Financial Performance Highlights

Revenue from Operations: ₹352.90 crore in FY26 vs ₹218.90 crore in FY25 (61.2% growth)

EBITDA: ₹92.30 crore in FY26 vs ₹58.60 crore in FY25 (57.5% growth)

EBITDA Margin: 24.60% in FY26 vs 24.41% in FY25

Profit Before Tax: ₹62.70 crore in FY26 vs ₹33.00 crore in FY25 (90.0% growth)

Profit After Tax: ₹46.93 crore in FY26 vs ₹24.40 crore in FY25 (92.2% growth)

Earnings Per Share: ₹15.34 in FY26 vs ₹7.98 in FY25

Operational Performance

Export Revenue: ₹66.90 crore (619% growth from ₹10.80 crore in FY25)

Export Percentage: 18% of total revenue vs 6% in FY25

Domestic Revenue: Remained principal driver of growth

Quarterly Performance: Progressive improvement through the year with Q4 revenue of ₹107.60 crore and PAT of ₹15.50 crore

Capital Structure and Liquidity

Net Worth: ₹635.46 crore as of March 31, 2026

Total Debt: ₹0.14 crore (virtually debt-free)

Cash and Cash Equivalents: ₹294.52 crore

Capital Employed: ₹637.22 crore

Return on Capital Employed (RoCE): 9.90% in FY26 vs 5.60% in FY25

Return on Equity (RoE): 7.6% in FY26 vs 4.1% in FY25

Total Equity: ₹6,354.56 million

Total Assets: ₹7,314.19 million

Dividend Declaration

Recommended final dividend of ₹3.27 per equity share of face value ₹5.00 each, totaling approximately ₹100.01 million, subject to shareholder approval at AGM. Record date set for September 10, 2026.

Strategic Initiatives and Business Development

US Subsidiary: Established US presence in Greenville, South Carolina for deeper OEM engagement

Technology Partnerships: Continued collaborations with Hofer Powertrain, FEV Group, and BorgWarner

Automatic Transmission: Evaluating technology transfer opportunity from North America for global American automotive manufacturer

EV Transmission: Commissioned India's first high-speed dynamometer for manual transmission, EV, and 4WD applications

R&D Investment: ₹11.79 crore spent on research and development

Capital Expenditure: ₹44.32 crore invested in FY26 with Capital Work-in-Progress of ₹177.33 million

Manufacturing and Operations

Facilities: Four manufacturing plants - two in Pune, one in Shirwal (Satara), one in Sirsi (Karnataka)

Capacity Utilization: Improved significantly during FY26, driving operating leverage

Certifications: ISO 14001:2015, ISO 45001:2018, IATF 16949:2016

Corporate Governance and AGM Details

Board Composition: 8 directors including 4 independent directors, 1 woman director

Board Meetings: 5 meetings held during FY26

AGM Details: 61st Annual General Meeting scheduled for September 18, 2026, at 2:30 PM through VC/OAVM

Special Incentives: Proposed ₹1.2275 crore for Mr. Jitendra Divgi (MD) and ₹0.595 crore for Mr. Hirendra Divgi (ED), subject to shareholder approval

Auditor Change: Proposal to appoint M/s. Kirtane & Pandit LLP as new statutory auditors for 5 years, replacing B.K. Khare & Co. due to mandatory rotation

Shareholding Pattern

Total Shares: 3,05,82,927 equity shares of ₹5.00 each

Dematerialization: 100% shares in demat form

Promoter Holding: 60.56% (51.68% through Divgi Holdings Private Limited + 8.88% directly)

Public Holding: 7.53%

Institutional Holding: 26.66% (Mutual Funds 12.36%, FPI 1.97%, Alternate Investment Funds 13.62%)

Forward Outlook

Revenue Target: Targeting ₹500 crore in FY27 and ₹1,000 crore around FY29-30

Growth Drivers: Export expansion, EV transmission capabilities, automatic transmission technology, global partnerships

Material Changes

Profitability: Significant net profit increase to ₹469.26 million in FY26 from ₹243.92 million in FY25

Inventory: Increased to ₹587.83 million (Mar-26) from ₹387.31 million (Mar-25)

Trade Receivables: Increased to ₹792.87 million (Mar-26) from ₹554.63 million (Mar-25)

Working Capital Management: Improved with inventory days reduced to 50 days from 62 days and receivables days to 70 days from 99 days