Company Overview
Automobile Corporation of Goa Limited (ACGL) reported outstanding financial performance for FY26 with record revenue and significant profit growth. The company achieved revenue from operations of ₹933.65 crore, representing a 41% increase from FY25, while profit after tax surged 50% to ₹70.07 crore. Bus sales reached 9,328 units, a 28% year-over-year increase, with the bus division contributing 92% of total revenue.
Financial Performance & Dividend
ACGL demonstrated strong operational efficiency with EBITDA of ₹100.18 crore and earnings per share of ₹114.79. The Board recommended a final dividend of ₹22.50 per equity share (225%), subject to shareholder approval at the 46th Annual General Meeting scheduled for July 22, 2026. Combined with the interim dividend of ₹5.00 per share already paid, the total dividend payout represents 23.89% of PAT. The record date for the final dividend is set for July 15, 2026.
Operational Highlights & Sustainability
The company celebrated manufacturing its 100,000th bus and increased installed manufacturing capacity to 1,200 buses per month. Significant sustainability initiatives included commissioning 500 kWp and 805 kWp rooftop solar plants, reducing carbon emissions by over 600 tons, and implementing zero liquid discharge through the TATA Lake project. ACGL also diverted 237 tonnes of hazardous waste for co-processing and implemented food waste composting facilities.
Segment Performance & Related Parties
The pressing division reported revenue of ₹78.71 lakhs while the bus body building division generated ₹854.95 lakhs. Tata Motors Limited remained the dominant customer, contributing 91% of total revenue (₹849 crore). The company maintained strong financial ratios with current ratio improving to 2.66 and return on capital employed reaching 30.84%.
Exceptional Items & Regulatory Compliance
ACGL recognized an exceptional item of ₹328.63 lakhs due to the impact of new Labour Codes on gratuity and long-term compensated absences. The company received a show cause notice from KIADB regarding land utilization but obtained a one-year extension. Minor regulatory penalties included ₹5,000 imposed by BSE for delayed submission of related party transactions disclosure.
Management & Governance
Key management changes included Mr. Yatin Kakodkar's appointment as Chairman and appointments of Dr. Renu Sharma and Mrs. Rekha Bagry as Additional Independent Directors. The company maintained its CARE AA- (Stable) credit rating and reported adequate internal financial controls with no material weaknesses identified.
Future Outlook
ACGL maintains a positive medium-term growth outlook for the Indian bus industry (70,000-80,000 units annually) with focus on product diversification into school, staff, and electric vehicle segments. The company continues investments in digital transformation and sustainability initiatives while expanding into higher tonnage buses to improve operating leverage.