Bharat Seats Q1 FY27 Net Profit Rises 44% YoY

The Board approved the unaudited financial results for the quarter ended June 30, 2026:

Revenue from operations: ₹57,782.61 lakhs (₹577.83 crore)
Other Income: ₹107.48 lakhs (₹1.07 crore)
Total Income: ₹57,890.09 lakhs (₹578.90 crore)
Profit before tax: ₹1,771.74 lakhs (₹17.72 crore)
Total tax expense: ₹450.46 lakhs (₹4.50 crore)
Profit for the period: ₹1,321.28 lakhs (₹13.21 crore)
Earnings per share (Basic and Diluted): ₹2.10

Comparative Performance:

The Limited Review Report by S.R. Batliboi & Co. LLP contained no qualifications or adverse remarks.

1. Mr. Vipin Garg Appointment

Appointed as Additional Director - Nominee of Maruti Suzuki India Limited
Effective from August 04, 2026
Term: Until the next Annual General Meeting
DIN: 10985209
Profile: Aged 54 years, with over three decades of experience, currently heading Quality Assurance Vertical and Rohtak R&D Centre at Maruti Suzuki India Limited
No shareholding in the company
Not debarred from directorship by SEBI or any other authority

2. Mr. Arvind Kapur Reappointment

Recommended to shareholders for approval as Independent Non-Executive Director
Aged 76 years (having attained 75 years)
Proposed term: Five years
DIN: 00096308
Profile: Promoter, Chairman, and Managing Director of Rico Auto Industries Limited with over 45 years of automotive industry experience
No shareholding in the company
Not debarred from directorship

3. Mr. Shailesh Tripathi Designation

Designated as Senior Management Personnel (Chief Human Resource Officer)
Effective from August 04, 2026
Experience: 28 years in HR across various regions and companies including Tata Group, Hi-Tech Gears Limited, Shriram Pistons, Krishna Maruti, and Rockman Industries Limited
No shareholding in the company
Not debarred from holding office

1. ESOP Grant

Approved and recommended list of identified eligible employees for grant of ESOP as per NDR Auto Components Limited Stock Option Plan, 2024

2. Capital Expenditure

Approved additional capital expenditure of approximately ₹49.33 crore
Purpose: New programs of Maruti Suzuki India Limited
Locations: Company's plants at Kharkhoda, Distt. Sonepat, Haryana and Navyani, Gujarat
Characterized as "in the ordinary course of business"

3. Borrowing Limits

Approved and recommended to shareholders the enhancement of borrowing limits from ₹200 crores to ₹400 crores

4. Postal Ballot

Note 4 discloses ongoing income tax issues:

Income Tax Department conducted search under section 132 of Income Tax Act, 1961 in FY 2023-24
Initial demand orders: ₹2,243.72 lakhs (excluding penalties) for AY 2014-15 to 2024-25
Penalty demand: ₹524.28 lakhs for AY 2022-23
After appeals, outstanding demand reduced to ₹245.25 lakhs for AY 2013-14 to 2024-25 (excluding AY 2022-23)
AY 2022-23 total demand: ₹756.75 lakhs (including penalties) - appellate order awaited
Additional penalty demands: ₹271.48 lakhs for AY 2019-20, 2020-21, 2021-22 and 2024-25
Company has filed appeals with ITAT and CIT(A)
Management confident of favorable outcome based on legal advice
No adjustments made to financial results pending appeal outcomes