Studds Accessories targets 17-18% revenue growth in FY27
The helmet maker plans to scale capacity to 12 million units as its premium SMK brand delivers margins 10 percentage points above the core business.
— 1 earlier story on Studds Accessories Ltd. →What's new
- Studds targets 17-18% revenue growth in FY27 with stable EBITDA margins.
- Premium brand SMK now delivers 27% EBITDA margins, outperforming the core brand by 10 percentage points.
- Capacity expansion to 12 million units is set for completion over 15-18 months.
Why this matters
The shift toward the higher-margin SMK brand is the primary lever for profitability. Expanding into non-motorised helmets via Decathlon and establishing an Italian warehouse shows a clear push to de-risk through export diversification.
What we're watching
- The July 2026 start date for Decathlon supplies.
- Operational progress at the new Italian warehouse in mid-Q2 FY27.
- Whether the 17-18% growth target holds as capacity ramps up.
The full read
Studds Accessories closed FY26 with ₹634 crore in revenue and ₹82.7 crore in net profit. Management is now looking ahead, guiding for 17-18% revenue growth in FY27 while maintaining stable EBITDA margins. The core of the strategy is the premium SMK brand, which has grown at a 52% CAGR and now commands 27% EBITDA margins—a 10 percentage point premium over the core Studds label. To support this, the company is scaling capacity to 12 million units over the next 15-18 months. International expansion is also a priority, with exports targeted to hit 23-24% of revenue. A new Italian warehouse is set to open in mid-Q2 FY27, and the company expects to begin supplying non-motorised helmets to Decathlon in July 2026. The shift toward higher-margin premium products and new export channels is the clear path forward.
Questions answered
- How does the SMK brand compare to the core Studds business?
- SMK is the company's premium offering, growing at a 52% CAGR. It currently generates 27% EBITDA margins, which is 10 percentage points higher than the core Studds brand.
- What is the company's plan for international growth?
- Studds expects exports to reach 23-24% of total revenue. It is opening a new warehouse subsidiary in Italy in mid-Q2 FY27 to support this expansion.
- When will the partnership with Decathlon begin?
- The company expects to start supplying non-motorised helmets to Decathlon in July 2026.
- What is the status of the company's manufacturing capacity?
- Studds is expanding its capacity to 12 million units. This project is expected to be completed over the next 15-18 months.
Story so far
All notes on STUDDS →- 25 May 2026 · 4:46 PM IST Studds Accessories targets 17-18% revenue growth in FY27
- 1d ago Studds Accessories targets 18% growth as it expands into Europe