Studds Accessories Ltd
Incorporated in 1975,Studds Accessories Limited is a manufacturer of two-wheeler helmets and motorcycle accessories.[1]
- Market Cap ₹ 2,000 Cr.
- Current Price ₹ 508
- High / Low ₹ 600 / 473
- Stock P/E 27.0
- Book Value ₹ 122
- Dividend Yield 0.00 %
- ROCE 22.6 %
- ROE 16.7 %
- Face Value ₹ 5.00
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 17.2%
Cons
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments
Part of BSE IPO
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 480 | 463 | 499 | 529 | 584 | |
| 369 | 408 | 439 | 438 | 479 | |
| Operating Profit | 111 | 54 | 60 | 91 | 105 |
| OPM % | 23% | 12% | 12% | 17% | 18% |
| 5 | 5 | 7 | 6 | 12 | |
| Interest | 4 | 3 | 3 | 2 | 1 |
| Depreciation | 13 | 17 | 18 | 19 | 21 |
| Profit before tax | 98 | 40 | 46 | 76 | 95 |
| Tax % | 25% | 28% | 29% | 25% | 27% |
| 74 | 29 | 33 | 57 | 70 | |
| EPS in Rs | 37.60 | 14.56 | 16.85 | 29.09 | 17.70 |
| Dividend Payout % | 11% | 21% | 24% | 14% | 14% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 8% |
| TTM: | 10% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 35% |
| TTM: | 21% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 16% |
| 3 Years: | 15% |
| Last Year: | 17% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 20 | 20 |
| Reserves | 280 | 301 | 328 | 378 | 430 | 461 |
| 28 | 46 | 32 | 9 | 9 | 9 | |
| 117 | 98 | 91 | 89 | 98 | 141 | |
| Total Liabilities | 435 | 455 | 461 | 486 | 557 | 631 |
| 266 | 310 | 311 | 331 | 338 | 339 | |
| CWIP | 10 | 13 | 12 | 12 | 29 | 46 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 159 | 133 | 138 | 142 | 189 | 246 | |
| Total Assets | 435 | 455 | 461 | 486 | 557 | 631 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 74 | 12 | 28 | 96 | 63 | |
| -34 | -40 | 1 | -54 | -51 | |
| -17 | 3 | -23 | -32 | -9 | |
| Net Cash Flow | 22 | -25 | 6 | 11 | 3 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 20 | 22 | 23 | 20 | 27 |
| Inventory Days | 48 | 62 | 49 | 62 | 80 |
| Days Payable | 103 | 73 | 48 | 47 | 46 |
| Cash Conversion Cycle | -35 | 11 | 23 | 34 | 62 |
| Working Capital Days | -24 | -5 | -1 | 9 | 25 |
| ROCE % | 13% | 14% | 21% | 23% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
1d - Q3 revenue INR163 Cr, volume 2.24m, EBITDA INR30.7 Cr; INR155 Cr capex; Spain subsidiary Q1 FY27.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 2 Feb
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
2 Feb - Audio recording (Feb 02, 2026) of earnings call for quarter and nine months ended Dec 31, 2025 posted online.
- Announcement under Regulation 30 (LODR)-Investor Presentation 1 Feb
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
1 Feb - Q3 revenue Rs163.0cr; 9MFY26 Rs466.7cr; PAT Q3 Rs20.7cr; expansion deferred.
Concalls
-
Feb 2026Transcript PPT
-
Dec 2025Transcript PPT REC
Market Leadership[1]
Studds Accessories Limited is the largest two-wheeler helmet manufacturer in India by revenue and the world’s largest by volume. It designs, manufactures, and sells helmets and related accessories under its mass-market brand Studds and premium brand SMK, selling ~7.4 million helmets in FY25.