Airfloa Rail Technology Ltd

AGM Details

• AGM held on 28 September 2026 at 11:30 AM via video conferencing/OAVM.
• Record date for voting: 21 September 2026.
• Meeting duration: 11:30 AM to 12:11 PM.
• Attendance via VC: 2 promoters, 28 public; total on record: 2,393.

Resolutions

• Resolution 1 (Ordinary): Adopt standalone and consolidated financial statements for FY ended 31 March 2026.
• Resolution 2 (Ordinary): Approve audited standalone and consolidated financial statements.
• Resolution 3 (Ordinary): Re-appoint director by rotation.
• Resolution 4 (Ordinary): Ratify remuneration of Cost Auditors for FY ending 31 March 2027.
• Resolution 5 (Ordinary): Approve appointment of Secretarial Auditors and fix remuneration.

Voting results

• Resolution 1: Passed; 100% in favour, 0 against.
• Resolution 2: Passed; 100% in favour, 0 against.
• Resolution 3: Passed; 100% in favour, 0 against.
• Resolution 4: Passed; 100% in favour, 0 against.
• Resolution 5: Passed; 100% in favour, 0 against.

Dividend

• No dividend proposed or declared.

Directors

• Director by rotation approved; no other changes disclosed.

Auditors

• Cost Auditors remuneration ratified for FY 2026-27.
• Secretarial Auditors appointed; remuneration fixed.

Related party transactions

• No material related party transactions disclosed.

Other material approvals

• No other material approvals disclosed.

AGM Details

• AGM held 28 September 2026 at 11:30 IST via VC/OAVM
• Meeting started 11:30 and concluded 12:11
• 27th AGM for the financial year 2025-26

Key Resolutions

• Ordinary: Adopt standalone financial statements for the year
• Ordinary: Adopt consolidated financial statements for the year
• Ordinary: Re-appoint director retiring by rotation
• Special: Ratify remuneration of Cost Auditors
• Special: Appoint Secretarial Auditors and fix remuneration

Voting Status

• Adopt standalone financials: voting results awaited
• Adopt consolidated financials: voting results awaited
• Re-appoint director: voting results awaited
• Ratify cost auditor remuneration: voting results awaited
• Appoint secretarial auditors: voting results awaited

Order details

• Awarding entity: Acme India Industries Ltd, Dwarka, New Delhi (domestic).
• Nature and scope: supply of railway interior items per Purchase Order dated 27.09.2026.
• Total value: Rs 7.33 Crores; payment term within 90 days.
• Execution window: completion on or before 27 October 2026.
• Domestic nature: order issued by a domestic entity.
• Promoter/Promoter Group: N.A. (no related party interest disclosed).
• PO terms: acceptance deemed if no objection within 3 working days.
• Order receipt: 27/09/2026 at 3:30 PM.

Airfloa Rail Technology Limited trading window closed from October 1, 2026 till 48 hours after the declaration of the unaudited standalone and consolidated financial results for the half year ended September 30, 2026.

Transaction highlights

• MoU signed to evaluate acquisition of KIN's business for ₹48 crore, subject to due diligence and approvals.
• Business under acquisition carries an order book of ₹180 crores, providing revenue visibility.
• Transaction to be funded through debt and internal accruals.
• Acquisition subject to due diligence, regulatory approvals and execution of definitive agreements.
• Strengthens metro interiors and coach manufacturing, expanding domestic and export reach.
• Enhances manufacturing capacity and capabilities for larger projects.

MOU for potential acquisition of KIN business

• MOU with KIN Railway Equipment Private Limited to evaluate and negotiate acquisition of KIN's business.
• Transaction consideration: INR 480,000,000 (₹48 crore), exclusive of taxes.
• Acquisition to be through slump sale or asset purchase, subject to due diligence and approvals.
• Conditions precedent include due diligence outcome, valuation, board approvals, and execution of definitive agreements.
• MOU states KIN is an unrelated entity; no promoter group interest.
• The transaction is currently at evaluation stage; definite timelines determined in definitive agreement.
• Board of Airfloa approved the MOU on August 27, 2026.
• The process requires regulatory and other approvals.

AGM notice and e-voting details

• 27th AGM on 28 September 2026 at 11:30 IST via VC/OAVM; deemed venue at registered office.
• Electronic notice of AGM and annual report for 2025-26 sent to members and posted online.
• Electronic dispatch on 04 September 2026 of AGM notice and annual report.
• Remote e-voting opens 25 September 2026 at 09:00 IST and ends 27 September 2026 at 17:00 IST.
• Cut-off date for voting eligibility is 21 September 2026.
• Scrutinizer appointed: Mr. Susanta Kumar Dehury of SKD & Associates.
• Audited financial statements for 2025-26 and related documents included in annual report.
• Annual report and notice available on airflow.co.in and KFin evoting site.
• Newspaper advertisements published titled 'Notice Of 27th Annual General Meeting and Information On E-Voting'.

AGM Details

• AGM scheduled for 28 September 2026 at 11:30 AM via video conferencing/ OAVM.

Rating summary

• Airfloa Rail Technology Limited assigned SMERA SME 1 rating.
• Rating indicates highest credit worthiness among SMEs.
• Validity: Aug 31, 2026 to Aug 30, 2027.

Instruments / rated

• Entity-level rating: SMERA SME 1; no specific instrument disclosed.

Agency

• Rating agency: SMERA (SMERA Performance & Credit Rating Agency of India).

Rationale

• Represents highest credit worthiness relative to other SMEs.

Material changes

• New rating assigned; no prior SMERA rating referenced.

JV with Acme India Industries Ltd

• JV with Acme India Industries Limited formed to participate in Konkan Railway tender.
• Acme 51% and Airfloa Rail Technology 49% equity in the JV.
• Acme to lead as Lead Member; authorized to sign tender and contract.
• Joint and several liability to Purchaser for contract obligations.

MOU with KIN for proposed acquisition

• MOU with KIN Railway Equipment Limited to evaluate acquiring KIN's business.
• Consideration to be determined after due diligence and valuation.
• Transaction could be going concern or asset purchase; definitive agreement required.
• Not a related party transaction; KIN is unrelated.
• Conditions precedent include due diligence, valuation, board approvals, and definitive agreement.

AGM scheduling

• AGM scheduled for 28 September 2026 at 11:30 AM via VC/OAVM.