Talbros Automotive Components Limited, a manufacturer of automotive and industrial components, has secured multi-year orders worth approximately INR 14.75 billion in the first nine months of FY25, in addition to INR 9.8 billion in orders in FY24. These orders, spanning gaskets, heat shields, forgings, chassis, and rubber hoses, will be executed over five to eight years.
Orders include INR 10 billion from overseas customers through its joint venture Marelli Talbros Chassis Systems, and INR 4.75 billion from both domestic and overseas clients. Among these are electric vehicle (EV) contracts worth INR 750 million and export orders valued at INR 1.45 billion.
The company plans to invest an estimated INR 2 billion in capital expenditure by FY27 to expand capacities across its core operations and joint ventures. This includes INR 600 million in the forgings division, INR 800 million in Marelli Talbros Chassis Systems, INR 500 million in the gasket and heat shield segment, and INR 100 million in Talbros Marugo Rubber. These investments will be funded through internal accruals and, where required, by borrowings.
By FY27, Talbros aims to grow gasket revenue to INR 7 billion at a CAGR of 13 percent. The forgings segment is projected to reach INR 5 billion, representing a CAGR of 23 percent, with a focus on expanding exports and EV-related business. The company forecasts its EBITDA margin to increase to 16–18 percent and return on capital employed to exceed 20 percent.
Talbros projects export sales to rise from 25 percent in FY23 to over 35 percent by FY27, supported by growing international orders across product segments and joint ventures. The company plans to maintain its total debt under INR 1 billion, aiming to sustain a conservative capital structure.
In the gasket segment, Talbros reported an estimated 50 percent market share. The company serves as a single-source supplier for five customers and has active contracts across two-wheeler, agricultural, heavy commercial, and light commercial vehicle segments. It has signed an exclusive agreement with SANWA for lightweight aluminium heat shields used in passenger vehicles, which are also applicable to hybrid and electric vehicles.
In the forgings division, Talbros operates hot forging presses ranging from 750 to 2,500 tonnes and provides integrated services including die design, part machining, and heat treatment. The company has a presence in overseas markets and supplies top-tier automotive component manufacturers. Current product lines include heavier forged parts, with notable annual orders from JCB UK for dump and eye ends worth INR 750 million, and from Dana Italy for ring gears valued at INR 170 million.
As of FY25, revenue from heat shields was INR 516.2 million, and revenue from EV-related supply stood at INR 5.9 million in the gasket business and INR 224.7 million in the forgings division. The company also holds exclusive contracts for lightweight aluminium heat shields and supplies critical components to OEMs such as MSIL, Kia, Hyundai, Cummins, and Escorts Kubota.
Utilisation rates for FY25 across business segments stood at 85 percent for gaskets and heat shields, 80 percent for forgings, 74 percent for chassis systems, and between 82–90 percent for anti-vibration and hose products.
Talbros Automotive Components Limited, established in 1956, manufactures automotive and industrial components including gaskets, chassis systems, rubber products, and forgings. The company operates 11 manufacturing facilities and a technology center in India, with joint ventures and technical collaborations with partners in Japan and Italy. Its clients include several domestic and international automotive OEMs.