business is currently underway and is expected to be completed by the end of Q3 or early Q4.

During the quarter, Dhoot Transmission invested ₹499.11 crore in its wholly owned subsidiary Dhoot Automotive Systems Pvt Ltd to facilitate the acquisition of Multilink's undertaking through a Business Transfer Agreement.

The company also invested ₹2.82 crore in its wholly owned subsidiary Dhoot Transmission GmbH for general corporate purposes.

First results after IPO

Dhoot Transmission completed its initial public offering

after the June quarter. The IPO comprised a fresh issue of 16.08 million shares aggregating to ₹1,400 crore and an offer for sale of 19.14 million shares worth about ₹1,666.9 crore.

The shares were issued at ₹871 apiece, including a face value of ₹2 per share and a premium of ₹869.

Following the IPO, Dhoot Transmission's shares were listed on the NSE and BSE on August 17.

The company said it will provide an update on the utilisation of IPO proceeds from the next reporting period based on the actual utilisation of funds.

Dhoot Transmission operates in the automotive wiring harness and ancillary components business.

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