Triton Valves financials

Bengaluru-based auto-ancillary maker describing itself as India's largest tyre-valve manufacturer, spanning tyre/tube/EV/TPMS valves, brass-rod metals, and climate-control valves verticals.

Market cap: ₹576 Cr
Sector: Automobile and Auto Components
Calls analysed: 5

Latest concall · Q1 FY27 · call held 21 Aug 2026

Triton Valves Q1 FY27

Reported PAT ₹9.75 cr ROCE 12.5%

What went well

Group console sales up ~38.5% YoY and ~17.5% QoQ to 186.5 crores, driven by automotive and metals segments.
Reported PAT at 9.75 crores, significantly boosted by a 4.75 crore tax credit from the Climatech merger.
Group console EBITDA increased from 8.8 crores to 12.4 crores YoY, with absolute operating profit growing despite commodity price volatility.

What to watch

Gross contributions declined by 145 bps sequentially and 181 bps YoY, attributed to commodity price pass-through, which optically erodes percentage margins.
The Climate Control segment experienced sequential degrowth and management remains 'circumspect' about its near-term performance due to high copper prices, unfavorable seasonality, and Chinese dumping.

Read the full call →

What Triton Valves does

Triton Valves Limited is an auto-ancillary manufacturer headquartered in Bengaluru that commenced commercial production in 1975 and describes itself as India's largest tyre-valve manufacturer. Its Automotive vertical makes tyre & tube valves, tubeless valves, EV valves, TPMS valves and valve cores sold to OEMs, the aftermarket (B2B2C) and export customers. Its Metals vertical produces brass rods, coils and special alloys (including hollow rods) that serve as backward-integrated raw material for the Automotive business and are also sold to external customers. A Climate Controls vertical, presently organised under Tritonvalves Climatech Private Limited and expected to merge into Triton Valves by June 2026, makes service valves, charging valves, ball valves and related parts & accessories for climate-control systems.

Segments

Automotive Vertical
Metals Vertical
Climate Controls Vertical

Business verticals: 3 (Automotive, Metals, Climate Controls)
Vehicle OE valves sold: 695 lakh pieces (FY26)
Tyre & Tube valves sold: 631 lakh pieces (FY26)
EV valves sold: 16 lakh pieces (FY26)
Group entities: Triton Valves Ltd (holding), Tritonvalves Future Tech Pvt Ltd (Metals), Tritonvalves Climatech Pvt Ltd (Climate Controls), Triton Valves Hong Kong Ltd (SPV, now inactive)
Business segments post-merger: 2 (Automotive, Climate Control) once Climatech merger completes

Founded 1975Headquarters Bengaluru, Karnataka Company website

Guidance record · Q1 FY27

what the last two calls moved 18 tracked 4 delivered 3 missed 11 open

FY25 Sales delivered said Q3 FY25 Promised: Close to ₹500 crores (within 5%) Q1 FY27: No new information on this achieved target.
Metals Capacity Expansion went quiet said Q3 FY25 Promised: Expand from 8,500 MT to 12,000 MT in 1st phase Q1 FY27: The specific 12,000 MT target was not mentioned. Discussion shifted to capex for value-added products and special alloys within the metals segment.
Long-term Revenue on track said Q3 FY25 Promised: ₹1,000 crores in sales within 3-4 years Q1 FY27: Reiterated confidence in hitting the target, stating 'we have a plan for hitting thousand crores whether climatech picks up or not.'

All 18 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 38.5%, net profit up 535.7% against the same quarter last year.

₹ Cr · quarterly

Line item	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26	Q4 FY26	Q1 FY27
Revenue	118	122	142	135	132 +11%	153 +26%	159 +12%	187 +38%
Expenses	110	114	134	126	123	141	148	174
EBITDA	9	7	8	8	9 +3%	11 +52%	12 +43%	12 +44%
Margin	7%	6%	6%	6%	7%	7%	7%	7%
Other income	0	1	0	0	0	-1	-0	0
Interest	3	3	4	3	3	3	3	3
Depreciation	3	3	3	3	3	3	3	3
Profit before tax	3	2	1	2	3 +10%	4 +104%	5 +335%	6 +163%
Tax rate	28%	39%	56%	34%	36%	27%	24%	-59%
Net profit	2	1	0	2	2 −1%	3 +147%	4 +635%	10 +536%
EPS	4.17	2.23	1.02	3.21	4.04	5.18	7.03	19.11

How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −58.8% 1Y

1Y: ₹2,693.85 on 10 Sept 2025 → ₹1,109. High ₹3,613.3 (19 Sept 2025), low ₹802.05 (23 Apr 2026).

How the price took the results

close before → close after

Q1 FY27: −0.9%; 21 Aug
Q4 FY26: +1.9%; 29 May
Q3 FY26: +1.7%; 20 Feb
Q2 FY26: −2.1%; 14 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 16.9% a year over 3 years, FY23 to FY26. Operating margin widened to 7.0%.

Year ending	FY23	FY24	FY25	FY26
Revenue	₹362 Cr	₹428 Cr	₹488 Cr	₹578 Cr
Operating profit	₹14 Cr	₹31 Cr	₹31 Cr	₹40 Cr
Operating margin	3.9%	7.2%	6.4%	7.0%
Interest	₹12 Cr	₹13 Cr	₹13 Cr	₹13 Cr
Depreciation	₹13 Cr	₹13 Cr	₹12 Cr	₹12 Cr
Net profit	₹-9 Cr	₹3 Cr	₹5 Cr	₹10 Cr
Net margin	-2.4%	0.7%	1.0%	1.7%
Cash from operations	₹16 Cr	₹25 Cr	₹-13 Cr	₹18 Cr
Free cash flow	₹3 Cr	₹21 Cr	₹-29 Cr	₹4 Cr
ROCE	1.0%	9.0%	9.0%	11.0%

How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year ending	FY21	FY22	FY23	FY24	FY25	FY26
Equity capital	₹1 Cr	₹1 Cr	₹1 Cr	₹1 Cr	₹1 Cr	₹1 Cr
Reserves	₹85 Cr	₹80 Cr	₹70 Cr	₹102 Cr	₹121 Cr	₹127 Cr
Borrowings	₹98 Cr	₹122 Cr	₹131 Cr	₹120 Cr	₹133 Cr	₹132 Cr
Other liabilities	₹32 Cr	₹30 Cr	₹39 Cr	₹41 Cr	₹62 Cr	₹65 Cr
Total liabilities	₹215 Cr	₹233 Cr	₹242 Cr	₹264 Cr	₹318 Cr	₹325 Cr
Fixed assets	₹89 Cr	₹90 Cr	₹94 Cr	₹83 Cr	₹83 Cr	₹84 Cr
Capital work in progress	₹5 Cr	₹4 Cr	₹1 Cr	₹2 Cr	₹6 Cr	₹6 Cr
Investments	₹1 Cr	₹1 Cr	₹1 Cr	₹1 Cr	₹3 Cr	₹1 Cr
Other assets	₹120 Cr	₹138 Cr	₹146 Cr	₹177 Cr	₹226 Cr	₹233 Cr
Total assets	₹215 Cr	₹233 Cr	₹242 Cr	₹264 Cr	₹318 Cr	₹325 Cr

How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs trimmed −0.56 pp while promoters added +0.42 pp. The shareholder count grew 8% to 6,608.

Promoters: 46.1%
Public: 53.9%

Since Jun 2025

DIIs −0.56 pp
Promoters +0.42 pp
Public +0.13 pp

How it drifted, 12 quarters

Over this window promoters fell from 52.9% to 46.1% — −6.7 pp.

Sep '23Dec '24Jun '26

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

Ajay Shridharmurthy Nagarkatte newly disclosed 4.47% held
Anuradha Nagarkatte Brocks newly disclosed 4.46% held
Vibha Prashant Bamb newly disclosed 1.11% held

The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Triton Valves above SEBI's 1% disclosure line, and what changed since Mar 2026.

Holder	Stake	Change
Maruti Anuradha Gokarn	25.77%	unchanged
Aditya Maruti Gokarn	6.78%	unchanged
Hemant Jagdish Ashar	5.48%	unchanged
Ajay Shridharmurthy Nagarkatte	4.47%	newly disclosed
Anuradha Nagarkatte Brocks	4.46%	newly disclosed
Mysore Hemalatha	4.03%	−0.19 pp
Anil Maruti Gokarn	3.69%	unchanged
Anil Bhavanji Shah	1.56%	unchanged
Penang Enterprises Private Limited	1.23%	unchanged
Vibha Prashant Bamb	1.11%	newly disclosed
Pradeep P Koppikar	0.93%	unchanged
Nagarkatte Shridharmurthy Nirmala	—	off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (5)

Read the Q1 FY27 call →

Learn to analyse Triton Valves

Guides on how to read this kind of business and the numbers that matter.