Operating Leverage Inflection
Expected: OngoingHIGH confidence
What: EBITDA Growth: 46% for 9M
Impact: 10% higher EBITDA than full year FY25
“EBITDA for the first nine-months of FY26 is nearly 10% higher than the full-year EBITDA of FY25.”
Uniparts India Ltd: Why Is It Outperforming Nifty 500?
ActiveRS +17.9%Average7w Streak
In , Uniparts India Ltd (Castings, Forgings & Fastners) is outperforming Nifty 500 with +17.9% relative strength. Fundamentals: Average. On a 7-week streak.
Uniparts India Ltd Key Facts
- PE Ratio
- 19.3x
- Market Cap
- ₹2,554 Cr
- PAT Growth YoY
- +74%
- Revenue Growth YoY
- +35%
- OPM
- 20.0%
- RS vs Nifty 500
- +17.9%
Emerging Opportunity
What's Happening
⏳Steady earner with flat PE — waiting for re-rate catalyst
🏛️DII reducing — stake down 3.7%
💰Trading 14% above estimated fair value
Earnings Acceleration Triggers
1. Operating Leverage Inflection
OngoingHIGH
2. Order Book Or Contract Wins
Trailing 12 monthsHIGH
3. Geographical Expansion
Q4 FY26MEDIUM
Key Risks
1. New wage code introduced in November 2025 impacted profitability by ₹3
LOW2. Currency fluctuations impact material costs and EBITDA margins
MEDIUM3. Tariff changes in the US (Section 232 and Russian oil tariffs) create variabilit
MEDIUMSector-Specific Signals
Warehouse-led Sales %50%
New Business Awards (Annualized)₹200 Cr0%
Construction Segment Revenue %41.6%+4.6%
Agriculture Segment Revenue %58.4%-9.3%
Key Numbers
PAT Growth YoY
+74%
Inflection Up
Revenue YoY
+35%
Inflection Up
Operating Margin
20.0%
+500 bps YoY
PE Ratio
19.3
Current Price
₹566
Dividend Yield
2.70%
Fundamental Score
49/100
Average
3Y PAT CAGR
-20%
Market Cap
2.6K Cr
Valuation
Overvalued12-Week Performance
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
12 weeks agoThis week
Why Are Uniparts India Ltd's Earnings Accelerating?
Based on Q3 FY26 earnings • Updated Apr 18, 2026
Order Book Or Contract Wins
Expected: Trailing 12 monthsHIGH confidence
What: New Business Pipeline: ₹200 Cr
Impact: 9-10% of 9M growth
“About 9% to 10% of the growth has come from new business... new business award stood at Rs.200 crores”
Geographical Expansion
Expected: Q4 FY26MEDIUM confidence
What: Mexico Warehouse: Operational
“The warehouse was operational in October '25 and we are now waiting for customers to start placing orders”
9M FY26 EBITDA Margin at 21.6%
HIGH confidence
What: 9M FY26 EBITDA Margin at 21.6%
“the last three quarters have demonstrated that operating leverage is now working in our favor with margins expanding meaningfully.”
FY27 Revenue Growth guidance raised
HIGH confidence
What: Not Given → Mid-teens
“we do believe that FY27 should be a mid-teens growth here.”
What Are the Key Risks for Uniparts India Ltd?
Earnings deceleration risks from management commentary
New wage code introduced in November 2025 impacted profitability by ₹3
LOWTrigger: Regulatory change in labor compensation structures.
Impact: PAT impact: ₹3.4 Cr
Management view: Factored into trailing EPS calculations.
Monitor: labor
Currency fluctuations impact material costs and EBITDA margins
MEDIUMTrigger: Rupee depreciation against Dollar/Euro affects inventory valuation and export realizations.
Management view: Pass-through mechanisms in contracts for major movements.
Monitor: fx
Tariff changes in the US (Section 232 and Russian oil tariffs) create variabilit
MEDIUMTrigger: Evolving trade policies between US, India, and China.
Management view: P&L neutral agreements with customers; lower reciprocal tariffs for India (18%) are beneficial.
Monitor: regulatory
What Is Uniparts India Ltd's Management Saying?
Key quotes from recent conference calls
“reinforces our confidence in achieving double-digit growth for FY26. [Previous Revenue Growth guidance]”
“When we normalize for the margin, for the rupee depreciation, we are looking at the range of 18% to 20% margins. [Previous EBITDA Margin guidance]”
“The warehouse was operational in October '25... hopefully, those supplies will start from the next quarter. [Initiative: Mexico Warehouse Operations]”
“This includes the impact of Rs.3.4 crores due to the new wage code introduced in November 2025. [Risk (labor): LOW]”
What Did Uniparts India Ltd Report This Quarter?
Headline numbers from the latest earnings call
Revenue
₹281 Cr
YoY +35%QoQ -0.7%
Why: Growth was driven by a recovery in the small agriculture and construction segments despite Q3 typically being the seasonally weakest quarter.
Revenue remained stable sequentially despite seasonal headwinds, showing strong year-on-year momentum.
EBITDA
₹61 Cr
YoY +65%Margin 21.5%
Why: EBITDA growth was supported by operating leverage and a structural shift toward higher-margin warehouse-led sales, partially offset by new wage code costs.
Margins expanded significantly year-on-year, though they dipped slightly from Q2 due to currency and labor cost impacts.
PAT
₹33 Cr
YoY +74%
Why: Profitability improved due to higher revenue and margin expansion, despite a ₹3.4 crore impact from the new wage code.
PAT growth outpaced revenue growth, reflecting improved operational efficiency.
Other Highlights
• Warehouse-led sales now account for over 50% of revenues in the first nine months of FY26.
• Declared a second interim dividend of ₹7 per share in February 2026.
• Net cash position stood at ₹153 crores as of December 31, 2025.
What Sector Metrics Matter for Uniparts India Ltd?
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Warehouse-led Sales %
50%
Why: Structural shift as customers value agility and near-shoring proximity.
New Business Awards (Annualized)
₹200 Cr
YoY 0%QoQ 0%
Why: Pipeline remains steady at ₹200 Cr over the last 12 months.
Construction Segment Revenue %
41.6%
YoY +4.6%
Why: Strong recovery in construction demand and new business wins in this segment.
Agriculture Segment Revenue %
58.4%
YoY -9.3%
Why: Relative decline as construction segment grows faster, though small ag is recovering.
Net Working Capital Days
144 days
QoQ -11 days
Why: Improved efficiency in inventory and receivables management.
Direct Export Revenue %
25%
YoY 0%QoQ 0%
Why: Channel mix remains stable with direct exports at a quarter of total sales.
Capex as % of Revenue
2.5% - 3%
Why: Management maintains a disciplined investment approach for technology upgrades.
OEM vs Aftermarket Split
80:20
Why: Typical business split remains consistent with OEM dominance.
What Is Uniparts India Ltd's Management Guidance?
Forward-looking targets from management for FY26 - FY27
Revenue Growth Target
15%
OPM Guidance
20%
Revenue Outlook
15% - 16%
Margin Outlook
Sustainable 20% EBITDA margin profile
Capex Plan
2.5% to 3% of revenue
Technology upgradation and capability addition
Management Tone: BULLISH
Guidance Changes
RAISED
FY27 Revenue Growth: Not Given → Mid-teens
How Fast Is Uniparts India Ltd Growing?
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +35% | -8% | Inflection Up |
| PAT (Net Profit) | +74% | -20% | Inflection Up |
| OPM | 20.0% | +500 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Other Top Castings, Forgings & Fastners Stocks Beating Nifty 500
Frequently Asked Questions: Uniparts India Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What were Uniparts India Ltd's latest quarterly results?
Uniparts India Ltd's latest quarterly results (Dec 2025) show
- PAT Growth YoY: +73.7% (turning around (inflection up))
- Revenue Growth YoY: +35.1%
- Operating Margin: 20.0% (volatile)
Is Uniparts India Ltd's profit growing or declining?
Uniparts India Ltd's profit is growing with an turning around (inflection up) trend.
- PAT Growth YoY: +73.7% (latest quarter)
- PAT Growth QoQ: -15.4% (sequential)
- 3-Year PAT CAGR: -19.6%
- Trend: Turning around (inflection up) — consistent growth pattern
What is Uniparts India Ltd's revenue growth trend?
Uniparts India Ltd's revenue growth trend is turning around (inflection up).
- Revenue Growth YoY: +35.1%
- Revenue Growth QoQ: +1.4% (sequential)
- 3-Year Revenue CAGR: -7.7%
How is Uniparts India Ltd's operating margin trending?
Uniparts India Ltd's operating margin is volatile.
- Current OPM: 20.0%
- OPM Change YoY: +5.0% basis points
- OPM Change QoQ: -1.0% basis points
What is Uniparts India Ltd's 3-year profit and revenue CAGR?
Uniparts India Ltd's long-term compounding rates
- 3-Year Profit CAGR: -19.6%
- 3-Year Revenue CAGR: -7.7%
Is Uniparts India Ltd's growth accelerating or decelerating?
Uniparts India Ltd's earnings growth is turning around (inflection up) with weakening on a sequential basis.
- YoY Acceleration: -12.0% bps
- Sequential Acceleration: -30.1% bps
What is Uniparts India Ltd's trailing twelve month (TTM) performance?
Uniparts India Ltd's trailing twelve month (TTM) performance
- TTM PAT: ₹129 Cr
- TTM PAT Growth: +37.2% YoY
- TTM Revenue: ₹1,000 Cr
- TTM Revenue Growth: +8.5% YoY
- TTM Operating Margin: 18.6%
Is Uniparts India Ltd overvalued or undervalued?
Uniparts India Ltd appears overvalued based on our fair value analysis.
- Valuation Signal: Overvalued
- Current PE: 19.3x
- Price-to-Book: 2.8x
What is Uniparts India Ltd's current PE ratio?
Uniparts India Ltd's current PE ratio is 19.3x.
- Current PE: 19.3x
- Market Cap: 2.6K Cr
- Dividend Yield: 2.70%
How does Uniparts India Ltd's valuation compare to its history?
Uniparts India Ltd's current PE is 19.3x.
- Current PE: 19.3x
- Valuation Assessment: Overvalued
What is Uniparts India Ltd's price-to-book ratio?
Uniparts India Ltd's price-to-book ratio is 2.8x.
- Price-to-Book (P/B): 2.8x
- Book Value per Share: ₹203
- Current Price: ₹566
Is Uniparts India Ltd a fundamentally strong company?
Uniparts India Ltd is rated Average with a fundamental score of 49.19/100. This score is calculated from objective financial metrics
- Revenue Growth YoY: +35.1% (10% weight)
- PAT Growth YoY: +73.7% (10% weight)
- PAT Growth QoQ: -15.4% (10% weight)
- Margins stable (10% weight)
Is Uniparts India Ltd debt free?
Uniparts India Ltd has a debt-to-equity ratio of N/A.
- Total Debt: ₹120 Cr
What is Uniparts India Ltd's return on equity (ROE) and ROCE?
Uniparts India Ltd's return ratios over recent years
- FY2023: ROCE 32.0%
- FY2024: ROCE 18.0%
- FY2025: ROCE 12.0%
Is Uniparts India Ltd's cash flow positive?
Uniparts India Ltd's operating cash flow is positive (FY2025).
- Cash from Operations (CFO): ₹182 Cr
- Free Cash Flow (FCF): ₹76 Cr
- CFO/PAT Ratio: 207% (strong cash conversion)
What is Uniparts India Ltd's dividend yield?
Uniparts India Ltd's current dividend yield is 2.70%.
- Dividend Yield: 2.70%
- Current Price: ₹566
Who holds Uniparts India Ltd shares — promoters, FII, DII?
Uniparts India Ltd's shareholding pattern (Mar 2026)
- Promoters: 65.9%
- FII (Foreign): 2.8%
- DII (Domestic): 5.3%
- Public: 25.9%
Is promoter holding increasing or decreasing in Uniparts India Ltd?
Uniparts India Ltd's promoter holding has decreased recently.
- Current Promoter Holding: 65.9% (Mar 2026)
- Previous Quarter: 65.9% (Dec 2025)
- Change: -0.02% (decreasing — worth monitoring)
How long has Uniparts India Ltd been outperforming Nifty 500?
Uniparts India Ltd has been outperforming Nifty 500 for 7 consecutive weeks, indicating building momentum.
Is Uniparts India Ltd a new momentum entry or an established outperformer?
Uniparts India Ltd is an established outperformer with 7 weeks of consecutive Nifty 500 outperformance.
What are the growth catalysts for Uniparts India Ltd?
Uniparts India Ltd has 5 key growth catalysts identified from recent earnings analysis
- Operating Leverage Inflection — Fixed cost absorption as volumes recover in construction and small ag.
- Order Book Or Contract Wins — New wins across geographies (US, Europe, India) are productionizing.
- Geographical Expansion — Strategic near-shoring to serve major US OEMs.
- 9M FY26 EBITDA Margin at 21.6% — Operating leverage and a higher mix of warehouse-led sales drove margins above the long-term 20% target.
What are the key risks in Uniparts India Ltd?
Uniparts India Ltd has 3 key risks worth monitoring
- [LOW] New wage code introduced in November 2025 impacted profitability by ₹3 — Regulatory change in labor compensation structures.
- [MEDIUM] Currency fluctuations impact material costs and EBITDA margins — Rupee depreciation against Dollar/Euro affects inventory valuation and export realizations.
- [MEDIUM] Tariff changes in the US (Section 232 and Russian oil tariffs) create variabilit — Evolving trade policies between US, India, and China.
What did Uniparts India Ltd's management say in the latest earnings call?
In Q3 FY26, Uniparts India Ltd's management highlighted
- "reinforces our confidence in achieving double-digit growth for FY26. [Previous Revenue Growth guidance]"
- "When we normalize for the margin, for the rupee depreciation, we are looking at the range of 18% to 20% margins. [Previous EBITDA Margin guidance]"
- "The warehouse was operational in October '25... hopefully, those supplies will start from the next quarter. [Initiative: Mexico Warehouse Operations]"
What is Uniparts India Ltd's management guidance for growth?
Uniparts India Ltd's management has provided the following forward guidance for FY26 - FY27
- Revenue growth target: 15%
- OPM guidance: 20%
- Capex plan: 2.5% to 3% of revenue for Technology upgradation and capability addition
- Management tone: bullish
- Milestone: [RAISED] FY27 Revenue Growth: Not Given → Mid-teens
What sector-specific metrics matter most for Uniparts India Ltd?
Uniparts India Ltd's most important sub-sector-specific KPIs from the latest concall
- Warehouse-led Sales %: 50% — Structural shift as customers value agility and near-shoring proximity.
- New Business Awards (Annualized): ₹200 Cr (YoY 0%) (QoQ 0%) — Pipeline remains steady at ₹200 Cr over the last 12 months.
- Construction Segment Revenue %: 41.6% (YoY +4.6%) — Strong recovery in construction demand and new business wins in this segment.
- Agriculture Segment Revenue %: 58.4% (YoY -9.3%) — Relative decline as construction segment grows faster, though small ag is recovering.
- Net Working Capital Days: 144 days (QoQ -11 days) — Improved efficiency in inventory and receivables management.
- Direct Export Revenue %: 25% (YoY 0%) (QoQ 0%) — Channel mix remains stable with direct exports at a quarter of total sales.
Is Uniparts India Ltd worth studying for long term investment?
Based on quantitative research signals, here is why Uniparts India Ltd may be worth studying
- Earnings growing at +73.7% YoY
- Cash flow is positive — CFO ₹182 Cr
What is the investment thesis for Uniparts India Ltd?
Uniparts India Ltd investment thesis summary:
Research Signals (Bull Case)
- Revenue growing at +35.1% YoY
- Growth catalyst: Operating Leverage Inflection
Risk Factors (Bear Case)
- Appears overvalued
- Key risk: New wage code introduced in November 2025 impacted profitability by ₹3
What is the future outlook for Uniparts India Ltd?
Uniparts India Ltd's forward outlook based on current data signals
- Earnings Trend: turning around (inflection up)
- Revenue Trend: turning around (inflection up)
- Margin Trend: volatile
- Valuation: Overvalued
- Key Catalyst: Operating Leverage Inflection
- Key Risk: New wage code introduced in November 2025 impacted profitability by ₹3
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.