Meeting Proceedings

  • The AGM was chaired by Director Mr. Laksh Vaaman Sehgal as Chairman Mr. Vivek Chaand Sehgal was unable to attend.
  • Company Secretary Ms. Pooja Mehra confirmed the meeting was conducted via video conferencing per MCA circulars and that requisite quorum was present.
  • E-voting was conducted from July 24, 2026 (9:00 AM) to July 27, 2026 (5:00 PM) with cutoff date of July 21, 2026.
  • Mr. D.P. Gupta, Company Secretary in Practice, was appointed as Scrutinizer to conduct the poll.

Financial Performance Highlights (FY 2025-26)

  • Revenue: ₹11,478 crore, registering 23.2% growth over previous year
  • EBITDA: ₹1,061 crores compared to ₹997 crores in FY 2024-25, reflecting 6.4% growth
  • Company maintained debt-free status throughout the year

Shareholder Queries and Management Responses

Multiple shareholders raised questions during the meeting, which were addressed by Mr. Gulshan, Chief Financial Officer:

Strategic Growth Initiatives:

  • Company aims to sustain above-industry growth by strengthening customer partnerships
  • Focus on increasing wiring harness content per vehicle and expanding presence across evolving vehicle platforms
  • Following powertrain agnostic strategy across IC, EV, and hybrid platforms

EV Business Performance:

  • EV programs accounted for approximately 6.6% of company's revenue in FY 2025-26
  • Strengthening low and high voltage wiring harness capabilities
  • Investing in technologies aligned with increasing vehicle electrification and electronic complexity

Capacity Expansion:

  • Facilities at Navagam, Kadkhoda, and Pune are being ramped up in line with customer production schedules
  • As volumes increase, these investments are expected to progressively improve operating leverage and operational efficiency
  • Enhance customer proximity and support long-term growth

Customer Concentration:

  • Remains aligned with Indian automotive industry
  • Supported by diversified customer base, multi-location engagements, and selective program intake based on economic probity

Capital Allocation:

  • Disciplined approach prioritizing investment in capacity expansion and technology where there is strong customer visibility
  • Debt-free balance sheet provides financial flexibility to support growth while maintaining capital efficiency

Capital Expenditure:

  • Capex for financial year 2026-27 expected to remain broadly in line with FY 2025-26 levels

Operational Footprint:

  • Company has 30 wiring harness facilities across India located in proximity to customer locations
  • Primarily operates on business-to-business models supplying directly to leading automotive OEMs

Resolutions Put to Vote

The following nine ordinary resolutions were placed for voting:

1. Adoption of Financial Statements for FY ending March 31, 2026, with reports of Board of Directors and auditors

2. Declaration of final dividend of ₹0.58 per equity share for FY ending March 31, 2026

3. Reappointment of Mr. Anurag Gahlot, Director who retires by rotation

4. Reappointment of M/s SR Batliboi & Co. LLP as statutory auditors

5. Ratification of remuneration payable to cost auditors for FY 2026-27

6. Payment of commission to non-executive directors

7. Entering into related party transactions with Sumitomo Wiring System Ltd

8. Entering into related party transactions with Samvardhana Motherson International Limited

9. Appointment of Mr. Ryuji Sakai as Director of the Company

Voting Results

  • Voting results along with scrutinizer's report to be made available within 48 hours of the meeting
  • Results will be available on company website, NSDL (voting agency), BSE, and NSE
  • Mr. Laksh Vaaman Sehgal authorized the Company Secretary to declare voting results

Attendees

Directors Present: Mr. Soichiro Namba, Mr. Ryuji Sakai, Ms. Anisha Motwani, Ms. Suparna Pandhi, Mr. Anupam Mohindroo, Col Virendra Chand Katoch (Retd), Mr. Rajesh Kumar Seth, Mr. Anurag Garlot

Management Present: Mr. Gulshan (CFO), Ms. Pooja Mehra (Company Secretary), Mr. Sanjay Mehta (Head of Chairman's Office South Asia), Mr. Pankaj Mittal (Whole Time Director and President, Samvardhana Motherson International Limited), Mr. Anubhav Kapoor (General Counsel COSA), Mr. Sanjay Chauhan (Chief Marketing Officer), Mr. Dinesh Chandra (Chief Manufacturing Officer)

External Attendees: Ms. Sonika Logane (Partner, S.R. Batliboi & Co. LLP), Mr. D.P. Gupta (Scrutinizer)