Key Financial Figures (FY 2025-2026)

  • Total Income: ₹678.49 million (Previous year: ₹689.31 million)
  • EBITDA: ₹13.11 million (Previous year: ₹49.18 million)
  • Finance Cost: ₹26.28 million (Previous year: ₹31.45 million)
  • Depreciation: ₹52.28 million (Previous year: ₹59.31 million)
  • Net Loss: ₹66.91 million (Previous year: loss of ₹55.85 million)
  • EPS: (₹11.20) per share (Previous year: (₹9.35))
  • Paid-up Capital: ₹597.50 lakhs (59,75,000 equity shares of ₹10 each)
  • Market Capitalization (as at March 31, 2026): ₹31.67 crores
  • Current Ratio: 0.60 (Previous year: 0.66)
  • Debt-Equity Ratio: 0.25 (Previous year: 0.26)

Annual General Meeting Details

  • 42nd AGM Date: Friday, July 31, 2026 at 11:00 AM IST
  • Mode: Video Conference/Other Audio-Visual Means (VC/OAVM)
  • Cut-off Date: July 24, 2026
  • E-voting Period: July 28, 2026 (9:00 AM) to July 30, 2026 (5:00 PM)

Business Transacted at AGM

Ordinary Business:

1. Adoption of Audited Financial Statements for FY ended March 31, 2026 together with Reports of Directors and Auditors

2. Re-appointment of Mrs. Deepika Kapoor (DIN: 00054799) as Director liable to retire by rotation

Director Information (Mrs. Deepika Kapoor)

  • Date of First Appointment: January 10, 1984
  • Shares Held: 54,300 shares
  • Board Meetings Attended: 4 out of 4 meetings in FY 2025-26
  • Committee Memberships: NRC, SRC and CSR Committee
  • Relationship: Related to Shri Rajiv Kapoor, Chairman and Managing Director
  • Remuneration: Sitting fees of ₹200,000 during the year

Operational and Business Update

  • The company operates an electric vehicle (EV) manufacturing facility at Surajpur, Greater Noida, Uttar Pradesh
  • Produces electric three-wheelers (E-Autos) primarily for domestic market under 'Samrat' brand
  • Continues to focus on expanding presence in electric mobility sector, particularly in three-wheeler (L5) category
  • Core business includes manufacturing of sheet metal components, muffler assemblies, fuel tanks, tools & dies
  • Four manufacturing plants located at:
  • Plant I: Sohna, Haryana
  • Plant II: Greater Noida, Uttar Pradesh
  • Plant III: Pune, Maharashtra
  • Plant IV: Sohna, Haryana

Capital Structure and Shareholding

  • Promoter Holding: 53.10% (3,172,840 shares)
  • Public Holding: 46.90% (2,802,160 shares)
  • Dematerialized Shares: 97.37% of total capital (NSDL: 61.37%, CDSL: 36.00%)
  • Physical Shares: 2.63% of total capital

Borrowings and Financial Position

  • Non-current Borrowings: ₹846.99 lakhs (Secured: ₹423.99 lakhs, Unsecured: ₹423.00 lakhs)
  • Current Borrowings: ₹1,368.06 lakhs
  • Current Liabilities exceed Current Assets by: ₹1,567.95 lakhs
  • Working Capital Facilities: Secured by first charge on stocks, receivables, and fixed assets

Related Party Transactions

All related party transactions were in ordinary course of business and at arm's length basis. No materially significant transactions reported.

Corporate Governance Compliance

  • Composition of Board: 4 Directors (1 Executive, 1 Non-Executive Woman Director, 2 Independent Directors)
  • Board Meetings held: 4 meetings during FY 2025-26
  • All applicable SEBI LODR regulations complied with
  • CSR provisions not applicable as company didn't meet eligibility criteria

Key Regulatory References

  • Companies Act, 2013 (Sections 108, 134, 135, 177, 178, 186, 188)
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024
  • MCA General Circular No. 03/2025 dated September 22, 2025

Dividend and Reserves

  • No dividend recommended for FY 2025-26 due to financial performance
  • No amount transferred to reserves due to loss incurred

Material Orders and Litigations

  • No significant material orders passed by regulators/courts impacting going concern status
  • Contingent liabilities include:
  • Custom duty dispute: ₹786.63 lakhs (under appeal with CESTAT)
  • GST demand: ₹21.06 lakhs (under appeal)
  • Income tax demand: ₹72.49 lakhs (paid under protest)

Going Concern Assessment

Despite current liabilities exceeding current assets by ₹1,567.95 lakhs, financial statements prepared on going concern basis based on management's expectation of continued financial support from promoters and business recovery.