Studds Accessories Limited — Earnings Release 2025

Nov 26, 2025

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REGD. AND CORP. OFF.: PLOT NO. 918, SECTOR-68 IMT FARIDABAD-121004, HARYANA (INDIA) PHONE: 91-129-4296500 E mail: secretarial@studds.com ; info@studds.com CIN No.: U25208HR1983PLC015135

Date: November 27 , 2025

To, To, National Stock Exchange of India Ltd., BSE Limited Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Dalal Street Bandra (E), Mumbai – 400 051 Mumbai- 400001 NSE Scrip Symbol: STUDDS BSE Scrip Code: 544599

Subject: Press Release

Dear Sir/ Ma’am,

Please find enclosed herewith press release for the unaudited standalone and consolidated financial results of Q2 & H1FY26 pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the "SEBI Listing Regulations")

The above details will also be available on the website of the Company at www.studds.com under Investor Relations’ Section.

This is submitted for your information & records.

Thanking You,

FOR STUDDS ACCESSORIES LIMITED

ASHA Digitally signed by ASHA MITTAL Date: 2025.11.27 MITTAL 00:13:11 +05'30'

ASHA MITTAL Company Secretary and Compliance Officer

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www.studds.com

Investor Release

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Studds Accessories Limited

Q2 & H1FY26 Consolidated Performance

Faridabad, Haryana: 27[th] November’25

Studd 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 30[th] September 2025.

Q2 & H1FY26 Financial Highlights

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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%
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Key Highlights

• expected to become opera�onal by Q1FY27

• Onboarded Decathlon as a new customer to serve its India requirements for bicycle helmets and allied products

• The Board has approved the se�ng up of a new warehouse in Spain to strengthen European distribu�on, improve service levels, and support product por�olio expansion

• Capacity u�lisa�on for 2W helmet and boxes, EPS and Water Decals stood at ~86%, ~84%, ~64% respec�vely in H1FY26

• ini�a�ves

Investor Release

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Commen�ng on the results and performance for Q2 & H1FY26, Mr Sidhartha Bhushan Khurana , Managing Director

“Our successful lis�ng on 7[th] November 2025 represents a significant milestone in our five-decade journey. It marks our transi�on into a new phase of growth and reflects the strong confidence placed in our business, governance framework, and long-term strategy.

to ₹303.7 crore, while opera�ng EBITDA grew by 17.9% YoY to ₹60.2 crore, driven by superior product mix, opera�ng leverage, higher efficiency, and disciplined cost management. These results underscore the inherent scalability and resilience of our business model.

for two-wheeler helmets and boxes during H1FY26. To support sustained growth, we are progressing with capacity expansion, with the first phase of addi�onal capacity of 1.5 Mn units expected to become opera�onal by Q1FY27. This expansion will enhance our ability to service both domes�c and export markets while providing headroom for future growth ini�a�ves.

In October, we entered into a strategic customer engagement with Decathlon, adding a marquee global brand to our customer por�olio. Under this engagement, we will serve Decathlon’s India requirements for bicycle helmets and allied protec�ve products. We are currently inves�ng in new moulds, with commercial produc�on expected to commence by the end of Q4FY26.

In parallel, to enhance our interna�onal footprint and brand visibility, we are in process of establishing a new warehouse in Spain. This ini�a�ve is expected to strengthen our European distribu�on capabili�es, improve service levels and delivery �melines, enable deeper market penetra�on, and support the introduc�on of addi�onal product lines across export markets.

As we move forward, our priori�es remain clear:

• Strengthening our market leadership in the domes�c market

• Expanding our global footprint

• Inves�ng in capaci�es and capabili�es

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Investor Release

About Studds Accessories Limited

Studds Accessories Limited is India’s largest two-wheeler helmet manufacturer and one of the world’s leading helmet and motorcycle accessories brands. With an installed capacity of 9.04 million twowheeler helmets and boxes across four advanced, ver�cally integrated manufacturing units, the company delivers scale, quality, and reliability at global standards.

design and development team focused on innova�on, comfort, and world-class styling. Its extensive network of 360+ ac�ve distributors ensures reach across India, while the brand also serves customers in 70+ interna�onal markets.

through con�nuous product innova�on and technology-driven excellence.

Safe Harbor Statement

Statements in this document rela�ng to future status, events, or circumstances, including but not limited to statements about plans and objec�ves, the progress and results of research and development, poten�al project characteris�cs, project poten�al and target dates for project related issues are forward-looking statements based on es�mates and the an�cipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertain�es and are not necessarily predic�ve of future results. Actual results may differ materially from those an�cipated in the forward-looking statements. The company assumes no obliga�on to update forward-looking statements to reflect actual results changed assump�ons or other factors.

For further information, please contact

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Company Investor Relations Advisors
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Company Investor Relations Advisors	Company Investor Relations Advisors	Company Investor Relations Advisors	Company Investor Relations Advisors
	Studds Accessories Ltd. CIN No: U25208HR1983PLC015135 Name: Mr. Bharat Goyal VP - Finance and Investor Relations bharat.goyal@studds.com www.studds.com		Strategic Growth Advisors Pvt. Ltd. CIN No: U74140MH2010PTC204285 Mr. Mandar Chavan / Ms. Khushi Bhandari mandar.chavan@sgapl.net / khushi.bhandari@sgapl.net Tel No: +91 96993 82195 / +91 76666 89925 www.sgapl.net