1. Financial Results Approval

The Board approved the Audited Financial Results (Standalone & Consolidated) of the Company for the quarter and year ended March 31, 2026, along with the Auditor's Report thereon.

2. Dividend Recommendation

The Board recommended a final dividend of ₹1.50 per equity share (face value ₹2 each) for the financial year 2025-2026. This is in addition to an interim dividend of ₹0.90 per equity share already paid. The final dividend is subject to shareholders' approval in the ensuing Annual General Meeting (AGM) and shall be paid on or before 30 days from the date of its approval in the AGM. The AGM date and Record Date for the dividend payment will be determined later and disclosed to the stock exchange.

3. Auditor Appointments

  • Approved the appointment of M/s Shome & Banerjee, Cost Accountants (Registration No. 000001), as Cost Auditors of the Company for the financial year 2026-2027. Their remuneration is subject to shareholders' approval at the ensuing AGM.
  • Approved the appointment of M/s Ernst & Young LLP as Internal Auditor of the Company for the financial year 2026-2027.

4. Director Re-appointment

Approved the re-appointment of Mr. Raj Kumar Agrawal (DIN: 00177578) as a Non-Executive Independent Director for a second term of five consecutive years, from June 15, 2026 to June 14, 2031, subject to shareholders' approval at the ensuing AGM.

5. Investment Approval

Approved an investment in the Share Capital of a Subsidiary Company. The specific details of the investment were not quantified in the disclosure.

Meeting Details

The board meeting commenced at 19:10 Hours (IST) and concluded at 21:40 Hours (IST).

Financial Results Overview

Standalone Performance (Year ended March 31, 2026)

  • Total Income: ₹22,480.63 lakhs (Previous Year: ₹23,689.70 lakhs)
  • Profit Before Tax: ₹1,633.58 lakhs (Previous Year: ₹1,041.48 lakhs)
  • Profit After Tax: ₹1,237.94 lakhs (Previous Year: ₹841.93 lakhs)
  • Earnings Per Share (Basic & Diluted): ₹4.72 (Previous Year: ₹3.21)
  • Total Comprehensive Income: ₹1,184.45 lakhs (Previous Year: ₹1,112.81 lakhs)

Consolidated Performance (Year ended March 31, 2026)

  • Total Income: ₹22,484.80 lakhs (Previous Year: ₹24,023.38 lakhs)
  • Profit Before Tax: ₹1,112.60 lakhs (Previous Year: ₹595.66 lakhs)
  • Profit After Tax: ₹806.23 lakhs (Previous Year: ₹471.87 lakhs)
  • Attributable to shareholders: ₹1,018.27 lakhs
  • Attributable to non-controlling interest: (₹212.04) lakhs
  • Earnings Per Share (Basic & Diluted): ₹3.88 (Previous Year: ₹2.49)
  • Total Comprehensive Income: ₹751.30 lakhs (Previous Year: ₹742.74 lakhs)
  • Attributable to shareholders: ₹963.34 lakhs
  • Attributable to non-controlling interest: (₹212.04) lakhs

Segment-wise Performance (Consolidated, Year ended March 31, 2026)

  • Precured Tread Rubber and allied products/services: Revenue of ₹21,424.39 lakhs; Segment result (PBIT) of ₹626.17 lakhs.
  • Electronics including green energy storage: Revenue of ₹26.48 lakhs; Segment result (PBIT) of (₹416.25) lakhs.

Auditor's Report and Emphasis of Matter

The statutory auditors, Khanna & Annadhanam Chartered Accountants, issued an unmodified opinion on both the standalone and consolidated financial results. However, they included an Emphasis of Matter paragraph drawing attention to:

  • Foot Note 6: Relating to the valuation of the Company's investment in an oil exploration company in Nigeria. The fair value of this investment (₹1,319.50 lakhs as of March 31, 2026) is subject to the successful exploration and production of hydrocarbons. The outcome is uncertain as exploration and production are currently on hold due to restrictions on gas flaring by the Nigerian government.

Other Key Disclosures from Financial Statements

  • Impact of New Labour Codes: Effective November 21, 2025, the consolidation of labour legislations resulted in a one-time increase in the provision for employee benefits (gratuity and leave encashment) of ₹43.56 lakhs, recognized as an expense.
  • Subsidiary Details: The consolidated results include the subsidiary Millenium Manufacturing Systems Private Limited (previously Indergy Power Systems Private Limited). The subsidiary reported a net loss after tax of ₹431.71 lakhs for the year ended March 31, 2026.
  • Cash Flows (Standalone): Net cash generated from operating activities was ₹1,971.46 lakhs. Net cash used in investing activities was ₹1,004.96 lakhs, primarily for purchases of investments (₹4,467.93 lakhs). Net cash used in financing activities was ₹731.80 lakhs, mainly due to dividend payments (₹632.62 lakhs).