Overview

• Shares fell 6% to ₹1,310.45 on Tuesday after the mid-quarter update flagged business environment uncertainties
• The company still maintains a strong project pipeline with early wins in trucks and off-highway segments, but conversion rates have slowed
• European operations are gaining traction as markets in the USA and Asia face ongoing instability
• Management forecasts no one-time gains in Q1 FY26 and projects deficits in other income due to volatile forex movements
• The board approved the acquisition of Caresoft’s Global Engineering Solutions Business, expected to close by the end of Q1 FY26