ASM Technologies Ltd

Issue overview

• Type of issue: preferential issue; securities: equity shares and convertible warrants.
• Proceeds status: proceeds raised in full; GCP allocation revised after receipt.
• Objectives: funding organic and inorganic growth and strategic acquisitions; general corporate purposes.

Utilisation of proceeds

• Utilisation aligns with offer disclosures; no deviations observed.
• Funding growth and acquisitions: partially utilised; remaining unutilised.
• General corporate purposes: partially utilised; funds idle.
• Unutilised proceeds invested in fixed deposits and mutual funds; no encumbrances.
• No major delays or changes in allocation reported.

Governance and compliance

• Approvals: statutory approvals not expressly required; board approved GCP allocation.
• Material events: no adverse events affecting viability reported.
• Disclosure: monitoring agency relied on management information and certificates.

GCP overview

• GCP allocation exists; board approved for allocation.
• GCP is partially utilised; remaining funds to be deployed in due course.
• GCP earmark revised upward after full proceeds receipt.

Business Overview

• End-to-end ER&D and design-led manufacturing with 7 plants in India and Vietnam.
• Markets served include USA, Singapore, UK, Canada, Japan, Thailand, Mexico, Vietnam.
• 7 manufacturing facilities: 3 Bangalore, 3 Chennai, 1 Vietnam.
• Strategic investments: Myelin Foundry ₹48 Cr for 20% holding.
• Strategic investments: Asmaitha Wireless ₹80 Cr for 51% holding.
• MoU with Karnataka government to invest ₹510 Cr for ESDM expansion.
• 10-acre land purchase from KIADB to set up new facility.
• Two new facilities at Dabaspet and Sriperumbudur to expand capabilities.
• 9 development centres, 7 manufacturing facilities, 10 offices.

Operational Highlights

• Q1 FY27 revenue from operations ₹198.8 Cr; EBITDA ₹46.2 Cr; EBITDA margin 23.2%.
• Profit After Tax ₹26.8 Cr; PAT margin 13.5%.
• FY26 revenue ₹528.5 Cr; EBITDA ₹101.1 Cr; EBITDA margin 19.1%.
• EPS Q1 FY27 ₹18.39; FY26 EPS ₹41.65.
• footprint: 3 Bangalore, 3 Chennai, 1 Vietnam manufacturing sites.
• 9 development centres, 7 manufacturing facilities, 10 offices.

Financial Performance

• Revenue growth: Q1 FY27 up 62% YoY to ₹198.8 Cr.
• EBITDA ₹46.2 Cr; margin 23.2%.
• PAT ₹26.8 Cr; margin 13.5%.
• FY26 Revenue ₹528.5 Cr; EBITDA ₹101.1 Cr; EBITDA margin 19.1%.
• FY26 Profit After Tax ₹60.8 Cr; EPS ₹41.65.

Capital Structure & Liquidity

• Mar-26: Total equity ₹307 Cr; total assets ₹502.9 Cr.
• Borrowings ₹68.7 Cr; cash ₹6.3 Cr (Mar-26).
• Net cash from operating activities ₹68.0 Cr.
• Consolidated cash flow: investing ₹₹165.6 Cr; financing ₹₹101.6 Cr.
• Ending cash balance ₹6.3 Cr as of Mar-26.

Strategic Priorities & Outlook

• AI/Industrial automation focus across Semiconductor, Electronics, Solar, Engineering, Aerospace.
• Capex: ₹510 Cr Karnataka expansion; two new facilities at Dabaspet and Sriperumbudur.
• MoU supports ESDM-led design-led manufacturing expansion and employment growth.
• AI capabilities: yield enhancement, AI assistant, parameter tuning, MLOps, predictive maintenance.

Governance & Leadership

• Managing Director Rabindra Srikantan continues as MD.
• Board includes Independent Director M. Lakshminarayan; directors Shekar Viswanathan, Ramesh Radhakrishnan, Preeti Rabindra, Hardik Agrawal.

AGM Details

• 34th AGM held on 5 August 2026 at 4:00 PM via VC/OAVM.
• Voting cutoff date for shareholders: 24 July 2026.
• Remote e-voting window: 31 July to 4 August 2026.

Resolutions and Voting Outcomes

• Resolution 1 (Ord): Adoption of financial statements — passed; 410 votes against.
• Resolution 2 (Ord): Dividend declaration — passed; per-share amount not disclosed.
• Resolution 3 (Ord): Appointment of Ms. Preeti Rabindra as director by rotation — passed; 9 votes against.
• Resolution 4 (Special): Capital raise via QIP up to INR 500 crores — passed.
• Resolution 5 (Ord): Appointment of Branch Auditors — passed; 410 votes against.

AGM Details

• 34th AGM held on 5 August 2026 via VC/OAVM.
• Meeting conducted from 4:00 PM to 5:29 PM IST.

Key Resolutions

• Ordinary: Adoption of audited standalone and consolidated financial statements.
• Ordinary: Dividend of Rs. 12.00 per equity share.
• Ordinary: Reappointment of Ms. Preeti Rabindra by rotation.
• Special: Capital raise via public/private offering including QIP up to INR 500 crores.
• Ordinary: Appointment of Branch Auditors.

Voting Status

• E-voting results to be intimated separately.
• Consolidated results to be displayed on company and RTA websites within 48 hours.

Results disclosure

• Unaudited standalone and consolidated results for quarter ended 30 June 2026.
• Board took on record the unaudited results on 5 August 2026.
• Limited Review Report enclosed for the period ended 30 June 2026.
• Standalone and Consolidated results prepared as per Ind-AS.
• Arrangements to publish accounts in one national and one regional newspaper.

Financial results and dividend

• Unaudited standalone and consolidated results for quarter ended June 30, 2026 approved.
• Interim dividend of Rs 6 per share for FY2026-27 declared; record date Aug 12, 2026.
• Payout by Sept 4, 2026.

Auditor remarks and material disclosures

• Emphasis of Matter on noncurrent investments valuations (Eclectic 1Q, Lavelle) in progress.
• ERP system TCS iON stabilization; rectifications underway.
• Three foreign subsidiaries not reviewed; results based on management certification.
• March 31, 2026 balancing figures; prior period figures only reviewed, not audited.
• Overseas subsidiaries' losses; going concern supported by management funding plan.
• Labour code changes impact disclosed as exceptional item per actuarial report.

Meeting Details

• Board meeting scheduled for 5 August 2026; time and venue not disclosed.

Key Agenda Items

• Consider and take on record standalone and consolidated unaudited results for quarter ended 30 June 2026.
• Recommend interim dividend, if any, for the year 2026-2027.

Other Notes

• Trading window closed for insiders from 30 June 2026 to 7 August 2026.

Record date and e-voting details

• Record date revised to Wednesday, 29 July 2026, for entitlement to any final dividend.
• Security: Equity Shares (Code 526433).
• AGM scheduled for 5 August 2026.
• Dividend, if declared at AGM, payable to shareholders.
• Remote e-voting opens July 31, 2026 at 9:00 AM IST.
• Remote e-voting closes August 4, 2026 at 5:00 PM IST.

Dividend record date and voting

• Record date: Wednesday, 29 July 2026, for entitlement to final dividend if declared at AGM.
• Security type: Equity Shares.
• AGM date: 5 August 2026.
• E-voting window: 31 July 2026 9:00 AM to 4 August 2026 5:00 PM IST.
• Cut-off date: 24 July 2026.