General information about company
Scrip code*		544599
NSE Symbol*		STUDDS
MSEI Symbol*		NOTLISTED
ISIN*		INE00Q601028
Name of company		STUDDS ACCESSORIES LIMITED
Type of company		Main Board
Class of security		Equity
Date of start of financial year		01-04-2025
Date of end of financial year		31-03-2026
Date of board meeting when results were approved		26-11-2025
Date on which prior intimation of the meeting for considering financial results was informed to the exchange		19-11-2025
Description of presentation currency		INR
Level of rounding		Millions
Reporting Type		Quarterly
Reporting Quarter		Second quarter
Nature of report standalone or consolidated		Consolidated
Whether results are audited or unaudited for the quarter ended		Unaudited
Whether results are audited or unaudited for the Year to date for current period ended/year ended		Unaudited
Segment Reporting		Single segment
Description of single segment		Helmets and accessories
Start date and time of board meeting		26-11-2025 19:45
End date and time of board meeting		26-11-2025 20:25
Whether cash flow statement is applicable on company		Yes
Type of cash flow statement		Cash Flow Indirect
Declaration of unmodified opinion or statement on impact of audit qualification		Not applicable

Financial Results – Ind-AS
Particulars		3 months/ 6 months ended (dd-mm-yyyy)	Year to date figures for current period ended (dd-mm-yyyy)
Date of start of reporting period		01-07-2025	01-04-2025
Date of end of reporting period		30-09-2025	30-09-2025
Whether results are audited or unaudited		Unaudited	Unaudited
Nature of report standalone or consolidated		Consolidated	Consolidated
Part I	Blue color marked fields are non-mandatory. For Consolidated Results, if the company has no figures for 3 months / 6 months ended, in such case zero shall be inserted in the said column.
1	Income
	Revenue from operations	1544.37	3036.56
	Other income	28.85	56.77
	Total income	1573.22	3093.33
2	Expenses
(a)	Cost of materials consumed	660.24	1269.86
(b)	Purchases of stock-in-trade	0	0
(c)	Changes in inventories of finished goods, work-in-progress and stock-in-trade	-18.31	-21.91
(d)	Employee benefit expense	158.64	316.19
(e)	Finance costs	2.49	4.93
(f)	Depreciation, depletion and amortisation expense	52.63	104.4
(g)	Other Expenses
1	Other Expenses	445.27	870.91
	Total other expenses	445.27	870.91
	Total expenses	1300.96	2544.38
3	Total profit before exceptional items and tax	272.26	548.95
4	Exceptional items	0	0
5	Total profit before tax	272.26	548.95
6	Tax expense
7	Current tax	65.28	135.93
8	Deferred tax	0.76	4.34
9	Total tax expenses	66.04	140.27
10	Net movement in regulatory deferral account balances related to profit or loss and the related deferred tax movement	0	0
11	Net Profit Loss for the period from continuing operations	206.22	408.68
12	Profit (loss) from discontinued operations before tax	0	0
13	Tax expense of discontinued operations	0	0
14	Net profit (loss) from discontinued operation after tax	0	0
15	Share of profit (loss) of associates and joint ventures accounted for using equity method	0	0
16	Total profit (loss) for period	206.22	408.68
17	Other comprehensive income net of taxes	-2.19	-2.16
18	Total Comprehensive Income for the period	204.03	406.52
19	Total profit or loss, attributable to
	Profit or loss, attributable to owners of parent	0	0
	Total profit or loss, attributable to non-controlling interests	0	0
20	Total Comprehensive income for the period attributable to
	Comprehensive income for the period attributable to owners of parent	0	0
	Total comprehensive income for the period attributable to owners of parent non-controlling interests	0	0
21	Details of equity share capital
	Paid-up equity share capital	196.77	196.77
	Face value of equity share capital	5	5
22	Reserves excluding revaluation reserve
23	Earnings per share
i	Earnings per equity share for continuing operations
	Basic earnings (loss) per share from continuing operations	5.24	10.38
	Diluted earnings (loss) per share from continuing operations	5.24	10.38
ii	Earnings per equity share for discontinued operations
	Basic earnings (loss) per share from discontinued operations	0	0
	Diluted earnings (loss) per share from discontinued operations	0	0
iii	Earnings per equity share (for continuing and discontinued operations)
	Basic earnings (loss) per share from continuing and discontinued operations	5.24	10.38
	Diluted earnings (loss) per share from continuing and discontinued operations	5.24	10.38
24	Debt equity ratio			Textual Information( 1)
25	Debt service coverage ratio			Textual Information( 2)
26	Interest service coverage ratio			Textual Information( 3)
27	Disclosure of notes on financial results	Textual Information(4)

Text Block

Textual Information(4)

1. These financial results have been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting”, prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules as amended from time to time, and in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

2. Subsequent to the quarter ended September 30, 2025, the Company has completed an initial public offering (IPO) through Offer for Sale of 7,786,120 equity shares with a face value of INR 5 each at an issue price of INR 585/- per share. The Company’s equity shares were listed on the BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) on November 7, 2025. Thus, this statement of unaudited consolidated financial results for the quarter ended September 30, 2025, is prepared in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

3. The above consolidated financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on November 26, 2025. The statutory auditors have carried out a limited review of the results and have issued an unmodified report.

4. The consolidated financial results include the financial results of the Company’s wholly-owned subsidiary Bikerz US Inc., incorporated in the United States of America. There are no other subsidiaries, joint ventures, or associates.

5. The Group operates in a single reportable segment, i.e., manufacture and sale of helmets and accessories, in accordance with Ind AS 108 on Operating Segments.

6. Tax expense has been provided based on the estimated effective tax rate for the full financial year, applied to the profit for the period.

7. The Statement of Cash Flows for the six-month period ended September 30, 2025 has been prepared using the indirect method as prescribed under Ind AS 7.

8. There were no exceptional items, material non-recurring transactions, mergers, demergers, or changes in the Company’s structure during the quarter and six-month period ended September 30, 2025.

9. Earnings per share for the interim periods have not been annualised.

10. Previous period figures have been regrouped/reclassified wherever necessary.

11. The Un-Audited Consolidated Financial Results for the quarter and half year ended on September 30, 2025 are available on the website of the Company at www.studds.com under Investor Relations’ Section and also on the website of the concerned stock exchanges the BSE Limited at www.bseindia.com and National Stock Exchange of India Limited at www.nseindia.com.

Statement of Asset and Liabilities
Particulars		Half Year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2025
Date of end of reporting period		30-09-2025
Whether results are audited or unaudited		Unaudited
Nature of report standalone or consolidated		Consolidated
	Assets
1	Non-current assets
	Property, plant and equipment	3232.45
	Capital work-in-progress	458.33
	Investment property
	Goodwill	49.87
	Other intangible assets	66.7
	Intangible assets under development	40.53
	Biological assets other than bearer plants	0
	Investments accounted for using equity method	0
	Non-current financial assets
	Non-current investments	0.11
	Trade receivables, non-current	0
	Loans, non-current	0
	Other non-current financial assets	125.55
	Total non-current financial assets	125.66
	Deferred tax assets (net)	0
	Other non-current assets	0
	Total non-current assets	3973.54
2	Current assets
	Inventories	687.91
	Current financial asset
	Current investments	0
	Trade receivables, current	427.21
	Cash and cash equivalents	819.46
	Bank balance other than cash and cash equivalents	123.01
	Loans, current	0
	Other current financial assets	2.28
	Total current financial assets	1371.96
	Current tax assets (net)	0
	Other current assets	271.88
	Total current assets	2331.75
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	6305.29
	Total current assets	2331.75
3	Non-current assets classified as held for sale	0
4	Regulatory deferral account debit balances and related deferred tax Assets	0
	Total assets	6305.29
	Equity and liabilities
1	Equity
	Equity attributable to owners of parent
	Equity share capital	196.77
	Other equity	4606.58
	Total equity attributable to owners of parent	4803.35
	Non controlling interest	0
	Total equity	4803.35
2	Liabilities
	Non-current liabilities
	Non-current financial liabilities
	Borrowings, non-current	33.74
	Trade Payables, non-current
	(A) Total outstanding dues of micro enterprises and small enterprises	0
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	0
	Total Trade payable	0
	Other non-current financial liabilities	64.78
	Total non-current financial liabilities	98.52
	Provisions, non-current	56.15
	Deferred tax liabilities (net)	188.14
	Deferred government grants, Non-current	0
	Other non-current liabilities	0
	Total non-current liabilities	342.81
	Current liabilities
	Current financial liabilities
	Borrowings, current	0
	Trade Payables, current
	(A) Total outstanding dues of micro enterprises and small enterprises	162.86
	(B) Total outstanding dues of creditors other than micro enterprises and small enterprises	525.48
	Total Trade payable	688.34
	Other current financial liabilities	209.38
	Total current financial liabilities	897.72
	Other current liabilities	131.33
	Provisions, current	23.04
	Current tax liabilities (Net)	107.04
	Deferred government grants, Current	0
	Total current liabilities	1159.13
3	Liabilities directly associated with assets in disposal group classified as held for sale	0
4	Regulatory deferral account credit balances and related deferred tax liability	0
	Total liabilities	1501.94
	Total equity and liabilities	6305.29
	Disclosure of notes on assets and liabilities	Textual Information(1)

Other Comprehensive Income
Date of start of reporting period		01-07-2025	01-04-2025
Date of end of reporting period		30-09-2025	30-09-2025
Whether results are audited or unaudited		Unaudited	Unaudited
Nature of report standalone or consolidated		Consolidated	Consolidated
	Other comprehensive income [Abstract]
1	Amount of items that will not be reclassified to profit and loss
1	Items that will not be reclassified to profit or loss	-0.66	-1.28
2	Foreign Currency Translation Reserve	-1.69	-1.20
	Total Amount of items that will not be reclassified to profit and loss	-2.35	-2.48
2	Income tax relating to items that will not be reclassified to profit or loss	-0.16	-0.32
3	Amount of items that will be reclassified to profit and loss
	Total Amount of items that will be reclassified to profit and loss
4	Income tax relating to items that will be reclassified to profit or loss	0.00	0.00
5	Total Other comprehensive income	-2.19	-2.16

Cash flow statement, indirect
Particulars		Half Year ended (dd-mm-yyyy)
Date of start of reporting period		01-04-2025
Date of end of reporting period		30-09-2025
Whether results are audited or unaudited		Unaudited
Nature of report standalone or consolidated		Consolidated
Part I	Blue color marked fields are non-mandatory.
1	Statement of cash flows
	Cash flows from used in operating activities
	Profit before tax	548.95
2	Adjustments for reconcile profit (loss)
	Adjustments for finance costs	4.93
	Adjustments for decrease (increase) in inventories	-125.08
	Adjustments for decrease (increase) in trade receivables, current	-117.82
	Adjustments for decrease (increase) in trade receivables, non-current	0
	Adjustments for decrease (increase) in other current assets	0
	Adjustments for decrease (increase) in other non-current assets	0
	Adjustments for other financial assets, non-current	0
	Adjustments for other financial assets, current	0
	Adjustments for other bank balances	0
	Adjustments for increase (decrease) in trade payables, current	383.17
	Adjustments for increase (decrease) in trade payables, non-current	0
	Adjustments for increase (decrease) in other current liabilities	0
	Adjustments for increase (decrease) in other non-current liabilities	0
	Adjustments for depreciation and amortisation expense	104.4
	Adjustments for impairment loss reversal of impairment loss recognised in profit or loss	0
	Adjustments for provisions, current	0
	Adjustments for provisions, non-current	0
	Adjustments for other financial liabilities, current	0
	Adjustments for other financial liabilities, non-current	0
	Adjustments for unrealised foreign exchange losses gains	-2.54
	Adjustments for dividend income	0
	Adjustments for interest income	0
	Adjustments for share-based payments	0
	Adjustments for fair value losses (gains)	-0.02
	Adjustments for undistributed profits of associates	0
	Other adjustments for which cash effects are investing or financing cash flow	0
	Other adjustments to reconcile profit (loss)	-0.17
	Other adjustments for non-cash items	0
	Share of profit and loss from partnership firm or association of persons or limited liability partnerships	0
	Total adjustments for reconcile profit (loss)	246.87
	Net cash flows from (used in) operations	795.82
	Dividends received	0
	Interest paid	0
	Interest received	-29.78
	Income taxes paid (refund)	100
	Other inflows (outflows) of cash	-1.63
	Net cash flows from (used in) operating activities	664.41
3	Cash flows from used in investing activities
	Cash flows from losing control of subsidiaries or other businesses	0
	Cash flows used in obtaining control of subsidiaries or other businesses	0
	Other cash receipts from sales of equity or debt instruments of other entities	0
	Other cash payments to acquire equity or debt instruments of other entities	0
	Other cash receipts from sales of interests in joint ventures	0
	Other cash payments to acquire interests in joint ventures	0
	Cash receipts from share of profits of partnership firm or association of persons or limited liability partnerships	0
	Cash payment for investment in partnership firm or association of persons or limited liability partnerships	0
	Proceeds from sales of property, plant and equipment	2
	Purchase of property, plant and equipment	271.26
	Proceeds from sales of investment property	0
	Purchase of investment property	0
	Proceeds from sales of intangible assets	0
	Purchase of intangible assets	0
	Proceeds from sales of intangible assets under development	0
	Purchase of intangible assets under development	0
	Proceeds from sales of goodwill	0
	Purchase of goodwill	0
	Proceeds from biological assets other than bearer plants	0
	Purchase of biological assets other than bearer plants	0
	Proceeds from government grants	0
	Proceeds from sales of other long-term assets	0
	Purchase of other long-term assets	0
	Cash advances and loans made to other parties	0
	Cash receipts from repayment of advances and loans made to other parties	0
	Cash payments for future contracts, forward contracts, option contracts and swap contracts	0
	Cash receipts from future contracts, forward contracts, option contracts and swap contracts	0
	Dividends received	0
	Interest received	29.78
	Income taxes paid (refund)	0
	Other inflows (outflows) of cash	113.15
	Net cash flows from (used in) investing activities	-126.33
4	Cash flows from used in financing activities
	Proceeds from changes in ownership interests in subsidiaries	0
	Payments from changes in ownership interests in subsidiaries	0
	Proceeds from issuing shares	0
	Proceeds from issuing other equity instruments	0
	Payments to acquire or redeem entity's shares	0
	Payments of other equity instruments	0
	Proceeds from exercise of stock options	0
	Proceeds from issuing debentures notes bonds etc	0
	Proceeds from borrowings	2.16
	Repayments of borrowings	0
	Payments of lease liabilities	7.92
	Dividends paid	97.76
	Interest paid	4.93
	Income taxes paid (refund)	0
	Other inflows (outflows) of cash	0
	Net cash flows from (used in) financing activities	-108.45
	Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes	429.63
5	Effect of exchange rate changes on cash and cash equivalents
	Effect of exchange rate changes on cash and cash equivalents	0
	Net increase (decrease) in cash and cash equivalents	429.63
	Cash and cash equivalents cash flow statement at beginning of period	389.83
	Cash and cash equivalents cash flow statement at end of period	819.46

General information about company

Financial Results – Ind-AS

Text Block

Statement of Asset and Liabilities

Other Comprehensive Income

Cash flow statement, indirect