AGM Details

The 34th Annual General Meeting will be held on August 7, 2026 at 10:00 AM IST through Video Conference/Other Audio Visual Means. Key schedule includes e-Voting cut-off date of July 31, 2026, remote e-voting period from August 4-6, 2026, and record date for dividend of July 31, 2026.

Financial Performance Highlights FY 2025-26

  • Revenue from Operations: ₹86,592 lakhs (₹83,842 lakhs previous year)
  • Net Profit: ₹1,215 lakhs (₹2,417 lakhs previous year) - 50% decrease
  • Earnings per Share: ₹3.86 (₹7.68 previous year)
  • Dividend Recommended: ₹1.30 per share (plus interim dividend of ₹2.50 paid during year)
  • Total Assets: ₹83,429 lakhs (₹77,501 lakhs previous year)
  • Borrowings: ₹12,901 lakhs (₹12,929 lakhs previous year)
  • Cash Equivalents: ₹311 lakhs (₹290 lakhs previous year)

Key Financial Ratios

  • Operating Profit Margin: 9.8% (11.6% previous year)
  • Net Profit Margin: 1.0% (3.0% previous year)
  • Return on Net Worth: 3.0% (5.0% previous year)
  • Debt Equity Ratio: 0.28 (0.28 previous year)
  • Current Ratio: 1.10 (1.24 previous year)

Operational Highlights

  • Maintained ~13% global and ~42% domestic market share in Engine Air Management
  • Successful entry into Korean market for automotive applications
  • Expanded product portfolio into safety systems and body systems
  • Cumulative deployment of ~6 million BLDC solutions since 2020
  • 57% of total turnover from exports
  • 9 modern manufacturing units with 774 employees

ESG Performance

  • 90% renewable electricity consumption
  • 80% cumulative reduction in Scope 1 and Scope 2 emissions compared to base year FY 2022-23
  • Zero hazardous waste to landfills
  • 1,501 Ton/Year emission reduction
  • CSR Spend: ₹60 lakhs benefiting 14.54 lakh beneficiaries
  • EcoVadis Rating: Improved to 57/100 from 40/100

Audit and Compliance

  • Statutory Auditors (B S R & Co LLP) issued unqualified opinion on financial statements
  • Internal financial controls found adequate and operating effectively
  • Key audit matters: Revenue recognition and impairment assessment of non-automotive business CGU
  • Directors certification confirmed no disqualifications by SEBI or MCA

Borrowings and Financing

  • Term loans from banks: ₹1,724 lakhs (non-current)
  • Working capital facilities: ₹8,223 lakhs
  • Supply chain financing arrangements: ₹2,193 lakhs
  • Secured borrowing facilities totaling ₹1,290 crore

Related Party Transactions

  • Significant transactions with Igarashi Electric Works Japan (up to ₹950 crores)
  • Sales to related parties: ₹35,974 lakhs to Customer A (Japan)
  • Royalty payments: ₹429 lakhs to holding company
  • Seeking shareholder approval for material related party transactions

Corporate Actions

  • Final dividend of ₹1.30 per share subject to shareholder approval
  • Re-appointment of Mr. Haruo Igarashi as Director retiring by rotation
  • Approval of remuneration to related party employee

Subsequent Events

  • Final dividend proposed by Board on May 21, 2026, subject to shareholder approval at AGM
  • No other material subsequent events identified