Detailed Summary
Financial Results Approval
The Board approved the Unaudited Standalone and Consolidated Financial Results for the Quarter and Half Year Ended September 30, 2026. The results were reviewed by the Audit Committee on November 11, 2026, and include Limited Review Reports from the statutory auditors.
Key Financial Figures (Standalone - ₹ in Millions)
Quarter Ended September 30, 2026:
- Revenue from Operations: ₹2,555.82
- Total Income: ₹2,623.14
- Profit Before Tax: ₹282.23
- Tax Expense: ₹72.00
- Profit for the Period: ₹210.23
- Basic EPS: ₹3.15
- Diluted EPS: ₹3.13
Half Year Ended September 30, 2026:
- Revenue from Operations: ₹4,662.22
- Total Income: ₹4,795.11
- Profit Before Tax: ₹548.51
- Tax Expense: ₹136.79
- Profit for the Period: ₹411.72
- Basic EPS: ₹6.16
- Diluted EPS: ₹6.14
Key Financial Figures (Consolidated - ₹ in Millions)
Quarter Ended September 30, 2026:
- Revenue from Operations: ₹5,254.34
- Total Income: ₹5,281.69
- Profit Before Tax: ₹546.44
- Tax Expense: ₹148.08
- Profit for the Period: ₹398.36
- Basic EPS: ₹5.96
- Diluted EPS: ₹5.94
Half Year Ended September 30, 2026:
- Revenue from Operations: ₹10,098.48
- Total Income: ₹10,154.00
- Profit Before Tax: ₹1,033.83
- Tax Expense: ₹286.78
- Profit for the Period: ₹747.05
- Basic EPS: ₹11.18
- Diluted EPS: ₹11.14
Promoter Reclassification Approval
The Board approved the request dated November 02, 2026, from Mr. Bhaskar Srinivasan (Promoter) seeking reclassification of himself and promoter group trusts from 'Promoter' to 'Public' category under Regulation 31A of SEBI Listing Regulations.
Shareholding Details as of November 12, 2026:
- Bhaskar Srinivasan: 49,34,120 shares (7.38%)
- BBS Family Trust: 6,84,475 shares (1.02%)
- KBS Family Trust: 6,84,475 shares (1.02%)
- Dolphin Family Trust: 1,000 shares (0.00%)
- Total: 63,04,070 shares (9.42%)
The approval is subject to compliance with Regulation 31A requirements and necessary approvals. The applicants confirmed they hold less than 10% voting rights, are not involved in management, do not exercise control, have no special rights, are not represented on the board, are not key managerial persons, are not wilful defaulters, and are not fugitive economic offenders.
Corporate Guarantee Approvals
1. For Avalon Technology and Services Private Limited: Approved corporate guarantee for credit facilities up to ₹55,00,00,000 (₹55 crore) for this wholly-owned subsidiary. The transaction is on an arm's length basis with no promoter interest. Impact: The guarantee is for a consolidated subsidiary with no additional impact on the company.
2. For ABV Electronics Inc.: Approved corporate guarantee for credit facilities from HDFC Bank Limited amounting to ₹50,50,00,000 (₹50.5 crore) for this wholly-owned subsidiary. The transaction is on an arm's length basis with no promoter interest. Impact: The guarantee is for a consolidated subsidiary with no additional impact on the company.
Investment Approval
Approved investment in Revos Auto Tech Pte. Ltd., Singapore, by subscribing to convertible notes for an aggregate sum of ₹11,00,00,000 (₹11 crore).
Investment Details:
- Target Entity: Revos Auto Tech Pte. Ltd. (Singapore)
- Business: EV charger hardware design, development, manufacturing; smart micro-mobility platform; peer-to-peer EV charging network
- Industry: Electric Vehicle (EV) Charging Infrastructure
- Investment Type: Convertible Notes
- Consideration: Cash
- Expected Ownership: 2.26% of fully diluted share capital (at floor price)
- Time for Completion: 12 weeks
- Not a related party transaction
Revos Financials (SGD):
- FY 2024-25 Revenue: 2,087,113
- FY 2023-24 Revenue: 1,363,643
- FY 2022-23 Revenue: 1,019,884
Purpose: To support Avalon's growth in the EV ecosystem and identify business collaboration opportunities. No governmental approvals required.
Other Business Updates
- The meeting commenced at 6:00 PM and concluded at 8:45 PM.
- Subsequent to quarter end (October 19, 2026), joint venture company Zollner Avalon Private Limited was incorporated with Zollner Elektronik AG (51%) and Avalon Technologies (49%).
- Subsequent to quarter end (October 27, 2026), Board approved proposed issuance of up to 19,37,808 warrants to Zollner Elektronik AG on preferential basis at ₹2,193.20 each, aggregating approximately ₹4,250 million, subject to shareholder and regulatory approvals.
- Employee stock options: 20,93,321 granted; 3,48,257 outstanding as of September 30, 2026; 70,545 equity shares allotted during Q2 FY27 upon exercise of ESOPs.