• Export and revenue growth: Q4 export share rose to 23% amid broad-based global demand, and overall FY27 revenue is projected to grow in the high teens supported by over 30% growth in the SMK brand.
• Margin trajectory: Management expects near-term margin pressures to ease, aiming to return to EBITDA margins exceeding 20% by 2028.
• European distribution: A newly established Italian subsidiary will cut delivery lead times across Europe from 60 days to 2 days, improving dealer confidence and regional penetration.
• Pricing and demand: Following a calibrated 8% to 9% price hike, no further increases are planned as raw material costs soften, with overall demand continuing to pick up.
• Capacity expansion: Manufacturing capacity will expand from 9.2 million to 12 million units in two phases over the next 24 months, with Phase 1 beginning production in Q2.