Company Overview

Autoriders International Limited (BSE: 512277, CIN: L70120MH1985PLC037017) filed its Annual Report for FY 2025-26 along with notice for its 41st Annual General Meeting. The company, engaged in car rental services for corporate clients over three decades, reported significant financial growth and operational expansion during the year.

Financial Performance (FY 2025-26)

The company achieved standalone revenue of ₹100.59 crore (15.52% growth from ₹87.07 crore in FY25) and net profit of ₹9.04 crore (7.76% growth from ₹8.39 crore). Key financial highlights include:

  • Revenue Breakdown: Car rentals contributed ₹99.92 crore while new tour operating services added ₹0.83 crore
  • Operating Profit: ₹29.25 crore with finance costs of ₹3.20 crore
  • Tax Expense: ₹3.10 crore at effective tax rate of 25.56%
  • EPS: ₹26.17 (adjusted for bonus issue)
  • Operating Cash Flow: Improved to ₹25.30 crore from ₹19.06 crore

Capital Structure & Corporate Actions

The company implemented significant capital changes:

  • Bonus Issue: 29,00,700 shares issued in 1:5 ratio, increasing paid-up capital to ₹3.48 crore
  • Dividend: Final dividend of ₹1 per share declared, resulting in ₹5.80 lakh payout
  • Authorized Capital: Increased from ₹1.00 crore to ₹6.00 crore
  • Debt Position: Borrowings stood at ₹33.43 crore with debt-to-equity ratio of 0.57

Operational Developments

  • Fleet Expansion: Added 193 vehicles, expanding total fleet to 600 vehicles with capital outlay of ₹26.60 crore
  • New Business Segments: Entered car rental aggregator business partnering with Uber and launched tour operating services
  • Subsidiary Formation: Incorporated wholly-owned subsidiary Solareco Energy Private Limited for renewable energy business, though commercial operations haven't commenced

41st Annual General Meeting

Scheduled for September 28, 2026 via video conference, the AGM will consider:

  • Ordinary Business: Adoption of financial statements and re-appointment of Mrs. Maneka Vijay Mulchandani as director
  • Special Business: Key resolutions include increasing borrowing limits from ₹100 crore to ₹200 crore, altering MOA to include renewable energy business, redesignating Mrs. Mulchandani as Whole-Time Director with remuneration up to ₹50 lakh annually, and appointing Secretarial Auditor for five years

Corporate Governance & Compliance

The company maintained compliance with SEBI Listing Regulations, with all mandatory committees functional. Key managerial personnel include Mr. Chintan Patel (MD & CEO), Mrs. Maneka Mulchandani (Executive Director), Mr. Ramachandran C.G. (CFO), and Ms. Priyanshi Joshi (Company Secretary).

Financial Position

  • Assets: Property, plant and equipment increased to ₹70.83 crore, primarily vehicles (₹58.98 crore) and office premises (₹11.24 crore)
  • Liquidity: Cash and bank balances totaled ₹4.73 crore with trade receivables of ₹19.09 crore
  • Equity: Reserves and surplus stood at ₹55.11 crore
  • Promoter Holding: Maintained at 62.43% of paid-up capital

Auditor Matters

Statutory auditors Vandana V. Dodhia & Co. emphasized two matters: ₹300 lakh loan to a group company that ceased to be going concern (management believes recoverable) and old income tax balances requiring confirmation. The company spent ₹21.50 lakh on CSR activities, meeting the prescribed 2% requirement.

Outlook

The company continues to expand its car rental operations while strategically diversifying into renewable energy through its subsidiary, positioning for future growth in both transportation and energy sectors.