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Studds Accessories Limited, India’s largest two-wheeler helmet manufacturer and one of the world’s leading helmet and motorcycle accessories brands, has declared its unaudited Financial Results for the Quarter and half year ended 30th September 2025.
Q2 & H1FY26 Financial Highlights
Particulars (Rs. Cr) | Q2FY26 | Q2FY25 | YoY | H1FY26 | H1FY25 | YoY | FY25 |
Revenue From Operations | 154.4 | 145.0 | 6.5% | 303.7 | 285.3 | 6.4% | 584.0 |
Total Income | 157.3 | 147.9 | 6.3% | 309.3 | 290.4 | 6.5% | 595.9 |
EBITDA | 29.9 | 26.7 | 12.0% | 60.2 | 51.0 | 17.9% | 105.0 |
EBITDA Margin | 19.3% | 18.4% |
| 19.8% | 17.9% |
| 18.0% |
Profit After Tax | 20.6 | 17.5 | 17.9% | 40.9 | 33.2 | 22.9% | 69.6 |
Profit After Tax Margin | 13.4% | 12.1% |
| 13.5% | 11.7% |
| 11.9% |
Key Highlights
- Expanding Capacity for two-wheeler helmets and boxes by 1.5 Mn units in the first phase, expected to become operational by Q1FY27
- Onboarded Decathlon as a new customer to serve its India requirements for bicycle helmets and allied products
- The Board has approved the setting up of a new warehouse in Spain to strengthen European distribution, improve service levels, and support product portfolio expansion
- Capacity utilisation for 2W helmet and boxes, EPS and Water Decals stood at ~86%, ~84%, ~64% respectively in H1FY26
- Set up an IT office in Gurugram to strengthen capabilities and advance technology-led initiatives
Commenting on the results and performance for Q2 & H1FY26, Mr Sidhartha Bhushan Khurana, Managing Director, “Our successful listing on 7th November 2025 represents a significant milestone in our five-decade journey. It marks our transition into a new phase of growth and reflects the strong confidence placed in our business, governance framework, and long-term strategy.
In H1FY26, we delivered steady and improving financial performance. Revenue increased by 6.4% YoY to ₹303.7 crore, while operating EBITDA grew by 17.9% YoY to ₹60.2 crore, driven by superior product mix, operating leverage, higher efficiency, and disciplined cost management. These results underscore the inherent scalability and resilience of our business model.
Demand across our core categories remained healthy, as reflected in the capacity utilization of ~86% for two-wheeler helmets and boxes during H1FY26. To support sustained growth, we are progressing with capacity expansion, with the first phase of additional capacity of 1.5 Mn units expected to become operational by Q1FY27. This expansion will enhance our ability to service both domestic and export markets while providing headroom for future growth initiatives.
In October, we entered into a strategic customer engagement with Decathlon, adding a marquee global brand to our customer portfolio. Under this engagement, we will serve Decathlon’s India requirements for bicycle helmets and allied protective products. We are currently investing in new moulds, with commercial production expected to commence by the end of Q4FY26.
In parallel, to enhance our international footprint and brand visibility, we are in process of establishing a new warehouse in Spain. This initiative is expected to strengthen our European distribution capabilities, improve service levels and delivery timelines, enable deeper market penetration, and support the introduction of additional product lines across export markets. As we move forward, our priorities remain clear:
- Strengthening our market leadership in the domestic market
- Expanding our global footprint
- Investing in capacities and capabilities
- Maintaining a sharp focus on returns and cash flows
We remain committed to building Studds into a stronger, more diversified global safety brand.”