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PPAP Automotive Limited
(PPAP)
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Rating:62Neutral
Price Target:
₹279.00
▼(-2.75% Downside)
Action:Reiterated
Date:07/15/26
The score is held back primarily by weaker cash flow (negative free cash flow in 2026) and rising leverage, despite improving profitability. Technicals are a key support due to a strong uptrend, though overbought indicators add near-term risk. Valuation is moderately attractive on P/E, but the low dividend yield provides limited downside cushion.
Positive Factors
Sustained Revenue Expansion
Multi-year revenue expansion indicates PPAP has increased its business scale and maintained demand for its components. Although recent growth moderated, the broader trajectory supports continued participation in vehicle production programs and a larger operating base.
Negative Factors
Rising Financial Leverage
Borrowing has expanded faster than equity, increasing balance-sheet risk while the profit base is still recovering. Higher leverage can constrain financial flexibility and amplify pressure on earnings if vehicle volumes or operating performance weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Expansion
Multi-year revenue expansion indicates PPAP has increased its business scale and maintained demand for its components. Although recent growth moderated, the broader trajectory supports continued participation in vehicle production programs and a larger operating base.
Read all positive factors
PPAP Automotive Limited (PPAP) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.74B
Dividend Yield0.94%
Average Volume (3M)1.93K
Price to Earnings (P/E)8.0
Beta (1Y)1.12
Revenue Growth10.74%
EPS Growth899.82%
CountryIN
Employees1,260
SectorGeneral
Sector StrengthN/A
IndustryAuto - Parts
Share Statistics
EPS (TTM)32.83
Shares Outstanding14,152,987
10 Day Avg. Volume5,023
30 Day Avg. Volume1,930
Financial Highlights & Ratios
PEG Ratio0.01
Price to Book (P/B)0.73
Price to Sales (P/S)0.44
P/FCF Ratio-7.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)42.83
Revenue Forecast (FY)₹9.75B
PPAP Automotive Limited Business Overview & Revenue Model
Company Description
Based in Noida, India, PPAP Automotive Limited is a manufacturing firm dedicated to the production and supply of a wide array of components for the automotive sector. The company's core business involves fabricating sealing systems alongside vario...
How the Company Makes Money
PPAP primarily makes money by manufacturing and selling automotive components to vehicle OEMs (and, where applicable, their tiered supplier ecosystems) under supply contracts linked to vehicle production programs. Its main revenue streams come fro...
PPAP Automotive Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
60
Neutral
Cash Flow
42
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.07B | 5.67B | 5.54B | 5.21B | 5.11B | 4.22B |
| Gross Profit | 1.43B | 997.52M | 2.37B | 1.87B | 1.78B | 1.47B |
| EBITDA | 548.33M | 1.03B | 571.73M | 407.63M | 377.40M | 360.41M |
| Net Income | 463.31M | 431.94M | 69.97M | -130.39M | -59.44M | -7.88M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 7.41B | 5.68B | 5.55B | 5.48B | 5.00B |
| Cash, Cash Equivalents and Short-Term Investments | 952.59M | 952.59M | 64.31M | 114.36M | 62.82M | 43.97M |
| Total Debt | 0.00 | 2.07B | 1.75B | 1.61B | 1.52B | 1.10B |
| Total Liabilities | -3.41B | 4.00B | 2.80B | 2.72B | 2.53B | 1.96B |
| Stockholders Equity | 3.41B | 3.41B | 2.88B | 2.83B | 2.95B | 3.04B |
Cash Flow | ||||||
| Free Cash Flow | 44.77M | -323.62M | 153.15M | 96.79M | -250.94M | -493.27M |
| Operating Cash Flow | 231.59M | 179.14M | 521.87M | 405.81M | 300.11M | 205.27M |
| Investing Cash Flow | -189.72M | -446.46M | -353.99M | -299.94M | -577.39M | -709.04M |
| Financing Cash Flow | -12.41M | 278.36M | -172.43M | -94.85M | 281.14M | 494.69M |
PPAP Automotive Limited Technical Analysis
Neutral
286.90
Price Trends
279.71
Negative
245.64
Positive
231.20
Positive
Market Momentum
-4.25
Positive
41.23
Neutral
9.37
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PPAP, the sentiment is Neutral. The current price of 286.9 is below the 20-day moving average (MA) of 286.97, above the 50-day MA of 279.71, and above the 200-day MA of 231.20, indicating a neutral trend. The MACD of -4.25 indicates Positive momentum. The RSI at 41.23 is Neutral, neither overbought nor oversold. The STOCH value of 9.37 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:PPAP.
PPAP Automotive Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | ₹3.74B | 7.97 | ― | 0.87% | 10.74% | 899.82% | |
62 Neutral | ₹4.15B | 9.86 | ― | 2.76% | 31.75% | 55.55% | |
60 Neutral | ₹2.88B | 16.38 | ― | 0.25% | 22.29% | 13.00% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹2.99B | -1.48 | ― | ― | -5.88% | -656.47% | |
50 Neutral | ₹3.11B | 85.40 | ― | 0.22% | -4.69% | 13.74% | |
47 Neutral | ₹2.41B | -1.80 | ― | 69.67% | 13.57% | -18.42% |
* General Sector Average
IN:PPAP
PPAP Automotive Limited
267.00
43.71
19.58%
IN:ELGIRUBCO
Elgi Rubber Company Limited
58.39
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-18.19%
IN:OMAXAUTO
Omax Autos Limited
186.40
39.79
27.14%
IN:REMSONSIND
Remsons Industries Limited
80.85
-35.66
-30.61%
IN:SETCO
Setco Automotive Limited
17.26
8.40
94.79%
IN:SUNDRMBRAK
Sundaram Brake Linings Limited
772.10
-9.72
-1.24%
PPAP Automotive Limited Corporate Events
PPAP Automotive Reshapes Board Committees, Adds Independent Director
Jun 25, 2026
PPAP Automotive Limited has reconfigured its board structure, appointing Meeta Makhan as an additional independent director effective 25 June 2026, subject to shareholder approval for a two-year term. The appointment is based on the nomination and...
PPAP Automotive Ties Up With Hutchinson for Advanced Body Sealing Systems in India
Jun 10, 2026
PPAP Automotive Limited has entered a technology partnership with Hutchinson, a global specialist in high-performance multi-material solutions, to manufacture advanced body sealing systems for India’s passenger vehicle market. The arrangemen...
PPAP Automotive Ties Up With Hutchinson for Advanced Body Sealing Systems in India
Jun 10, 2026
PPAP Automotive Limited has entered into a partnership with Hutchinson, a global specialist in automotive sealing solutions, to manufacture advanced body sealing systems for India’s passenger vehicle market. Under the agreement, effective 1 ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.