Evans Electric Limited

Key Quantitative Figures & Financial Performance

Financial Highlights for FY Ended March 31, 2026 (in ₹ '00):

  • Revenue from Operations: ₹11,68,330.01 (FY25: ₹25,47,874.71)
  • Other Income: ₹83,102.78 (FY25: ₹1,04,143.12)
  • Total Revenue: ₹12,51,432.79 (FY25: ₹26,52,017.83)
  • Total Expenditure: ₹12,38,654.84 (FY25: ₹16,48,120.15)
  • Profit/(Loss) Before Tax: ₹12,777.95 (FY25: ₹10,03,897.68)
  • Tax Expense: ₹55,841.87 (FY25: ₹2,46,429.13)
  • Profit After Tax: (₹43,063.92) Loss (FY25: ₹7,57,468.55 Profit)
  • Equity Share Capital: ₹5,48,80,000 (Unchanged)
  • Earnings Per Share (EPS): (₹0.78) (FY25: ₹21.90)

Balance Sheet Highlights (as of March 31, 2026, in ₹ '00):

  • Total Equity and Liabilities: ₹28,25,487.18
  • Total Assets: ₹28,25,487.18
  • Non-current assets: ₹15,06,384.95 (Includes Property, Plant and Equipment: ₹1,89,710.55; Capital Work-in-progress: ₹1,33,387.00; Non-current Investments: ₹11,20,427.52)
  • Current assets: ₹13,19,102.23 (Includes Inventories: ₹49,728.47; Trade Receivables: ₹3,65,163.17; Cash and cash equivalents: ₹6,44,867.86)

Dates of Action

  • AGM Date: Wednesday, September 23, 2026, at 11:30 AM IST.
  • AGM Mode: Video Conferencing (VC) / Other Audio-Visual Means (OAVM).
  • E-Voting Period: Begins Sunday, September 20, 2026, at 9:00 AM IST and ends Tuesday, September 22, 2026, at 5:00 PM IST.
  • Cut-off Date for E-Voting: Thursday, September 17, 2026.
  • Book Closure Date: Friday, September 18, 2026, to Wednesday, September 23, 2026 (both days inclusive).
  • Last Date for Shareholder Queries: Tuesday, September 08, 2026.

Parties Involved

Board of Directors as of Date:

  • Mr. Ivor Anthony Desouza (Chairman and Executive Director, DIN:00978987)
  • Mr. Lancelot Gerard Dcunha (Independent Director)
  • Mr. Kalyan Vijay Sivalenka (Non-Independent Non-Executive Director, DIN:06404449)
  • Ms. Olga Noela Lume Pereira (Independent Director)
  • Ms. Jeanne Marie Desouza (Additional Non-Independent Non-Executive Director, appointed June 01, 2026, DIN:11748473)

Key Managerial Personnel (KMP):

  • Mr. Rajesh Dattatray Dhekane (Chief Executive Officer)
  • Mr. Sunil B. Jadhav (Chief Financial Officer, appointed August 05, 2026)
  • Ms. Simpi Sahani (Company Secretary & Compliance Officer)

Statutory Auditor: M/s R.S. Prabhu & Associates, Chartered Accountants

Secretarial Auditor: A. Sekar (Sekar Ananthanarayan), Practicing Company Secretary

Scrutinizer for E-Voting: M/s MSDS & Associates, Practicing Company Secretaries

Registrar and Transfer Agent: Bigshare Services Private Limited

Bankers: ICICI Bank Limited, Union Bank of India

Business & Rationale

Ordinary Business for AGM:

1. To receive, consider, and adopt the Audited Financial Statements for FY 2025-26.

2. To re-appoint Mr. Kalyan V. Sivalenka (DIN: 06404449), who retires by rotation.

Special Business for AGM:

3. To regularize the appointment of Ms. Jeanne Marie Desouza (DIN: 11748473) as a Director (Non-Executive). She was appointed as an Additional Director effective June 01, 2026, and holds office up to the AGM date. She is the spouse of Chairman Mr. Ivor Desouza and holds 761,980 equity shares (13.90% holding). She is entitled to sitting fees for board meetings.

Company's Performance & Operations:

The company is engaged in specialized electrical repair, rewinding, overhauling, and testing of electric motors, generators, and transformers. FY 2025-26 was a transition year with lower revenue attributed to major organizational and operational changes initiated at the start of the year. The company focused on process standardization, environmental protection initiatives, ethical work practices, team strengthening, and facility upgrades. It diversified into two new verticals: Renewable Power Generation and Specialized Component Manufacturing for Exports.

Management Changes During FY 2025-26:

Appointments:

  • Mr. Kalyan V. Sivalenka (Additional Director w.e.f. May 28, 2025)
  • Ms. Olga Neola Lume Pereira (Additional Independent Director w.e.f. May 28, 2025)
  • Mr. Prathamesh Wadekar (CFO w.e.f. December 04, 2025)
  • Mr. Rajesh Dattatray Dhekane (CEO w.e.f. June 27, 2025)

Resignations/Retirements:

  • Mr. Krishna Pal Singh (Independent Director, w.e.f. July 07, 2025)
  • Mr. Wilson Desouza (Whole Time Director, w.e.f. October 31, 2025)
  • Mr. Prathamesh Wadekar (CFO, w.e.f. February 28, 2026)
  • Mr. Christopher Joseph Rodricks (Independent Director, retired w.e.f. October 22, 2025)
  • Mr. Anil Gulwani (CFO, retired w.e.f. September 11, 2025)
  • Mr. Rajkumar Mohan Keshwani (Alternate Director, vacated w.e.f. June 27, 2025)
  • Mr. Nelson Lionel Fernandes (Managing Director, resigned w.e.f. April 02, 2025)
  • Ms. Iyleen Matilda Fernandes (Whole-time Director, resigned w.e.f. April 02, 2025)

Financial & Capital Structure Impact

  • Dividend: No dividend proposed for FY 2025-26 due to losses.
  • Reserves: No transfer to reserves recommended.
  • Share Capital: Remained unchanged at 54,88,000 equity shares of ₹10 each.
  • Borrowings: Secured Term Loans from ICICI Bank amounted to ₹60,611.27 (in '00).

Cash Flow Implications

As per the Cash Flow Statement:

  • Net Cash from Operating Activities: ₹4,21,496.33
  • Net Cash from Investing Activities: ₹1,99,332.75
  • Net Cash from Financing Activities: (₹23,517.67)
  • Net Increase in Cash and Equivalents: ₹5,97,311.41

Other Material Disclosures

  • CSR Expenditure: The company spent ₹14,12,327 (2% of average net profit), contributing to The Bandra Holy Family Hospital and St. Elizabeth Hospital.
  • Internal Financial Controls: The auditors reported that internal financial controls were adequate and operating effectively.
  • Secretarial Audit: The Secretarial Audit Report did not contain any qualifications.
  • Related Party Transactions: Disclosures are provided in the Notes to Accounts. Transactions were with directors and KMPs, primarily comprising remuneration, professional fees, and profit-sharing.
  • Foreign Exchange: Earnings from foreign contracts were ₹30,44,902. Foreign currency expenditure was nil for FY26 (FY25: ₹2,69,564).

Forward-Looking Commentary (Explicitly Stated)

The Chairman's message states: "The most challenging phase of this transformation is now behind us. Evans Electric today is more agile, better governed, and well-positioned to capitalise on emerging opportunities... we are confident of creating long-term value for all stakeholders."