Date: August 21, 2026
Financial Results (Standalone & Consolidated)
The company reported its highest-ever turnover with Total Income reaching ₹92.21 Crore for FY26, representing a strong growth of 17.99% over the previous financial year. Profit Before Tax was ₹11.42 Crore and Net Profit After Tax was ₹6.80 Crore.
Dividend Declaration or Non-Declaration
The Board of Directors recommended a Final Dividend of ₹0.50 per Equity Share for the financial year 2025-26, subject to the approval of the Members.
Board Meeting Outcomes
The AGM included voting on several resolutions:
- Adoption of Audited Standalone Financial Statements for FY26 (Ordinary Resolution)
- Declaration of final dividend of ₹0.50 per share (Ordinary Resolution)
- Re-appointment of Mr. Monish Doshi who retires by rotation (Ordinary Resolution)
- Revision in Remuneration payable to Mr. Amar Doshi (Special Resolution)
- Revision in Remuneration payable to Mr. Karan Doshi (Special Resolution)
- Re-Appointment of Mr. Amar Doshi as Chairman and Managing Director (Special Resolution)
- Re-Appointment of Mr. Karan Doshi as Whole-Time Director (Special Resolution)
Operational / Strategic Disclosures
Expanding Manufacturing Capabilities: The company successfully operationalized its Unit-3 manufacturing facility at Kosamba, which has enhanced manufacturing capabilities and provides greater capacity.
Product Innovation: The company launched its new Home Lift Solution – EVOQ360 with an advanced Battery Management System. The lithium battery solution was developed through the company's own R&D efforts following nearly one year of research. The battery system is capable of supporting approximately 100 lift cycles during power absence.
Market Response: The company is witnessing promising response to its Embossed Finish offerings from leading national-level elevator companies. Participation in industry exhibitions in India and internationally has helped strengthen market presence.
Shareholder Q&A
Management addressed several shareholder questions:
- Overall revenue grew 18% in FY26, but Elevator Division grew only 9% due to geopolitical impacts on real estate and construction sectors affecting project execution. Q1FY2027 already shows around 20% YoY growth.
- Geopolitical situation increased certain raw material costs, but the company has been able to pass on these costs to customers for new orders. Management expects to maintain operating margins in the range of 18-20% in FY27.
- Current monthly order book is in the range of ₹10-12 crore, providing good near-term visibility. The company has onboarded new OEM customers with ongoing discussions with others.
- Domestic market response has been encouraging with healthy demand. International orders continue in small quantities from African region, though geopolitical situation has impacted pace of new orders.
- Additional working capital may be required as business grows, but currently managed through internal cash flows. Any future fundraising would be disclosed to exchanges as required.
- The company intends to conduct earnings conference calls regularly, generally on quarterly or half-yearly basis, with one recently conducted on August 17, 2026.
KMP / Board / Auditor Changes
The transcript confirmed the presence of the complete board:
- Mr. Amar Doshi – Chairman and Managing Director
- Mr. Karan Doshi – Whole-Time Director
- Mr. Monish Doshi – Director & Chief Financial Officer
- Mr. Pradeepkumar Choksi – Independent Director
- Mrs. Shrungi Desai – Independent Director
- Mr. Hetal Mehta – Independent Director
- Mr. Nitinkumar Maniya – Company Secretary
Also present were:
- Mr. Darshak Patel (Proprietor of D C Jariwala & Co.) as Statutory Auditor
- Mrs. Pinal Shulka (Principal Partner of M/s. Dhirren R. Dave & Co.) as Secretarial Auditor and Scrutinizer
- Mr. Hiren Padariya (Partner of VCAS & Co.) as Internal Auditor