Financial Highlights (₹ lakhs)

Revenue from Operations: ₹24,299.30 (16.59% increase from ₹20,841.38 in FY 2024-25)

Operating Profit: ₹6,000.12

Finance Costs: ₹37.87

Profit Before Tax: ₹5,962.25

Tax Expense: ₹1,382.33

Profit After Tax: ₹4,579.92 (27.26% increase from ₹3,598.22 in FY 2024-25)

Earnings Per Share (Basic & Diluted): ₹5.03 (FY25: ₹3.95)

Other Comprehensive Income: (₹12.34)

Total Comprehensive Income: ₹4,567.58

Dividend Declaration

  • Board recommended Final Dividend of ₹2.5 per equity share for FY 2025-26 totaling ₹2,277.64 lakhs
  • Record Date: Wednesday, July 15, 2026
  • Payment Date: On or from Tuesday, August 4, 2026
  • Dividend payout would result in cash outflow of ₹2,277.64 lakhs
  • No amount proposed to be transferred to reserves

Annual General Meeting Details

  • 53rd AGM to be held on Thursday, July 30, 2026 at 3:00 PM IST
  • Mode: Video Conferencing/Other Audio-Visual Means (VC/OAVM)
  • Registered office shall be deemed venue of AGM

Ordinary Business

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

2. Declaration of dividend on Equity Shares for FY ended March 31, 2026

3. Re-appointment of Mr. Manigandann R. (DIN: 09604558) who retires by rotation

Special Business

4. Ratification of Remuneration of Cost Auditor Mr. G. Thangaraj at ₹2,00,000 plus applicable taxes and out-of-pocket expenses

5. Approval of Material Related Party Transactions with Saint-Gobain India Private Limited for aggregate amount not exceeding ₹150 Crores until next AGM

Financial Position and Performance

  • Revenue Breakdown: Sale of Manufactured Products: ₹23,489.02 lakhs; Sale of Stock-in-trade: ₹194.20 lakhs; Other Operating Revenue: ₹616.08 lakhs
  • Investments: Mutual Funds (unquoted) at FVTPL: ₹19,980.41 lakhs (FY25: ₹14,342.86 lakhs)
  • Trade Receivables: ₹3,479.13 lakhs net of allowance (FY25: ₹2,776.80 lakhs), including ₹260.31 lakhs from related parties
  • Cash and Bank Balances: ₹271.06 lakhs cash equivalents; ₹74.58 lakhs other bank balances including unpaid dividend accounts
  • Capital Structure: Paid-up Capital: ₹9,110.57 lakhs; 99.07% held in dematerialized form; Promoter holding: Saint-Gobain Sekurit France S.A. (48.26%), Saint-Gobain India Private Limited (26.74%)

Key Transactions and Events

  • Sold investment in VEH Wind Energy Private Limited (330,000 equity shares) to Vibrant Energy Holdings PTE. Ltd. on July 16, 2025 for ₹37.95 lakhs
  • CSR expenditure: ₹83.00 lakhs focused on education, vocational skills, and livelihood enhancement through The Akanksha Foundation and K.C. Mahindra Education Trust
  • Employee Benefits: Gratuity obligation ₹59.00 lakhs; Compensated Absences ₹140.53 lakhs; recognized ₹6.27 lakhs for New Labour Code impact
  • Contingent Liabilities: ₹1,151.13 lakhs primarily in sales tax and indirect tax matters
  • Lease Commitments: ₹128.45 lakhs lease liabilities

Operations and Performance Drivers

  • Indian automotive industry showed strong growth across all segments
  • Revenue growth driven by recovery in Medium & Heavy Commercial Vehicle segment
  • Company focused on improving production and delivery capabilities through automation
  • Manufacturing operations became more resource-efficient with reductions in water and energy consumption
  • Committed to green energy with increased share of renewable sources
  • Electric vehicle adoption accelerating in three-wheelers

Related Party Transactions

  • Saint-Gobain India Private Limited is a related party (fellow subsidiary) holding 26.74% shares
  • Total transactions with SGIPL in FY 2025-26 amounted to approximately ₹92 crores
  • Key transactions: Purchase of goods ₹4,895.63 lakhs; Sale of manufactured products and scrap ₹3,747.14 lakhs; IT Support services ₹183.34 lakhs; R&D Expenses ₹413.91 lakhs
  • Transactions are in ordinary course of business and at arm's length basis

Corporate Governance and Compliance

  • Board comprises 6 members (1 Executive, 5 Non-Executive including 2 Independent Directors)
  • Chairman is Non-Executive Independent Director
  • Four board meetings held during the year
  • Committees: Audit, Nomination and Remuneration, Stakeholders Relationship, CSR, Risk Management, Share Transfer
  • No qualifications, reservations or adverse remarks in audit reports
  • Statutory Auditors: Deloitte Haskins & Sells LLP; Cost Auditor: Mr. G. Thangaraj; Secretarial Auditor: V. N. Deodhar & Co.; BRSR Auditor: SGS India Private Limited

Financial Ratios

  • Current ratio: 6.32 (FY25: 7.20)
  • Return on equity: 19.96% (FY25: 17.37%)
  • Net profit ratio: 18.85% (FY25: 17.26%)
  • Return on Capital Employed: 24.54% (FY25: 21.98%)

Key Dates and Information

  • Remote e-Voting Period: July 27, 2026 (9:00 AM) to July 29, 2026 (5:00 PM)

Cut-off date for e-Voting: July 23, 2026

Scrutinizer: Mr. V.N. Deodhar, Practising Company Secretary

RTA: MUFG Intime India Private Limited